NEWS
US Treasury Term Premium: Pricing for Disaster
The term premium is the difference between bond yields for a given maturity and the expected path of short-term interest rates over the same period. By examining the term premium of the US treasury market, we find that this is now of a...
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Valmec - A microcap infrastructure name flying under the radar
Valmec Ltd (ASX:VMX) is a diversified energy and infrastructure services group that provides essential services to the oil and gas, resources and infrastructure sector in Australia. We like the company's exposure to the growing sectors in...
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Bank to the Future II
Countless tech visionaries have talked about the potential for "disrupting" the banking industry. Some have even started companies which competed with traditional banks. To date, none of these companies has had much impact on the incumbent...
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Corporate Governance: Turning the Tables on Institutional Investors
In the light of a plethora of commentary on ESG issues we wanted to re-post our observations on ESG in Asia. This is by Kevin Smith Head of Asia Pacific Equities at Delft Partners.
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Facebook Faceplant
Last month, with a great fanfare and many pious platitudes, Facebook announced its proposed global cryptocurrency, Libra. We, along with many others, expressed doubt that Libra would meet the regulatory standards which are mandatory in...
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New Funds on Fundmonitors.com
Here are some of the latest additions to our database. Follow the links to view each fund's profile, where you'll have access to their offer documents, monthly reports, historical returns, performance analytics, rankings, research,...
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Crazy Bankies Misread APRA
Last year, APRA issued a discussion paper on how it intended to add a further 5% of additional capital to protect depositors and governments (who are effectively deposit guarantors) in the case of bank insolvencies.
Last week,...
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Auto Trader: Finding opportunities amongst the Brexit wreckage
Auto Trader embodies many of the quality characteristics Fairlight is searching for; recurring revenues, excellent cash flow conversion and strong organic growth. Although quality is paramount when assessing businesses, Fairlight is not...
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Winning at the IPO Game
At Cyan, over this period, we have considered approximately 50 of these listings (we don't invest in resources or biotechnology which make up many of the new market entrants) and have put money into just 11. Despite both our cynical nature...
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Who needs kids when we have Fluffy and Rex - The $125 billion growing Megatrend
Global pet care surpassed US$125 billion in 2018 (Euromonitor International). 73% of that was on pet food. What's more, when recession hits, pet food is the last item on the shopping list to be traded down to a lesser perceived quality or...
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