articles by Stuart Jackson
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One thing to look out for this reporting season
Stuart Jackson
July 30, 2019
In this week’s video insight Stuart provides commentary on one of the issues we will be monitoring this reporting season. After a fairly brutal confession season, analyst forecasts for earnings per share growth from the industrial stocks (excluding financials) in FY2019 has been reduced markedly. Find out why potential risk lies is in the guidance statements.
by Stuart Jackson Posted in Video Insights.
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Here’s something for bank investors to consider
Stuart Jackson
July 3, 2019
Most investors in Australian banking stocks don’t give much thought to how our banks capitalise their IT expenditure. But it matters, because the way they capitalise this expenditure affects the quality of their earnings base. Continue…
by Stuart Jackson Posted in Financial Services.
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Finding value, the marginal return on capital
Stuart Jackson
June 18, 2019
In assessing the value of a company, the market tends to focus almost exclusively on the outlook for earnings growth. While obviously important, this ignores other variables that are equally relevant in determining whether a stock represents a good investment from both a quality and a valuation perspective. Continue…
by Stuart Jackson Posted in Economics, Investing Education.
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How pricing power allows a company to remain in control
Stuart Jackson
June 4, 2019
In this week’s video insight Stuart discusses the impact pricing power has on the quality of a company. Pricing power will invariably allow a company to generate a return above its cost of capital. But it also yields another major benefit.
by Stuart Jackson Posted in Video Insights.
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Is margin pressure an ongoing issue for the health insurance industry?
Stuart Jackson
May 29, 2019
The market has viewed the private health insurers as one of the biggest winners from this month’s Federal Election. This is due to the market having factored in the likely impact of Labor’s stated policy of limiting average policy premium increases to 2 per cent on 1 April 2020 and 2021. With this risk having been removed from the outlook, the share prices of Medibank Private (ASX:MPL) and NIB (ASX:NHF) have increased around 14 per cent since the election. Continue…
by Stuart Jackson Posted in Companies, Health Care, Insurance.
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The biggest winners from the Federal Election
Stuart Jackson
May 23, 2019
The ASX All Ordinaries index jumped to an 11-year high immediately after the Coalition won the recent Federal Election. It was boosted in particular by share price spikes in the big banks and health insurers. Whether these gains are sustainable remains to be seen. Continue…
by Stuart Jackson Posted in Companies, Market commentary.
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Westpac customers braced for Apple Pay
Stuart Jackson
May 22, 2019
Lucas Baird published an article in the Australian Financial Review which discusses why Westpac is the only big four bank without Apple Pay functionality. Lucas draws on Stuart’s view that the resistance was probably linked to the fees Apple charges the banks. Read here.
by Stuart Jackson Posted in On the Internet.
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Three key themes from the banks’ results
Stuart Jackson
May 17, 2019
Australia’s four major banks have now reported their interim results. Common to all of them were three key themes, which are presenting both challenges and opportunities. Continue…
by Stuart Jackson Posted in Companies, Financial Services.
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A look at the NAB remediation charges
Stuart Jackson
April 24, 2019
Last week, the National Australia Bank (ASX:NAB) released details of the customer remediation charges it expects to take in its 2019 interim result following the Royal Commission into Financial Services. NAB will provide additional detail in its interim result, which is released to the market on 2 May. Continue…
by Stuart Jackson Posted in Companies, Financial Services.
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Australian loan growth continues to flatline
Stuart Jackson
April 17, 2019
Reporting season is coming up for our major banks, and recent data provided by the Australian Government regulators shows that it may be a bumpy ride ahead. Continue…
by Stuart Jackson Posted in Companies, Financial Services.
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