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30 March 2025
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Just because a stock is cheap doesn't necessarily make it good value. This uses case studies in the tech sector to help identify when stocks trading on 30x earnings may be inexpensive and when others on 10x may be value traps.
Many assets have enjoyed a positive year, leaving some of them looking pricey. Here we compare valuations of cash, bonds, stocks, and property, and suggest where investors may be able to find opportunities.
For decades, cyclically adjusted P/E ratios have been a common and widely accepted gauge of market valuation. But as the financial landscape continues to evolve, so too must our tools for understanding it.
Investments in intangible assets are as crucial to many companies as investments in capital equipment. The different accounting treatment of these investments, however, weighs on reported earnings and could render ratios like P/E less useful for investors.
ASX market bulls point to corporate balance sheets and earnings, while bears highlight company valuations and persistently higher inflation. It's best to ignore short-term noise and focus on investing in quality companies.
For one Commonwealth Bank worth ~$200 billion, you can buy three of Europe's leading banks with much larger addressable markets. This is just one example of the extreme valuation divergences across global stock markets.
ASX blue-chip ResMed has been hammered due to concerns that new obesity drugs will reduce demand for its product. What are these drugs, how effective are they and what impact could they have on the sleep apnoea market?
Human beings are storytelling animals yet it’s the job of investors to separate truth from fiction. And the truth lies in numbers, the company earnings and the multiples attached to those earnings.
Stock prices are like email: distraction machines. With email, it distracts people from getting work done efficiently, while with stock prices, they distract investors from what really matters: the businesses underlying them.
Investment in the energy sector has dropped significantly but demand continues to rise. Higher prices normally trigger more spending and increased supply. If this is not the case, it creates investment opportunities.
A check on price chart action for dozens of favourite tech stocks shows how dramatic the rises and falls have been. Where to from here? There's better value but profits need to remain strong or prices will fall.
It is a tough time to be investing in growth stocks but there may be ways investors can take advantage of lower prices and be well positioned when the market and interest rates return to normality.
This time last year, I highlighted 16 ASX stocks that investors could own indefinitely. One year on, I look at whether there should be any changes to the list of stocks as well as which companies are worth buying now.
The CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.
The ABS recently released figures which are used to determine key superannuation rates and thresholds that will apply from 1 July 2025. This outlines the rates and thresholds that are changing and those that aren’t.
With the arrival of the new year, the first members of ‘Generation X’ turned 60, marking the start of the MTV generation’s collective journey towards retirement. Are Gen Xers and our retirement system ready for the transition?
The intergenerational wealth transfer, largely driven by a housing boom, exacerbates economic inequality, stifles productivity, and impedes social mobility. Solutions lie in addressing the housing problem, not taxing wealth.
Warren Buffett's annual shareholder letter has been fixture for avid investors for decades. In his latest letter, Buffett is reticent on many key topics, but his actions rather than words are sending clear signals to investors.