John Deniz

We have previously discussed A$ gold as a hedge to global market volatility, and highlighted our particular interest in Australian gold producers that boast high-margin, low capital-intensity assets with solid mine life and/or exploration upside. Dacian Gold, discussed below, was acquired in a period of volatility, providing an attractive price... Show More

John Deniz

We initiated a short position in Telstra in February 2017, premised on rising mobile & broadband competition, which was likely to impact on Telstra’s growth outlook. Rising 10-yr bond rates make it a double-whammy for Telstra, which we also view as a bond-proxy. Show More

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