The Vox Markets Podcast 2091: Small-cap Investing with Paul Hill and Paul Scott
May 1, 2025
Paul Scott, a UK equity analyst and stock market commentator, shares his insights on navigating small-cap investments. He discusses the implications of a CMA report on pet drug pricing, with a focus on CVS Group and Pets at Home. The conversation also covers performance analyses of companies like Vitrex, exploring energy challenges facing Strix and Drax. Amidst discussions on tariffs and supply chain dynamics, the duo highlights potential investment opportunities in industrial sectors, along with a positive outlook on long-term investments.
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UK Vet Pricing Review Benign
- The UK CMA's vet drug pricing review appears benign, focusing mainly on transparency and price comparison websites.
- Major disruptive actions like forced divestitures or price caps seem unlikely, reassuring for vet businesses CVS Group and Pets at Home.
Cut Losses, Invest Sensibly
- Avoid over-focusing on problematic stocks; cut losses and focus on better opportunities.
- Consider dipping toes into quality consumer stocks like Greggs at reasonable valuations.
Use Bonds for Retirement Security
- In older age, underpin investments with bonds and index-linked securities for capital preservation.
- Build your own annuity with bonds rather than paying for commercial annuities to capture higher value.