Just to add to high inflation, rising interest rates and economic uncertainty, Russia is starting to look unstable.
That's why you need to be careful about which ASX shares you buy right at the moment.
Here is some expert advice:
Image source: Getty Images
Growth through 'structural tailwinds and product innovation'
Bell Potter Securities private wealth advisor Christopher Watt likes the look of international student services provider IDP Education Ltd (ASX: IEL).
Watt told The Bull IDP Education is one of the biggest businesses of its kind in the world.
"The company places international students into education institutions across six English-speaking countries."
The stock has fallen a brutal 15.9% over the past month after its English test monopoly in Canada was taken away as a result of market reforms in that country.
But Watt, as well as Wilsons equity strategist Rob Crookston, reckon this is a buying opportunity for IDP because the long-term advantages have not changed.
"It co-owns and distributes one of the most widely accepted English language proficiency tests," said Watt.
"We anticipate strong growth in the student placement business to be driven by structural tailwinds and product innovation."
Many of Watt and Crookston's peers agree with their bullishness for IDP Education.
According to CMC Markets, eight out of 12 analysts currently rate the stock as a buy.
Never Never could be the holy grail
Gascoyne Resources Ltd (ASX: GCY) is not a name investors hear much about, but there has been a lot happening this year for the miner.
In fact, the share price has already rocketed 59% year to date.
"The emerging gold producer has been significantly re-capitalised to unlock the potential of the Never Never discovery," said Alto Capital financial advisor Tony Locantro.
"Gold results from the Never Never deposit have been encouraging and highlight significant potential."
He noted how the site, about 500km north of Perth, averaged a very promising "92% overall metallurgical recovery in oxide material, with fresh material averaging above 94%".
The location is handy as it is less than 1km away from Gascoyne's existing Dalgaranga processing plant.
