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Equities
Nicolas Burgess

If you've seen the movie you know how the story goes: Facebook was created on a university campus to connect and profile students and teachers. Just over 15 years on from those humble beginnings, Facebook is a publicly listed company with a market value of over US$500 billion. Google, meanwhile,... Show More

Macro
Aberdeen Standard Investments

Paypal founder Peter Thiel predicted in his 2014 Wall Street Journal essay ‘Competition is for losers’ that Silicon Valley would become the centre of the global economy. He claimed that by operating under a set of rules that involve little competition or regulation, his own company, along with the likes... Show More

Fund Manager Q&A
Patrick Poke

As volatility has picked up in recent months, many investors who thought they were protected in a down-market have quickly discovered otherwise. Asset consultants have discussed the value of finding genuinely uncorrelated returns, while also acknowledging the difficulty of finding them. One Livewire contributor who’s managed to put in solid performance... Show More

Lachlan Hughes

Investors continue to use technology companies as a proxy for risk, but we need to consider the value of individual stocks in the sector. As we survey the recent sell off in US tech outside our portfolio, we believe many of the share price falls are justified by company valuations.... Show More

Expert Insights

With investors factoring in exponential growth rates, Software as a Service (SaaS) firms have been trading on eye-watering multiples. However, Jacob Mitchell, Chief Investment Officer at Antipodes, says that the competitive environment in this sector is deteriorating and that their valuations have no margin of safety. Show More