Tom McKay

I recently had the opportunity to sit down for 30 minutes with Hamish Douglass, the CIO of Magellan at their new offices in Sydney. We discussed a wide range of topics from his biggest influences to the most impactful trends that are driving his investment strategy today. During my time... Show More

Tom McKay

Livewire is proud to announce its partnership with one of Australia’s most innovative FinTech companies, Sharesight. Since 2009 Sharesight has been developing a unique, cloud-based, portfolio tracking and reporting tool that makes it easy to understand your trading history and dividends. The software is now used by over 40,000 (happy)... Show More

Tom McKay

KPMG, AWI and the FSC have released their 50 Best Fintech Innovators report for 2014. The report ranks companies that are driving disruption within the international financial services industry and features big global names such as Square, Kickstarter and Xero. We're very proud to see Livewire get a run as... Show More

Tom McKay

Seek out views that are contrary to your own. Vitaliy Katsenelson says When you are long a stock you are naturally trying to seek out investors who share your opinion, and you naturally stay away from those who have contrary views. This is the comfortable thing to do. Instead, we... Show More

Tom McKay

What causes market contagion? Sydney Ludvigson, an economics professor at New York University co-authored a study that found that 75% of short-term stock price movements have to do with changes in investors appetite for risk. It turns out the theory does a pretty good job of explaining the recent tech... Show More

Tom McKay

How do different Asset returns compare year on year? Novel Investor has produced an interactive chart that allows you to compare the performance of various assets over the past 15 years. For every year since 2000 it ranks Large Caps, Small Caps, International Stocks, Emerging Market Stocks, REITS, High-Grade Bonds,... Show More

Tom McKay

JP Morgan: High Yield Bond markets are a major concern. Investors have piled more than $900BN into taxable bond funds since the start of the GFC back in '08. This flood of money has helped prices surge and yields to fall. However JP Morgan and Blackrock are now warning that... Show More

Tom McKay

The mining industry brain drain. When asked about their views on retirement within the next five years, 46% of executives expect to retire from full-time engagements or expect to reduce their workload drastically, MRG observed. 'With nearly half of all mining executive planning to have one foot out the door... Show More

Tom McKay

The Bull/Bear ratio is sending some ominous signals. The percentage of bulls in the Investors Intelligence's survey has reached the highest level since January 2005. It's worth taking a look at the red-shaded areas on figures 2 and 3 to see corrections that occurred immediately after high ratios of bulls... Show More

Tom McKay

How Worried Should We Be About the Negative GDP Report? Ben Casselman says This is just the 10th time since World War II that GDP growth has been negative outside of a recession. Three of those negative quarters immediately preceded recessions. Everyone is blaming the harsh winter and low inventory... Show More

Tom McKay

Beware Chinese companies floating in the US. The Financial Times says investors should be wary of a wave of Chinese IPO's about to list in the US due to accounting/corporate governance issues and a history of poor returns. Between 1993 and 2013 168 companies from Hong Kong and China went... Show More

Tom McKay

What's likely to kill you and your investments? Barry Ritholtz says that just like our inflated fears of sharks and terrorists, we spend too much time as investors focusing on things that are relatively rare - like market crashes. On the flip-side, Ritholtz believes investors ignore little things that are... Show More

Tom McKay

Sell in May? One chart really spells it out. As everyone knows the market is about to enter what has historically been the weakest half of the year. This chart illustrates that investing in the S&P 500 during the six months of November through and including April accounted for the... Show More

From the New York Times: “From a Western market perspective, what China is trying to do cuts against everything we know that will work. But they don’t see this the way we do. People in the Western democracies tolerate volatility. But the failure of equity markets in China could translate into social unrest, which is a horrifying prospect for the Chinese leadership.” http://www.nytimes.com/2015/07/10/business/international/why-chinas-stock-market-bailout-just-might-work.html

On Rule #1 of the Chinese stockmarket -

JP Morgan agrees that’s there’s light at the end of the tunnel for Europe saying “There are a number of key catalysts in place for Europe in 2015” Watch the 1 min video: http://goo.gl/YMceta

On Roubini: There are signs of life in the eurozone -

HSBC's economists Paul Bloxham and Adam Richardson agree... the bar for RBA intervention as very high and unlikely to be met anytime soon. Just speaking about the possibility of intervention was enough to see the Australian dollar sell-off. While the RBA would clearly have welcomed this move, time will tell whether this weakness persists. With much of the weight of the Governor's commentary and the RBA's own modelling indicating that the Australian dollar is not far from fair value and with intervention seen as costly, we still think there is a very high bar set before the RBA would actually consider intervening.

On Glenn Stevens may have opened the door on currency intervention, yet many Analysts think it's unlikely that he will intervene -

It looks like financials may extend those numbers further this year...

On Sell in May -

Thanks for the full update Jay. For anyone that's interested, here's the full FOMC release: http://federalreserve.gov/newsevents/press/monetary/20131218a.htm

On The moment of truth has arrived.. -

Significant turn around for them since May 2013 when they forecasted gold to bounce back to $1600. http://www.marketwatch.com/story/bnp-paribas-sees-gold-above-1600-in-6-months-2013-05-10

On BNP Paribas cut its 2014 gold forecast to $1095 -

China has just lifted the ban on Facebook but only for people in Shanghai. Will be interesting to see the takeup. I'm guessing due to the exclusivity and desire for Chinese to understand what's going on in the rest of the world it will be good. http://www.dailymail.co.uk/sciencetech/article-2431861/China-lifts-ban-Facebook--people-living-working-small-area-Shanghai.html

On Facebook is close to being dethroned as the world's number one social network (unfortunately not by Livewire) -

Here's the link if you are a member of FT: http://ftalphaville.ft.com/2013/10/30/1681512/bear-hunting/

On Where did the bears go -