Premier Investments shares surge as Smiggle takes on the world
Friday, October 11th, 2019The Clime Direct Model Portfolio owns shares in Premier Investments (PMV), which has portfolio of retail brands including Smiggle, Peter Alexander, Just Jeans, Jay Jays, Portmans, dotti, Jacqui E, a 28% shareholding in Breville and 10% of Myer. PMV shares... Continue reading
The View: Don’t Wake The Elephants
Friday, October 11th, 2019The volatility encountered this week in equity markets somewhat belies the intention of Central Banks, including our RBA, in keeping interest rates low. With bond yields at all time lows and cash rates plummeting, there should be plenty of support... Continue reading
Helloworld: A World of Opportunity
Friday, October 11th, 2019Helloworld Travel Limited (ASX: HLO) provides a diverse range of travel distribution services to consumers and corporates including flights, accommodation and tours. HLO controls Australia’s largest network of over 2,400 independent franchised travel agents. Although HLO operates in a competitive... Continue reading
Company Update: GUD Holdings
Thursday, September 26th, 2019GUD Holdings owns a portfolio of leading brands in automotive aftermarket parts, supporting the servicing requirements of Australia and New Zealand’s car parc of over 17 million passenger vehicles. GUD’s share price is down 35% from its peak in August... Continue reading
When the market ignores a black swan
Wednesday, September 25th, 2019The attacks on Saudi oil refineries last weekend should have caused more significant oil, equity and bond market reactions than they did. The relatively muted oil price jump, to prices below the levels of a year ago, has now almost... Continue reading
Market Wrap: Finding new positions
Tuesday, September 24th, 2019With the August Reporting Season well and truly in the rearview mirror, we are now set to review our current model portfolio positions and focus on potential new additions for the portfolio. Bravura and Woodside Petroleum are two holdings that have seen plenty of... Continue reading
Large-cap round up
Wednesday, September 18th, 2019BHP and Rio Tinto Despite BHP’s disappointing FY19 result the stock is now trading higher than after the result. This is because the US-China trade conflict has not escalated further, investors hold hopes for the next round of talks between... Continue reading
Fiscal vs Monetary Policy
Monday, September 16th, 2019Despite all the volatility and news of this year, and all those tweets and US-China trade tensions, the S&P500 is back to within 1 per cent of its recent record high and the ASX All Ordinaries is within 2 per... Continue reading
Company Update: Navigator Global Investments
Thursday, September 12th, 2019As markets were capitulating during the GFC, Warren Buffett made one of Wall Street’s most famous bets, offering a $1m wager that the S&P 500 would outperform any hand-picked selection of hedge funds over the following decade. Protégé Partners accepted... Continue reading
Deriving income from resources and financials
Wednesday, September 11th, 2019Where can investors find consistent, attractive dividend yields when term deposit rates are so low? Many investors will be looking at the apparently superior yields on banks and major miners and wondering if they should be part of an income-oriented... Continue reading
An unconventional RBA
Tuesday, September 10th, 2019The Australian Financial Review reported last week that the Reserve Bank of Australia (RBA) deputy governor Guy Debelle had suggested it is possible that interest rates could fall to almost zero and the RBA may resort to unconventional stimulus measures... Continue reading
Small cap reporting recap
Thursday, September 5th, 2019The Clime Small Cap Sub-Portfolio results were more or less consistent with our forecasts with no big surprises. Nevertheless the market reacted very strongly in some cases. We will provide updates for each holding in coming weeks. But we’ll start with... Continue reading
Comfortable and Relaxed – Not
Thursday, September 5th, 2019Do you sometimes get the feeling that life’s certainties, the things we usually take for granted, are actually quite uncertain? That the activities we all do daily, like breathing clean air, or perhaps walking to your office in the city,... Continue reading
Company Update: Lovisa
Tuesday, September 3rd, 2019Lovisa is a highly profitable and well-managed business with a global store rollout which is fully funded by free cash flow. The business currently has net cash and generates an ROE of 75%, gross margin of 80% and EBIT margin... Continue reading
Trade surplus – But who cares?
Friday, August 30th, 2019Australia is lucky that President Trump does not rule the world, for he would claim that our massive FY19 trade surplus would need to be curtailed. The trade surplus is mainly generated with China through our massive commodity and energy... Continue reading
Market Wrap: In the thick of reporting
Friday, August 30th, 2019Company reporting has been coming in thick and fast this past fortnight for the Clime Analysts. We managed to pry them away from the phones and screens to bring you this brief update on recently reported companies – Seek, Audinate,... Continue reading
Ramsay delivering healthy income
Wednesday, August 28th, 2019The significant compression of already historically low interest rates across many developed markets, including Australia, has left many investors scrambling for access to lower risk sources of sustainable income. This further enhances the relative attractiveness of good quality, higher-yielding opportunities... Continue reading
Company Update: IMF Bentham
Thursday, August 22nd, 2019Australian global litigation funder IMF Bentham (ASX:IMF) was a recent Small Cap addition to the ASX Model Portfolio. Clime last held IMF over 2016 and 2017, and we believe now is a good time to hold again. IMF is a... Continue reading
Bonds in a bind
Tuesday, August 20th, 2019Over recent weeks the trade war ebbed and flowed, Hong Kong erupted in more protests, both the UK and Germany teetered on recession, New Zealand’s central bank stunned markets by dropping its benchmark rate by 50 basis points , Thailand... Continue reading
Market Wrap: Reporting season kicks off
Thursday, August 15th, 2019The August Reporting Season had barely begun before the Trump Administration escalated its trade war with China, announcing new tariffs on Chinese imports. This is now dominating the Reporting Season with very heavy falls on the ASX. In this week’s... Continue reading
