Market commentary
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Then and now: A history of financial year returns across major asset classes
Dean Curnow
August 27, 2020
Fiscal year 2020 will be a year remembered for low-interest rates, growing geopolitical tensions, a black swan pandemic, broad sweeping fiscal bazookas and of course arguably one the largest asset sell downs and retracements in history – have I missed anything? continue…
by Dean Curnow Posted in Market commentary
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The firms that beat expectations this reporting season – and those that missed
Roger Montgomery
August 26, 2020
The majority of companies on the ASX100 and ASX200 have now reported. Many have beaten estimates. And, reassuringly, guidance is less negative than most market watchers had expected. This brings hope that FY21 may not be so bad for equity investors after all. continue…
by Roger Montgomery Posted in Companies, Editor's Pick, Market commentary
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Is it time to invest in travel stocks?
Tim Kelley
August 24, 2020
As far as listed companies go, travel stocks are probably ground zero for COVID-19. They have been among the hardest hit in terms of business and share price impacts, and share prices generally remain well below their pre-COVID-levels. continue…
by Tim Kelley Posted in Companies, Market commentary
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What if we get a vaccine but people refuse to be jabbed?
Roger Montgomery
August 19, 2020
Global share markets are being held aloft partly by the hope of a coronavirus vaccine coming sometime soon. But new research shows many people – including around 50 per cent of Americans – could refuse to get a jab. If that happens, then is it possible that what we are now living through will be the new normal? continue…
by Roger Montgomery Posted in Global markets, Market commentary
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Why it might be time to rebalance your portfolio
Roger Montgomery
August 14, 2020
Government stimulus measures and lockdowns have led to behavioural changes that have benefited some businesses while hampering others. But, as these stimulus measures taper, and restrictions ease, we’re likely to see a lot of spending habits return to ‘normal’. And that could have a big impact on many businesses, and their share prices. continue…
by Roger Montgomery Posted in Market commentary
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The simple realities of governing in a pandemic
Andrew Macken
August 4, 2020
Five months into the pandemic and one thing has become clear: eradication of COVID-19 is not a viable option for most nations. Instead, most are pursuing various forms of containment strategies aimed at buying time until widespread vaccinations can enable the return of more normal times. continue…
by Andrew Macken Posted in Global markets, Market commentary
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Why it’s time to focus on quality businesses
Roger Montgomery
August 3, 2020
In 1976, US economist, Herbert Stein, famously stated that “If something cannot go on forever, it will stop.” His observation could well be applied to the ballooning value of many technology companies, some of which have never made a profit, and possibly never will. Which is why this might be a good time to look at high quality businesses that have been left behind by the rally. continue…
by Roger Montgomery Posted in Companies, Editor's Pick, Market commentary
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Consumption data signal trouble ahead for many businesses
Stuart Jackson
July 29, 2020
JobKeeper has been incredibly important in supporting consumer spending in Australia. But recent data show that spending could be plateauing – even before JobKeeper is wound back. This could signal even worse times ahead for many businesses. continue…
by Stuart Jackson Posted in Consumer discretionary, Market commentary
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Worsening COVID-19 crisis casts a cloud over this market rally
Roger Montgomery
July 22, 2020
It’s little wonder many long-time investors don’t trust the ongoing rally in world share markets. With global COVID-19 cases on the rise, no vaccine in sight, and economic conditions quite precarious, it’s hard not to think a correction is just around the corner. continue…
by Roger Montgomery Posted in Market commentary
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What next for our slow-moving economic train wreck?
Roger Montgomery
July 20, 2020
Government support programs have helped to soften – and postpone – the financial blows from the disruptions caused by COVID-19. In so doing, they’ve also bolstered share markets. But, I doubt this can go on forever; looking ahead, we could experience an extended period of lower equity market returns. continue…
by Roger Montgomery Posted in Market commentary
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