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3 Dec 2022 (AFR) – Why the ETF surge explains the woes at Perpetual, Magellan

(3 December 2022, AFR, p40, Chanticleer) Here’s some insight into recent performance of managed funds, with comment on ETFs. “Active equity fund managers employing highly paid stock pickers are facing tough times because they can’t match the surging inflows at exchange-traded funds. “There are two statistics that explain why leading active equity fund managers such … Continue reading

1 Dec 2022 (AFR) – Dixon Advisory clients to receive pittance under deed of arrangement

(1 December 2022, AFR, p21, Carrie LaFrenz and Jonathan Shapiro) – Here is a case study example of the possible outcomes when investing in various funds. “Dixon Advisory’s administrators have told the failed group’s creditors – all of whom are current and former clients in its ASX listed US property fund – to back a … Continue reading

30 Nov 2022 (AFR) – Five-year winning streak eludes all fund managers – S&P finds

(30 November, 2022, AFR, p30, Vesna PoljakMarkets editor) – “Fund managers cannot thump the market five years in a row, according to an analysis by S&P Dow Jones Indices, leading it to claim that outperformance by active managers is “relatively short-lived”, if not statistically impossible. “ Read more at

20 Oct 2022 (AFR) – ASX trading needs detailed probe

(20 October 2022, AFR, p48, Chanticleer) – The AFR posted an interesting article about the inner workings of the ASX securities exchange, and their processes, and the alternative. A very interesting read. Read more at

28 March 2020 (AFR) – ASX erases week’s gains, dropping 5.3pc

(28 March 2020, AFR, p30, Luke Housego, Reporter) ‘After four weeks of heavy falls, the sharemarket has ended its fifth week since the sell-off began marginally higher as government and central intervention contends a deepening economic and health crisis. The S&P/ASX 200 Index closed 25.8 points, or 0.5 per cent, higher over the five sessions … Continue reading

28 March 2020 (AFR) – Big Rally crumbles after $US2trn stimulus optimism fades

(28 March 2020, AFR, p24, Sarah Turner, Reporter) ‘Australia’s sharemarket ended a week of massive gains with a loss on Friday as the number of virus cases in the US surpassed those in China, and it became increasingly clear that the pandemic’s deadly toll will not be slowed by the monster US stimulus package. ‘Investors … Continue reading

15 Feb 2020 (AFR) – Coronavirus fallout rattles investors as China industry stops

(15 February 2020, AFR, p23, Simon Evans, Sue Mitchell, Liam Walsh, Jenny Wiggins, Yolanda Redrup and Nick Lenaghan) ‘Investors are rattled as the coronavirus outbreak keeps escalating. China represents 17 per cent of the global economy and a sudden partial freeze of its vast industrial base means testing times for Australia, one of its biggest … Continue reading

15 Feb 2020 (AFR) – Coronavirus death toll jumps again, shattering Chinese confidence

(15 February 2020, AFR, p12, Michael Smith, China Correspondent) ‘Shanghai | China reported another 121 deaths and more than 5000 new cases from the coronavirus outbreak on Friday as cities around the country tightened travel restrictions and ordered millions to stay at home, crushing confidence that the government has the health crisis under control. Japan … Continue reading

15 Feb 2020 (AFR) – Coronavirus: Cruise industry feels the pinch

(15 February 2020, AFR, p11, Fiona Carruthers, AFR Travel Editor) ‘As the $45 billion global cruise industry continues to feel the shocks of coronavirus (COVID-19), closer to home, luxury Sydney travel agency Mary Rossi Travel spent the past week rewriting newsletters and itineraries,  deftly tweaking their promoted destinations. “Australians are definitely still travelling – they’re … Continue reading

15 Feb 2020 (AFR) – Top universities warn of $1b coronavirus hit

(15 February 2020, AFR, p11, Phillip Coorey, Political Editor) ‘Top universities have warned the federal government the coronavirus travel ban would cost the economy more than $1 billion, and put at risk 7500 jobs, for each 10 per cent decline in Chinese students. The figures are contained in economic modelling commissioned by the Group of … Continue reading

15 Feb 2020 (AFR) – Billions at stake as coronavirus sparks commodity crisis

(15 February 2020, AFR, p10, Patrick Durkin, BOSS Deputy Editor) ‘Billions in LNG, coal and iron ore contracts with China are at risk of being re-negotiated in the wake of the coronavirus, lawyers warn as they face off over “force majeure” claims. The escalating legal drama comes as major companies including Rio Tinto, Blackmores, Cochlear … Continue reading

15 Feb 2020 (AFR) – Land sales boom in a recovering housing market

(15 February 2020, AFR, p3, Michael Bleby, Senior Reporter) ‘Land sales boomed in the September quarter as an unexpected pick-up in the residential housing market following the May federal election fuelled demand for lots for newly built homes, the latest industry figures show.’ Read more at (might need AFR login access)

15 Feb 2020 (AFR) – Retail: The numbers that could reward the RBA’s optimism

(15 February 2020, AFR, p1, Sarah Turner, Reporter) ‘Upbeat company profit results, better readings from consumers and another record sharemarket high are backing the Reserve Bank’s optimistic view on the economy in the face of the threat from coronavirus and bushfires. Investors are feeling optimistic after the first big week of the interim profit season … Continue reading

15 Feb 2020 (AFR) – ASX 2 points off a fresh record as investors reward earnings

(15 February 2020, AFR, p33, Sarah Turner, Reporter) ‘The ASX ended the week fractionally off a fresh record close, with strong earnings-related gains from IDP Education, Breville and Challenger helping investors to look past their fears about the speed of the spread of the coronavirus in China. The S&P/ASX 200 index rose 26.97 points, or … Continue reading

12 Feb 2020 (TheAge) – Second wave of the coronavirus crisis hits corporate Australia

(12 February 2020, The Age, Business. p23, Elizabeth Knight) ‘Tuesday’s profit downgrade by Cochlear represents the second-wave impact for Australian companies in response to the coronavirus crisis. There will doubtless be more before this episode turns the corner. The first wave, which became evident in January, hit Australian companies directly exposed to China in the … Continue reading

12 Feb 2020 (TheAge) – Coronavirus: Cochlear warns of $30 million coronavirus profit hit

(12 February 2020, The Age, Business, P23, By Patrick Hatch) ‘Hearing device manufacturer Cochlear is the latest major Australian company to be affected by the deadly coronavirus with the implant group taking a $30 million profit hit as surgeries are delayed across China.’ Read more at

12 Feb 2020 (AFR) – Home loans growing at fastest pace in three years

(12 February 2020, AFR, p39, Michael Bleby, Senior Reporter) ‘New home loans grew at their fastest pace in more than three years in December, as first home buyers roared back into the market and investors joined the rush. The 4.4 per cent increase in new mortgage commitments – excluding refinancing of existing loans – was … Continue reading

12 Feb 2020 (AFR) – Coronavirus: Settlement delays expected as travel ban bites

(12 February 2020, AFR, p36, Nila Sweeney, Reporter) ‘Selling agents are bracing for settlement delays on residential properties, with mainland Chinese buyers blocked from travelling into the country as part of the government’s response to the coronavirus threat. Melbourne-based selling agent Jamie Mi of Kay and Burton, who specialises in overseas Chinese buyers, said while … Continue reading

12 Feb 2020 (AFR) – Builders warn of coronavirus hit to key material supplies

(12 February 2020, AFR, p35, Michael Bleby, Senior Reporter) ‘Concerns about the supply of key building supplies such as curtain wall from China’s coronavirus-hit manufacturing industry are growing among builders in NSW, who warned clients of potential disruptions to their high-rise projects. News of the concerns about curtain wall – the plate glass windows and … Continue reading

12 Feb 2020 (AFR) – Coronavirus: CEOs warn virus hit will get worse

(12 February 2020, AFR, p3, John Kehoe, Senior Writer) ‘The economic toll is mounting from the coronavirus, after hearing implant maker Cochlear cut its profit outlook due to Chinese hospitals deferring surgeries and beef exporters joined the seafood industry in bracing for weaker Chinese demand. The Morrison government is poised to extend the initial two-week … Continue reading

12 Feb 2020 (The Age) – ASX reaches three-week high as risk appetite rises

[COMMENT: Isn’t it so interesting? The sorts of things that make newspaper headlines, and which in reality are not quite so. For the life of me I cannot see how the local market has made a three-week high. With reference to my chart, I can see a new intraday high for the last 2 weeks. … Continue reading

12 Feb 2020 (TheAge) – Disconnected: Why markets are booming while the world reels from the coronavirus outbreak

(12 February 2020, The Age, Business, p23, Stephen Bartholomeusz) ‘The US stockmarket hit yet another record overnight and other major markets, including the Australian exchange, are within sight of their own high points. The world must be in good shape, right? With the death toll from the coronavirus now surpassing that of the SARS epidemic … Continue reading

11 Feb 2020 (AFR,Bloomberg) – Virus Scare Empties Malls on World’s Priciest Shopping Strip

(11 February 2020, AFR, p35, Bloomberg, By Shawna Kwan) ‘In an almost deserted mall, the few shoppers hurry past wearing face masks. In the luxury stores, sales assistants, also in masks, outnumber customers — if they have any at all. To pass the time, staff chat with each other or play with their phones. This … Continue reading

11 Feb 2020 (AFR) – Construction supply chains at risk from coronavirus

(11 February 2020, AFR, p29, Michael Bleby, Senior Reporter) ‘The impact of coronavirus is spreading to global supply chains, with building contractors warning clients of potential delays on projects because factories have closed in China – the source of many building materials used in Australian projects – as a result of the respiratory disease. The … Continue reading

11 Feb 2020 (AFR) – Hot US jobs market is a headache for the Fed

(11 February 2020, AFR, p25, Robert Guy, Senior Writer) ‘President Trump’s tweeting trigger finger may be called into action as the US dollar trades at a three-month high, but the greenback’s renewed strength also presents a headache for the Federal Reserve as it struggles to steer inflation back to its 2 per cent goal. The … Continue reading

11 Feb 2020 (AFR) – Coronavirus: China’s factory prices break deflation spell, but virus risks grow

(11 February 2020, AFR, p9, Se Young Lee and Stella Qiu) ‘Beijing | China’s factory-gate prices snapped six months of year-on-year declines in January, although prolonged business closures from the coronavirus outbreak mean positive momentum is unlikely to persist. The virus has killed more than 900 in China and has also added to price pressures … Continue reading

11 Feb 2020 (AFR) – Coronavirus: Virus death toll above 900 as workers told to stay home

(11 February 2020, AFR, p9, Michael Smith, China Correspondent) ‘Hong Kong | The death toll from China’s coronavirus outbreak has risen to more than 900, as plans to restart the world’s second-largest economy on Monday faltered. Despite hopes of a return to work, hundreds of millions were forced to stay home due to strict government … Continue reading

11 Feb 2020 (TheAge) – Tech reliance drives earnings boost for ‘world class’ JB Hi-Fi

(11 February 2020, The Age, p24, By Dominic Powell) ‘JB Hi-Fi chief executive Richard Murray says increasing customer reliance on everyday electronics has enabled the ASX-listed company to emerge unscathed from the retail downturn after surprising investors with a bumper half-year earnings result.’ Read more at

11 Feb 2020 (TheAge) – Chilling effect of the coronavirus is turning up in the shipping news

(11 February 2020, The Age, Business, p24, Stephen Bartholomeusz) ‘If you want to track the damage being done to global economic activity and growth by the coronavirus, just keep an eye on commodity prices and declarations of force majeure by Chinese companies. Both are showing increasing signs of the stress. With one of China’s major … Continue reading

10 Feb 2020 (AFR) – Strong US jobs number overshadowed by coronavirus fears

(10 February 2020, AFR, p20, William McInnes, Reporter) ‘Markets in the US shrugged off a stellar jobs number on Friday, amid continuing concerns about the global economic cost of the coronavirus outbreak.  On Friday, the S&P 500 Index fell 18.1 points, or 0.5 per cent, to 3327.71 while the yield on the US 10-year Treasury … Continue reading