ASX share at 30% discount but set to double earnings

You’ve heard all about how shares are now inflated and there are no bargains left.

But there are also experts saying the market will continue to rise, thanks to low interest rates and economies recovering from COVID-19.

So if equities are expensive but will rise, what the heck do you buy?

Redpoint chief executive Max Cappetta runs a quantitative model for his Tax Aware Australian Share Fund, and reckons he’s found a good one.

“One of the stocks we’ve had an eye on and we have a position in at the moment is Reliance Worldwide Corporation Ltd (ASX: RWC),” he told The Motley Fool’s Ask A Fund Manager this week.

“We see that it’s a stock that currently is on track to probably double their earnings from 2018. And yet is…