Donald Rumsfeld famously called them ‘known-unknowns’ - things we sense are important but don’t fully understand and cannot predict. Bob Dylan put it well, too, when he sneered ‘there’s something going on here, but you don’t know what it is, do you, Mr Jones’. Both point to the investor’s greatest... Show More
Fundamental analysts spend an inordinate amount of time with Microsoft Excel software trying to gauge the magnitude and direction of the future cash flow evolution of a company with detailed projections around revenue, margin and earnings trajectory. Yet over time, the lesson one learns is that, more often than not,... Show More
Don’t miss out on hearing from 14 of Australia’s most successful investors at The Investor Event That Moves Markets. Tickets sold out within 36 hours last year so secure your seat now: Show More
Alex Duffy, Portfolio Manager of the Fidelity Global Emerging Markets Fund, sees some common characteristics among the management teams of great companies. Show More
Irrespective of the initial market reaction, I do not think that the outcome of the US presidential election dictates how the markets will act in the long-term. There have been numerous studies which have shown that the presidential outcomes have limited impact on the performance of the US market and... Show More
Higher wages are making China a less attractive hub for manufacturing exporters and foreign companies are pulling production from China or relocating planned plants elsewhere. Foxconn from Taiwan, for instance, which has long made iPhone components in China, plans to build 12 factories in India that will employ one million... Show More
Paul Taylor, Portfolio Manager of the Fidelity Australian Equities Fund says his two big advantages are the quality of his team and their access to market intelligence, provided by Fidelity’s global network. “These two things really help us to deeply understand Australian companies and how they fit into the global... Show More
Paul Taylor, Portfolio Manager at Fidelity Australian Equities Fund, says the market should be trading higher than current levels and provides two key factors that are supportive of this view. Firstly, Taylor says the quality of earnings have improved dramatically since the GFC as companies responded to difficult trading conditions.... Show More
The empirical evidence regarding the equity market impact from previous US rate hike scenarios is generally favourable. 1) In the one year leading up to the first rate hike, US equities have risen appreciably on each of the last four occasions, with an average rise of 17%. 2) In the... Show More
“Fidelity Investments, which oversees the largest China funds outside of the mainland, is joining Goldman Sachs Group Inc. in saying that Chinese stocks are a buy following the worst selloff in two decades.” (Bloomberg) Our view? There have been some big short positions in China’s stock markets, including from some... Show More