Episode 16: More results — Wisetech, BWX, Kip McGrath & more, plus is Australia headed for recession?

A business is best thought of as a machine; one that takes various inputs (capital, commodities, people) and converts them into outputs (products/services). If you are interested in a company’s potential for growth, it helps to understand exactly how those inputs are converted to outputs. Furthermore, you need a sense of how demand for those outputs will change over time, […]

Is it time to take profits?

On paper, the modern Australian economic story is a masterclass in resilience. Judged by our preferred metrics, we have fully earned our moniker as the Lucky Country, routinely dodging the worst global financial storms of recent decades. There’s a lot to be thankful for. And there are few other places most of us would choose to live. But that doesn’t […]

I’ve had a tough time of late with my home broadband provider, Optus. The details are too painful (and boring) to recount, but let’s just say that after 10 days without internet, I’ve learned the true meaning of “on hold.” Rather than scream into the void, I decided to channel my rage productively: digging into Optus’s financials. If it sucks […]

A new partnership and increasing revenue have underpinned a further jump in LiveTiles shares

We all like to attribute our winners to our foresight and cunning. The losers? Well, they were the result of bad luck. The truth, of course, is that random chance — both good and bad — plays a scarily big part in shaping our investment outcomes. That’s not to say it’s all just a roll of the proverbial dice, but it pays […]

‘Blue-chip’ is a term often applied to the more established, higher-quality businesses; a name that originates from the poker table where the highest value chips were traditionally blue in colour. These stalwarts are typically considered lower risk and are the stocks sensible investors supposedly focus on. Perhaps. But for many of these so-called blue-chips the shareholder experience has been woeful. Consider these examples from the ASX20, […]

At a recent value investing conference, money manager Mohnish Pabrai, a self-described “shameless cloner” of Buffett and Munger, sat down for a fireside chat. In it, he shared wisdom that, while far from original, bears repeating. Indeed, the fact that Pabrai’s wisdom is essentially repackaged lessons from Berkshire’s dynamic duo is precisely one of his key messages. In investing, while […]