PM Capital’s goal is to build long term wealth by investing in global markets with patience and conviction. We believe in always acting and investing independently, with integrity and in the best interests of our co-investors - even if that means respectfully disagreeing with the rest of the market. Since... Show More
If you see a bloke driving a Holden Ute through Sydney with two dogs in the tray and the words 'GIANTZ' blazed on the number plate, that'll be Paul Moore the CIO of PM Capital. The 30-year funds management veteran was an early backer of the GWS Giants and is... Show More
The arguments for using Listed Investment Companies (LICs) are numerous and the burgeoning LIC offering on the ASX means investors now have more choice than ever. One of the biggest frustrations for many investors is the fact that LICs will often trade at a discount to their Net Tangible Assets... Show More
NAB, CBA and Westpac, among others, report in early May. In those results we expect credit growth to be stronger than what the market expects. However, we expect relatively poor topline growth for the banks as their net interest margins remain under pressure. Given that the banks have already said... Show More
In the video below, taken from the recent PM Capital Adviser Forum, Chief Investment Officer Paul Moore discusses why equities still stack up versus other asset classes, particularly government bonds. He also comments on modern asset allocation and why advisers and their clients need to think differently. Show More
Brewers and banks have historically played a significant role in PM Capital’s Global Companies Fund and Asian Companies Fund, and more recently the listed Global Opportunities Fund and Asian Opportunities Fund. Show More
The one thing I’ve gotten really into in the last few years has been the NBA — I watch the highlight reel most nights. It’s a great way to see the best 10 plays of the day — mainly guys dunking on each other but entertaining nonetheless. So I was happy this weekend when... Show More
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
The market optimism following the US election has waned but the economic recovery remains in place. Notwithstanding where we are in a political cycle, I think there has been an underestimation of the pent-up demand in the US and the effects of that being unleashed. An economic recovery was occurring... Show More
Recent takeover activity, including that surrounding Australia’s Spotless Group and Dutch paints and coatings maker AkzoNobel, has investors asking the question: what’s in a company’s long term interests and who’s to decide? Show More
Interest rates and inflation have been on a downward trajectory since the late 80s, a 30 year trend. Paul Moore says 2016 was an inflection point and expects inflation to return. For the majority of investors this represents unchartered territory, so how do you approach such a foreign outlook? Show More
Late last month Australian online employment classifieds company Seek Limited announced it was in advanced discussions with majority owned Chinese compatriot Zhaopin regarding a potential privatisation at US$18 per American Deposit Shares (ADS). Typically, the receipt of a potential takeover offer is met with high fives amongst investors. However, in... Show More
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
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
PM Capital income securities portfolio manager Jarod Dawson believes the value of 10-year US government bonds could fall more than 20% because the US economy is doing a lot better than most people think. While a strong US economy is good news for most, the accompanying hikes in US interest... Show More
Kevin Bertoli, Portfolio Manager of the PM Capital Asian Companies Fund and the PM Capital Asian Opportunities Fund (ASX:PAF), talks about Autohome, a Chinese online car portal two and a half times bigger than Carsales.com.au. He talks about why the market has marked it down over the past 18 months,... Show More
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
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
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
Tom Piotrowski speaks with PM Capital Chairman & Chief Investment Officer, Paul Moore about his view on interest rates and sectors where he sees growth To view more Executive Series interviews, visit: https://www.commsec.com.au/market-news/executive-series.html Show More