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We asked our portfolio managers to share their views on potential surprises for 2019 which on balance of probabilities are unlikely to happen but shouldn’t be written off entirely. Here are ten potential surprises for 2019. Show More

The below chart tracks the proportion of the different sectors of the US stock market over the past 218 years: Show More

ASIC investigates unusual trading in Afterpay shares yesterday; Tesla loses another senior executive after just two months in the job; and Howard Marks tells investors to get the odds on their side. Here's what's happening in markets today. Show More

Telstra recently reported their half-year results - revenue, earnings and cash flow all broadly lined up with expectations so there weren’t many surprises. Although since we last looked at Telstra there have been some interesting developments. I discuss these in the following four minute video. Show More

It’s never been easier to trade. It’s cheaper than ever, you have unlimited access to information, and you can execute a trade from the device sitting at your fingertips right now. It’s easy and it’s tempting to fiddle with your investments. Joe Magyer from Lakehouse Capital says studies show that... Show More

Emerging markets were volatile throughout 2018, especially during quarter four as they sold off and took some valuation froth out of the market. This has continued into 2019 thus far, but as investors, it’s important to step back and take a longer-term view of the situation. I recently sat down... Show More

With Australian investors love of resources and a passion for dividends, it seems incredible that a company could yield over 24% in a commodity with strong fundamentals and growth drivers. Show More

Nearmap (NEA) released another impressive set of results on Wednesday, with strong numbers across all of its key KPIs. Annualised contract value (ACV) growth was consistent with what the company had pre-released in January, whilst the benefits of scale manifested in healthy growth in gross margins, EBITDA and bottom-line profitability.... Show More

Reporting hit a peak today with around 35 companies out with results and once again, we’ve had some significant moves across the market. From what I can see 25 large cap stocks rallied more than 4% while 14 large caps fell by at least the same margin. We also has... Show More

Stockland announced their 1H19 results this morning. Conditions remain challenging for the group with a deterioration in housing market conditions, reduced credit availability, political uncertainty and weakening consumer sentiment all weighing on performance. This will likely see the group’s full-year results at the lower end of FFO (an earnings/ cashflow... Show More

The Australian economy performed well during 2018 with rising GDP, lower unemployment and stable inflation. Despite this, the outlook for 2019 is not as positive, as a number of factors are beginning to point to downside in the Reserve Bank of Australia (RBA) achieving their policy mandate including low inflation,... Show More

Corporate Travel Management (CTD) has been one of the most topical stocks on the ASX in recent months, specifically due to being the target of a well-publicised, short report at the end of October 2018 which sent the share price tumbling from ~$28/s to ~$20/s in one trading session. Since... Show More

Never before has the Australian small and mid-cap equity market experienced such a broad variety of Australian and NZ-based businesses achieving stellar success in overseas markets. Where offshore expansions have long been an investment graveyard for larger-cap Australian businesses desperately looking for growth avenues to supplement mature domestic market positions... Show More

Value investors often look for beaten-down stocks that have sold off on temporary news or set-back that leaves their long-term value intact. The two companies below show a different kind of deep value scenario. Show More

ASIC considering up to 40 court cases following Royal Commission; Self-driving cars will change the face of auto-insurance, and there’s a US-based start-up set to take advantage of it; and hedge funds load up on US tech stocks following Q4 sell-off. Here’s what’s happening in markets today. Show More

January 1996. My wife was 8 months pregnant with our first child. I was a proprietary trader at Bankers Trust (had been since 1991), meaning I took macro views on interest rates and currencies. Indeed, very similar to what I do now, but with the bank’s capital rather than investors’... Show More

The mining industry collectively had to address a range of issues to ensure survival between circa 2011 and 2015. Having met the top of the market with bloated balance sheets and unsustainable costs, austerity was rolled out. But unlike many mining initiatives there were no commemorative shirts or hats. The... Show More

Another hugely interesting day and we’ve just had BHP across the ticker to round things out (I have done a quick recording below after the numbers dropped). Six large caps dropped more than 6%, a couple by more than 20% while on the flipside, five stocks in the top 200... Show More

Perhaps simply ‘queasiness’ is more fitting. Certainly that’s an apt feeling among investors having stomached sharp falls in risk asset prices in the last quarter of 2018, again bringing into focus the question of asset allocation as investors consider the path ahead. While many of the surprise falls reversed, at... Show More

History is replete with examples of businesses and consumers ignoring or dismissing big ideas, particularly those associated with disruptive innovation. In 1876, for example, when Alexander Graham Bell was granted the official patent for the telephone, many businesses dismissed it as irrelevant or insignificant. Famously, Western Union took a pass... Show More