Alex Shevelev

Comparison website iSelect’s (ISU) half year results last month showed revenue falling 12% on the previous December half. For most companies lower revenue would mean sharply lower profits. Not for iSelect. Profit was up 79%. Why the disparity? Show More

Equities
Alex Shevelev

So far, the market reaction to comparison website iSelect’s (ISU) financial results has been muted. The first half contribution is usually negligible; iSelect does most of its business in March and June. Some of the company’s products are under close scrutiny by regulators. And it's a company that has repeatedly... Show More

Investment Theme
Alex Shevelev

The oil price has been on a rollercoaster for the past five years. From the depths of US$28 per barrel in early 2016 the price rose to US$85 per barrel last October. Things seemed to be going well for oil producers and service providers. But it was short lived. Oil... Show More

Alex Shevelev

The housing market has taken a nosedive this year. And furniture retailer Nick Scali (NCK), our short pick for Livewire last December is feeling the heat. The stock price is down about 20%. But the company is still to see the worst of the housing market pain. So here’s why... Show More

Alex Shevelev

For a while there Lovisa (LOV) was a bright spot in Australian retailing. A domestic success story conquering the world. But that was a few months ago. In October the company’s share price is down 26% after a poor sales update. Investors’ love affair with Lovisa seems to be falling... Show More

Alex Shevelev

Newspaper headlines like “House prices continue to tumble nationally” are now everywhere. While we have been worried about the potential for a housing correction for a long time, what was theoretical has become actual. Prices are down and it’s no longer the fringe doom-sayers that are predicting further falls. It... Show More

Alex Shevelev

Last month Axsesstoday (AXL) was on its way to becoming a market darling. Today it is suspended from trading. The CEO is gone. The stock was already down by a third and things won’t be pretty if it ever trades again. It’s a tale of growth turned disaster. Show More

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Livewire Exclusive

As the old saying goes; “one man’s trash is another man’s treasure”. And nowhere is this truer than the sometimes-scary world of deep value and contrarian investing. Some of the stocks mentioned here have fallen 80% or more from relatively recent highs, and have fallen off the radar of index... Show More

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Livewire Exclusive

10 years into a bull market, and with most major indices showing triple-digit percentage gains from their lows, finding value is tough. Compounding the challenges, ‘value stocks’ by the traditional definition have underperformed throughout this period. Despite this, some value investors are still posting outsized returns. If history is any... Show More

Hi Nick and Wayne - fair points. Just highlighting Wayne's good point on property costs. The $62m of extra land and buildings should (at say a 6% cap rate) be about $3m of pre tax net rent savings ($3.7m less an extra $0.7m of depreciation). After tax that is $2.1m, good for an extra 0.8% of net margin benefit through owning the property. Of course keeping in mind that it ties up capital. I'd still be on the side of the new store rollout being curtailed/cut if same store sales falter.

On Party coming to an end for Nick Scali -