Value investing & the consideration of changing business conditions - 02/01/12

The recent collapse in the share price of JB Hi-Fi Limited (ASX:JBH) has stung many investors whilst highlighting the pressure on retailers in Australia. If you have followed our value investing blogs and reports for a while, it’s likely you’re … Continue reading →

Notes for the New Year, with a focus on housing markets - 21/12/11

Looking ahead at prospects for the share market in 2012 provides both reasons for optimism and notes of caution. Quite clearly, the inherent economic weaknesses of most western economies are still with us, and some weaknesses from the growth stories … Continue reading →

The View - 25/01/11

The international picture To the surprise of many, world equity markets have begun 2012 with a bit of a flurry. It certainly would have surprised the billionaires, the politicians, the economists, the hedge fund managers and the strategists who attended … Continue reading →

Volatility is here to stay - 02/11/10

“It is folly to be unconscious to the observable developments in world markets. It is even more dangerous to ignore the likely rapid changes in fiscal policies around the world. These policies will increase taxes across a whole range of … Continue reading →

How Australian Investors Can Profit Through World Deflation - 12/08/10

Six of the best stocks - 10/08/10

While market price earnings ratios are falling, some companies are seeing a lift in valuation. These are the ones that are generating high returns on equity, and have low debt. Such companies will shine if economic growth slows markedly or … Continue reading →

Will deflation become an issue in Australia? - 29/07/10

Yesterday’s CPI reading for the June Quarter of 0.6% should not surprise anyone. Just this week, we have had pronouncements from Australia’s largest retailers – Woolworths, Coles and Harvey Norman – which focussed on the deflation in food and appliances. … Continue reading →

Share market offers reasonable value - 14/07/10

“The Australian economy looks set to continue with reasonable economic growth. In our view, the Australian equity market continues to offer patches of reasonable value. Further, on any sensible analysis it is hard to justify why some highly indebted European … Continue reading →

Excellent investment opportunities on the horizon - 02/07/10

“By maintaining a realistic assessment of profitability (measured by ROE), maintaining a conservative required return (in our view well above 12% for most companies) and by seeking a margin of safety below a realistic assessment of value, we believe a … Continue reading →

Volatility is here to stay - 02/06/10

“It is folly to be unconscious to the observable developments in world markets. It is even more dangerous to ignore the likely rapid changes in fiscal policies around the world. These policies will increase taxes across a whole range of … Continue reading →