equities

Small cap gold stocks have had a remarkable run over the past 5 years, fuelled by rising production, a high gold price, and strong levels of cash generation. However there have been clear winners and losers, and we see a few worrying trends emerging. In this article we take a... Show More

There have been a number of commentators who have made the point that we have inflation in things we need (housing, utilities, fruit&veg, hospital services) and disinflation in things that we want (ice cream, TVs, cars, washing machines etc): But this isn't the full story. Of the eleven main... Show More

Someone (maybe it was Albert Einstein) once opined that: “Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results” Show More

In the latest Compexity Premia podcast we cover recent Livewire articles and: debate whether the RBA is going to blow the housing bubble back up with interest rate cuts; discuss new RBA research that blames the central bank for the rapid house price growth between 2012-2017 (contrary to what the... Show More

In this new research paper, members of the quantitative research and portfolio management teams at Coolabah Capital Investments (CCI) present new evidence on whether the claimed alpha and beta benefits of ESG filters in both the global equities and corporate bond markets exist. You can download a full copy of... Show More

According to the latest edition of the Janus Henderson Global Dividend Index (Index), global dividends finished 2018 at a new record high, as a strong fourth quarter shrugged off rising volatility in global financial markets. Show More

If you found that last few months of 2018 a bit testing on your nerves, I can assure you that you’re not alone. It seems to have taken equity investors a few extra weeks to get their feet back under the desks after a bruising few months. So, for our... Show More

Reading through Patrick Poke’s article yesterday analysing Seth Klarman’s annual letter for Baupost Group ("Klarman: A Buying Opportunity"), a particular passage stood out. Unsurprisingly, not least because of our history in championing the strategy, the passage focused on reducing correlation to broader equity markets. Show More

In my column today I argue that to have any hope of divining the prospects for 2019, one has to first solve the Rubik’s Cube that was 2018 in which the most overvalued asset-class on the planet, government bonds, reigned as king—trumping cash—despite this column’s contrarian forecast of four Fed... Show More

I distinctly remember one investor telling me how lonely he felt undertaking the task of running his super. Alone with lots of information and no one to speak with or use as a sounding board. I’d never really thought about it until this man described the challenges of making important... Show More