Investor Insights

Archive: April, 2020

April 30, 2020

Is it finally safe to buy?

By Roger Montgomery

With the Australian market rebounding strongly, some investors could be experiencing a fear of missing out. But an analysis of economic conditions tells me there’s no rush to dive in. With the market looking expensive, so many uncertainties in the world, and a growing list of dilutive capital raisings, is it a good time to sit on your hands?
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April 30, 2020

Reporting season roundup

Every quarter when reporting season rolls around, there are always new insights gleaned that can provide a broader read-through on emerging trends. Perhaps with the uncertainty from the COVID-19 (C19) pandemic, this reporting season will be watched for clues more eagerly than usual.
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April 29, 2020

Where to invest in a post-lockdown world

By Roger Montgomery

Now that governments are talking about re-opening the economy, investors can start thinking about the businesses that might provide the best returns as we emerge from economic hibernation. Here, I give a quick appraisal of the investment landscape, and identify the key attributes of businesses that I think will rebound the hardest.
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April 28, 2020

Why we like Ping An

Ping An Insurance Company is arguably the most successful insurance company in China and the largest insurer globally by market capitalization. Ping An is anchored by its industry-leading life and health insurance business (Ping An Life) and has an attractive satellite of other insurance, banking and fintech operations that combine to form a robust financial services ecosystem.
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April 27, 2020

After raising capital, is Flight Centre now a good investment?

When governments around the world shut down travel in order to contain the spread of COVID-19, Flight Centre Travel Group (ASX:FLT) suddenly found itself on its knees. Its share price plummeted, from $40 to around $9. Now, post a capital raising, the business can breathe easy for a while. But is it a good investment?
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April 23, 2020

Why the big banks are underperforming the market

If you’re holding shares in an Australian bank – particularly National Australia Bank (ASX:NAB), Westpac (ASX:WBC) or Australia and New Zealand Banking Group (ASX:ANZ) – then you’re likely feeling less wealthy than you were back before Coronavirus was a household word.
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April 23, 2020

Four mining services companies where we see value

By Dominic Rose

Investing in small cap mining services firms is not for the faint hearted given their exposure to the commodities cycle. But with the sector down around 40 per cent year to date (vs Small Ords down 23 per cent), and most major miners continuing to produce, we see value as attractive for the risk.
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April 22, 2020
WHITE PAPERS

Investing in pandemic markets

By Roger Montgomery

Stuck with one per cent returns on cash balances, investors migrated to equities for their superior yields and hoped-for capital gains. What was forgotten in the mad dash for a better return, was that ‘one per cent is better than minus twenty.
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April 22, 2020

Are equities disconnected from the real economy?

In this continually-evolving crisis, we update our investors again with a brief summary of how we are assessing the risks for our global equity portfolios. The coronavirus The most important datapoint in determining the economic cost of this pandemic is its duration. This will dictate the length of time that consumers and businesses face restricted activities.
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April 20, 2020

Why Flight Centre needed to raise capital – and fast

With the Australian share market rallying strongly in April off the 25 March low, there has been a spate of capital raisings by cash-strapped companies looking to reduce debt and/or ‘pay the bills’.  One of those is travel retailer, Flight Centre (ASX:FLT).
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April 15, 2020

Has NEXTDC caused some stormy weather in shortville?

By Gary Rollo

Short selling is a consistent feature of the equity market and much was written earlier this year about Tesla’s equity journey with its short sellers. But what about the short selling story at NEXTDC (ASX:NXT), one of Australia’s most shorted stocks?  Did shorting NXT pay off? NEXTDC short thesis NEXTDC has been a popular short.
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April 14, 2020

The global economy is in critical care

Much has been said about the public health crisis that has been caused by the novel coronavirus and the COVID-19 disease. As dreadful as this pandemic will be (and already is) for so many lives around the world, the damaging effects on lifestyles has commenced. Let’s see some recent economic data.
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