PM Capital tackles a big issue with Listed Investment Companies

PM Capital

The arguments for using Listed Investment Companies (LICs) are numerous and the burgeoning LIC offering on the ASX means investors now have more choice than ever. One of the biggest frustrations for many investors is the fact that LICs will often trade at a discount to their Net Tangible Assets... Show More

3 areas to watch this earning season

PM Capital

This Australian earnings season gives us an insider’s view of the health of the different sectors in which our portfolio holdings operate. This is even more important this time around, given macroeconomic statistics are giving contradictory indications. Business confidence indicators are at their highest levels in three to five years.... Show More

On the ground: Insights from Europe

PM Capital

PM Capital's Chief Investment Officer Paul Moore and Portfolio Manager John Whelan recently completed a research tour of the United Kingdom, Ireland and Spain. In this video, Paul and John review their tour, sharing insights which show us that some current market beliefs are misconceptions, and that new opportunities are... Show More

Why Seek’s potential privatisation of Zhaopin isn’t sparking high fives all round

PM Capital

Late last month Australian online employment classifieds company Seek Limited announced it was in advanced discussions with majority owned Chinese compatriot Zhaopin regarding a potential privatisation at US$18 per American Deposit Shares (ADS). Typically, the receipt of a potential takeover offer is met with high fives amongst investors. However, in... Show More

Ben, Thanks for your comments and you are correct that Las Vegas, particularly in the 1990’s overstepped the mark in the transition to a ‘family destination’. However, to clarify, in regards to ‘family friendly’, we are referring to the opening of the market to a new percentage of the population that visit these gaming centres for reasons other than gambling; mass market focused, non-gaming entertainment and retail experiences. On visiting both Macau and Las Vegas, it’s clear that these two gaming centres are at different points of the continuum in their evolution. In regards to the gaming element, there is also a palpable transition towards mass-market gaming from the dominance of “high-rollers” in Macau. In our view this is a natural and secular transition of the middle-class in Asia in addition to the improvement in access/infrastructure and may likely continue for decades to come. We hope this clarifies our position and thanks again for the discussion point, regards PM CAPITAL.

On 2 global thematics looking attractive now -