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
At around $1.9 trillion Australian dollars, the Australian equity market is a minnow by global standards. It represents roughly 2% of global equity markets. Said another way, by only owning Australian shares, you are missing 98% of the world's investment opportunities. Show More
Buybacks can support stock prices by reducing share counts and boosting earnings per share, although that is no guarantee of producing a rising share price. Fundamentals such as revenues, underlying earnings trends, competitive prospects and interest rates still count for more. Show More
The FAANG stocks (Facebook, Amazon, Apple, Netflix and Google/Alphabet) led the market up and participated in the recent correction. Their latest profit reports are an important guide to the sustainability of the tech sector's rise. Here we argue that on a Price Earnings Growth basis, they still look sharp. Show More
In the twelve months to Monday of this week, the S&P500 index is up 15.02%, while Alibaba is up 80%, Google is up 29.3%, Amazon is up 71% and Apple is up 24%. By contrast, Exxon is down 5.6%, Coke is up 7.6% and General Motors is up 11%. To... Show More
Small and medium-sized fintechs could struggle to compete with Australia’s large banks. However, the global tech giants could cause major problems for the banks - if they targeted wide spread general commercial banking. Show More
It has been about 10 years since the Global Financial Crisis (GFC) began to unfold. Very few were prepared for the financial damage that ensued. And it has permanently impacted the psyche of many market pundits. Since then, there has been no shortage of bear market predictions and lately there... Show More
If you think so, you aren't alone - complaints and conspiracy theories are all over the internet. This goes to the core of the biggest question right now for technology investors: will Apple's customers upgrade their phone, or will the 'iPhone Supercycle' fizz. US$3 trillion is riding on the answer. Show More
This week we saw Apple’s share price suffer a hangover from the launch of the iPhone 8 and iPhone X. Tesla surprised the market with the rumour that it is partnering with AMD for an autonomous driving chip, knocking Nvidia’s shares. Google bought HTC’s Pixel hardware team. And amusing (and... Show More
On the topic of valuation, Professor Aswath Damodaran is one of the greatest communicators of our time. Recently, he sat down with another famous NYU professor, Scott Galloway, to discuss the valuations of some of the world’s leading technology companies. Professor Galloway is known for his engaging TED-style talks where... Show More
With plenty of buzz about the FANG stocks, the next time you think of the word FANG, think about the underlying power of the business models and applying this to other stocks. Show More
Common perception, particularly in Australia, is that doing business in India is difficult, unfruitful and has many challenges ranging from sovereign, cultural and execution risks. Quite often perceptions are shaped by prior experiences and travel to India in prior decades. Show More
Livewire recently interviewed Nick Griffin, Chief Investment Officer of Munro Partners, to ask him the criteria he uses to identify great growth companies, what the market has wrong at the moment, and how he goes about finding the next digital winners. Show More
