A +20% correction in 2 weeks
Last week we hosted our annual roadshow around Australia, which focused on the risk/reward proposition of onshore versus offshore investments. A key theme discussed was our view on offshore banks, which we believe show greater share price upside compared to their Australian counterparts. A key reason in our rationale is the stated intention by these businesses to increase their payout ratios. In the last two weeks, we've seen a +20% move between the decline in CBA's share price and the increase in Lloyds share price, as highlighted within the slide attached. You can watch a recorded version of the presentation, where Paul Moore discusses why he thinks the Australian dollar has further to fall, our view on economic improvements in Europe and the current industries we believe show the greatest return potential. (VIEW LINK)
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At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners Limited stable of alternative asset managers and specialise in Global & Australian equities and Global Fixed Interest strategies. We believe the very best way to minimise investment risk is through understanding valuation, as such, we avoid companies who are hard to understand or difficult to value and are well known for our discipline in resisting short term market noise and ability to hold investments through full industry cycles.
PM Capital
At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners...
Expertise
PM Capital
At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners...
Expertise
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