Asia is offering compelling investment opportunities, though not necessarily in the places one might expect. Fundamental conditions within the region have improved significantly and valuations remain undemanding, particularly relative to the later-cycle US market. Show More
Over the years during Kevin Bertoli’s time travelling to South Korea, often at times when relations were considerably strained, people have always seemed to take the North Korean issue very much in stride. Show More
The year of 2017 was the year of the structural winner, with the market led higher by the digital platform “FAAMNGS” (the acronym keeps extending as the list of perceived winners broadens) and the stylistic domination of Growth. Disruption was never more topical with nothing appearing more disruptive than crypto-currency... Show More
Asian markets have had a very strong year, up 29% year to date in 2017 (in AUD terms). This performance has been driven by a combination of strong earnings growth and moderate multiple expansion. Outstanding market performance in China and India and strong sector performance in the Asian mega-cap technology... Show More
This year MSCI said it plans to add 222 mainland Chinese A-shares to their index. This heralds a further emergence of China (and more broadly Asia) as a signficant market to look out for. We see a range of opportunities in Chinese ports, telecom and select consumer companies. In Japan... Show More
Do investors favour the next big thing, rather than focusing on long term success? Show More
The Shanghai Composite Index originally generated a technical buy signal at 2955 on 18/3/16. At that point the index technical outlook turned positive. Show More
Korea is the epicentre of escalating geopolitical tensions between the US, China and North Korea yet the KOSPI Index is near all-time highs. EAI analyst Eric Fong recently visited Seoul and the Demilitarized Zone (DMZ). The cosmetics and travel sectors remain poor risk/reward while the technology sector continues to offer... Show More
Kevin Bertoli, Portfolio Manager of the PM Capital Asian Companies Fund and the PM Capital Asian Opportunities Fund (ASX:PAF), talks about Autohome, a Chinese online car portal two and a half times bigger than Carsales.com.au. He talks about why the market has marked it down over the past 18 months,... Show More
As the inauguration of President Trump approaches, it is important for investors in Asia to have a view on what his Presidency will mean for the region. We break the issues down into three main categories: trade policy, currency implications and foreign policy. Show More
The reaction of the markets was instructive on the day of the election results. Once the outcome was known, Asian and European markets placed their bets and markets sold off. By the end of the following day’s US trading, they were proved to be 100% incorrect. So even with a... Show More
Want to make a small fortune? Start with a large one and invest in an airline. There are no shortages of jokes about the remarkable ability of the sector to destroy shareholder value. Even the great man himself (Warren Buffet), managed to lose money in airlines with his investment into... Show More
As investors, we believe it is important to develop a framework so we can evaluate emerging technologies to protect and create value. In this article, we use the example of electric vehicles (EVs) to illustrate our approach towards analysing emerging opportunities and identifying the investment implications. We have focused on... Show More
The ASX200 index originally generated a technical buy signal at 5081 on 3/3/16 which was followed by a secondary technical buy signal generated at 5188 on 19/4/16.https://www.livewiremarkets.com/wires/31476 The rally today has resulted in the nominated upside technical target located at 5380 being reached / exceeded - which had been the... Show More
Kevin Bertoli, Asian Equities Portfolio Manager at PM CAPITAL, says that fixed asset investment is the story of last decade in China. “China has had three years of consecutive year on year declines in manufacturing prices. Basically, it’s telling you that there’s too much capacity in the system. That’s telling... Show More
It was significant that technical buy signals were generated simultaneously by key Asian and US indices on Friday - Nikkei, Hang Seng and Nasdaq - which suggests the beginnings of a positive global market momentum / trend change. Index buy signals will still need to be generated in other key... Show More
If you follow the Chinese calendar, 2016 is set to be a year of trickery and turmoil and it all kicks off in the first quarter of 2016, says Saxo Capital Markets’ Asia Macro Strategist Kay Van-Petersen. If you want to know about Kay's trading strategies for equities, commodities and... Show More
It hasn't been much of a break for global investors. The Grinch stole Christmas, with a US rate hike leaving markets confused as to whether they should be worried - it falls by 4% before Xmas - or excited that the wait is over, so it rallies by 4% up... Show More
You can fret over China’s macro outlook, but that’s become an excuse to not own cheap companies like China’s leading search engine, Baidu. Show More
In The AFR I speak to the hedge funds that shorted the major banks and won. I also present analysis on how the major banks' dividend payout ratios have changed over time and how they compare to key peers around the world (see charts below). "We were meeting with planners... Show More
