Alphabet’s first quarter result demonstrated a slowdown in websites revenue (advertising revenue from Google websites). The quarterly number only came in 1% below consensus estimates (excluding the impact of any FX), with many commentators pointing out that this was the first time their websites growth has been below 20% in... Show More
WiseTech, Appen, Afterpay, Altium and Xero (WAAAX) are up just over five-fold over the last two years, pushing the aggregate market cap to over $28 billion. Some of the valuation metrics are now laughable. However... the same thing was also true two years ago before this rally commenced. So where... Show More
There are some wonderfully innovative and disruptive companies in the tech sector, but investors should always be aware that hype and momentum can drive company valuations and equity markets further than may be warranted – a valuable lesson learned by those who remember the heady days preceding the dotcom crash.Fast... Show More
With stocks near all-time-highs, there is steadily accumulating evidence that this may be a historic time to sell. PMIs are diving. PMIs give false signals (eg 2016 was a buy, not a sell) but this is by far the worst they have looked. All through the turmoil of last year,... Show More
Philip King, CIO at Regal, is one of Australia’s most experienced investors and we recently took the chance to hit him with three simple questions about investing. What keeps him up at night? What is he excited about? What’s the most valuable lesson he has learnt? King says he’s excited... Show More
We spend a lot time analysing individual companies and the industries they operate in. There are two time horizons investors are focused on predominantly. Firstly, there is the short term, which is trying to assess the earnings trajectory over the next half yearly or yearly reporting season. In a perfect... Show More
Nearmap (ASX: NEA) is an Australian software business that specialises in mapping, aerial imagery and location data services. This week, NEA reaffirmed its earnings guidance and flagged that its customer lifetime value (LTV) had increased to over $1.4 billion from $1.1 billion at the end of December 2018. LTV is... Show More
When we think about the economic progress of the human race over the past 50 years, there is probably no more important development than our ever-increasing ability to process data at ever-increasing speeds based on improvement in integrated circuits. Simply put the modern world as we know it would not... Show More
Mining companies have traditionally traded at a discount to industrials due to the limited life of their assets. Amit Lodha, Portfolio Manager at the Fidelity International Global Equities Fund, likens it to valuing a melting ice cube – here today, but gone tomorrow. Years ago, healthcare companies used to attract... Show More
Attending the Consumer Electronics Show (CES) held annually in the US is always an amazing experience. 180,000 people from 150 countries with 4,500 exhibitors spread over 2.9 million net square feet of exhibit space. It is pitched as the Global Stage for Innovation and it doesn’t disappoint! Show More
