RESMED INC
2019 has started on a bright note with the ASX 200 closing out the March quarter up 9.5%, the best quarter since September 2009. The sharp bounce has left many wondering where to from here. Our short-term view reflects a more cautious outlook as we think the upside has been priced... Show More
February results were broadly in-line despite ongoing systemic risks (housing slowdown, weak consumer, intensifying regulatory and political risk). Capital management upside was dominated by Resources, while Industrials appear to be holding back some dry powder given their challenging outlook, themes we recently discussed in this wire. Show More
The public debate as to whether the US, and by extension the global economy, is heading for a recession has quickly fallen flat in early 2019. Very little works as reassuringly as rising share prices, and as the dire and gloomy final quarter of calendar 2018 has been followed up... Show More
A rather unpleasant end to 2018 saw the S&P/ASX 200 index down 9% over the final quarter. Tactically it has been a blessing in disguise for investors at the start of the year. Valuations have de-rated sharply on the back of a multitude of macro-economic scares and have left the... Show More
The ASX 200 came off the boil today with the index now looking set for a more protracted pullback into the ~5750 region or ~4% lower. After a reasonable open considering the weakness overseas, selling towards the banks ticked up and the market grinded down into a lunchtime low. Business... Show More
The market rallied today, following on from yesterday’s 20 point grind higher to add another ~40 points today. Buying was seen across the board with banks, resources, tech & even the retail names getting in on the act. Franking credit talk helped those with large balances, commodity prices pushed higher... Show More
David Murray could be ousted at AMP by activist shareholders; Venezuela in crisis, while Russia and US disagree on who is President; and Moody's warns on the dangers in corporate bond markets. Here's what's happening in markets today. Show More
In the last couple of months it has been all about “the market”. We have been more concerned with cash levels than stock selection and as one of my team said yesterday, you know something is wrong when the first word anyone says when they walk into the office is... Show More
Volatility has returned with vigour over the past two months, with the ASX200 posting its third straight negative month in November. While we don't subscribe to the view that equity markets are heading into a deep bear market, macro events will determine market direction in coming weeks. With global growth... Show More
We have spoken about market abnormalities and the risk of fresh volatility for some time. Overall we think current weakness will prove to be another 'reality check' for a market that had run a little ahead of itself, rather than a precursor to something more serious. The increased volatility in... Show More
The Australian healthcare sector has been the best performing sector of the Australian share market over the last couple of years, although this statistic masks considerable variability within the sector. The global leaders (CSL, Cochlear and Resmed) have driven the lion’s share of the sector’s outperformance over the last two... Show More
Companies that will attain, and then sustain, very high returns on capital, have the ‘future quality’ that Will Low, Head of Global equities at Nikko Asset Management looks for. Here he discusses two highly successful Australian growth stocks, and a global stock that is a household name, through this lens. He... Show More
One of my all-time favourite movie scenes is when Woody Allen stands in the queue in Annie Hall (1977) and he ends up having a discussion with the loudmouth academic behind him who professes to know everything there is to know about Marshall McLuhan. Show More
It has long been difficult to place rationale around valuations in certain areas of the market. While the supermodels get all the spotlights, it’s the cardigan wearing brigade that seem more like a solid investment, allowing scope for many different futures — both good and not so good — without... Show More
If reporting season has kept you busy, you may have missed the regular commentary on notable results from Livewire's contributing managers, so we’ve pulled them all together for you here. For the fundies' view on results from Afterpay, Netwealth, Telstra, JB Hifi, REA Group, and 25 other key stocks, click... Show More
The intraday price response to a result that beats (or misses) expectations is often just the start, and prices can trend for weeks after. So keep your eyes on the Livewire website for first-to-market fund manager commentary on results from 30 stocks of interest through August reporting season. Show More
Over the past twelve months small companies (as measured by the ASX’s Small Ordinaries) have returned 22%, outperforming large caps (ASX Top 100) by almost 10%. This has led to numerous articles in the financial press claiming that small is beautiful and that investors should look beyond large Australian companies... Show More
Medical device manufacturer and distributor ResMed Inc delivered their full-year result today. We highlight our three key takeaways from the report, share our view on the stock and focus on something that we feel the market has underappreciated. Show More
It seems like just weeks ago that February reporting season was wrapping up, but believe it or not, reporting season is upon us again. The Australian market has performed solidly in the period since, having gained 4.4% since the end of February. But this number hides the dichotomy that has... Show More
Trade tensions between the US and China now pose a real risk to markets, with leading indicators pointing to lower global growth. We sat down with Stephane Andre, Principal at Alphinity Investment Management to get his view and to see who the winners and the losers may be in this... Show More