The broking house I worked for in 1990 lost their number one rated media analyst. We were in the UK and he had just written a brilliant piece of research on Maxwell Communications. The research lifted the lid on one of the most powerful...

Should the recent rally provide comfort or concern for investors?

The recent equity market rally has provided relief and hope to investors, but in the face of deteriorating fundamentals it increases the risk for equity investors.

As I reflect on the financial year just gone past it goes without saying that navigating markets through the challenges of COVID has certainly been an experience. But there was also a big lesson that I'm sure many investors can...

After the heavy contractions in GDP throughout the world following the COVID pandemic, governments are under a lot of pressure to directly boost GDP. With borrowing costs low, one area that is increasingly in focus is infrastructure where...

A widely accepted maxim in the value investing ideology is the notion that acquisitions destroy value. Indeed, few topics seem to enjoy such a cheery consensus amongst analysts, experts, and academics. Despite the evidence that...

Demand growth for healthcare services is not tied to the economic cycle, which all else being equal, has historically made healthcare companies attractive investments, particularly during cyclical downturns. This downturn has been somewhat...

Is central bank support for corporate bond markets truly unlimited? Our sense is decidedly not. Corporate bonds are not a natural asset for central banks to own and investors need to be aware of the risk that central bank...

Our data scientists' analysis of Victoria's COVID-19 infection trajectory has unearthed a disturbing finding: it would appear that since April our southern neighbour has systematically underperformed the rest of Australia's key...

The nature of the post COVID-19 business operating environment is unclear. Consumer willingness to go out and employee caution and practicalities of a return to the office will weigh on consumption. Businesses have deferred...

COVID-19 has posed an incredible challenge to the Australian economy. Following broad stimulus measures, more recently Federal and State Government attention has narrowed to specific sectors. The highly cyclical housing construction sector...