<turbo-stream action="append" target="latest-wire-list"><template>
  <div data-controller="load-engagement-count">
    <div class="wires-container divide-y divide-gray-200 w-full">


    <div class="flex border-t border-gray-200">
      <div class="py-6 md:py-8 lg:py-10 w-full" >
        <div class="mx-0 sm:flex sm:items-start">
    <div class="w-full sm:flex-grow order-2 wire">
      <div class="flex items-center">
        <div class="flex flex-col-reverse flex-grow sm:flex-row">
            <a class="pre-header-sm lg:pre-header-md uppercase text-primary hover:underline" href="/categories/asset-allocation">Asset Allocation</a>

          <div class="__Wires_TolTagComponent_40656 w-36"></div>
        </div>

          <time datetime="2019-03-05T14:49:34+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 05, 2019 14:49</time>
      </div>

      <div class="relative">
        <div class="absolute -top-2 lg:top-0 -left-3">
          <div class="wire-menu relative" id="Home_WireComponent__dropdown_menu_40656"></div>
        </div>
        <a class="group block sm:flex hover:no-underline visited:text-darkestgray text-body" data-controller="event" data-event-name-value="link_click" data-event-view-name-value="summarized_longform_wire_view" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:20101,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" href="/wires/the-morning-after-the-night-before">
          <div class="sm:flex-grow">
            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full ">
              The morning after the night before
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Fourth quarter 2018 saw the market essentially pricing in a recession via a strong risk-off sell down; economically sensitive (cyclical and financial) stocks were hit...
</div>

          </div>
</a>      </div>
        <div class="pt-4 pb-4 sm:hidden">
          <div class="flex gap-2">
    <div data-controller="tooltip">
  <a aria-label="ANZ" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-anz">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">ANZ</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="231" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-anz">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">ANZ Group Holdings Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:ANZ</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-231">
            Followed by<span class="font-bold text-gray-700"> 7317 </span>people
        </div>
          <div 
  class="follow-stock-code-231-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="231"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="COH" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-coh">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">COH</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="508" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-coh">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Cochlear Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:COH</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-508">
            Followed by<span class="font-bold text-gray-700"> 357 </span>people
        </div>
          <div 
  class="follow-stock-code-508-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="508"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="IFL" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-ifl">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">IFL</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1032" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-ifl">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Insignia Financial Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:IFL</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1032">
            Followed by<span class="font-bold text-gray-700"> 125 </span>people
        </div>
          <div 
  class="follow-stock-code-1032-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1032"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <a class="px-1 py-0.5 text-bold-md text-nav-item" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/wires/the-morning-after-the-night-before">
      +5
</a></div>

        </div>
        <div class="pt-4 pb-4 lg:pb-2 hidden sm:block">
          <div class="flex gap-2">
    <div data-controller="tooltip">
  <a aria-label="ANZ" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-anz">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">ANZ</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="231" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-anz">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">ANZ Group Holdings Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:ANZ</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-231">
            Followed by<span class="font-bold text-gray-700"> 7317 </span>people
        </div>
          <div 
  class="follow-stock-code-231-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="231"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="COH" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-coh">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">COH</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="508" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-coh">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Cochlear Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:COH</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-508">
            Followed by<span class="font-bold text-gray-700"> 357 </span>people
        </div>
          <div 
  class="follow-stock-code-508-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="508"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="IFL" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-ifl">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">IFL</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1032" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-ifl">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Insignia Financial Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:IFL</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1032">
            Followed by<span class="font-bold text-gray-700"> 125 </span>people
        </div>
          <div 
  class="follow-stock-code-1032-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1032"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="JHX" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-jhx">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">JHX</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1050" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-jhx">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">James Hardie Industries Plc</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:JHX</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1050">
            Followed by<span class="font-bold text-gray-700"> 214 </span>people
        </div>
          <div 
  class="follow-stock-code-1050-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1050"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="QBE" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-qbe">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">QBE</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1633" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-qbe">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">QBE Insurance Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:QBE</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1633">
            Followed by<span class="font-bold text-gray-700"> 267 </span>people
        </div>
          <div 
  class="follow-stock-code-1633-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1633"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <a class="px-1 py-0.5 text-bold-md text-nav-item" data-controller="event" data-event-name-value="link_click" data-event-id-value="40656" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/wires/the-morning-after-the-night-before">
      +3
</a></div>

        </div>
      <div class="lg:flex lg:items-center clear-both">
        <div class="mt-2 lg:mt-4">
          <div class="flex items-center">
    <div class="mr-2">
        <a data-controller="event" data-event-name-value="link_click" data-event-id-value="48773" data-event-statisticable-value="profile" data-event-custom-data-value="{&quot;position&quot;:20101,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" href="/contributors/tim-johnston-f77b183e-488b-4a45-a432-2cf2e5acbfbb">
            <picture style="">
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  <img
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              Australian sharemarket wins gold
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  Each year Credit Suisse produces the Global Investment Returns Yearbook in collaboration with the London Business School. It is an analysis of the long-run performance...
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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>Finding stocks that perform through the <span class="whitespace-nowrap">cycle<svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  Nick Griffin, Chief Investment Officer at Munro Partners, says that earnings growth will trump macro uncertainties “time after time”. Stocks that can grow consistently...
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              The ultimate ‘flight to quality’ investment strategy has arrived 
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  Diversifying your bond allocation to reach global markets can potentially accelerate returns by adding a layer of currency risk. As evidenced in 2018 – Australian...
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        Jamieson Coote Bonds
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              ASX hits 5 months high 
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  The Aussie market rallied strongly again today – mostly early with the ASX 200 hitting a 5 month intra-session high of  6240 just before lunchtime and that seemed get...
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        Trusted and Confidential Asset Management Advisors
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          <time datetime="2019-03-04T14:44:38+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 04, 2019 14:44</time>
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  Only everyone that has ever left their parents’ home!  Not many people are aware that the property industry is the nation’s biggest employer. From the crane...
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        Harvest Lane
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        <time datetime="2019-03-04T14:44:38+11:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">March 04, 2019 14:44</time>
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          <time datetime="2019-03-04T13:21:48+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 04, 2019 13:21</time>
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            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full ">
              Big 4 banks to withdraw from NZ?
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  The Reserve Bank of New Zealand (RBNZ) released its consultation paper on bank capital in January with the deadline for submissions now set at 3 May 2019. To recap,...
</div>

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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">National Australia Bank Ltd</div>
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               Is an EU/China trade war next?
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  The following is an extract from a note that was recently sent to investors in the Montaka Global Fund. At Montaka, we believe there are five major forces that will...
</div>

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        Montaka Global Investments
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  One key market that has recently reached a technical turning point is the US 10 year bond yield.  The expectation is for a further increase in yields to occur, with...
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        QMG Pty Ltd
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          <time datetime="2019-03-04T09:17:13+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 04, 2019 09:17</time>
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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>The key to success in emerging <span class="whitespace-nowrap">companies<svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  When investing in emerging companies, it’s the quality of the management team that matters above all else, says Jonathan Pearce, Portfolio Manager at the CVC Emerging...
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  A lot of time and effort is being expended by investors attempting to guess the future path of monetary policy in the US and elsewhere. Irrespective of the economic...
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        Yarra Capital Management
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        <time datetime="2019-03-04T07:45:06+11:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">March 04, 2019 07:45</time>
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          <time datetime="2019-03-04T07:15:06+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 04, 2019 07:15</time>
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              A beneficiary of the improving outlook in China
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  Macau is the largest casino gaming market in the world. It generated gross gaming revenues (GGR) of ~A$53bn in 2018, most of which was derived from mainland Chinese...
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        Ellerston Capital
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          <time datetime="2019-03-04T06:30:08+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 04, 2019 06:30</time>
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              Early access to tomorrow&#39;s leaders
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  The Emerging Companies Fund, under joint management by CVC and Evans Dixon, now gives wholesale investors access to the kind of early-stage investment opportunities...
</div>

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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>Platinum and Magellan: Inside the minds of Australia’s most successful global <span class="whitespace-nowrap">investors<svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  In late December of 2018, I received an email that caught me by surprise. It came from someone I’d never met with an unexpected proposition. The concept was to kick...
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              New 5-month highs, but market fails to hold 6200
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  The US market might have seen its third consecutive session in the red overnight, but locally the ASX is enjoying some time in the sun with its third consecutive...
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        Coolabah Capital
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        <a class="group block sm:flex hover:no-underline visited:text-darkestgray text-body" data-controller="event" data-event-name-value="link_click" data-event-view-name-value="summarized_longform_wire_view" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:20120,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" href="/wires/two-travel-stocks-worth-hitching-a-ride-with">
          <div class="sm:flex-grow">
            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full ">
              Two travel stocks worth hitching a ride with
            </h2>
            
          </div>
</a>      </div>
        <div class="pt-4 pb-4 sm:hidden">
          <div class="flex gap-2">
    <div data-controller="tooltip">
  <a aria-label="JAY" data-controller="event" data-event-name-value="link_click" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-jay">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">JAY</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1058" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-jay">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Jayride Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:JAY</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1058">
            Followed by<span class="font-bold text-gray-700"> 12 </span>people
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          <div 
  class="follow-stock-code-1058-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1058"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="SLK" data-controller="event" data-event-name-value="link_click" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-slk">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">SLK</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1783" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-slk">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">SEALINK TRAVEL GROUP LIMITED</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:SLK</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1783">
            Followed by<span class="font-bold text-gray-700"> 16 </span>people
        </div>
          <div 
  class="follow-stock-code-1783-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1783"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

</div>

        </div>
        <div class="pt-4 pb-4 lg:pb-2 hidden sm:block">
          <div class="flex gap-2">
    <div data-controller="tooltip">
  <a aria-label="JAY" data-controller="event" data-event-name-value="link_click" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-jay">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">JAY</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1058" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-jay">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Jayride Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:JAY</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1058">
            Followed by<span class="font-bold text-gray-700"> 12 </span>people
        </div>
          <div 
  class="follow-stock-code-1058-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1058"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="SLK" data-controller="event" data-event-name-value="link_click" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-slk">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">SLK</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1783" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-slk">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">SEALINK TRAVEL GROUP LIMITED</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:SLK</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1783">
            Followed by<span class="font-bold text-gray-700"> 16 </span>people
        </div>
          <div 
  class="follow-stock-code-1783-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1783"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

</div>

        </div>
      <div class="lg:flex lg:items-center clear-both">
        <div class="mt-2 lg:mt-4">
          <div class="flex items-center">
    <div class="mr-2">
          <picture style="">
    <source type="image/webp" srcset="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdmdJIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--8c80277184a1a351a3c278207a211d607461cb46/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBPZ2wzWldKd09oTnlaWE5wZW1WZmRHOWZabWxzYkZzSGFRSElhUUhJIiwiZXhwIjpudWxsLCJwdXIiOiJ2YXJpYXRpb24ifX0=--1fd30fd39e489c8cda41fffd3d21b2be931eb227/tim_boreham_headshot.jpg" />
  <img
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    src="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdmdJIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--8c80277184a1a351a3c278207a211d607461cb46/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/tim_boreham_headshot.jpg"
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</picture>
    </div>
  <div id="profile-link" class="text-heavy-sm md:text-heavy-md text-darkestgray">
    <div>
        <span data-controller="event" data-event-name-value="link_click" data-event-view-name-value="summarized_longform_wire_view" data-event-id-value="22138" data-event-statisticable-value="profile" data-event-custom-data-value="{&quot;position&quot;:20120,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" class="mr-1">Tim Boreham</span>
    </div>
      <div>
        Independent Investment Research
      </div>
  </div>
</div>

        </div>
        <div class="hidden lg:block lg:mt-4 mx-4 w-1 h-4 border-l border-gray-300"></div>
        <div class="mt-4 flex items-center text-heavy-sm md:text-heavy-md text-darkestgray">
          <div class="flex items-center mr-4">
            <div id="wire-listing-like-40631" data-load-engagement-count-target="like" data-wire-id="40631" data-position="20120">
                <button
  class="lw-button tertiary_gray xs icon-only "
  
  data-turbo-stream-url-value="/hotwired/likes/40631/wire/20120/like"
  data-controller="
    event 
     
    
    
    turbo-stream 
  "
  data-controller="event turbo-stream " data-event-name-value="like_clicked" data-event-view-name-value="" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:20120,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="latest_feed" data-event-ga-action-value="like_clicked" data-event-ga-label-value="" data-turbo-stream-method-value="post"
  
  
  aria-label=home_like
  
  
  
>
  <svg class="home_like">
  <use xlink:href="#home_like"></use>
</svg>

  
  
  
</button>


</div>            <div class="flex items-center ml-1">
              <div id="comment-link-40631" data-load-engagement-count-target="comment" data-wire-id="40631" data-position="20120">
    <a
  class="lw-button tertiary_gray xs icon-only "
  href="/wires/two-travel-stocks-worth-hitching-a-ride-with#comment_body"
  
  data-controller="
    event 
     
    
    
     
  "
  data-controller="event" data-event-name-value="wire_comment_click" data-event-view-name-value="" data-event-id-value="40631" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:20120,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="latest_feed" data-event-ga-action-value="wire_comment_click" data-event-ga-label-value=""
  
  
  aria-label=comment
  
  
  
>
  <svg class="home_comment">
  <use xlink:href="#home_comment"></use>
</svg>

  
  
  
</a>

</div>
            </div>
            <div id="wire-listing-stats-40631" data-load-engagement-count-style-value="listing" data-load-engagement-count-target="stats" data-wire-id="40631" data-position="20120" data-style="listing" data-device-type="desktop"></div>
          </div>
        </div>
      </div>
    </div>
    <div class="flex flex-row-reverse">
        <time datetime="2019-03-01T12:03:16+11:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">March 01, 2019 12:03</time>
    </div>
</div>


      </div>
    </div>
</div>

  </div>
</template></turbo-stream>
  <turbo-stream action="update" target="pagination"><template>
    <a rel="next" href="/hotwired/feeds/latest?cache_prefix=latest_wire&amp;cursor=2019-03-01+12%3A03%3A16+%2B1100&amp;last_position=20120"></a>
</template></turbo-stream>
