at what price do you buy in?, page-121

From AFR interview with Tribeca's Jun Bei Liu:

Buy-side opportunityBouts of extreme pessimism or optimism on the sell side are often a gift for the buy side. "It's definitely a stockpickers market, it's not going to follow the trend," the fund manager says."Now that we have had a correction we do feel that, once investors build a bit of confidence, for every incremental new dollar that is put in the market, it will go to the right company. It will go to the companies that will deliver earnings."The fund manager says she's open to investing in technology companies as long as they can produce expected earnings."I have no problem in investing in tech as long as they can deliver earnings that are better than expectations rather than less that expectations."In the Australian tech sector, the fund manager finds payments company Afterpay Touch "quite interesting"."I feel more comfortable with that stock than with Wisetech for example," she says. With logistics software provider Wisetech, Liu says: "I don't get enough clarity and transparency in terms of the earnings."Other companies the fund manager noted include poker machine maker Aristocrat. "We still like Aristocrat," she says, pointing to the company's ongoing growth, online gaming ventures, multiple and US dollar earnings.According to Liu it's still a reasonable overall environment for equities as the economic backdrop is "not too bad". "If you've done your homework, you should be happy to step in," she adds."Ultimately you have to be brave," Liu says. "I'm an investor not a trader. I'm there to put my money in a company so that it delivers a return."