Market commentary
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Did JobKeeper waste $40bn of public money?
Andreas Lundberg
October 27, 2021
Australia’s Department of the Treasury has just released a report into the JobKeeper Payment scheme. It shows that vast sums of money were transferred from taxpayers to companies that – in hindsight – should not have qualified for assistance. This includes almost $14 billion to businesses whose turnover increased during the lockdowns. This mis-use of taxpayer money leaves me with three big questions. continue…
by Andreas Lundberg Posted in Market commentary.
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Timely reminder of investing insights from Howard Marks – Oaktree
Scott Phillips
October 19, 2021
I was fortunate to recently hear from the legendary investor Howard Marks, one of the co-founders of Oaktree Capital* who gave the opening keynote address at the annual CFA Societies Australia Conference. Listening to his presentation was informative as always and I thought I’d share with everyone some of his key takeaways relating to today’s investing environment and ultimately successful investing. His presentation was titled” “Value Investing: A New Look.” continue…
by Scott Phillips Posted in Global markets, Market commentary.
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Should we import cheap foreign workers, or pay locals more?
Andreas Lundberg
October 15, 2021
The reliance of many Australian industries on cheap imported labour is highlighted by a recruitment drive currently underway in the UK to entice 500 hospitality workers with the promise of free flights, drinking and dining vouchers, and paid hotel quarantine. But is this reliance on foreign workers in the national interest? Or, given the high unemployment rate, would it be better to attract local workers by paying them more? continue…
by Andreas Lundberg Posted in Editor's Pick, Market commentary.
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An update of markets and commodities to 30 September
David Buckland
October 1, 2021
Given the sell-off in bond yields so far this year, rising inflationary expectations, and the collapse of the Evergrande Group in China, it is unsurprising many global share market indices took a breather and recorded a lacklustre September 2021 quarter in terms of performance. Of the major markets, the Hong Kong Hang Seng Index was down 14.4 per cent whilst the Indian Sensex Index was up by 12.0 per cent. continue…
by David Buckland Posted in Market commentary.
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How Macquarie’s Ric Deverell sees key macro trends playing out
Roger Montgomery
September 27, 2021
Ric Deverell is the highly respected Chief Economist and Global Head of Macro Strategy at Macquarie Group. So when he talks, it pays to listen. Last week, he presented his observations on macro issues like global economics and inflation, the pandemic, the Australian economy, China and the bond market. Here are the key take-outs from his presentation. continue…
by Roger Montgomery Posted in Editor's Pick, Global markets, Market commentary.
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WHITEPAPER
INTEREST RATES, THE BEST IT GETS. IT’S TIME TO DEPLOY CASH
Curious about the investment landscape in 2024? It appears that the current market offers a plethora of enticing opportunities for investors, a rarity not experienced since pre-pandemic times. This unique scenario stems from a confluence of factors, including elevated yields and comparatively rational equity valuations.
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Four reasons why rates will stay lower for longer
Roger Montgomery
September 22, 2021
A September research note by Macquarie Bank supports what we’ve been thinking for a while: that interest rates are set to stay low well into the future. And if we are correct, it means this market – toppy as it seems – has further to run. continue…
by Roger Montgomery Posted in Market commentary.
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Are we likely to see a correction or crash from the COVID-19 situation?
Roger Montgomery
September 13, 2021
Crashes tend to occur when investors are surprised by something. The unexpected or the ‘black swan’ event is what triggers fear and financial protectionism among investors. There are several reasons why I believe investors can be optimistic about the market over the next year or so, notwithstanding a temporary pull-back of 10-15 per cent is always possible and should be considered a normal part of every investors journey. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Three reasons why I am still bullish on this market
Roger Montgomery
September 10, 2021
Over the past 12 months, the All Ordinaries index and the S&P 500 have risen around 26 and 35 per cent, respectively. Not bad when you consider the economic ravages of the COVID-19 lockdowns. But despite these strong performances, there are three good reasons to believe sharemarkets will continue to climb over the coming year. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Despite declining efficacy, vaccines are our only way back to normal life
Andreas Lundberg
September 9, 2021
I have been reading the media reports noting the efficacy of COVID-19 vaccines declines over time. Thankfully, even with reduced efficacy, vaccines provide protection from serious disease, and a booster shot will increase efficacy. A high vaccination coverage provides the impetus for politicians to safely re-open our societies. And that will be a shot in the arm for many Australian businesses. continue…
by Andreas Lundberg Posted in Market commentary.
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Why unfettered capitalism is failing us
Roger Montgomery
August 31, 2021
One of the seemingly inevitable consequences of capitalism is the increasing concentration of market power in the hands of fewer and fewer large corporations. This issue was raised in a recent speech by ACCC Chair, Rod Sims, who noted the many ways in which increasing market power is adversely impacting Australian society. In his speech, Mr Sims also stated what I have long been advocating: governments need to do something about it. continue…
by Roger Montgomery Posted in Global markets, Market commentary.
