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March 2020 will go down as one of the crazier months in financial markets. March madness. Below, we explain what happened in March, how our funds performed, and how we are positioning our portfolios in this market. What happened? You’ve all …
Regardless of exactly when a correction might happen, it would not be a stretch to say that it’s late in the current investment cycle. And that usually means it is prudent to think about the level of defensive assets in your …
I’m fairly certain that at some point in the future, we will look back on this period and wonder how we could have ever believed that current negative interest rates seem reasonable. Right now, there are several trillion dollars worth of …
The discount opportunity Right now, LICs are under pressure as the average level of discounts is much higher than usual. What is also unusual is that these elevated discounts have appeared when the ASX has been going very well. History would …
We first started investing in LICs back in 2015. We didn’t start out specifically targeting them. But we realised there were some features in the LIC market that made them an attractive investment opportunity. The biggest positive from our point of …
In early 2009 in the depths of the financial crisis, I cut out a small section of the Australian Financial Review and stuck it on my wall. That piece of paper contained a list of short and long term interest rates. …
LICs continue to rise in popularity, and luckily for investors, the number and variety on offer continues to increase. Some of the more recent prominent IPOs include WAM Global Limited (WGB), L1 Long Short Fund (LSF) and the – Gryphon Capital …
If you watched any news or read a newspaper last month, it would be hard to have missed that there is a Royal Commission going on into banking and wealth management. Much has already been written about it, and I don’t …
The latest SPIVA results from Standard and Poors are in. They provide some important investment lessons on where to look if you’d like to find long-term outperforming managed funds, although that’s not the impression you’d get from reading the report. In …
Markets at the start of February have reminded investors that shares don’t always go up in a straight line. The Australian market dropped over 5% from its recent highs, and the US market dropped over 10% from its top. Considering the …
On Tuesday 6 February 2018, the ASX fell 3.4%. Tens of billions of value was wiped from stock markets around the world. We get a lot of questions about how we handle a day like that. What exactly do we do …
It appears over the last month that some of the wind has been knocked out of the sails of LICs, with a notable decrease in buying support. One possible reason is LIC investors selling to invest in the current crop of …