Sunset Strip | Aussie Afternoon Institutional Market Wrap
Aussie market pulled back with weaker commodities and a week of volatile global and local macro ahead. We continue expect the market to tread water with global and local macro taking center stage this week. Local macro is mainly redundant as the US rate cycle is the main game. RBA will not make a move till US Fed moves and the domestic economy falls apart. The market today is best explained through two beaten up stocks…SGH and DSH. DSH dropped over 50% to actually trade with a market cap below what WOW sold to private equity. For all their mistakes, WOW was right about DSH and you have to wonder what management in DSH was doing in a recently fixed/pumped up listing. SGH bounced over 30% today after management re-affirmed guidance. There is value in the market, but are the investors willing to pay? well it seems that they want to wait and see what happens with US. Despite few days of profit taking, it still looks like we are having the Christmas rally!!!!!!!!! (VIEW LINK)
Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...