Avita Medical's share price has been quite a ride over the past two years, but we still think it's a quality company. Here's why
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What is our “variant perception” to the market?
Andrew Macken
May 18, 2020
First, it was Warren Buffett not buying stocks and, indeed, liquidating large portions of his portfolio to build cash. Then, last week, we had Stanley Druckenmiller tell The Economic Club of New York that “the risk-reward for equity is maybe as bad as I’ve seen it in my career.” As equity markets continue to rise, investors are slowly getting nervous about the upside potential from current levels over the short and medium terms. Continue…
by Andrew Macken Posted in Global markets.
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Central Bank Liquidity and the Slippery Slope of Solvency: Part II
Amit Nath
May 18, 2020
In the first part of this series we discussed the enormous size and scope of the unprecedented actions taken by the U.S Federal Reserve Bank and the enormous balance sheet expansion and liquidity being pumped through the system. Today we will explore what this means for some of the more highly leveraged names in the high yield market. Continue…
by Amit Nath Posted in Global markets.
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How much worse can it get for REITs?
Gary Rollo
May 14, 2020
The COVID-19 crisis – with the accompanying lockdown – has had a severe impact on many real estate investment trusts (REITs), particularly those exposed to discretionary retailing. The question is: have plummeting share prices opened up investment opportunities, or is there more pain to come? Continue…
by Gary Rollo Posted in Companies.
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Old Habits don’t die hard, they don’t die
Roger Montgomery
May 14, 2020
During the depths of the market’s reaction to the Coronavirus outbreak I listened in on company and journalist conference calls and held multiple webinars and Microsoft Teams sessions with clients, planners and brokers. Quite often I heard comments along the lines of, “this will change the way we live, work and travel forever”. I am adamant in my belief that humans will revert right back to the way they have always done things, as soon as it safe (or permitted, whichever comes first) to do so. Continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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How to profit from a rebound in oil prices
Roger Montgomery
May 13, 2020
After 30 years of investing, I’ve learned that three or four times each decade a market reaches a historic level, either high or low, that investors shouldn’t ignore. Right now, the most obvious opportunity is the historically low oil price. Investors seeking to profit from an oil price recovery have several avenues to consider. Continue…
by Roger Montgomery Posted in Editor's Pick, Energy / Resources.
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US reporting season & earnings
Dean Curnow
May 13, 2020
With the U.S reporting season almost done and dusted, I thought I would share with our wider audience some interesting charts I have collected throughout the period. Whilst the commentary has started to turn to loosening the lockdown provisions and a return to normal, it is now key to track how companies earnings have and will continue to be impacted and how quickly management and the market can expect a recovery. Continue…
by Dean Curnow Posted in Global markets.
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Is Qantas a buy at the current price?
Tim Kelley
May 12, 2020
Among the more obvious victims of the COVID-19 pandemic have been the world’s airlines. In Australia, Virgin Airlines in April became one of the first large businesses to enter administration, and Qantas (ASX:QAN) has scaled back its operations to a tiny fraction of normal capacity and loses money every week while this continues. Continue…
by Tim Kelley Posted in Companies.
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When counterfactuals are hidden and histories alternative
Andrew Macken
May 12, 2020
Australia’s ability to “flatten the curve” amidst this once-in-a-century pandemic appears extraordinary. Against numerous epidemiological forecasts of a healthcare calamity, including overflowing ICUs and thousands of deaths, it appears the spread of COVID-19 has been largely contained. Continue…
by Andrew Macken Posted in Market commentary.
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