Payday lenders in the firing line, Blake Henricks from Firetrail explains how he uses board games to be a better investor, and reports reveals European austerity cost the EU economy $1.3 trillion. Here's what's happening in markets today.
What I'm reading this morning
Payday lending enquiry hears horror stories
Clients with maxed out credit cards and already in default presented no barrier for some payday lenders, the Senate inquiry heard. ASIC's review found that "In 7.6 per cent of files, the consumer was in default on another small amount credit contract."
Blake Henricks from Firetrail says that playing board games has helped him become better at losing in investing. He also shares his views on Domino's, Telstra, and Seek.
Read article (AFR subscription required)
Europe misses out of $1.3 trillion due to austerity
While Kevin Rudd was giving out cash bonuses to Australians, Europeans were enduring harsh austerity measures. Recent reports by The Institute of International Finance and Oxford Economics have revealed the impact of this austerity.
Don't believe the AI hype
The media presents problems with AI as being moral issues, when they really should be treated as legal ones.
Stocks to watch
- Syrah Resources (SYR) declares commercial production at its Balama Graphite Project after significant delays and cost overruns.
- Wesfarmers (WES) is almost debt free following asset disposals including Bengalla, Coles, Kmart Tyre and Auto, and Quadrant Energy. Net debt has reduced from $3.6 billion at 30 June 2018, to $0.3 billion at 31 December 2018, according to their trading update released this morning.
Upcoming data releases and events
- Brexit vote in UK parliament - Tuesday
- ABS housing lending data - Thursday