The attached note provides a review of 2018 and what it meant for investors and takes a look at the outlook for 2019. The key points are as follows: 2018 saw reasonable global economic and profit growth and still low interest rates but it has been a rough year for investors with worries about the…
The attached note looks at the pullback in share markets seen over the last week or so. The key points are as follows: The current pullback in shares has been triggered by a range of things – but most notably worries about rising US interest rates and the US/China conflict. Shares may still have more…
The attached note looks at nine keys to successful investing: Investing during times of uncertainty can be nerve wracking, but even in good times it can be problematic. For this reason, it’s useful for investors to keep a key set of things – call them rules – in mind. The key rules I think are…
The attached note looks at the outlook for the US economy, particularly the risk of recession given the flattening US yield curve. The key points are as follows: If you are worried about a major bear market, the US economy is the key to watch. While traditional measures of the US yield curve have flattened…
The key points are as follows: 2017-18 saw strong returns for diversified investors, but it was a story of two halves with strong December half returns but more volatility in the past 6 months. Key lessons for investors from the last financial year include: turn down the noise around financial markets, maintain a well-diversified portfolio;…
The key points are as follows: The RBA should avoid calls to raise interest rates prematurely just to prepare households for higher global rates. Such a move would be Iike shooting yourself in the foot in order to practice going to the hospital. Nor should the RBA mess with the inflation target that has served…
