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
Where is the US Equity Market headed? Can Opportunities still be found? Show More
We recently met with 170 companies as part of a research road trip that crossed the US and Europe, to test existing investment theses, and look for new opportunities and trends. One key takeaway was that we have found far more attractive opportunities in global small to midcap (SMID) companies.... Show More
Back in 2007, a US economist called Edward E. Leemer published a paper entitled “Housing IS the business cycle”. In this paper he studied the causes of every US recession since World War 2, of which there had been 10. What he discovered was that 8 out of the 10... Show More
Sentiment in the life sciences sector remains weak. However as always companies with near-term catalysts, or milestones, are attracting attention, and I'll mention four names that I think are worth having a closer look at. Show More
This Bloomberg article focuses on the growing interest in Australian companies from offshore acquirers. There was $76.1 billion of cross-border M+A last year, with health care, education and tech in focus, while Industrials and utilities are now in the cross-hairs. Goldmans is now reportedly seeking to double its principal investments:... Show More
Primary Health Care's overall first half profit fell 66% as tougher competition for new doctors to sign on at medical centres, and changes to government health care spending, hit the result: Show More
Tom Piotrowski speaks with AirXpanders (AXP) CEO & President, Scott Dodson about the company’s performance since listing on the ASX 18 months ago & its recently received FDA approval for its AeroForm product https://youtu.be/IfDVQhOySh8 To view more Executive Series interviews, visit: https://www.commsec.com.au/market-news/executive-series.html Show More
As anyone who has read some of my previous articles they will note I don’t attach a buy, hold or sell recommendation to stocks. I let readers of my pieces determine that for themselves. The pieces merely state a stock looks interesting to me at least at the present moment.... Show More
The President-elect’s style, approach, diplomacy and agenda are not easy to pin down. One might call it pragmatic or populist. It is possible that he becomes more conventional as President than he was as a candidate, however his position as an ‘outsider’ to Washington (and even within his own party)... Show More
Cyclical stocks, financials, low price-to-book/price-to-earnings ‘value’ stocks, and resources have all been on a run recently. Meanwhile, high price-to-earnings growth stocks and ‘yield plays’ such as infrastructure and REITs have been sold off. The perennially popular healthcare sector has sold off more than 10% in the last three months. A... Show More
While the United States surprised many with its choice of President, once all the uncertainty has been resolved, we expect the result will eventually be positive. Based on the key issues on which now President-elect Trump campaigned, we would expect to see: 1) tax reform, particularly reducing the corporate tax... Show More
Americans are heading to vote in the US elections, some like never before and some armed with placards – the result could be ugly but at least it will be entertaining. Australians meanwhile are watching on like its Cup Day as many business leaders hope that it will improve global... Show More
There has been a rapid shift in the makeup of global business, beyond the traditional giants. A host of new global companies – such as Google, Apple and Amazon - is rapidly emerging, often with a unique solution to a global problem. Global equity investors need to be mindful that... Show More
Sirtex Medical delivered the first genuine breakthrough in the treatment of liver cancer in a generation, back in the early 2000’s. Use has now expanded to just over a thousand hospitals globally, generating A$264mil in revenue and A$54mil in NPAT in FY16. Yet the company is still only tackling a small... Show More
While US stocks continue to test all-time highs day-day activity remains extremely muted with the combination of US holiday season and Janet Yellen's weekend speech enough to continue the current run of low lacklustre moves – last night saw the 32nd straight session where US markets moved less than 1%.... Show More
Our portfolios have been underweight the market's favourites over the last few years and recent 12 months in particular. These can be summarized as bond proxies, growth stocks, and gold. All have been beneficiaries of ultra low-interest rates and the more intense than ever focus on earnings certainty and incremental... Show More
The budget was reasonably benign when it came to stock market impacts as the government was leading into an election. Some of those most impacted were the aged care providers such as Regis Healthcare, Estia Health and Japara Healthcare as the government looked to impose tighter funding criteria to slow... Show More
The Australian dollar (AUD) has rallied c7% against the US dollar since the start of 2016 on a combination of uncertainty about global growth and US Federal Reserve’s about-face on targeted interest rate rises amid lower growth and inflation, helping to support the currencies of commodity-exporting nations such as Australia.... Show More
Australia’s healthcare sector is world class. Here we rank the best performers based on growth, margins, competitive advantages and more. The S&P/ASX 200 Healthcare Index has returned 247% over the past 10 years, compared to just 54% for the All Ordinaries. Healthcare beat every other sector hands down. Show More
