Well, it’s that time of year again. The time I traditionally throw a cat amongst the pigeons to get everyone to think carefully about what they are doing and to question whether they should continue with it next year. This year, I have deliberately fired up the ether with a claim that a particular stream of charting or technical analysis is rubbish… Let’s see whether anyone can conjure up evidence that ‘support’ and ‘resistance’ stands up to the scrutiny of mathematical and statistical evaluation. Continue reading
One of the things that keeps the equity markets interesting is the way different investment attributes fall in and out of fashion. For example, in recent times we have seen a marked preference for large, dividend paying stocks, which we expect is a reflection of record low interest rates, and a quest for better income returns with low perceived risk.
A slightly less obvious development has been a move by the market away from high quality companies and into lower quality issues. Continue reading
Christmas is a magical time of the year – a time for the Christian world to celebrate all that is good in mankind. The magic I am referring to is also linked to incredible power bestowed on parents during the month of December. Children that were unruly for the previous eleven months are suddenly transformed into models of good behaviour as they endeavour to stay off Santa’s naughty list. Continue reading
One of our brokers and a producer of some excellent insights into smaller capitalized companies in Australia, Baillieu Holst, recently attracted the skills of analyst Stuart Roberts who has wasted no time releasing a new 37 page report covering the Life Sciences sector. As many private investors rarely have a comprehensive understanding even of the players in this sector, I thought it would very useful to provide you with Baillieu’s summary (with permission) of each of the companies covered. Continue reading
There’s a very genteel debate going on over at Fairfax – and for once it’s not about what to do with the legacy business.
This time it’s about the relevance of those house auction clearance rates you see being reported and used to reflect the hype (or otherwise) in the property market at the weekend. And what else do we find? Well surprise, surprise, we discover real estate agents are salesmen not actuaries. Continue reading