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I run a fund. The recent 13.2% fall in the ASX 200 has caused us all to do some hard thinking. You have to decide, is this the start of a long bear market, or is it an opportunity? Whilst clearly talking my own book as a fund manager, I... Show More

At the recent Future Generation Investment Forum, I nominated two of my best stock ideas. One, a domestic play with EPS growing at 20% over the next three years and the other, an international stock we think is set to double over the next five years. Show More

Despite some claims that ‘home market biases’ are ‘irrational’, several theories have been put forward to explain the observed bias. For fixed income investors, one theory relating to the management of Real Exchange Rate (‘RER’) risk may assist investors to further optimise their investment outcomes. Show More

I know I’m not alone in saying that watching old episodes of Seinfeld is one of my favourite ways to unwind – I’ve even done the Kramer Reality Bus Tour in New York! Yet it came as a bit of a surprise when the episode ‘The Opposite’, where George Costanza... Show More

There’s not only a widening wedge between the US Federal Reserve (Fed) and all the other central banks, but between the Fed and Trump as well. We take a look at the policy rate differential between the US and just about everyone else, and why you could expect something to... Show More

After twenty months of political brinkmanship and the painstaking negotiations of a small army of technocrats, the UK parliament votes on Tuesday on a Brexit deal that Theresa May’s government has negotiated with the EU. The vote is almost certainly going to fail. Show More

The market opened reasonably well this morning considering the soft leads overseas plus net negative news flow out over the weekend – a drop of 40pts early felt optimistic and that proved correct as stocks were sold down hard throughout the day, led lower by weakness across Asia along with... Show More

The market has fallen through November lows to touch levels not seen since 2016. Tune in to this thematic discussion in which Matthew Kidman asks Tobias Yao and Arden Jennings if this really is a dip, or whether it’s time to run for the hills? Show More

Like many companies exposed to China, the share prices Macau casinos like Sands China, MGM China and Wynn Resorts have been volatile. Kevin Bertoli, Portfolio Manager, Asian Strategies, recently travelled to Hong Kong and Macau and reports that the industry structure is improving and valuations look attractive for long term... Show More

30 years ago, private equity was uncrowded, and less competition meant better deals. Intense competition today means higher valuations, leading to a lower margin of safety. Adrian Warner, Managing Director and CIO of Avenir Capital argues here that public equity markets now offer better pricing opportunities. Show More

Income investors relying on ASX blue-chips have been under increasing pressure. However, another source of income has returned to the top end of the market. Speaking at a recent event held by IRESS and Livewire, Peter Gardner from Plato Investment Management identified a long-absent income opportunity back on the menu. Show More

With 2020 just 13 months away, now is a great time to take a step back and think about the long-term. 10 years ago, the top 10 companies in the world were dominated by energy and Chinese companies. Today, seven of the top 10 companies are technology companies. In this... Show More

Over the course of 2018, the Royal Commission into Financial Services has provided numerous examples of the conflicts of interest inherent to the vertically integrated model of financial advice. In this model, the financial adviser is often incentivised to direct their client's savings onto an investment platform and then invest... Show More

It has certainly been a volatile week, with an overload of information both locally and globally for markets to digest. Markets remained in a risk-averse mood, and equities have fallen sharply. The Aussie dollar has also underperformed, being the weakest G10 currency this week. Show More

It’s been one of those weeks with a lot happening under the hood – lots of volatility – however when we look at the actual moves overall, we’ve simply edged slightly higher which actually feels like a win! Today, the market was positive, more so in the morning, however we... Show More

Almost universally weak performance of fund managers over the last two months has left many advisers and their investors in shocked disbelief, or hiding under their sheets unwisely hoping for a change in market conditions. It has been almost impossible for those with active manager portfolios to avoid at least... Show More

When asked for a strong investment idea on Livewire's Buy Hold Sell, Matt Williams offered up Origin Energy (you can see it here). So, for Livewire's 2018 season of Christmas Crackers, Matt expands on our investment case for this compelling opportunity in the ASX Top 20. Show More

In investing, there’s real value in knowing how much something is actually worth. And nothing better illustrates that fact than the three-year tussle for control of Investa Office Fund (IOF), a now former holding of the APN AREIT Fund. Show More

Think of a business that is going to return US$25 billion back to shareholders over three years, is able to grow total shareholder returns in the mid-teens and trades on a P/E of just 24 times. That’s the business we talked about at the Future Generation Investment Forum in the... Show More

Today I write (very short excerpt only): "Amidst the daily market chaos we can state a few things with certainty. First, the volatility of volatility (or the volatility of the VIX index in the US) is at a record high as investors struggle to figure out where fair value for... Show More