Banking, mining, retail, technology — we all know the ASX sectors that investors favour.
But what about some of the lesser-known industries?
If most people are backing companies in the same old fields then surely there must be some underpriced gems in niche areas?
When The Motley Fool spoke to Cyan Investment Management portfolio manager Dean Fergie recently, he picked 2 shares that he considered the best buys currently.
And they both play in unusual sectors.
Steady-earning ASX share is working on the 'one big winner'
Melbourne electronic games developer Playside Studios Ltd (ASX: PLY) floated on the ASX last December.
Fergie noted that game makers can go down one of two paths. Either create original content or make software for other companies, such as movie studios.
"Playside has got a really, really good blend of building games for the other big studios. So that revenue is more defined, a lot lower risk," he told this week's Ask A Fund Manager.
"But what they're also doing is developing their own IP in games and working towards having that one big winner down the track — be it console, mobile or PC."
Hitting that 'home run' makes or breaks most games developers.
"It's almost like running a movie studio. If you've got enough content, you're going to get that one big hit that really builds the company."
Playside shares entered the ASX with an initial public offering (IPO) price of 20 cents. That immediately doubled to 41 cents within a few hours of listing.
That IPO hype has now died down, with the stock going for 30 cents on Tuesday afternoon.
A famous name who found an absolute steal
Did you know television chef Maggie Beer has an ASX-listed company named after her?
Fergie is a fan of Maggie Beer Holdings Ltd (ASX: MBH), which focuses on producing gourmet food and drinks.
"Everyone knows the Maggie Beer name," he said.
"But most excitingly, a couple of months ago, they bought an online business called The Hamper Emporium. And we think they got that at an absolute steal."
According to Fergie, having this online presence perfectly complements the existing physical business.
"We think as entertainment is kind of subsiding a bit — you're not thanking your customers anymore by taking them to the footy or the Grand Prix or the Olympics," he said.
"This hamper kind of gifting is going to continue to boom."
Maggie Beer, which has its namesake on the board, has seen its shares slide down 21.4% for the year. However, the stock is up 75% in the past year.
Fergie still can't believe how little the company paid for The Hamper Emporium.
"They paid about a third of the multiple. I actually don't know how they got it so cheaply, but they did."