RBA Cuts Rates... We Fall... | CBA & WOW Disappoint.... | IIN "Battle" Heats Up... |
Niv Dagan
Peak Asset Management
Good Afternoon, You gotta love this job….. RBA cuts interest rates to the lowest on record and US markets up 180 points, we fall……… US market falls 0.5% last night, we fall 100+ points…. How can we win this game? What worries us is that we all know that next week’s federal budget is going to be “very poor”… surely this is factored in? So why the sell off? The XJO is currently 90 points lower.. ouch… ouch… ouch…. as CBA leads another plunge in the banks and Woolies (WOW) is punished after posting a fall in quarterly sales. The rest of the big banks are also copping it, with NAB 1.63 per cent lower, Westpac (WBC) 2.24 per cent and even ANZ, down 0.44 per cent. Wesfarmers (WES) is 0.61 per cent lower down. Telstra (TLS) is not enjoying the swirling worries that the relentless drive towards yield may be abating, with the shares 1.49 per cent lower. An interesting chart with regard to how investors fall out of love with bank shares is shown below. Niv
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Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional, intermediary and offshore hedge funds. Niv takes an active approach in managing client funds and is a firm believer that adequate risk management is paramount in any good investment decision. Niv's work is largely focused on portfolio management, asset allocation, fixed income, managed funds, structured products and developing tailored strategies for the SMSF sector.
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Niv Dagan
Executive Director
Peak Asset Management
Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...
Expertise
No areas of expertise
Niv Dagan
Executive Director
Peak Asset Management
Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...
Expertise
No areas of expertise
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