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Coming to a city near you

As part of rolling out a fund, we are going to start a series of MB seminars around the country, and we are looking for input as to the best location.   The rough format will be a few hours talking investment themes and strategies on a Mon/Tue/Wed night. Myself, David & Leith will be


Kennett slams Bernardi, praises One Nation supporters

From Domainfax: Liberal Party stalwart and former Victorian premier Jeff Kennett does not believe that his party is in a “panic” about One Nation and has predicted closer alignment with Pauline Hanson’s party in Parliament. Mr Kennett has also attacked conservative Liberal Senator Cory Bernardi who was reportedly thinking of splitting from the party, saying the


Loon Pond on verge of historic Coalition split

The latest victim of Do-nothing Malcolm is the Liberal Party of Australia, via The Australian: Fears are mounting within the ­Liberal Party that maverick South Australian senator Cory Bernardi is set to split from the Coalition to spearhead the new Australian Conservatives party, with an ­announcement expected in the new year. The conservative firebrand and


Trump abandons “drain the swamp”

If you’re still holding to Donald Trump as a saviour for the people then think again: Trump is a card-carrying oligarch with an astonishing array of millionaires and billionaires appointed to his leading cabinet positions, as well as the policies to match in deregulation and wealthy/corporate tax cuts. He is not for “the people”.


Goldman has turned uber-bullish Australia

From Tim Toohey at Goldman: Looking through some negative news flow… Following on from the material contraction in GDP reported for the September quarter, Monday’s mid-year economic and fiscal outlook incorporated news of a further deterioration in Australia’s public finances. Against this negative backdrop, it is not surprising that surveyed sentiment has been under some


Do-nothing Malcolm does nothing on innovation

Via The Australian: A year ago, when Sydney start-up accelerator Blue Chilli conducted a four-week campaign to recruit new entrepreneurs to its program, it got 140 applications. A few months ago, when it launched She Starts, a program aimed at attracting young women entrepreneurs, it got more than 800 applications for 10 positions. “We are


So when is Australian decline a problem, grey-beards?

The MYEFO remain center-stage today as we wend our way through Australia’s grey-beard commentary responses. The tone is, as usual, soothing. Alan Kohler is a picture of nonchalance: Standard & Poor’s was looking to the MYEFO for a reason not to downgrade Australia; Moody’s and Fitch were looking for a reason to do it. It


The US/China proxy Cold War is already well underway

From the FT: Philippine president Rodrigo Duterte has cast himself as a strongman who talks straight, busts crime and shrugs off international condemnation of his bloody war on drugs. Now a debate is growing over whether his administration is tilting towards autocracy in the mould of the former dictator Ferdinand Marcos. Supporters of the 71-year-old president have dismissed


Deluded RBA thinks its can hold

From the RBA minutes: In considering the stance of monetary policy, members discussed the policy decisions made throughout the easing phase since late 2011, during which the cash rate had been lowered in aggregate by 3¼ percentage points. The lower rates had helped support the economy in the transition following the mining investment boom and, more


Double Dutch Disease comes for Alcoa

From The Australian: The demise of Alcoa’s Portland aluminium smelter would rob $800 million from the national gross domestic product, devastate Victoria’s southwest and threaten jobs as far away as Western Australia, according to a new report. As federal Industry Minister Greg Hunt and his Victorian counterpart Wade Noonan flew to New York for crisis


Is Jessica Irvine a robot?

You will cheer up and buy a property or you will be exterminated: Reading Edward’s thought-provoking and deeply reassuring paper throws up the following reasons for optimism. First, despite the crazy elections, the real US economy is picking itself up off the floor. After a long recession, spare capacity is being used up, leading the US


Gloomy S&P pikes downgrade

From S&P: S&P Global Ratings said today that the Australian government’s mid-year budget update has no immediate effect on the credit rating or outlook on the Commonwealth of Australia (unsolicited ratings AAA/Negative/A-1+). The government’s worsening forecast fiscal position, as outlined in its latest budget projections earlier today, further pressures the rating. We remain pessimistic about


And now for the MYEFO of Lies

He just never learns. Having placed the nation on downgrade watch owing to lies in May, Treasurer Scott Morrison has doubled down in his MYEFO.  He has downgraded the Budget outlook by $10.3bn over four years: But is still projecting a surplus in 2021: Even though has absolutely no way to get us there. Except


Banana republicans declare Straya Banana Republic

This nation is rapidly disappearing up its own cloaca at the AFR: The head of the former Abbott government’s budget audit commission, Tony Shepherd, has warned Australia is becoming a “banana republic” and that Monday’s budget update will confirm the nation is living beyond its means. Until Australians recognise and understand the scale of the


Do-nothing Malcolm’s housing affordability inquiry recommends nothing

Via the ABC: A parliamentary inquiry established nearly two years ago to investigate housing affordability has made no recommendations, drawing strong criticism from the Opposition. The committee report came after a lengthy debate on negative gearing during the election campaign and amid skyrocketing house prices in Sydney and Melbourne. Last month, NSW Planning Minister Rob