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6 February 2025
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Small caps are the most passively managed among all equity size categories, yet we believe they offer a highly contoured and target-rich landscape for active stock selection.
As the landscape of private equity investing continues to evolve, evergreen funds have emerged as an alternative to traditional funds utilising capital calls and distributions.
Despite a rising tide of negative media coverage, we believe that private debt still has tremendous potential to deliver attractive risk-adjusted returns for investors.
This paper discusses the remarkable rise of private credit; the factors that, in our view, will shape its evolution; and its potential to continue delivering attractive risk-adjusted returns for selective investors.
Higher for Longer, Longer the Stronger. “Savings depletion and weakness among small-cap and regional bank stocks suggest that the U.S. economy may not be as strong as it seems.”
Slowing growth could still be enough to avoid a hard landing, but in a higher-for-longer rate environment yields may provide the bulk of near-term total returns.
While encouraging people to draw down on their accumulated wealth in retirement might be good public policy, several million retirees disagree because they are purposefully conserving that capital. It’s time for a different approach.
After a stellar run for banks, investors are wondering whether they can continue their outperformance or if a rotation into miners is imminent. There’s a good case that a switch is coming, and it may last decades, not just years.
DeepSeek has surprised investors, but it shouldn't: it's part of a normal capital cycle. Big tech companies have made a lot of money, which attracts capital and competition, and eventually hurts returns and incumbent share prices.
If Australia is to control its own destiny in an AI-enabled future, it must build its own infrastructure, not rent it from overseas. Creating homemade AI is the first critical step in the long process of building Australia's AI economy.
The TV streaming business has become increasingly competitive, yet Netflix has managed to grow market share and become the dominant player. Here's how it's done that, and the opportunities it has moving forwards.
Markets are not driven by numbers alone. Examples from Tesla shares to Sydney houses show that investors must evaluate not just tangible assets or financials, but also the intangible story that magnifies their value.
A big market sell-off can force pensioners to 'sell cheap' in order to meet their miniumum withdrawal requirements. Investing in less volatile assets that also deliver regular income could provide an alternative.