Another day where sellers dominated for much of the session, although it was choppy and early weakness was offset by better than expected jobs data out at 11am. That prompted some strong buying amongst the banks simply given its another incremental piece of data that goes against the growing calls... Show More
Do you remember last year when US 10-year government bonds cracked 3%? I do. Everyone started talking about flattening yield curves, a potential recession in the US and Jamie Dimon said the 10-year could hit 5%… Show More
With the February 2019 reporting season upon us, we were interested to see that one of the largest holdings in the AMP Capital Australian Emerging Companies Fund plan to release their half-year results a week earlier than in previous periods. Show More
James Marlay
Interesting findings, which company moved their reporting date forward?
Matt Griffin
Hi James, it's Service Stream (SSM)
Our conclusion upfront. Simply put, for the patient capital, emerging markets are looking attractive at current levels given the de-rating seen in 2018. High quality companies with growth drivers leveraged to structural changes in EM will withstand the vagaries of the market. Whilst 2019 has started on a more optimistic... Show More
We witnessed an almost perfect “about face” last year from most of the market on interest rates with the start of 2018 all about rising interest rates / bond yields on the back of bullish economic & stock market predictions, while the second half focussed on a looming recession and... Show More
My investing was never the same again after I discovered this. The hidden power of fundamental inflection points radically improved my investing results. Show More
Ahmet Ozaydin
Good article Matt. What is your assessment of Telstra as a turnaround candidate? Share price is at 20 year low and its price chart looks promising (technicals-wise). Could 5G and staff s [...]
Matt Joass
Great question Ahmet. As I mentioned in the article, I try to rely on observation instead of forecasting wherever possible. 5G is a great example. One could forecast 5G will be a huge bo [...]
Emanuel Datt
Nice read Matt. I would add an additional point: the 'false start' where a company may appear to be at or past the inflection point; but ultimately underperform. Example: SAAS themed, AS [...]
Ray Dalio grabs headlines with US recession calls, China’s President holds an emergency huddle, Afterpay regulation (storm in a tea cup) and the 8 nominees for Australian of the Year. Show More
Attending the Consumer Electronics Show (CES) held annually in the US is always an amazing experience. 180,000 people from 150 countries with 4,500 exhibitors spread over 2.9 million net square feet of exhibit space. It is pitched as the Global Stage for Innovation and it doesn’t disappoint! Show More
East Coasters can learn a lot by looking West - the home of the Boom & Bust! Because West Australia's economy is typically driven by the mining sector, it is very cyclical in nature. When iron ore and commodity prices crashed around 2012, so too did the WA economy. Show More
Investors have likely heard asset allocation specialists advise increasing portfolio exposure to 'alternatives' given the current market conditions. Invesco's Alternatives Investment Strategist, Walter Davis, explores this asset class and suggests 5 alternatives to consider right now. Show More
Each half, as part of our outlook for the coming six months, we provide a series of “anti-forecasts” for what will NOT happen over this period. In one sense, this is a light-hearted way to approach the vagaries of forecasting to look at things from the opposite perspective. But on... Show More
A weaker session today across the board with Asian markets trading in the red for much of the day, Hong Kong down around ~1.3% the hardest hit in the region while US Futures opened fairly flat, before sellers came in around lunchtime. Relative to yesterdays close, Dow Futures were down... Show More
The death last week of the founder of Vanguard, Mr John Bogle, offers a timely reminder of the upheaval in the asset management industry brought about by the advent of index investing around four decades ago. Show More
The article below is Narrow Road Capital's submission to the current APRA consultation process on bank capital levels. APRA has rightly recommended that the major Australian banks need to hold more tier 2 capital to ensure that their capital position is unquestionably strong. For the sake of a few basis... Show More
Paypal founder Peter Thiel predicted in his 2014 Wall Street Journal essay ‘Competition is for losers’ that Silicon Valley would become the centre of the global economy. He claimed that by operating under a set of rules that involve little competition or regulation, his own company, along with the likes... Show More
Ngaire
Yeah, like Australia, Israel, China..
The hail storm that hit Sydney late last year made a lot of headlines, but has not changed our fundamental view that insurance is an attractive sector in the current environment. Losses from weather events are part and parcel of running an insurance business. While they introduce profit volatility and... Show More
Investors have had stimuli like QE and low interest rates to help drive growth in recent years. While the US leads a small retreat of liquidity, the fundamental parts of our future, such as technology and disruption, are progressing just fine and they’re the drivers of real wealth. We recently... Show More
The Future Fund ups their risk levels; China's economy is slowing on the back of weakness in both industry and consumer; and Jeff Gundlach gets spooked off Twitter. Here's what's happening in markets today. Show More
Utilities are often seen as a ‘port in a storm’, a defensive sector during periods of market stress. Is this where investors should be looking to take shelter should 2019 present another year of challenging equity markets? We give four reasons why the utility sector’s safety is overrated. Show More
In early 2017 we identified debt and the unsustainably high property prices as the key risks to the Australian economy. In particular we were concerned about the unwinding of the wealth effect as investors began to feel the pinch of a weaker property market. We believed this would manifest itself... Show More
Aleksandar Bogdanovic
Firstly, thank you for sharing your stance and thoughts. Considering your writting is unsual and unconventional- positively- I would be useful for everyone if you call-in more often.