Economics
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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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- POSTED IN Economics, Investing Education
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As Capitalism Marches On…
Roger Montgomery
December 18, 2018
As we head towards the end of the year we often become more reflective. One of the conversations that recently has been cropping up with people I meet annually before Christmas is the various limitations of capitalism. And as I think about these conversations I have realised that time plays an important part in the power to respond in a way that has positive outcomes. continue…
by Roger Montgomery Posted in Economics.
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- POSTED IN Economics
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Inflation, what is happening and what conclusions can we draw
Andreas Lundberg
November 1, 2018
Most people are familiar with the concept of inflation. As a quick recap, it is the process whereby prices tend to increase over time. A positive, but low, level of inflation is generally seen as positive for a number of reasons and central banks tend to manage their interest rates to try to hit an inflation target of generally around 2%. continue…
by Andreas Lundberg Posted in Economics.
- 6 Comments
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- POSTED IN Economics
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If the VIX is low, is it time to go?
Scott Shuttleworth
January 23, 2018
The Volatility Index – better known as ‘the VIX’ – is the most widely followed measure of stock market risk. Since March 2012, the VIX has remained stubbornly low, and some see this as a sign of a frothy market that’s about to sell off. I don’t necessarily agree, but what’s the best investment strategy just in case they’re right? continue…
by Scott Shuttleworth Posted in Economics, Editor's Pick, Market commentary.
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Farewell Fiscal 2017, Hello Fiscal 2018
David Buckland
July 3, 2017
As fiscal 2017 draws to a close, let’s take a look at the year that was. continue…
by David Buckland Posted in Economics, Global markets, Market commentary.
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Is the extraordinary bond market rally about to end?
David Buckland
January 25, 2017
The 36-year bond bull market is stretched and set for a serious nose dive, says Harvard University researcher, Paul Schmelzing. Schmelzing says global inflation could trigger large losses on bond holdings, subpar growth in developed markets, and balance sheet risks for banks. continue…
by David Buckland Posted in Economics, Market commentary.
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Don’t bet on rates staying lower for longer
Roger Montgomery
August 10, 2016
Australians are getting used to super-low interest rates, and eye-watering loan amounts, particularly for property purchases. Along the way, the household debt burden as a percentage of disposable income has ballooned out from 170% to 185% since 2008. This is nosebleed territory. Is it time to be concerned? We think so. continue…
by Roger Montgomery Posted in Economics, Editor's Pick, Property.
- 32 Comments
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- POSTED IN Economics, Editor's Pick, Property
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I feel the need, the need for yield
Roger Montgomery
August 8, 2016
It’s not news to anyone reading the Insights Blog here that bond rates are at record-lows. And it should be no secret that US stocks are summiting record highs. But it shouldn’t be happening and it isn’t logical. continue…
by Roger Montgomery Posted in Economics, Market commentary.
- 12 Comments
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Under pressure
Stuart Jackson
August 3, 2016
After the RBA’s latest cut to official rates, many investors will be tempted to take some of their money out of cash in pursuit of the high dividend yields offered by our banks. But are these yields sustainable as the banks feel the squeeze from margin pressure and increased liquidity requirements? continue…
by Stuart Jackson Posted in Economics, Financial Services.
- 2 Comments
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- POSTED IN Economics, Financial Services
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Part 2: Are Negative Interest Rates Having Unintended Consequences?
David Buckland
July 28, 2016
The record low interest rate environment is seeing investors buying speculative grade corporate debt and extending maturities to generate positive yields. The rewards are becoming increasingly unsustainable given the level of risks. continue…
by David Buckland Posted in Economics, Market commentary.
- 4 Comments
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- POSTED IN Economics, Market commentary
