Today I write about an interview this week with one of Australia's most successful and innovative funds management pioneers, Magellan's Hamish Douglass, who says he would have no issue with ASIC applying the Future of Financial Advice (FOFA) laws to the burgeoning listed investment company/trust (LIC or LIT) space to... Show More
A journey through the lower level of any department store around the world will show an investor the extraordinary disruption that has been laid bare by the likes of Sephora in the make-up retailing space. With stores being rolled out an incredible pace, brands such as Sephora and its parent... Show More
You read a lot in the newspaper, but there’s nothing like getting views from someone who’s been at the coalface. One of those people is Michael Morell. As former Deputy Director of the CIA, Michael has been connected to some of the biggest issues in the world, including one of... Show More
Strava is an app that styles itself as “the social network for those that strive”. Runners, cyclists and others use the app to track, share and compare their exertions and even determine a ‘Suffer Score’. Show More
We are in uncharted waters. Prices for sovereign, corporate and high-yield bonds and equities are at, or near, record levels thanks to the ultra-low policy interest rates and the massive quantitative-easing programs of the G3 central banks (the US Federal Reserve, the European Central Bank and the Bank of Japan)... Show More
Type relentless.com into a browser and where will you end up? At amazon.com. When Jeff Bezos established Amazon as an online bookseller in 1995 he toyed with calling his venture to dominate retail ‘Relentless’. Show More
At their recent adviser briefing, Magellan CEO, Hamish Douglass, had cars on his mind. Specifically, driverless cars, and what they mean for investors. While many investors focus on the potential upside in companies like Uber and Tesla, Douglass’ focus on capital preservation means he was more interested in the flow-on... Show More
Hamish Douglass, the CIO of Magellan will be contributing his ideas to the upcoming Livewire Live event on 26 July at the ASX. In his keynote presentation Hamish will be taking us on a journey to the future to help us understand the most powerful trends that you’ll need to... Show More
On Tuesday night, I attended the Magellan Investor Gala Dinner at the MCEC. Magellan CEO/CIO, Hamish Douglass, held the 2000-strong audience’s attention for a solid two hours, discussing the big issues on his mind for both the short-term and the long-term. The talk was wide-ranging, but the main focuses of... Show More
Apple enjoys strong brand recognition globally and extensive market penetration for its flagship products, most notably the iPhone. We estimate that iPhone and iPhone-related services represented around 70% of Apple’s revenue and 80% of Apple’s gross margin in FY15. Despite its relatively high price, there is strong demand for the... Show More
PayPal is the leading global digital wallet and a leader in mobile and ecommerce payments. It operates a proprietary global technology platform that connects merchants and consumers around the world. PayPal has approximately 173 million active customer accounts. Last year, it processed over $235 billion of payments in nearly 4... Show More
In our view, the current risk pricing environment for high-quality assets is quite extraordinary in a historical context. Pricing for sovereign credit, high quality corporate and financial credit and other high-quality defensive assets is at, or near, record highs at present. The pricing of high-quality assets reflects the prevailing environment... Show More
With major the major banks seemingly in an ex growth phase, we take a look at an eclectic mix of non-bank financials to see if the prospects are any brighter. Berkshire Hathaway sees value in IAG but it hasn't helped the share price. The ASX has a near monopoly position,... Show More
In an interview with UNSW Hamish Douglass, CEO of Magellan Financial, outlines why he believes the US economy is back on track. "I think the US is out of the woods. It has made very substantial progress since 2009 and has created 12 million new jobs, the stock market has... Show More
Hamish Douglass of Magellan says the market should brace for a correction if they’ve underestimated how quickly rates could rise. “We believe markets are factoring in longer-term bond rates a bit over 3 per cent. If you look at what the Federal Reserve is estimating they're really saying long-term rates... Show More
There continues to be a strong secular shift from spending via cash and cheque to cashless forms of payments such as credit cards, debit cards, electronic funds transfer and mobile payments. In our opinion, the explosion of smart and internet connected, mobile devices will accelerate this shift on a global... Show More
Hamish Douglass: Warning signals for investors. In the last week, we have increased the cash weighting in our Global Equity Strategy to approximately 10%. The last time we materially increased our cash weighting in the Strategy was at the commencement of the European sovereign debt crisis in early 2010. We... Show More
Investors in Magellan have focused on fund flows, brushing aside concerns over short term performance. MFG shares are up 6% at the time of writing following a bullish briefing by CEO Hamish Douglass. The 12 month performance of the flagship Magellan Global Fund when benchmarked against the world MSCI index... Show More
Hamish Douglass, CEO Magellan Financial Group: Markets are fairly priced - the 'reserve bench' is not as deep as it was three years ago. Magellan sees pockets of overvaluation, such as high growth tech which Douglass sees as ridiculously overvalued. But he thinks the market is generally at fair value.... Show More