Is the recent collapse in the share price of Company ABC a buying opportunity (noise), or symptomatic of underlying change in the company’s prospects (meaning)?  Read More

The past 12-months have marked a turning point for global equity markets, as they experienced the first retraction in Price-Earnings (PE) multiples since 2011.  Read More

Interest-Bearing Securities, or Bonds, provide a key source of income and portfolio ballast to any asset allocation, an importance that has been highlighted by the market turmoil of 2018.  Read More

The listed property (A-REIT) market as a whole experienced a difficult 2018 as the spectre of higher rates early in the year, contracted earnings multiples.  Read More

2018 has been a year of recalibration by market participants, after the goldilocks euphoria of 2017 – where all asset classes simultaneously rose.  Read More

12-months ago global growth reached a post-recession peak as we experienced synchronised global growth across many different countries.  Read More

The Australian economy is expanding, with GDP of 3.4% and unemployment at 5.0%. This growth has supported the increased revenues of the ganders (Commonwealth and State Governments)... but what about the geese (households)?  Read More

After nearly a decade of increasingly easy monetary policy, characterised by steadily declining central bank interest rates and quantitative easing – the printing of money to buy long-term bonds with the intent of reducing long-term yields – the ...  Read More

Retail sales for July were unchanged from June, going against hopes for a rise of 0.3%. Whilst only a monthly statistical read, it joins a number of poor monthly reads. This, combined with a fall of 0.6% ...  Read More

Properly diversifying your investment pool not only means diversification at an asset class level but also diversifying individual exposures at the security level.  Read More