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          <time datetime="2023-05-05T17:35:01+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">May 05, 2023 17:35</time>
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              Investing in an economic downturn
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  Making money during a recession. Here we share how Pella Funds Management has employed different strategies to do exactly that. 
</div>

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        Pella Funds Management
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            <a class="pre-header-sm lg:pre-header-md uppercase text-primary hover:underline" href="/categories/daily-report">Daily Report</a>

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          <time datetime="2023-05-05T16:27:49+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">May 05, 2023 16:27</time>
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              The Match Out: ASX ends a tough week on the front foot, solid results from ANZ &amp; Macquarie, CBA think rates have now peaked
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  The daily Match Out with Market Matters&#39; James Gerrish for Friday 5 May
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        Market Partners 
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          <time datetime="2023-05-05T15:32:52+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">May 05, 2023 15:32</time>
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              The best bits of fixed income are back
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  The landscape has changed with conditions now likely to provide many of the defensive attributes that investors have traditionally expected
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              Pharma and Biotech companies on the move in April
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  April continued to be a strong month for Australian pharma and biotech companies with a number of successful trials, and contracts, with potential for global...
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        Independent Investment Research 
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          <time datetime="2023-05-05T14:45:36+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">May 05, 2023 14:45</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>Is this the least crowded opportunity in the market <span class="whitespace-nowrap">today?<svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" id="embed_podcast" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  Fifth Estate Asset Management are launching a fund because they believe it is
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              10 ASX companies dominating this game-changing investment theme
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  Net-zero commitments amount to more than US$10 trillion in assets across 273 asset managers between now and 2050
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    <div data-controller="tooltip">
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  <div>
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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Aurizon Holdings Ltd</div>
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</a>    <div class="px-4 mt-0.5">
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    <div data-controller="tooltip">
  <a aria-label="BHP" data-controller="event" data-event-name-value="link_click" data-event-id-value="55465" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-bhp">
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  <div>
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</a></div>

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  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="372" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-bxb">
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            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full max-w-[60%] ">
              Why the income is back in fixed income (and is here to stay)
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  Bonds could outperform even if rate cuts don&#39;t come until 2024. Darren Langer of Yarra Capital Management explains why. 
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        Livewire Markets
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          <div class="sm:flex-grow">
            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full max-w-[60%] ">
              The Fed is a comedy act
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Jay Powell says the US banking system is &#39;sound and resilient&#39; as regional banks melt down. If it wasn&#39;t so serious, it would be hilarious. 
</div>

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      <div>
        Fat Tail Investment Research
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              Are Telstra shares good value?
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  For 5 years we&#39;ve been increasing our exposure to this Aussie market darling. Here&#39;s why
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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 type of stocks to buy to potentially avoid the market <span class="whitespace-nowrap">carnage<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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  Epoch Investment Partners outline the factors they believe will drive equity returns in 2023. 
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              &quot;All bear markets end&quot; – what history tells us about the prospects of growth companies
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  TDM&#39;s 2023 market memo emphasises what we believe is a simple truth: if we own high quality businesses at great prices, time is our friend
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        TDM Growth Partners
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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>A closer look at the ASX takeover <span class="whitespace-nowrap">surge<svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" id="embed_podcast" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  Hear from Sinclair Currie and Tim Binsted from NovaPort Capital, as they discuss recent M&amp;A activity in the Australian market. 
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</div>

    <div data-controller="tooltip">
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</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="318" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-bhp">
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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">BHP Group Ltd</div>
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</a>    <div class="px-4 mt-0.5">
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</div>

    <div data-controller="tooltip">
  <a aria-label="BKL" data-controller="event" data-event-name-value="link_click" data-event-id-value="55406" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-bkl">
    <div
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>
  <div class="flex items-center gap-2">
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</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="340" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-bkl">
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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Blackmores Ltd</div>
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</a>    <div class="px-4 mt-0.5">
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      +8
</a></div>

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</a>  <div class="hidden" data-tooltip-target="content">
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  <div>
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</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="910" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-hls">
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</a></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>Don&#39;t bank on the pivot: 3 global stocks to navigate macro <span class="whitespace-nowrap">uncertainty<svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" id="embed_podcast" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  Despite the uncertainty following the largest bank failure since the 2008 financial crisis, global equities rose during the first three months of 2023. Index...
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              Uranium getting a glow as North America puts nuclear power ‘front and centre’
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  Cameco chief highlights opportunity awaiting emerging producer Boss and 92 Energy, which unveiled bumper results. Plus, Meteoric’s resource.
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            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full max-w-[60%] ">
              The critical minerals &#39;arms&#39; race
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  The world is in the midst of an unprecedented energy transition which will be driven by a massive deployment of a wide range of renewable energy technologies. Many of...
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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>Buy Hold Sell: 5 high yielders trading at compelling <span class="whitespace-nowrap">prices<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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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  In this episode, Plato&#39;s Peter Gardner and Antares&#39; Andrew Hamilton analyse five dividend stocks that haven&#39;t re-rated this year. 
</div>

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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Harvey Norman Holdings Ltd</div>
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    src="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBK0hmQVE9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--ca3235792f1cbdd00bac5674093c138bfd6c95a8/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/Tony_6950F%20-%20Copy.jpg"
    srcset="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBK0hmQVE9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--ca3235792f1cbdd00bac5674093c138bfd6c95a8/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/Tony_6950F%20-%20Copy.jpg, https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBK0hmQVE9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--ca3235792f1cbdd00bac5674093c138bfd6c95a8/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--d4026b52d9aa7a676b3d70dbe31c85d930184392/Tony_6950F%20-%20Copy.jpg 2x"
    alt="Tony Sutton"
    style=""
    loading="lazy">
</picture>
</a>    </div>
  <div id="profile-link" class="text-heavy-sm md:text-heavy-md text-darkestgray">
    <div>
        <span class="profile-name-hover-container" data-controller="event tooltip" data-event-name-value="contributor_hover_view" data-event-id-value="37334" data-event-statisticable-value="profile" data-event-custom-data-value="{}" data-event-event-value="mouseover" data-tooltip-url-value="/hotwired/hovercards/37334/contributor">
          <a class="hover:underline mr-1" data-controller="event" data-event-name-value="link_click" data-event-view-name-value="summarized_longform_wire_view" data-event-id-value="37334" data-event-statisticable-value="profile" data-event-custom-data-value="{&quot;position&quot;:8960,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" href="/contributors/tony-sutton">Tony Sutton</a>
</span>    </div>
      <div>
        Sintra Capital
      </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-55453" data-load-engagement-count-target="like" data-wire-id="55453" data-position="8960">
                <button
  class="lw-button tertiary_gray xs icon-only "
  
  data-turbo-stream-url-value="/hotwired/likes/55453/wire/8960/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="55453" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:8960,&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-55453" data-load-engagement-count-target="comment" data-wire-id="55453" data-position="8960">
    <a
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  data-controller="
    event 
     
    
    
     
  "
  data-controller="event" data-event-name-value="wire_comment_click" data-event-view-name-value="" data-event-id-value="55453" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:8960,&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-55453" data-load-engagement-count-style-value="listing" data-load-engagement-count-target="stats" data-wire-id="55453" data-position="8960" data-style="listing" data-device-type="desktop"></div>
          </div>
        </div>
      </div>
    </div>
    <div class="flex flex-row-reverse">
        <time datetime="2023-05-04T21:21:47+10:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">May 04, 2023 21:21</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=2023-05-04+21%3A21%3A47+%2B1000&amp;last_position=8960"></a>
</template></turbo-stream>
