Size Kills in Funds Management
20 Apr 2018
On an average day Commonwealth Bank (CBA) shares worth $250m change hands. A $10bn fund manager can buy a 1%...
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Latest media
Unloved UK Auto Sector
17 Apr 2018
Steve and I recently spent a few weeks visiting portfolio companies and potential investments in Europe. The UK...
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Facebook Killing its Competitive Advantage
13 Apr 2018
“Well, the first thing we have to do, I suppose, is listen,” Paine said when asked how his team might reconnect with...
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Buying Stocks that Could Go Bust
06 Apr 2018
Many investors wouldn’t have touched Whitehaven Coal with a hazmat suit on. It was January 2016 and thermal coal had...
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Beware the Overseas Expansion
15 Mar 2018
Aussie companies have a mixed record when venturing overseas. But in early 2016 Wesfarmers had a great history of...
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Dividend Imputation Should Change
12 Mar 2018
This will be short and likely controversial. There’s a lot of vitriol about dividend imputation these days. Much...
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A Big Lesson from the Big Un Debacle
06 Mar 2018
Some of the red flags at Big Un were obvious. Perhaps the biggest was the change in auditor, from PKF to the...
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Making the Most of Mistakes
26 Feb 2018
For those who fear flying, facts and statistics are likely of little help. But flying has become a lot safer over...
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How to Navigate a Bull Market
21 Feb 2018
Bear markets get a lot of attention. The market meltdowns of 2008/9, 2000 and 1987 are the subjects of many hundreds...
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Google’s Cash Road to Nowhere
14 Feb 2018
Let me be the millionth investor to express frustration at Alphabet Inc’s approach to capital allocation. When...
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Fragmenting Social Media and Facebook’s Withering Popularity
13 Feb 2018
Fair enough. I haven’t used it for years. And I don’t like it. Which means I’m predisposed to seeing signs of...
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Why Even Small Panics Matter
07 Feb 2018
Sitting in a pub with property man Pete Wargent a few months ago, we were discussing the property market of...
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