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24 April 2024

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Naos

1-12 out of 15 results.

WAAAX and an extraordinary disconnect

Frustratingly for investors in micro-caps, the larger companies which now include the WAAAX market darlings are running quickly ahead of their smaller cousins. It's a waiting game for the tide to turn.

Sebastian Evans: hanging on until the market catches up

A fund manager on the wrong side of the market must tough it out and have the strength of their convictions, satisfied that their investment process will bear fruit over the long term. The LIC structure gives more time.

3 principles for finding dividend sustainability

Check the cash flow characteristics and sustainability in any company before investing, as various ratios can be an early sign that the business is churning through rather than generating cash.

4 lessons from Marks on protecting capital

Company valuations will react differently to market conditions, and a stock priced for rapid growth in earnings may be most vulnerable during a market shock or downturn. Lessons are drawn from Howard Marks.

6 checks on whether acquisitions create value

Companies always boast the synergies and growth prospects of acquisitions, but dig a little deeper with these questions and you might see why most of these deals fail to add value when finally bedded down.

Five actions to watch in management share buying

Watching the commitment to buying shares by senior executives and board members can be a powerful pointer to company prospects, but investors need to read the right signs.

The importance of corporate culture in investing

The definition of capitalism needs modernising, including how a company treats its personnel and customers. Socially responsible companies significantly outperform the averages in job creation and ROE.

Three checks to make when facing earnings downgrades

Earnings downgrades are not always bad news. They may present buy-side opportunities if the stock is oversold. It's best to assess the circumstances via a checklist without panicking.

A checklist for buying LICs at a discount

Plenty of LICs trade at a discount to their NTA value, often for good reasons, but there are opportunities to benefit from a narrowing of the discount if an investor knows what to look for.

What we look for on company site visits

A company site visit can reveal far more than an annual report or a presentation in an office, and it’s the hidden insights that are easy to miss that are the most valuable clues.

Five ways to avoid the 'value trap'

Value investing is not just about a low P/E or EV/EBITDA. Other metrics need to be considered to prevent falling into a value trap, as well as what challenges are facing the industry and the time frame allowed for success.

Corporate activity helps build a small cap portfolio

Watch the many different forms of corporate activity for clues to the way management is thinking about a company’s future and the ways to finance its growth. This can be especially useful for investing in small cap stocks.

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Five months on from cancer diagnosis

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Is Australia ready for its population growth over the next decade?

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Why LICs may be close to bottoming

Investor disgust, consolidation, de-listings, price discounts, activist investors entering - it’s what typically happens at business cycle troughs, and it’s happening to LICs now. That may present a potential opportunity.

The public servants demanding $3m super tax exemption

The $3 million super tax will capture retired, and soon to retire, public servants and politicians who are members of defined benefit superannuation schemes. Lobbying efforts for exemptions to the tax are intensifying.

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