Investor Insights

June 3, 2020

The COVID quake may have structural aftershocks: Part I

By Amit Nath

COVID-19 has sent the global economy into recession. It will come as no surprise to readers that advertising is a cyclical industry linked to the macro economy. Generally speaking, when the economy is growing, advertising revenues are growing and when the economy is contracting, advertising revenues are contracting.
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June 1, 2020

EML looks set to thrive as economies reopen

By Dominic Rose

EML Payments (ASX:EML) is an exciting Fintech that delivers innovative payment processing technologies to organisations operating within many industries and countries. The business has weathered the COVID-19 lockdown much better than feared, and is now ideally placed to benefit as global economies reopen and the structural migration trend towards digital payments accelerates.
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May 29, 2020

The power of owning long-term winners

The power of compounding, or the “eighth wonder of the world” as Albert Einstein called it, can be counterintuitive sometimes. Small increases in annual returns, when compounded over long periods of time, result in very large increases in one’s investment. See the table below, for example.
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May 28, 2020

Avita Medical – a small cap with big potential

Around 12 months ago, we noted that Avita Medical (ASX:AVH) – which provides a novel approach to skin regeneration – was a business worth keeping tabs on.   Although its share price has felt the effects of the COVID-19 market sell-off, our positive view of the company has not changed.
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May 26, 2020

Earnings still matter

Indicators worldwide continue to reflect the damaging effects of the coronavirus pandemic and associated restrictions on economic activity and business profits. Yet puzzlingly equity markets have continued to rise. This suggests that the equity market does not seem to care about earnings – yet. History shows that in the long run earnings will still matter.
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May 26, 2020

Why I don’t expect a V-shaped recovery

By Roger Montgomery

The massive dislocations caused by the coronavirus pandemic are having only a temporary impact on stock markets, which are pricing in a V-shaped income, earnings and economic recovery. But is this optimism warranted? Or will we continue to see businesses negatively impacted for some time to come?
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May 19, 2020

The retailers to watch as the economy opens up

By Dominic Rose

In just a few short months, the COVID-19 pandemic and associated lockdown have triggered seismic shifts across the retail landscape. Some changes are likely to be temporary; others may accelerate previous structural trends.  As we emerge from hibernation, I thought I’d try to identify the businesses that should prove to be better investments in the years ahead.
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May 18, 2020

What is our “variant perception” to the market?

First, it was Warren Buffett not buying stocks and, indeed, liquidating large portions of his portfolio to build cash. Then, last week, we had Stanley Druckenmiller tell The Economic Club of New York that “the risk-reward for equity is maybe as bad as I’ve seen it in my career.
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May 14, 2020

How much worse can it get for REITs?

By Gary Rollo

The COVID-19 crisis – with the accompanying lockdown – has had a severe impact on many real estate investment trusts (REITs), particularly those exposed to discretionary retailing. The question is: have plummeting share prices opened up investment opportunities, or is there more pain to come?
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May 14, 2020

Old habits don’t die hard, they don’t die

By Roger Montgomery

During the depths of the market’s reaction to the Coronavirus outbreak I listened in on company and journalist conference calls and held multiple webinars and Microsoft Teams sessions with clients, planners and brokers.  Quite often I heard comments along the lines of, “this will change the way we live, work and travel forever”.
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May 13, 2020

How to profit from a rebound in oil prices

By Roger Montgomery

After 30 years of investing, I’ve learned that three or four times each decade a market reaches a historic level, either high or low, that investors shouldn’t ignore. Right now, the most obvious opportunity is the historically low oil price. Investors seeking to profit from an oil price recovery have several avenues to consider.
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