Why Sohn’s top stock pickers want investors to play it safe

Jonathan Shapiro, Jemima Whyte, Alex Gluyas, Emma Rapaport and James Thomson

Updated Nov 18, 2022 – 6.36pm, first published at 6.33pm

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Top global money managers are telling investors to steer clear of companies that don’t make money and invest instead in unloved but profitable businesses, as continuing central bank interest rate rises threaten to keep markets falling.

They railed against being tempted back into the sort of high-growth, loss-making stocks that have been popular for years but are now dangerous because they rely on the capital markets to survive.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.

Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years.

Alex Gluyas is a markets reporter based in our Melbourne newsroom.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.