articles by Christopher Demasi
April 5, 2018
The first quarter of this calendar year has seen some wild moves in equity markets, especially when compared to the quiet calm of the share market in 2017. While value investors welcome share price gyrations, volatility isn’t all that matters for stock pickers. Dispersion and correlation are just as important but remain less co-operative. Continue…
by Christopher Demasi Posted in Editor's Pick, Global markets, Market commentary.
March 27, 2018
In this week’s video insight Chris discusses the most valuable companies in the world. Do you know which company is going to the be the first to be worth one trillion dollars? Continue…
by Christopher Demasi Posted in Video Insights.
March 13, 2018
Do you know which country does the most online shopping? How does the US compare? Do you even know what proportion of shopping is done online in Australia? In today’s memo I want to take the pulse of e-commerce across the globe given its becoming such a wonderful opportunity for some businesses, and such a disturbing threat for other businesses. Continue…
by Christopher Demasi Posted in Consumer discretionary.
February 27, 2018
Over the weekend Berkshire Hathaway, the company that has been under Warren Buffett’s stewardship for more than half a century, released its annual report and letter to shareholders. While the annual report contains the financial results of the all Berkshire’s businesses for the preceding year, it is Mr Buffett’s letter to his “partners” that the financial and media community hang out for. It’s usually full of insight and wit juxtaposed with the dryness of the regulatory filing. Continue…
by Christopher Demasi Posted in Companies, Editor's Pick.
February 20, 2018
In the first two trading days of February US interest rates accelerated their advance of the previous few months and the US equity market tumbled (I wrote about our approach to handling the market movements here.) Commentators were quick to point to a causal relationship and many investors worried that any hint of higher rates would continue to up-end stock prices. Continue…
by Christopher Demasi Posted in Market commentary.
February 9, 2018
Bond yields were up Friday night and equity markets were down; then stocks were down again Monday night; volatility surged; so what are you doing now?! Continue…
by Christopher Demasi Posted in Investing Education, Market commentary.
January 24, 2018
December 18, 2017
On 27 July, St James’s Place (SJP) (LSE: STJ) released an updated set of financial results for the first half of fiscal year 2017. While the performance was nothing shy of tremendous, we were most excited by a new insight into SJP’s business that emerged from the report and management discussion, and has significant implications for the value of the stock. Continue…
by Christopher Demasi Posted in Companies, Stocks We Like.
December 7, 2017
We view the platform business model as one of the greatest business models for investors to own. Platform businesses provide the necessary common infrastructure upon which an ecosystem of businesses, products and services can be accessed by users, customers, vendors and partners. They benefit from advantages related to scale, access to data, network effects and M&A value extraction. And in doing so platforms share in the value they create for each of the members of their ecosystem. Continue…
by Christopher Demasi Posted in Companies, Global markets, Stocks We Like.