Materialise NV's ( MTLS ) stock rebounded on the back of its Q4 earnings, which likely stems from the fact that guidance points towards a return to consistent growth and improving margins. Materialise's Medical segment is performing well, andRichard Durant is the leader of Narweena, an asset manager focused on finding market dislocations that are the result of a poor understanding of a businesses long-term prospects. Narweena believes that excess risk adjusted returns can be achieved by identifying business ...

Group 1 - Digital Turbine (APPS) reported solid results in the third quarter, leading to a surge in its share price [1] - Despite the positive results, parts of Digital Turbine's business are still struggling, indicating mixed performance [1] - Growth for Digital Turbine is predominantly coming from specific segments of the company [1] Group 2 - Narweena, an asset manager led by Richard Durant, focuses on identifying market dislocations due to poor understanding of long-term business prospects [1] - The firm believes excess risk-adjusted returns can be achieved by targeting businesses with secular growth opportunities in markets with barriers to entry [1] - Narweena's investment strategy is driven by the belief that an aging population and low growth will create new investment opportunities, contrasting with past trends [1] Group 3 - Many industries are expected to face stagnation or secular decline, which may paradoxically improve business performance due to reduced competition [1] - Conversely, some businesses may experience rising costs and diseconomies of scale [1] - The economy is increasingly dominated by asset-light businesses, leading to a declining need for infrastructure investments over time [1]

Group 1 - C3.ai experienced a temporary bounce following rumors of a potential merger with Automation Anywhere, indicating possible strategic considerations due to ongoing struggles and management turnover [1] - Richard Durant leads Narweena, an asset management firm focused on identifying market dislocations stemming from misunderstandings of long-term business prospects [1] - Narweena aims to achieve excess risk-adjusted returns by targeting businesses with secular growth opportunities in markets characterized by barriers to entry [1] Group 2 - The research process at Narweena emphasizes company and industry fundamentals to uncover unique insights, with a focus on smaller cap stocks and markets lacking obvious competitive advantages [1] - The firm operates under the belief that an aging population, low population growth, and stagnating productivity will create new investment opportunities distinct from historical trends [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance due to reduced competition [1] Group 3 - There is a growing trend of economies being dominated by asset-light businesses, leading to a declining need for infrastructure investments over time [1] - A significant amount of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia [1] - Richard Durant holds undergraduate degrees in engineering and finance and an MBA, and has passed the CFA exams, indicating a strong educational background in finance [1]

Company Overview - CrowdStrike Holdings, Inc. (CRWD) is experiencing a business rebound following an IT outage in mid-2024, supported by a favorable demand environment [1] Investment Strategy - Narweena, an asset manager led by Richard Durant, focuses on identifying market dislocations due to misunderstandings of long-term business prospects, aiming for excess risk-adjusted returns through secular growth opportunities in markets with barriers to entry [1] - The research process emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon targeting deeply undervalued stocks [1] Market Dynamics - An aging population with low growth and stagnating productivity is expected to create new investment opportunities, contrasting with past trends [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance by reducing competition [1] - Conversely, some businesses may encounter rising costs and diseconomies of scale, while asset-light businesses increasingly dominate economies, leading to a decline in infrastructure investment needs [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia over time [1] Leadership Background - Richard Durant holds undergraduate degrees in engineering and finance from the University of Adelaide and an MBA from Nanyang Technological University, along with having passed the CFA exams [1]

Group 1 - Narweena is an asset manager that focuses on identifying market dislocations due to poor understanding of long-term business prospects [1] - The firm aims to achieve excess risk-adjusted returns by targeting businesses with secular growth opportunities in markets with barriers to entry [1] - Narweena's investment strategy emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon [1] Group 2 - The firm prefers smaller cap stocks and markets where competitive advantages are not immediately apparent [1] - Narweena believes that an aging population, low population growth, and stagnating productivity will create new investment opportunities distinct from historical trends [1] - Many industries may experience stagnation or secular decline, which could paradoxically enhance business performance due to reduced competition [1] Group 3 - Some businesses may face rising costs and diseconomies of scale, while economies are increasingly dominated by asset-light businesses [1] - The declining need for infrastructure investments is leading to a situation where a large pool of capital is pursuing a limited set of investment opportunities, driving up asset prices and compressing risk premia [1] - Richard Durant, the leader of Narweena, holds degrees in engineering and finance and an MBA, and has passed the CFA exams [1]

Company Overview - Silex Systems (SILXY) is an Australian developer specializing in laser isotope enrichment technology, primarily focusing on uranium enrichment for nuclear reactors through its joint venture with Cameco, known as Global Laser Enrichment [1] Investment Strategy - Narweena, an asset management firm led by Richard Durant, aims to identify market dislocations caused by misunderstandings of long-term business prospects, seeking excess risk-adjusted returns by targeting businesses with secular growth opportunities in markets with high barriers to entry [1] - The research process at Narweena emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and a long-term investment horizon focused on deeply undervalued stocks, particularly in smaller cap markets [1] Market Dynamics - The aging population, low population growth, and stagnating productivity growth are expected to create a different set of investment opportunities compared to historical trends, with many industries facing stagnation or secular decline, potentially improving business performance due to reduced competition [1] - Conversely, some businesses may encounter rising costs and diseconomies of scale, while economies increasingly favor asset-light businesses, leading to a declining need for infrastructure investments over time [1] - A significant pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressing risk premia over time [1] Leadership Background - Richard Durant holds undergraduate degrees in engineering and finance from the University of Adelaide (Honors) and an MBA from Nanyang Technological University (Dean's Honors List), and has successfully passed the CFA exams [1]

Core Insights - Ouster's stock has faced pressure despite strong returns in 2026, likely due to valuation concerns and changing investor sentiment towards drone stocks [1] Group 1: Company Overview - Ouster (OUST) has experienced significant stock performance fluctuations, with recent pressures attributed to valuation issues [1] Group 2: Investment Strategy - Narweena, an asset manager led by Richard Durant, focuses on identifying market dislocations caused by misunderstandings of long-term business prospects [1] - The firm aims to achieve excess risk-adjusted returns by targeting businesses with secular growth opportunities in markets with high barriers to entry [1] - Narweena's investment approach emphasizes company and industry fundamentals to uncover unique insights, with a preference for smaller cap stocks [1] Group 3: Market Trends - An aging population, low population growth, and stagnating productivity are expected to create new investment opportunities distinct from historical trends [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance due to reduced competition [1] - The shift towards asset-light businesses and declining infrastructure investment needs are contributing to a competitive landscape where capital is chasing limited opportunities, leading to rising asset prices and compressed risk premia [1] Group 4: Leadership Background - Richard Durant holds undergraduate degrees in engineering and finance from the University of Adelaide and an MBA from Nanyang Technological University, along with having passed the CFA exams [1]

Core Insights - AST SpaceMobile's share price has experienced significant fluctuations due to launch delays and SpaceX's spectrum acquisition, but no developments have altered the outlook on the company's prospects [1] Group 1: Company Overview - AST SpaceMobile is facing challenges with launch delays, which have impacted its share price [1] - The company operates in a market characterized by barriers to entry, which may provide long-term growth opportunities despite current setbacks [1] Group 2: Investment Strategy - Narweena, an asset manager led by Richard Durant, focuses on identifying market dislocations resulting from misunderstandings of long-term business prospects [1] - The investment strategy emphasizes high risk appetite and a long-term horizon, targeting deeply undervalued stocks, particularly in smaller cap markets [1] - The firm believes that an aging population and low population growth will create new investment opportunities distinct from historical trends [1] Group 3: Market Dynamics - Many industries are expected to face stagnation or secular decline, which could paradoxically enhance business performance due to reduced competition [1] - There is a growing trend of economies being dominated by asset-light businesses, leading to a decline in the need for infrastructure investments [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia over time [1]

Group 1: Company Performance - Simulations Plus (SLP) reported fourth-quarter results that were soft but aligned with expectations, leading to an initial positive share price response that quickly lost momentum [1] - The revenue guidance from Simulations Plus suggests growth, which may have influenced the stock's performance [1] Group 2: Investment Strategy - Narweena, an asset manager, focuses on identifying market dislocations due to poor understanding of long-term business prospects, aiming for excess risk-adjusted returns through secular growth opportunities in markets with entry barriers [1] - The research process at Narweena emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon targeting deeply undervalued stocks [1] - Narweena's investment thesis is based on the belief that an aging population with low growth and stagnating productivity will create new investment opportunities, while many industries may face stagnation or secular decline, potentially improving business performance due to reduced competition [1] - The firm notes that economies are increasingly dominated by asset-light businesses, leading to a declining need for infrastructure investments, which results in a large pool of capital chasing limited investment opportunities, driving up asset prices and compressing risk premia over time [1] Group 3: Leadership Background - Richard Durant, the leader of Narweena, holds undergraduate degrees in engineering and finance from the University of Adelaide and an MBA from Nanyang Technological University, where he was on the Dean's Honors List [1] - Durant has successfully passed the CFA exams, indicating a strong foundation in finance and investment analysis [1]

分组1 - Cognex (CGNX) achieved solid growth and improved margins in the third quarter, driven by one-off revenue, but this strength should not be extrapolated as revenue is growing at a single-digit rate and margins remain depressed [1] - Richard Durant leads Narweena, an asset manager focused on identifying market dislocations due to poor long-term business prospects, aiming for excess risk-adjusted returns through secular growth opportunities in markets with barriers to entry [1] - Narweena's investment strategy is based on company and industry fundamentals, targeting deeply undervalued stocks, particularly in smaller cap markets where competitive advantages are not obvious [1] 分组2 - The aging population, low population growth, and stagnating productivity growth are expected to create a different set of investment opportunities compared to the past, with some industries facing stagnation or secular decline, potentially improving business performance due to decreased competition [1] - Conversely, other businesses may experience rising costs and diseconomies of scale, while economies are increasingly dominated by asset-light businesses, leading to a declining need for infrastructure investments [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressing risk premia over time [1]