Today, markets are now thinking about risk rather than what’s on the upside. They’re asking, “what multiple am I paying and what am I going to get from that multiple?”. One way to protect the downside, is to make money on the buy. So, if you get a reasonable multiple,... Show More
In this daily reporting season update, we provide first impressions on key takeouts from companies reporting today, including Medibank Private (MPL), IOOF Holdings (IFL), Primary Healthcare (PRY) and Star Entertainment (SGR) with links through to more detailed reports. Show More
During the month of January, equity investors showed little apparent concern for value. As we write this report, the market is becoming increasingly concerned with nascent inflationary signs and rising interest rates. The momentum of investor fuelled, low volatility / low interest rate trade that has grossly inflated pockets of... Show More
After examining all of our analysts’ buy-rated stocks with a market capitalisation above $1.0 billion, we have identified ten of them which we particularly like over the next 12 months or so for private clients: Show More
They say the house always wins, but with both Crown and Star Entertainment to choose from, which house is the better one to bet on? Crown’s flagship casino in Melbourne is the biggest in the country, but can it shake off all the bad press? Star has had a good... Show More
As part of the NAOS investment process, we pay particular attention to the comments made by company CEO’s and business leaders in order to gain a greater understanding of the current investment environment and key trends that may be emerging. Below are quotes from the week which in our view... Show More
With valuations for high quality businesses currently near or at an extreme, we thought we’d run a screen based on Graham’s Stock Selection Criteria to see if it produced any overlooked, inexpensive stocks. Ben Graham is regarded as the father of value investing, having authored Security Analysis and its friendlier... Show More
As we consider different areas to allocate funds into the current market weakness potential tax loss selling should definitely be considered as June slowly evolves. The ASX200 is up almost 6% for the calendar year hence there will not be the number of candidates which would typically be available in... Show More
Equity markets remain at the mercy of abnormal macroeconomic conditions such as unconventional central bank interest rate settings and heightened political uncertainty. Making bold portfolio decisions amid such uncertain conditions is a difficult and potentially hazardous exercise; hence our cautious Asset Allocation settings. Despite these challenges, we think that enduring... Show More
As part of Livewire's exclusive reporting season coverage I share my thoughts on three companies that caught my attention with their reports this week. Whilst the headline results are often what makes the news, in this short video I focus on what I believe are the key underlying trends. The... Show More
South 32: Reported Net profit US$620m as compared to net loss US$1.75bn in pcp (which included impairment charges US$1.7bn) | Underlying EBITDA up 96% to US$1064m, EBITDA margin 36.7%. (Higher prices for the majority commodities offset lower volumes, giving rise to an increase in sales revenue of US$240m | Operating... Show More
First strike at Carsales.com and dissent obvious on the NED fee pool limit resolution at The Star Entertainment Group. Today's Daily AGM Note is available at this link https://subscriber.theexecutiveremunerationreporter.com.au/archives/16238 and is updated throughout the day. Show More
As investors, we are always interested in companies with a barrier to competition from other firms. However, we need to be mindful that, sooner or later, the barrier can start coming down. Take the gaming industry. It seems to be well insulated from competition by government regulation. But there could... Show More
Charlie Aitken, CIO at AIM says interest rates globally have bottomed marking a critical inflection point for interest rates sensitive stocks and for bonds. "Interest rates have bottomed globally, it’s a very important point... They're not going any lower than this - this is it." Aitken believes that resources stocks... Show More
Two notes this month to cover All the Majors from Amcor to JB Hi Fi https://subscriber.theexecutiveremunerationreporter.com.au/archives/15908 and from Magellan Financial Group to Transurban https://subscriber.theexecutiveremunerationreporter.com.au/archives/15905 So what are the 'interesting' resolutions this month? Take a look at Magellan Financial Group - termination benefits for Hamish Douglass, or the company loan to... Show More
The Star key highlights: Slots up 8.3%, Domestic tables up 9.1%, Non-gaming up 3.2%, Int. VIP rebate business up 10.3% with an actual WIN rate of 1.17% (vs 1.20% pcp) | Queensland Casinos highlights: Domestic revenue up 2.2%, Int. VIP rebate business turnover down 35.3% and actual win rate 2%... Show More
Star Entertainment Group (ASX:SGR) was a strong contributor to the Ralton Australian Shares portfolio during the March quarter, adding value in a volatile market. Half-year profit results were solid on most metrics and importantly, the outlook continues to appear supportive. SGR will be a beneficiary of the ongoing influx of... Show More
It's no secret that exporters and companies with USD earnings have been beneficiaries of a lower AUD, and this has been well reflected in prices. After peaking at just over US$1.10 in 2011, the AUD has since fallen to 70c. A less talked-about beneficiary of the lower AUD is tourism;... Show More
