The 1980s saw the emergence of Apple and Microsoft as major global technology players. It was PC versus Mac; Steve Jobs versus Bill Gates. Fast forward to today and Microsoft is the world's largest company with a market value of just over US$ 1 trillion. Apple is not far behind,... Show More
I’m writing to you from New York following a week of meetings with companies, investment banks, analysts, strategists, fund managers and executives.The timing of the trip coincided with a bout of heavy volatility breaking out on Wall Street, largely as a result of the trade dispute. It’s helpful to be... Show More
Last month we saw the FED raising rates for the 9th time in the last 3 years, now to 2.25-2.5% per annum. Also, this month, the FED might keep its Quantitative Tightening (QT) program to US$50 billion per month, in order to reduce its inflated balance sheet. Show More
2018 was the year of living dangerously as far as the stock market was concerned. The year began with a bang, cheered on by the global growth squad. However, unbridled risk taking eventually led to negative returns later in the year. Show More
Apple significantly reduced its guidance for the December quarter, blaming China and a few other factors for the shortfall. This is Apple's first negative pre-announcement in over a decade, since at least the launch of the iPhone. The announcement came after the US market closed and Apple's shares are trading... Show More
When it comes to investing, Australians forego their ‘globetrotter’ reputation and rarely look past local companies. In consumption, however, we are far worldlier and have embraced international brands such as Apple, Samsung, Google, BP and Toyota. Show More
If you can find a cheap stock in this market, are you buying value or buying a value trap? In this video, Warryn Robertson, Portfolio Manager at Lazard Global Equity Franchise lists the key metrics in this decision, and flags what he sees as the biggest structural value trap in... Show More
Finding value in Australia can be tough. With so few major companies, and so many fund managers hunting for the best ideas, value can disappear as quickly as it arrives. By way of illustration, the world’s largest company (Apple) currently trades on a lower multiple than Amcor or Brambles. In... Show More
10 years ago, the Apple iPhone was released. Through the power of technology and population, this pocket-sized supercomputer changed the world as we know it. “You could argue that the combination of the iPhone and Facebook gave us Donald Trump,” Charlie Aitken, CIO of Aitken Investment Management, told a packed... Show More
The first thing you learn about being contrarian is that humans don't normally like to act this way. As the cartoon suggests, we're a social animal. We like to stick together. When we were all living in the jungle and someone yells, "Run! Lion!" it’s the contrarians that get eaten.... Show More
