Each half, as part of our outlook for the coming six months, we provide a series of "anti-forecasts" for what will NOT happen over this period. This is a light-hearted way to approach the vagaries of forecasting to look at things from the...

In this excerpt from the latest newsletter on the Newgate Real Estate and Infrastructure Fund, we make the case for a significant slow-down, if not contraction, in the Australian economy, and describe our rationale for our short position...

There is growing interest in environmental, social and governance (ESG) considerations in investing. Many people feel a justifiable abhorrence at a lot of corporate behaviour and at the same time an appreciation that companies are part of...

A list of 12 books for serious investors

With the volatility of 2018 continuing into early-2019, what should investors be looking for, and which companies are best positioned to survive?

In our office, we have switched from Secret Santa to Bad Santa. In Bad Santa, each member of the office draws a number from a hat. The lowest number then starts by picking and opening a present from a pile of wrapped presents. The next...

For the last twelve months Arminius has been pointing out that the next financial crisis is fast approaching, and that it will be very different from the GFC. The GFC was a banking crisis triggered by massive defaults on securitised...

Adam Smith, the author of The Wealth of Nations and arguably the first modern economist, famously said: "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to...

Photocure (FRA: PHS), also known as The Bladder Cancer Company, develops products and services with the aim of improving the lives of bladder cancer patients. Photocure has a current market capitalisation of USD $130m and we estimate 2018...

It is not often you will get this writer singing the praises of our bank regulator. But the recent discussion paper1 released by APRA on how to increase capital to meet global standards for our major Australian banks, in our view, is not...