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Was Andrew wrong? Is Smartpay (ASX: SMP) a buy, opening an SMSF, China v America

Australian Investors Podcast

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The Importance of High Quality Companies

A lot of people make the mistake of thinking that the micro is representative of the macro. You could invest in SmartPay, which is a payment terminals business, or you could invest in Tyro. If you did this 12 months ago, Tyro is an absolute dog. But just generally speaking, we recommended SmartPay a few years ago. And it's done very well. It's about to transition into massive cash flow. That does not necessarily make it a good investment because the valuation has gone sky high with it.

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