Focal point

Our take on the latest investment themes

View [Budget surplus to drive consumption] Abstact2

Budget surplus to drive consumption

by Reece Birtles

Wage growth and tax cuts are a significant driver of household expenditure, and bracket creep provides a good basis to fund tax relief and repair consumption.

29 March 2019
View [Reporting Season: What we've learned so far] ReportingSeasonAbstract1

Reporting Season: What we've learned so far

by Reece Birtles

We are almost through Australia’s semi-annual reporting season. Profit results are being clouded by negative sentiment on politics, financial conditions and house prices. But politics is also creating an interesting dynamic for dividends and capital management.

4 March 2019
View [Searching for USA's "R star"] Unobservable neutral real rate of interest

Searching for USA's "R star"

by Reece Birtles

‘R-star’ is the biggest issue for financial markets right now, more important than trade wars and diverging major economy growth.

3 December 2018
View [Desperately seeking: Board accountability and active voices] At the AGM

Desperately seeking: Board accountability and active voices

by Patrick Potts, Reece Birtles

It is clear from this remarkable AGM season that investors are looking for more accountability. But it needs to start at the top, and be held to account by active voices.

1 November 2018
View [Four key drivers for Australian markets and one cautions] 4 key drivers

Four key drivers for Australian markets and one cautions

by Reece Birtles

We devote most of our resources to identifying insights that can generate long-term returns and minimise risk. But in the short-term, returns and risk can be driven by very different forces.

31 October 2018