global equities

Full steam ahead for healthcare sector

Peter Wilmshurst
Peter Wilmshurst Templeton Global Growth Fund Ltd (ASX code:TGG)

What are the long-term secular drivers for the Healthcare sector? Ageing populations across developed markets, rising middle class demanding better healthcare facilities in the emerging markets, and key reforms in the US all imply healthcare is a positive investment area for almost every global economy we look at. The right... Show More

VGI Partners Global Investments Limited IPO now open

Livewire Exclusive

VGI Partners, which was founded by Robert Luciano in 2008, has three key tenets; capital preservation, superior long-term compound growth, and concentration. Since inception in 2009, the VGI Partners Master Fund has generated a compound annual return of 14.6% p.a. to June 2017. Show More

Attributes of an outstanding investment

Livewire Exclusive

Short-term wins make great headlines, but it's the long-term wins that make a real impact on a portfolio. Superior long-term compound growth is one of the key tenets at VGI Partners. Managing Partner, Robert Luciano, identifies lubricants manufacturer, WD-40 as an example of a superior long-term growth opportunity. Show More

The End of Creative Destruction: How Facebook and Silicon Valley Destroy Growth

Chad Slater
Chad Slater Morphic Asset Management

“Technological innovation seems to be moving faster than ever, from driverless cars to robot lawyers to 3D-printed human organs. The not-so-good news is that we can see technological breakthroughs everywhere except in the productivity statistics.” Christine Lagarde, IMF (April 2017) Show More

On the ground: Insights from Europe

PM Capital
PM Capital Fund Manager

PM Capital's Chief Investment Officer Paul Moore and Portfolio Manager John Whelan recently completed a research tour of the United Kingdom, Ireland and Spain. In this video, Paul and John review their tour, sharing insights which show us that some current market beliefs are misconceptions, and that new opportunities are... Show More

Australian stocks a better bet

Livewire Exclusive

David Wanis, Portfolio Manager at Schroders Australia discusses where to find value in global markets today. While all markets appear fairly fully-priced, David makes the argument that domestic equities have a better three-year outlook than international equities. He also discusses why he believes the Australian dollar is under pressure in... Show More

European share market valuations

Callum Thomas
Callum Thomas Topdown Charts

The French elections are now seemingly a done-deal, with a market friendly outcome most likely. So it's worth checking in on European equities, as I did in my weekly report. A key chart is that of forward PE ratios. By itself European equities look neither attractive nor scary on an... Show More

Five risks to this long bull market

Magellan Asset Management Limited

Hamish Douglass, the CEO, CIO and Lead Portfolio Manager (Global), discusses why capital preservation is important, gives his five biggest risks for global markets and explains why he is cautiously optimistic about President Donald Trump’s pro-growth. Show More

On the Road with Alphinity - US Health Care

Jonas Palmqvist
Jonas Palmqvist Alphinity Investment Management

I recently travelled to the US for a closer look at global health care companies. The trip was timely - the investment decision in the sector became increasingly contentious during 2016, driven by the US political debate as well as some weakening fundamental trends in the stocks. I came away... Show More

Picking a takeover target - US Alternative Asset Manager Fortress

PM Capital
PM Capital Fund Manager

Alternative asset manager Fortress has just received a takeover offer at a significant premium to its prior trading price. PM Capital Portfolio Manager John Whelan discusses why PM Capital recently began building its stake in Fortress, how its investment process identified the stock, and what the takeover may reflect for... Show More

John Whelan, Portfolio Manager at PM Capital, explores the potential of alternative fund manager Apollo Global Management.

PM Capital
PM Capital Fund Manager

Apollo is a leading global alternative asset manager investing in private equity, credit and real estate. It’s growing funds under management at the expense of traditional asset managers while selling on valuations at a discount to them. John Whelan explains why and where to from here. Show More

Paul Moore on catching the banking wave

PM Capital
PM Capital Fund Manager

De ja vu – all over again. As part of an introduction on how to analyse banking stocks, Paul Moore, Chief Investment Officer and Chairman of PM Capital, talks about why dividends matter, why global banks are on a similar wave that used to drive Australian bank stock prices and... Show More

Buy, Sell and now Short: Why Wells Fargo is "too big to succeed"

Chad Slater
Chad Slater Morphic Asset Management

The Theory of Reflexivity was postulated by guru hedge fund manager George Soros to describe investments whose success breeds even more success, and conversely whose troubles breed even more troubles. Such self-perpetuating success stories are rare, but one industry abounds with them: banks. We used to own shares in Wells... Show More

Why sitting still can be the most positive thing you can do.

PM Capital
PM Capital Fund Manager

The usual stock market mantra is that you sell on the rumour and buy on the fact. With a significant rally ensuing after Donald Trump’s surprise election win, is it the same here? Should you sell now that the new President has been inaugurated and the risks of a Trump... Show More

Global Equities - Half the world is in a bull market

Callum Thomas
Callum Thomas Topdown Charts

This would have to be my chart of the week. The red line shows the proportion of countries (70 in this study) that are currently in a bull market: currently just over 50%. The chart appeared in the latest edition of the Weekly Macro Themes https://www.topdowncharts.com/single-post/2017/01/13/Weekly-Macro-Themes---13-January-2017 . So how do... Show More

Fundamentals will always ‘trump’ fear – Paul Moore

PM Capital
PM Capital Fund Manager

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

Tesla: When the "bull case" becomes "bull dust"

Chad Slater
Chad Slater Morphic Asset Management

If the product is good, it must be a good company, right? The paradox of investing is that great investments often have little in common with great companies. This week we examine the bull case for Tesla, as espoused by one stockbroker and find it, shall we say, somewhat lacking.... Show More

Outlook for asset classes in a "Trump World"

Chad Slater
Chad Slater Morphic Asset Management

After last weeks 'mea culpa' , enough navel gazing and time to look to where in the world money can be made from the reality of this new situation. Markets don't care much for 'why' things happened, they care more about 'what it means'. And it's a fascinating set-up. Most... Show More