Opinion
Marcus Tuck

Bloomberg keeps a regularly updated list of the world's wealthiest billionaires on their website. The current Top 10 can be seen below. What is interesting besides the sheer scale of the numbers, is the dominant influence of technology companies. They are responsible for 6 of the Top 10 fortunes, specifically... Show More

Equities
Marcus Tuck

Around this time of year, for the past two years, we have published on Livewire the results of our quant screening of Australian stocks, in search of companies that meet our particular metrics around valuation, expected EPS growth and balance sheet safety. One thing they all have in common is... Show More

Marcus Tuck

Following the traction Citi achieved with their Global Bear Market Checklist, which is based around the MSCI All Country World Index, Citi have introduced a similar Bear Market Checklist specifically for the US S&P 500 Index. It is built around the same framework of 20 key variables designed to help... Show More

Marcus Tuck

Equity markets are inherently volatile. The flip side of a higher long-term return is higher risk. Circa 10% corrections are not uncommon for equity markets. When they happen they are invariably accompanied by calls of a bear market coming ahead of an impending recession. Occasionally, those calls are right, but... Show More

Marcus Tuck

The S&P 500 Index has finished lower in September more than any other month, or 55% of the time, for an average return of negative 1.01% according to Dow Jones Data Group. Their seasonality chart reproduced below shows the average monthly returns for the Dow Jones Industrial Average, the S&P... Show More

Marcus Tuck

As Warren Buffet put it best: “Price is what you pay. Value is what you get”. And just as an individual share price can be disaggregated into earnings per share (EPS) times its PE ratio, the same thing can be done at a market index level - as we discuss... Show More

Asset Allocation
Alex Cowie

What does the new financial year hold for investors? We asked a panel of nine respected managers from across the markets for the 5 key issues for FY19. Read on for the key points of their analysis on LICs, small caps, big caps, income, fixed interest, growth, global, Asia, and... Show More

Also worth reading the company's response in this announcement to the ASX: https://www.asx.com.au/asxpdf/20190326/pdf/443s4gcpwv1yvk.pdf

On The only 4 stocks to pass our filters -

Thanks Michael. Yes, the Conference Board publish leading economic indicators for several countries, including Australia. You can see them at : https://www.conference-board.org/data/bcicountry.cfm?cid=1 Regards, Marcus

On Why the equity market should resume its advance -

It’s a fair question about Jumbo’s economic moat. Whilst it’s true that the lion’s share of JIN’s revenue is Tabcorp-related lotteries business, it appears to be reasonably secure. In May 2017, JIN expanded its decade-long commercial relationship with Tatts Group, with an extension and expansion of its existing lottery reseller agreements. All current reseller agreements (NSW, Victoria, SA, NT and Fiji) have been extended for five years and then continue on a 12-month rolling basis beyond 2022. The relationship was further strengthened by Tatts subscribing for a substantial shareholding in JIN. Tabcorp is currently the second-largest shareholder in JIN (12.64%), which should encourage strong alignment of long-term interests. The former COO of Tatts is now the MD of Lotteries & Keno for Tabcorp, where JIN had a close relationship with the previous Tatts executives. A competitor, Lottoland, which offers derivative-style products on lottery outcomes, was recently banned from offering any products on the outcomes of Australian lotteries, further strengthening JIN’s competitive position. A small but fast-growing part of JIN’s business is Charity Lottery sales, which represents a key growth area away from traditional lottery offerings. Regards, Marcus

On The only 6 stocks to pass our filters -