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30 June 2016 (AFR) – Defensive and growth stock all-in-one as Burson triples in two years

[COMMENT: Here is one good IPO story…] (20 June 2016, AFR, p20, by Simon Evans) ‘Companies with both defensive and growth characteristics are increasingly sought after by investors, with Australia’s largest car parts distributor Burson Group a prime example of the riches on offer for those who got it right and invested early. Burson hit … Continue reading

30 June 2016 (AFR) – Bunnings sale sets new auction benchmark

(30 June 2016, AFR, p36, by Larry Schlesinger) ‘The sale of a Bunnings warehouse in Perth and Dan Murphy’s in Melbourne on sub-5 per cent yields were the standout results from a Burgess Rawson portfolio auction on Wednesday, which raked in $30 million in sales. Eight out of 13 properties sold under the hammer or prior to auction … Continue reading

30 June 2016 (AFR) – Australian commercial property sales slow to $9.2b in first half

(30 June 0216, AFR, p31, by Matthew Cranston) ‘Buyers searching for deals in Australia’s commercial property market may face further competition as a dwindling level of stock had the value of office buildings, shopping centres and industrial sheds sold in the first half decrease to $9.2 billion from $12.8 billion in the previous first half. With national investment volumes … Continue reading

30 June 2016 (AFR) – Volatility’s back – but that may not be bad for online traders

(30 June 2016, AFR, p15, by Alexandra Cain) ‘While some normalcy returned to sharemarkets in recent months, that’s now out the window and traders expect volatility to become much more pronounced as investors digest events in the UK and Europe. Volatility isn’t bad news, however. As long as you’re on the right side of the … Continue reading

30 June 2016 (AFR) – Loss makers: Where homes and apartments lose money for property owners

(30 June 2016, AFR, p3, by Robert Harley) ‘The housing boom has delivered massive upside to some sellers but left others, those selling inner city apartments in Melbourne, or regional homes, or properties in Perth, with losses.’ <snipped…> ‘But there were losers. In inner city-Melbourne, 19 per cent of all apartment sales were below the previous … Continue reading

29 June 2016 (TheAge, MONEY) – Three types of managed fund to avoid

(29 June 2016, The Age, MONEY supplement, p6, Graham Witcomb) ‘Businessman and investor Mark Cuban – net worth US$3.2b – once said, “The No. 1 job of the hedge fund manager is not to make sure that you can retire with a smile on your face – it’s for him to retire with a smile on … Continue reading

28 June 2016 (AFR) – Brexit: Scottish First Minister, Northern Ireland, threaten to veto Brexit, and block EU exit

(28 June 2016, AFR, p11, by Simon Johnson and Auslan Cramb) ‘Scottish First Minister Nicola Sturgeon said the Scottish Parliament will try to block the UK leaving the European Union using an obscure legal mechanism, even if it infuriates the English. She said Brexit requires a legislative consent motion from the Scottish Parliament because it impacts directly … Continue reading

28 June 2016 (AFR) – Goldman Sachs economists tip mild UK recession

(28 June 2016, AFR, p11, AAP) ‘Britain is likely to enter a recession within the year as a result of last week’s vote to leave the European Union, a decision that will stunt global economic growth as well, Goldman Sachs’ top economists say. “We now expect the (British) economy to enter a mild recession by … Continue reading

28 June 2016 (AFR) – Former financial planner takes Westpac to court for bad advice

[COMMENT: Investing in financial products can be a mine field. It pays to study the detail and the fine print. It certainly pays to understand the product in which you might invest.] (28 June 2016, AFR, p3, by Misa Han) ‘A former Westpac financial planner is suing the bank, saying he has lost more than $800,000 and is at the risk of losing family … Continue reading

25 June 2016 (AFR) – Oliver Curtis jailed for insider trading; after nine years of denial

[COMMENT: A word of warning for any would-be insider traders.] (25 June 2016, AFR, p3, by Misa Han) ‘Oliver Curtis, the son of prominent businessman Nick Curtis, will be spending at least one year in Silverwater Prison after he was sentenced to jail for insider trading. On Friday, Curtis showed little emotion as Justice Lucy McCallum of the NSW Supreme … Continue reading

25 June 2016 (AFR) – Brexit: EU exit sends out shockwaves; Vote sinks global markets as traders wrongly call historic event

(25 June 2016, AFR, p35, by Vesna Poljak) ‘Global financial markets experienced their worst day since the global financial crisis as Britain voted to leave the European Union, sending the British pound to the lowest level since 1985 and threatening a global recession. Every Group of 10 currency fell against the yen, led by the pound … Continue reading

25 June 2016 (AFR,FTimes) – Brexit: Now for the world’s most expensive divorce proceedings; Separation could take 10 years

(25 June 2016, AFR, p13, by Alex Barker) ‘There are rough guidelines on how to proceed with the world’s most complex divorce, but the negotiation will be largely improvised. Estimates of how long it will take range from two years to a decade or more. For officials involved, it is a legal and political no … Continue reading

25 June 2016 (AFR) – Brexit: Reactions show global concerns; Five terrifying immediate reactions from markets

(25 June 2016, AFR, p12, by Zachary A. Goldfarb) ‘The United Kingdom voted Thursday to leave the European Union, a historic turn of events that underscored the fraying of the European political and economic union. It will take days, months and perhaps years to fully grapple with the consequences, but the earliest reactions from markets … Continue reading

25 June 2016 (AFR,WashintongPost) – Brexit: Euro superstate on hold – In historic decision, British vote inflicts further damage on E.U.

(25 June 2016, AFR, p11, By Michael Birnbaum, Washington Post) ‘BRUSSELS — With Britain forecast Friday to have taken a historic decision to leave the European Union, E.U. leaders say their ambitions to build a more united continent will be on hold after the bitter campaign exposed deeper troubles within the 28-nation alliance. Leaders say … Continue reading

25 June 2016 (AFR) – Brexit: A shock big enough to derail global economy, says McKibbin

(25 June 2016, AFR, p4, by Jacob Greber) ‘Australia’s economy faces a major test of its resilience against a fresh wave of global market fear unleashed by the Brexit vote, say prominent economists including a former Reserve Bank of Australia board member. While the nation is unlikely to suffer directly from Britain’s decision because it has become … Continue reading

24 June 2016 (NYTimes) – Britain has voted to exit the E.U. It is a historic decision sure to reshape the nation’s place in the world

(24 June 2016, The New York Times online) ‘Britain has voted to leave the European Union, a historic decision sure to reshape the nation’s place in the world, rattle the Continent and rock political establishments throughout the West. With 309 of 382 of the country’s cities and towns reporting early on Friday, the Leave campaign … Continue reading

24 June 2016 (NYTimes) – Britain has voted to exit the E.U. It is a historic decision sure to reshape the nation’s place in the world

(24 June 2016, The New York Times online) ‘Britain has voted to leave the European Union, a historic decision sure to reshape the nation’s place in the world, rattle the Continent and rock political establishments throughout the West. With 309 of 382 of the country’s cities and towns reporting early on Friday, the Leave campaign … Continue reading

24 June 2016 (TheAge) – Macquarie to face penalties over van Eyk fund

(24 June 2016, The Age, BusinessDay, p22, Clancy Yeates, Banking reporter, View more articles from Clancy Yeates) ‘Macquarie Investment Management concedes it did not do enough as responsible entity to assess the risks in a fund run by van Eyk, which collapsed in 2014 after investing $30 million in a Cayman Islands fund. The Australian Securities and Investments … Continue reading

23 June 2016 (AFR) – New apartments approved but developers hold out for next property cycle

(23 June 2016, AFR, p31, by Matthew Cranston, Larry Schlesinger) ‘The construction of about $1 billion worth of recently approved apartment developments will be postponed, with owners either waiting for the next cycle or looking to sell out because of concerns about oversupply, financing, construction costs and government regulation.’ Read more at AFR.com (might need … Continue reading

23 June 2016 (AFR) – With Yellen’s latest testimony, are we (USA) stuck in the slow lane forever?

(23 June 2016, AFR, p29, by Karen Maley) ‘Janet Yellen’s disappointment was almost palpable.  In her testimony before US Congress overnight, the chair of the US Federal Reserve was decidedly less optimistic about the outlook for the US economy, and the prospect for higher US interest rates, than she was only a month ago. Back then, … Continue reading

23 June 2016 (AFR) – Forget stocks it’s bonds that are expensive

(23 June 2016, AFR, p28, by Philip Baker) ‘It’s not surprising that Janet Yellen keeps talking about how expensive US stocks are – she’s made them that way. ‘ <snipped…> ‘Investors might get lucky this time, but the record low yields in the bond market do suggest there’s some sort of economic meltdown round the corner.’ Read more at … Continue reading

22 June 2016 (AFR) – Housing values fell in March quarter for first time since 2012 on apartments

(22 June 2016, AFR, p32, by Michael Bleby) ‘Home values fell in the March quarter for the first time in two and a half years as detached houses trod water and the prices of apartments and other denser dwellings fell.  The Australian Bureau of Statistics’ index of dwelling values across the eight capital cities fell … Continue reading

22 June 2016 (AFR) – Deja vu for investors as index returns to all-too-familiar territory – Investors keen for a steady return are seeing it happen all over again

(22 June 2016, AFR, p28, by Philip Baker) ‘For investors there’s nothing worse than losing money, paying tax and getting caught up on the wrong side of all the volatility. But there’s something else investors find annoying: deja vu, the feeling that the same thing is happening to them all over again. And again.  For investors in the major S&P … Continue reading

22 June 2016 (AFR) – M&A deals flag after huge 2015 but don’t write 2016 off yet

(22 June 2016, AFR, Deal Insights Special Report, p1, by James Dunn) ‘Last year was always going to be a hard act to follow for Australia’s mergers and acquisitions landscape: it was a record year for M&A globally and the strongest in Australia since 2011. But not surprisingly, after a swathe of major global stockmarkets found … Continue reading

22 June 2016 (TheAge) – HSBC: property price growth to halve in 2016

(22 June 2016, The Age, BusinessDay, p17, Jessica Sier, Reporter, View more articles from Jessica Sier) ‘House price growth in Sydney and Melbourne is set to halve in the coming months, says HSBC chief economist Paul Bloxham, the latest economist to have a stab at when the property market might come off the boil.’ Read … Continue reading

22 June 2016 (TheAge) – Successful investing is more than buying well; How to manage a share portfolio in six steps

[COMMENT: Many of the ideas mentioned in this news article do have merit, and are worthy of consideration.] (22 June 2016, The Age, MONEY supplement, p6, Marcus Padley, View more articles from Marcus Padley) ‘Everyone sets out to buy stocks that go up forever and are never sold. That’s nirvana. But it obviously doesn’t happen … Continue reading

21 June 2016 (AFR) – Canada killing the oil rally – Oil rally runs out of steam as Canadian wildfire threat fades

(21 June 2016, AFR, p31, by Mark Shenk) ‘Here comes Canadian oil to douse the hottest rally since 2009. Money managers reduced bets on rising oil prices by the most in 11 months as Canadian output continued to ramp up after Alberta’s wildfires. The recovery in oil prices remains “fragile” as disrupted supplies return to the … Continue reading

21 June 2016 (AFR) – Fitch says car loan delinquencies reach five-year high

(21 June 2016, AFR, p17, by Jonathan Shapiro) ‘Late payments on vehicle loans have reached their highest level since 2010, triggering concerns that stresses among overextended car owners are beginning to build.   The delinquency rate is measured by credit rating agency Fitch and is based on about $12 billion of Australian auto loans that have … Continue reading

21 June 2016 (TheAge) – Fund managers shift into cash, gold, bonds ahead of Brexit

(21 June 2016, The Age, BusinessDay, p21, Vanessa Desloires, Reporter, View more articles from Vanessa Desloires) ‘Global markets are heading into what promises to be a sweltering northern hemisphere summer and volatility-inducing events have the potential to eclipse last year’s heat which included the Greek debt crisis and China’s sharemarket meltdown. Local fund managers are bracing … Continue reading

21 June 2016 (TheAge) – Online brokers lure investors, flout rules: ASIC

(21 June 2016, The Age, BusinessDay, p18, Georgia Wilkins,. Business reporter, View more articles from Georgia Wilkins) ‘ Australian consumers are being lured into high-risk financial products by online brokers that are flouting the country’s financial licensing rules.  A report by the Australian Securities and Investments Commission revealed “serious and widespread” compliance failures in the over-the-counter derivatives industry, including foreign exchange trading. ‘ … Continue reading