CIO Paul Moore and our portfolio managers discuss whether on-the ground research in the age of the internet is worth it, what it produces, and a case study on how research-related travel enhanced the investment case for Altium. Show More
active management
Conventional wisdom typically holds that actively trading positions in your portfolio destroys value. Whether it’s Warren Buffett recommending a “buy-and-hold” strategy, or your advisor recommending against active-trading to minimise brokerage and taxes, there are plenty of experts out there who contend that active trading is inadvisable. Show More
Funds
We take our monthly look at the returns of Australian Microcap Funds. The majority of funds endured double-digit and drawdowns in the Dec 18 quarter. This large drawdown in the last quarter also pulled the majority of the funds negative for the calendar year. Show More
We take our monthly look at the returns of Australian Microcap Funds. While most funds avoided the large drawdowns seen in October the majority still posted small negative absolute returns for November. We can only hope for a late Santa Clause rally to put some gloss on what looks to... Show More
Well, October 18 was a brutal month for microcaps with the S&P/ASX Emerging Companies Index closing down 10.9% for the month, Yikes! Although things have stabilised in November there has been no major recovery of the losses in October. Not that the larger cousins escaped without injury, the S&P/ASX All... Show More
Well, one of the roughest month in a long time is behind us and November has seen a bit of rebound in share markets. Microcap's were one of the worst hit in the last month, with the S&P/ASX Emerging Companies Index returning -10.91% for the month! Other indexes faired somewhat... Show More
BuildingIQ (BIQ: ASX) Is a stock that is completely off the wider investment radar for a reason that will become obvious in due course. That doesn’t mean though it’s not an interesting investment proposition. Show More
Well, the first quarter of FY19 is behind us and it has been tough for microcaps. As I alluded to in my newsletter last month, reporting season overall was pretty insipid as far as microcaps were concerned. This is reflected in the performance of the index with the S&P/ASX Emerging... Show More
MedAdvisor (MDR: ASX) operates in the healthcare IT space, specifically in improving the interaction between pharmacies, patients, drug manufacturers, doctors, and government. MDR provides a fully digital end to end experience for handling medical scripts for prescribed medication, primarily targeting chronic conditions which require ongoing medication management. Show More
At a recent technology conference, I attended there was a whole panel discussion on the opportunities around the use of technology and innovation in the education sector. While not as sexy and almost ubiquitous as FinTech or platform businesses like Facebook and Netflix etc. Education globally is still a huge... Show More
Well, another reporting season has come and gone. After sifting through literally hundreds of microcap results my assessment was that it was a very average reporting season for microcaps. A few standouts with good beats to guidance and strong outlook statements but the vast majority came in soft or missed... Show More
Silex Systems (SLX: ASX) a long time listed uranium play is cutting a forlorn figure these days on the ASX boards. SLX recently announced that it had failed to resolve all the due diligence issues with regards to its purchase of 76% of is GLE joint venture from its JV... Show More
This month we outline four microcaps to watch, and discuss some research from Goldman Sachs on coverage at the small end of the market. We also talk to a high performing microcap fund, and discuss one of the more interesting stocks from their portfolio. Show More
Energy Action (EAX: ASX) has had a very chequered past in recent times. Following a successful IPO and relatively successful early days post IPO the performance under the tenure of the previous CEO Scott Woodridge was a torrid affair from a shareholders point of view. The share price fell from... Show More
Much has been made of the increased popularity of passive investing, and rightfully so. Markets have generated excellent returns over the long term, and index tracking Funds or ETF’s provide very low-cost exposure to highly diversified portfolios. However, in this wire, we explain what it has in common with investing... Show More
We are on the home stretch of FY18 and microcap and small caps indexes have continued to demonstrate strength. Once again, microcaps significantly outperformed large caps. The S&P/ASX All Ordinaries Accumulation Index returned a -3.69% for the Q3FY18. In contrast, the S&P/ASX Emerging Companies Index posted a -1.85% return in... Show More
Veris Limited (VRS: ASX announced another acquisition in its continuing strategy to rollup firms in the surveying and urban/regional planning business. Veris decided to wind down its old OTOC construction business over last 18 months to focus on its surveying and planning strategy. The new acquisition was well received with... Show More
Kip McGrath Education Centres Limited (KME: ASX) has been a long-standing microcap on the ASX. The company provides private tuition for students through a network of franchise tutors. The company has been overhauling its business model and systems in the last few years in order to improve profitability and capture... Show More
Consolidated Operations Group (COG:ASX) is the new incarnation of the old Armidale Investment Corporation (AIK:ASX). COG has been slowly transitioning itself from the old LIC structure to a proper operating business structure over the last two years. COG is now pursuing two main lines of business: Show More
In this wire, I share the team's outlook for Australia's economy and equity markets. Corporate Australia delivered earnings growth of 18% in FY17, with the market relying on Resources to do most of the heavy lifting. Disruptive and cyclical challenges remain a defining feature, but a pick-up in capex, a... Show More
