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Monday, 20 September 2021
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Some high-quality companies have emerged even stronger since the onset of COVID and are well placed for outperformance. We call these the ‘COVID Opportunists’ as they are now dominating their specific sectors.
Global equities offer higher return opportunities, portfolio diversification and exposure to specific themes. A broad index is the primary building block but there are many ways to enhance global returns.
Known as Dr Copper for the uncanny way its price anticipates future economic activity, copper has hit all-time highs. What are the forces at play and strategies to benefit from the electric metal’s strength?
It's complicated. Rising bond yields reflect optimism about economic growth and improving business conditions. But as the recovery matures, increases in bond rates prove counter-productive, kerbing economic growth.
A structural theme that will drive future earnings growth is the ‘emerging consumer’. The rising wealth in emerging economies will drive sub-sectors such as luxury goods, cosmetics, travel, global brands and alcohol.
Rather than marking the end of a bull run for technology, the recent sell-off is just a healthy correction and offers a great buying opportunity into technology leaders that have strong long-term earnings growth.
It has been three decades, and Japanese equities are still not back up to all-time highs reached at the end of one of the greatest bull markets in global history in 1989. Can we have lost decades in Australia too?
We tend to think of the 'stockmarket' as one beast, but it pays to know the drivers of the different parts, especially global versus Australian stocks. The outlook favours global due to better sector exposure.
The pandemic created a tale of two halves as stimulus bolstered market sentiment in the second half of the year. Many companies benefited from a quickly-transformed world and investors were eager to jump aboard.
Global equity markets have experienced huge volatility during 2020. Investors are now looking at stretched large cap valuations but there are good opportunities in less well-known, smaller companies.
The varying degrees of market performance are due to the mix of sectors and stocks in each index. The best plan of attack is to find quality companies in essential services at favourable prices.
Australian investors have a domestic bias, but around the world, a swag of small to medium cap companies offer better value than the mega-cap names that have driven markets in recent years.
Who knew? With some surprise results, the Government is on unexpected firm ground in asking people to draw on all their assets in retirement, although the comments show what feisty and informed readers we have.
The RBA Governor says rising house prices are due to "the design of our taxation and social security systems". The OECD says "the prolonged boom in house prices has inflated the wealth of many pensioners without impacting their pension eligibility." What's your view?
It's a remarkable statistic. In any year since 1875, if you had invested in the Australian stock index, turned away and come back eight years later, your average return would be 120% with no negative periods.
Never stand between Australian households and an uncapped government programme with $3 billion in ‘free money’ to build or renovate their homes. But excess supply is coming with an absence of net migration.
Picking macro trends is difficult. What may seem logical and compelling one minute may completely change a few months later. There are better rewards from focussing on identifying the best companies at good prices.