The AUD decreased 6.4% over September versus the US dollar (USD)
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The AUD decreased 6.4% over September versus the US dollar (USD). As quantitative easing nears an end and interest rates in the US begin to normalise, we believe the AUD will continue to break down. Further exacerbating the downward pressure on the AUD is the current over supply in numerous commodity markets, which is also adding downward pressure on the respective commodity prices. We used the low volatility at the beginning of September to buy risk protection via long dated puts on the S&P 500 index. The US market continues to make new highs and as highlighted previously we remain cautious.
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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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