Sid Ruttala continues his journey through the ASX20. This week his notes visit and review CSL Ltd. (CSL.ASX) and Wesfarmers Ltd (WES.ASX). If you have missed some of the earlier parts to Sid Ruttala's latest Talking Top Twenty, you can find them here: Part 1: The...
Global Equities
Playing the Inflation Game: Where Have We Allocated
In a previous article, we gave a rationalisation for why, despite seemingly irrational valuations, we remain overweight equities here at TAMIM. This week we continue to explore this but with a caveat, that is the potential for inflation and the reasons why it might...
When 1 + 1 Makes 3?
Robert Swift takes a look at the shift in language coming from central bankers and finance ministers and, more importantly, the implications for equities and bonds. Confirmation bias is a common problem for portfolio managers. You have a thesis and then look only for...
O Bubble, Bubble, Wherefore Art Thou Bubble?
This week we would like to revisit the topic of asset prices. More specifically, in reference to the latest RBA meetings and the IMF World Economic Outlook. A topic that is particularly important to us in perhaps elucidating whether we are in the beginning of...
Fear and Greed in the Time of Covid
By now most of the readership, we assume, has heard about the Archegos Capital fiasco. A situation that, last Friday, shook global equity markets. A series of events wiping out close to 50% of the market capitalisation of Discovery, more than 50% of Viacom, 20% off...
From ZIRP to SPLURGE | Going Boldly Where No One Has Gone Before (In Living Memory)?
We wrote about the need for a U-turn in macro policy thinking recently. It looks like we are getting one; or just as important for market psychology, other investors think we are getting one - a shift that is. Read on to learn what investors should consider in this...
3 Secular Growth Thematics for the 20s & Beyond
Every generation sees certain trends that go beyond the cyclical. Trends that encapsulate a fundamental change to the way things are done. When we say secular growth, we are referring to structural changes taking place in the economy; from e-commerce fundamentally...
Australia All Cap | February Monthly Report Excerpt & Portfolio Highlights
This week we thought it would be valuable to highlight Ron Shamgar's recent monthly report. Ron has delivered a stellar return for our investors over the last couple of years, managing the portfolio through the covid crisis with aplomb. During the month of February...
Questions and Lessons From The Greensill Saga
This week we would like to take a look at Greensill Capital and its spectacular fall from grace. Its fall, preceded by another yet bigger collapse in the form of German payment processor Wirecard, has raised many questions around the ability of regulators to keep up...
February Wrap: An Interesting Juncture in Capital Markets
Robert Swift takes a look at what happened in February in markets and touches on some of the adjustments made within his portfolio. This is an excerpt from Robert's Global High Conviction report for February 2021. We are at a very interesting juncture in capital...
2 Things To Keep an Eye On and Their Implications for Investors
Last week Sid Ruttala provided us with a list of things not to worry about, this week he goes the other way and takes a look at a couple of things to keep a eye on given the current market environment. Last week we briefly spoke about central bank policy and the...
Investors: Inflation, Rising Rates and Other Things Not to Worry About
Here we are, February of 2021 and it has been an interesting start to the year. For those of you that have read previous articles, you know I have been one of those outliers that has been predicting inflation and the tremendous risks posed by the bond market for a...