MB fund

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MB Fund December Portfolio Performance

Good news: Stock selection continues to support performance with our international portfolio outperforming a falling world market. Bad news: Statistically, December was the worst month so far for our Tactical Portfolios. Perspective: A 3-day fall in global shares (priced in AUD) between Christmas and New Year was the only reason for the negative performance, and

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Bracing for a near term melt-up

I wanted to follow up on Jeremy Grantham’s comments from yesterday and run through some of GMO’s asset allocation views from the perspective of an Australian investor. Jeremy Grantham & Co. at GMO have put out two thoughtful (as always) pieces in the last 3 weeks. I rate the team there highly and so when

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MB Fund November performance (part 2)

One of our core investment themes is that international stocks are the best asset class for Australian investors at this point in the cycle. To date, this has been the right call, with our international portfolio increasing over 13% over the last 4 months on the back of a weak Australian dollar, favourable stock selection

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MB Fund November portfolio performance – Part 1

One of our core investment themes is that international stocks are the best asset class for Australian investors at this point in the cycle. To date, this has been the right call, with our international portfolio increasing over 13% over the last 4 months on the back of a weak Australian dollar, favourable stock selection

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The Australian SMSF landscape

We recently ran a webinar entitled the SMSF Asset Allocation Master Class in which, as an introduction, I thought I might provide a snapshot of the Australian SMSF landscape. The following graphs have been created from an ATO dataset who publish SMSF statistics quarterly, the most recent being Jun 2017 which was released a couple

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MB Fund webinar: The boom and bust of China LIVE NOW!

Live at 12.30PM is the MB Fund webinar on China Boom and Bust. China’s own central bank recently described it as arriving at a “Minsky moment”, when credit excesses  overrun productive growth leading to financial crisis. Join David Llewellyn Smith, Damien Klassen and Tim Fuller to discuss the boom and bust of China, as well as

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MB Fund webinar: The boom and bust of China

Tomorrow (November 28th) continues our series of big topic webinars with a look at where China’s economy is headed, focusing on 2018. China’s own central bank recently described it as arriving at a “Minsky moment”, when credit excesses  overrun productive growth leading to financial crisis. Join David Llewellyn Smith, Damien Klassen and Tim Fuller to discuss

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MB Fund Q&A podcast: Markets, houses, hot stocks and the universe

Enjoy. Here’s the recent fund performance: Source: Linear, Factset The returns above include fees and trading costs on a $500,000 portfolio. Note that individual client performance will vary based on the amount invested, ethical overlays and the date of purchase. The benchmark returns do not include fees. October monthly returns are currently at 4.9% for

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How to position your money for the coming Labor government

That’s the question the AFR asked on the weekend, sensibly enough, given it is a near certainty: The newest of Shorten’s policies is a 30 per cent minimum tax rate on distributions to the adult beneficiaries of discretionary or family trusts. With farms exempt, the change will affect 2 per cent of taxpayers and 318,000

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The pros and cons of ethical investing

Ethical investing is frankly confusing. There are plenty of good products, but also a number of products whose promoters may not be as ethical as the stocks they invest in… For me, there are three key issues: What is the effect on investment performance How are the stocks chosen What are the fees Read on

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MB Fund webinar: markets, houses, hot stocks & the universe

Following the release of MB Fund October performance: we’ll be doing a live webinar on Tuesday November 14th at 12.30AEST in the afternoon. (It has been moved  from Thursday due to illness unfortunately) It is intended as a wide ranging macro and investment discussion covering everything from global stocks to local houses. David, Leith, Damien

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Mega-trends on the MB Fund radar

That’s a wrap on our latest Nucleus Wealth webinar entitled ‘Long Term Trends’ where Damien and I ran through some key world trends that a focus for how stocks are positioned in the MacroBusiness fund. We shot this live with Q and A at the end. Invites for the live stream and Q and A went

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MB Fund October portfolio performance

One of our core investment themes is that international stocks are the best asset class for Australian investors at this point in the cycle. To date, this has been the right call, with our international portfolio increasing almost 10% over the last 3 months on the back of a weak Australian dollar, favourable stock selection

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MB Fund rock-n-roll thunder tour (the movie)

For those who couldn’t make it in person to the MB fund rock-n-roll thunder tour events around the country, we recorded the Melbourne concert. The first video is me explaining the history of MB, it’s purpose and the evolution of the MB Fund. The second video is Leith explaining his history with MB. The third

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MB Fund September portfolio performance

During September the mix of the falling Australian dollar and increasing international equities saw all of our portfolios again outperform their benchmarks except the income portfolio. The international portfolio was the standout, up 4% for the month. Our overweight to international equities in our Asset Allocation portfolios helped to offset weakness in Australian equities and

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MB Fund Perth event tomorrow

The MB Fund rock-n-roll thunder tour rolls into Perth this week. Other city legs left screaming teens prostrate on the tarmac… OK, not really, but they were very well received with lively discussion on the prospects for China, iron ore, house prices, the Australian dollar, interest rates, bitcoin, the economy, shares, population and the political economy. It was terrific

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MB Fund August performance

Apologies for the lateness of this report, we are still getting reporting systems ironed out with our portfolio provider – you will be hearing from us much earlier for the next monthly report. While some of the key trends that we are positioning the portfolio for moved against us last month (bonds and the Australian

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Global funds flee “structurally impeded” ASX

Via Domainfax: An analysis of 586 large long-only funds managing $1.4 trillion shows money managers are decidedly underweight Australian shares, making the ASX the most underweighted index in the region for the third month in a row, according to Bank of America Merrill Lynch. The disproportionate composition of the ASX200 – comprising largely banks and

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MB Fund rock-n-roll thunder tour in Canberra, Melbourne this week

The MB Fund rock-n-roll thunder tour rolls into Canberra and Melbourne this week. The Brisbane, Adelaide and Sydney legs left screaming teens prostrate on the tarmac… OK, not really, but they were very well received with lively discussion on the prospects for house prices, the Australian dollar, interest rates, bitcoin, the economy, shares, population and the political economy.

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MB Fund rock-n-roll thunder tour hits Sydney tonight!

The MB Fund rock-n-roll thunder tour rolls into Sydney tonight.  The Brisbane and Adelaide legs left screaming teens prostrate on the tarmac… OK, not really, but they were very well received with lively discussion on the prospects for house prices, the Australian dollar, interest rates, bitcoin, the economy, shares, population and the political economy. It was terrific

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MB Fund does Brisvegas

Apologies for light posting this morning. I’m fresh off the plane from Brisvegas where the MB Fund rock-n-roll thunder tour performed last night. Thanks everyone for coming. It was great to meet you and another round of terrific discussion. Next it is on to Sydney where we plan to tear the financial market towers from

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MB Fund seminar in Adelaide tomorrow night!

A reminder that if you’re in Adelaide tomorrow night your social standing is at risk if you miss the hottest event since The Beatles visited in 1964. Presentations will include: LVO dishing dirt on the disaster that is mainstream economics; DLS dishing dirt on the disaster that is market economics; DK on how to make a

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Asset allocation vs stock selection in portfolio returns

There was another entry into the academic statistical war that makes up the debate between whether asset allocation or stock selection is more important from ReSolve Asset Management recently. The full paper is technical, full of principle component analysis and the discussion of the appropriate correlations to use between markets (if that sort of thing appeals

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Announcing the MB Fund seminar series

The chances are that you read Macrobusiness for no-nonsense, unbiased insight into the most pertinent issues in today’s macroeconomic climate. So do over 120,000 other people around the world per month. Now you have a chance to meet the team in person, talk investments, hear first hand about how the popular blog was founded, how

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International shares are less volatile than Australian

Investing can be a volatile ride, the last few days have reminded us. The last few days have also reminded us why holding international equities is often beneficial for Australian investors – the Australian dollar acts as a shock absorber on returns when volatility hits, which is exactly the opposite effect that international investors get investing