Fed puts rates on hold
Thursday, March 28th, 2019The US Federal Reserve acknowledges slowing economy and no rate rises for 2019 In a highly significant development for global markets, at the end of a two-day meeting in Washington, the US Federal Reserve decided unanimously to keep the target... Continue reading
Webjet a star result
Thursday, March 21st, 2019Webjet was one of the standout results of reporting season. The share price had come under significant pressure in the 4th quarter of 2018 because of concerns around the consumer environment in Australia and weaker travel activity in Europe. For those... Continue reading
Is Woolies an opportunity?
Thursday, March 21st, 2019Woolworths’ interim result last month disappointed and the shares fell briefly before rebounding to where they were before the result: around $30. Does this mean there is nothing to worry about after all and the stock is a buy? Not... Continue reading
Silent achiever: APN Property Group
Thursday, March 21st, 2019Markets and associated sentiment can be fickle. At times, companies can go about their business building value without necessarily being rewarded by the market. Small cap property focused asset manager, APN Property Group (ASX: APD), would fall into this bucket.... Continue reading
Stock in the Spotlight: Macquarie Telecom
Friday, March 15th, 2019Macquarie Telecom (ASX:MAQ) recently delivered a solid 1H19 result headlined by EBITDA of $25.5m for the half, up 14% and in line with expectations. Management provided first-time FY19 guidance of $51-$53m, implying growth of 10% for the fiscal year. The... Continue reading
Company Update: Orora
Friday, March 15th, 2019Since demerging from Amcor at the end of 2013, Orora (ORA) has delivered five years of consistent earnings and dividends per share growth. Dividends per share have increased from 3.0c in February 2014 to 6.5c in February 2019. This is... Continue reading
John Abernethy’s breakdown of the Berkshire Hathaway letter
Friday, March 15th, 2019In prior years, when we have reviewed Warren Buffett’s annual letter to shareholders, we have noted the unique structure of Berkshire Hathaway (“Berkshire”) and stressed its importance in facilitating the self-funding of its growth. Berkshire is akin to a “mutual”... Continue reading
Market Wrap: Positive reports
Friday, March 8th, 2019 Clime Group owns shares in RIO, WEB, BXB and HSN.... Continue reading
Solid returns outside the ASX50
Friday, March 8th, 2019Magellan Financial Group We recently initiated a position in MFG. A key rationale for this investment is that the resilient performance of Magellan’s global equities strategies through the recent market volatility is likely position the business for strong retail inflows.... Continue reading
Something’s gotta give
Friday, March 8th, 2019Australian company earnings update – eps growth of 3% for FY 19 The Australian company reporting season is almost complete. Reported company results have broadly been in line with expectations that had been lowered in the “confession season” last year.... Continue reading
The Japanese Syndrome
Thursday, February 28th, 2019In January 1990, the Japanese stock market as measured by the Nikkei 225 index was trading at above 38,000 points. Today, some 29 years later, the index is sitting just above 21,000 points – the same level as in both... Continue reading
Treasury Wine’s undervaluation outweighs its risks
Thursday, February 28th, 2019On balance, Treasury Wine Estates’ growth potential and undervaluation make the stock an opportunity at current prices, though investors may choose to manage their exposure to the unique risks in this stock through a smaller weighting than for other large-cap... Continue reading
Market Wrap: Two new positions
Thursday, February 21st, 2019 Clime Group owns shares in NGI, CSL, GUD, MFG, AMC and JIN.... Continue reading
Fed up … then put up
Thursday, February 21st, 2019In our new world of “fake news”, there are increasing observations of fake excuses, fake conclusions and fake reasons. In this environment, we suggest that January’s pronouncement of monetary policy changes by the US Federal Reserve (the Fed) through its... Continue reading
Company Update: Navigator Global Investments
Thursday, February 21st, 2019Navigator Global Investments (ASX:NGI) kicked off reporting season for the Small Caps sub-portfolio with a positive 1H19 update. Shares closed up 10% to $3.28 on the day. NGI’s wholly owned subsidiary Lighthouse Partners weathered a challenging December quarter, resulting in reduced... Continue reading
Bank rally post Royal Commission
Thursday, February 7th, 2019The Royal Commission’s (RC) final report was incrementally positive for the major banks because there were no unexpected, material or adverse outcomes and the core business of taking deposits and making loans was untouched. This explains Tuesday’s powerful relief rally,... Continue reading
Market Wrap: Pre-reporting insights
Thursday, February 7th, 2019 Clime Group owns shares in AD8, CCP, RIO, BHP, JIN & APT.... Continue reading
Super for some
Thursday, January 31st, 2019Just before Christmas, the Productivity Commission presented its final 700-page report to the Government titled “Superannuation: Assessing Efficiency and Competitiveness”. The Government released it to the public in early January. The Commission was instructed to “assess the efficiency and competitiveness of... Continue reading
Commodity Stocks Update: RIO & BHP
Thursday, January 31st, 2019After sliding during the December quarter market selloff, BHP shares bottomed on 26 November and RIO shares on 10 December. The subsequent rally reflects: The freeze of US tariffs on China at the November G20 meeting and subsequent US-China trade... Continue reading
End of Year Investor Briefing 2018 – Video Series
Thursday, December 20th, 2018Recorded in Sydney on the 23rd November 2018 Agenda Welcome and Introduction – Rod Bristow A Macro View for 2019 – John Abernethy Going global means growth – Pieter Fourie How we invest your money – Anthony Golowenko Clime Private... Continue reading
