Where to hide in the bank/Aussie dollar sell-off

Alex Pollak

Loftus Peak

Where to hide in the bank/Aussie dollar sell-off? Try the US market! The general stock sell-off over the past few weeks (including Wall St volatility) was accompanied by a 6.76% rise in the US dollar against the Australian currency, as investors grew more nervous about the economy; in part this was because of mining sector weakness related to the fall in the iron ore price. We are an offshore investor, so our portfolio posted a before-fee estimated return of +4.91% for September 2014. (11.14% since 1/7/14 inception). The market in established global disruption names like Apple, Gilead, Yahoo, etc has been much firmer than the more speculative, early stage companies, many of which have fallen significantly in the past few months. Start-up valuations are also stretched - venture capital funds have been lamenting the lack of appropriately priced start-ups. As a philosophy LP adopts a low-risk/high quality bias in the portfolio. (VIEW LINK)

CIO of Loftus Peak, a specialist global fund manager with a track record of successful investment in some of the world's fastest-growing listed businesses.

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