Thursday, December 20th, 2018
As an aggregate basket of stocks, ASX-listed small-caps have continued their downward spiral in recent weeks. The Small Ordinaries Accumulation Index has now fallen by about 13.1% in the financial year to date, largely reflecting growing macroeconomic concerns. In some...Click to view

Thursday, December 13th, 2018
Navigator Global Investments (NGI) held its AGM last week, giving us an opportunity to review our investment thesis. NGI was an early Model Portfolio holding within the Small Cap sub-portfolio, and one for which we have enjoyed a successful return...Click to view

Thursday, December 13th, 2018
Our last article covered the prospects for Coles after its demerger from Wesfarmers. Today we explore the new, post-Coles Wesfarmers itself and define what will determine its share price. We have long argued Wesfarmers should never have acquired Coles. The...Click to view

Wednesday, December 5th, 2018
The market prices banks within a range of price-earnings ratios (PERs); our view is this range should be lower than post-GFC when the four majors emerged with 90% of the mortgage market and a home lending boom ahead. Banks have...Click to view