In today’s investment webinar, MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Marketing Coordinator Jayden Stent uncover if Company Profits are booming or busting? On the agenda: Top down US Earnings Regional Earnings Sector earnings Inflation Individual stocks Investment outlook View the presentation slides Click here to subscribe to our
September 2021 Australian property market affordability update Australian property market prices continued to climb over the last month, with the past six months seeing some of the strongest growth on record. Mortgage fixed interest rates rose slightly, standard variable rates fell slightly but remain significantly above fixed rates. There are some extraordinary divergences in affordability.
In today’s investment webinar MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Marketing Coordinator Jayden Stent discussing if an Energy Crisis is inevitable On the agenda: Roll up for the amazing energy bubble Demand drivers Supply drivers Paths of resolution Investment implications View the presentation slides Click here to subscribe
September saw stock markets pull back as issues around growth and inflation hit markets. Our core portfolios performed much better than markets, our core Australian portfolio was flat vs the Australian market down 2%. Our core International fell 2% vs the MSCI World down 3%. The Chinese property slowdown has been lost in headlines worried
In today’s investment webinar Nucleus Wealth’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Marketing Coordinator Jayden Stent discuss Stagflation! View the presentation slides On the agenda: US inflation strong Chinese inflation weak, except for US Commodities battleground/energy crisis Monetary and fiscal policy Australian inflation Investment implications Click here to subscribe to
In today’s investment webinar MB Fund’s Head of Investments Damien Klassen, and Senior FInancial Advisor Mark Monteiro are joined by Matthew Johnson, the Principal of Signal Macro to discuss our thoughts on why Australian Banks are so profitable compared to International Banks. Click here to subscribe to our YouTube channel to be notified when this
In today’s investment webinar, MB Fund’s Head of Investments Damien Klassen, and Senior Financial Advisor Mark Monteiro sit down to discuss China’s new Economic contagion (their construction sector) View the presentation slides On the agenda: – Evergrande a symptom, not a cause – World wages rebounding – Structural changes are muddying the water – Australia
I’ve got a few quick thoughts on Victorian vaccine targets because I would love to get out of lockdown a few weeks early, and I think we have the wrong vaccine policy settings to do that. Now, don’t get me wrong. We are only talking a few weeks either way, but the policy changes are
August was another strong month for the stock market. Our tactical portfolios performed well. Growth led the way up 2.9% over the month. We spoke last month about selling Australian stocks into the rallies, believing there will be a slow down in the next few months led by China and so far in September that
In today’s investment webinar, MB Fund’s Head of Investments Damien Klassen, and Senior Financial Advisor Mark Monteiro are joined by Private Debt specialist Jonathan Rochford of Narrow Road Capital, and Insolvency expert Barry Kogan of McGrathNicol to answer the question “where are all the broke companies?” On the agenda: What Barry & Jonathan are seeing
August 2021 Australian property market affordability update Australian property market prices continued to climb over the last month, with the past six months seeing some of the strongest growth on record. Mortgage fixed interest rates were steady, standard variable rates fell slightly but remain significantly above fixed rates. There are some extraordinary divergences in affordability.
In today’s investment webinar, MB Fund’s Head of Investments Damien Klassen, Head of Operations Shelley George, and Senior Financial Advisor Mark Monteiro shed light on how Trump broke the Shiller P/E ratio, and how we’d suggest fixing it For many value investors, the Shiller Price/Earnings ratio is the holy grail. There are a number of
I had a fascinating space investment conversation (podcast) yesterday with Dr Andrew Barton, an engineer specialising in space technologies with a long career in both Australia and internationally. For me, what is incredible is the pace of cost reductions being seen in the sector. Elon Musk’s SpaceX has brought the cost of launching equipment into
In today’s investment webinar, MB Fund’s, Head of Investments Damien Klassen, and Senior Financial Advisor Mark Monteiro are joined by space investment professional Dr. Andrew Barton to discuss opportunities in the industry and if your portfolio needs space On the agenda: Background on recent breakthroughs and cost changes Current investment avenues: defence contractors, SpaceX/Blue Origin,
Last week I dealt with the less controversial changes to the Shiller P/E. You probably want to read that first. In this post, I derive a more advanced version: CAPE 3.0. The main finding? If you measure it differently, the last 20 years go from being an expensive aberration to a typical investment period. Factors
In today’s investment webinar, MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Senior Financial Advisor Mark Monteiro discuss the Chinese Economy’s Hard Landing On the agenda today: Background Three scenarios: hard landing in old economy; hard landing in wider economy; bailout. Investment implications View the presentation slides Click here to
For many value investors, the Shiller Price/Earnings ratio is the holy grail. There are a number of problems with the ratio which are making it look way more expensive than it is. If we fix just some of the least contentious issues, the Shiller P/E looks almost 25% cheaper. That (still) doesn’t make the market
The MB Fund are delighted to have received the 2021 IMAP Managed Account Award in the Innovation category! Innovation is a core part of the MB Fund. We know a lot of companies say that, and it’s almost a prerequisite of doing business these days, but it’s a value we’ve ingrained in the fabric of Nucleus
In today’s investment webinar, MB Fund’s Chief Economist Leith van Onselen, Head of Investments Damien Klassen, and Senior Financial Advisor Mark Monteiro set the scene for the rocky economic path out of lockdowns On the agenda: The consensus view is that Australia’s economic rebound will be swift once lockdowns ease. But there is good reason
For those playing along at home… There are four different outbreaks. Western Melbourne is looking bad. So is Shepparton. Northern Melbourne doesn’t get the headlines but is quietly grinding higher. An optimist would say other areas are getting better, a pessimist would say that they are not getting worse.
Two quick charts to separate out the regional cases from the rest of Victorian cases. Seven day averages do not look good… Three day averages are suggesting success: Good news.
In today’s investment webinar, MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Financial Advisor Mark Monteiro discuss if wages will grow in 2021 – 2022 On the agenda today: A decade of stagnation World wages rebounding But structural changes are muddying the water Australia has different issues Investment implications View
In today’s investment webinar, MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Financial Advisor Mark Monteiro discuss what’s seemingly been the shortest commodity supercycle ever On the agenda: No more talk of a commodity supercycle Macro perspective China Micro Investment Implications View the presentation slides Can’t make it
Most of the global reporting season is over before the Australian reporting season has begun. It has been a cracking reporting season; upgrades are running as high as they ever have for US large-cap stocks: As many of you know, I’m tracking two potential scenarios: Stock markets grind higher on the back of improving earnings
June was another strong month for the stock market. Our tactical portfolios performed well, up between 0.9% and 2.1% over the month. On the one hand, we timed the rotation out of value stocks and into quality stocks well; the inflation fears that were so prevalent a few weeks ago have faded as our inventory supercycle thesis
Australian property market prices continued to climb over the last month, with the past six months seeing some of the strongest growth on record. Mortgage interest rates edged higher as the Reserve Bank of Australia ended its Term Funding Facility. There are some extraordinary divergences in affordability. It has never been cheaper in some markets
The market is oscillating between value and growth months. In May it was the turn of value portfolios (including ours) to outperform. Our direct equity portfolios beat benchmarks by over 1% on the month and our tactical asset portfolios finished up between 1% and 2.7%. We have, however, called time on the value trade. The
This is the final in our series of four posts on the contrarian view for inflation. This time we look at what to do from an investment perspective. The inflation head-fake In part one, we looked at inflation today not being the same as inflation in the 1970s. We looked in particular at issues that caused
This is the third in a series of four posts on the contrarian view for inflation, this time dealing with the inventory supercycle. Part one: This dealt with inflation today not being the same as inflation in the 1970s. Part two: the China inflation problem: Commodity inflation is far more leveraged to Chinese stimulus than
This is the second in a series of four posts I’m publishing on the contrarian view for inflation. Part one: Inflation today is not the same as inflation in the 1970s. Part two: commodity inflation is far more leveraged to Chinese stimulus than developed market stimulus. And the signs are ominous. Part three: the inventory
