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Friday, 10 April 2020
Recently trending How $200 billion is magically createdHoward Marks on 'Which way now?' - UPDATEDWhat are the possible economic effects of COVID-19 on the world economy?Note to Australia: be more French in the COVID-19 warWelcome to Firstlinks Edition 351
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A global portfolio of infrastructure assets allows trends in one part of the world to be recognised early in another, while companies with pricing power and high barriers to entry enjoy extra resilience.
In this fascinating travel diary, learn how Japan gives investors access to quality infrastructure assets trading at attractive multiples. The country is opening itself up to the world like never before.
The investment opportunity in listed ‘real assets’ in Australia is almost $250 billion. Offices, roads, warehouses, airports, pipelines and shops are the foundation of economic growth.
Australia is an outlier in energy. We are the world’s leading LNG and coal exporter, yet we have high energy costs and we lead the world in CO2 emissions. What does the future bring?
Infrastructure assets usually benefit from long-term, stable and predictable cash flows, giving them defensive characteristics, with airports traditionally offering reliability even in difficult economic conditions.
Australia is in a relatively good position to borrow $200 billion, with the RBA using printed money to buy bonds in the market. The long-term consequences are better than the alternative.
Howard Marks is the largest investor in the world in distressed securities. What does he think after checking the virus positives and negatives, and how much has he changed his mind in only a few days?
In a widely-quoted scenario using estimated attack and fatality rates of coronavirus, about 0.07% of the population of the US dies. That's about 230,000 people, which the market is not ready for.
Andrew Baker is well-known as a superannuation consultant. Now working in the UK, he was caught in France with his family and is in lockdown. He worries Australian policy was too slow.
The $130 billion wage stimulus is astounding in its generosity and scope. It's equivalent to the annual budgets for defence, education and health combined. A cafe owner told me a casual dishwasher who was paid $60 for two hours work a week now wants the $1,500 fortnightly payment. Shane Oliver exclusively explains where $200 billion will come from, and some longer-term consequences.
Hamish Douglass outlines the three main issues in the outbreak of coronavirus, with consequences which may change businesses and consumers forever. Will we face V-shape, U-shape or depression?