Quarterly Commentaries

The investment team spend a lot of their time thinking about individual stocks, markets and all sorts of other related (or often unrelated) topics. These get filtered through the quarter with the (hopefully) more interesting ones making it into our quarterly commentaries. These can be found below - we hope you find them interesting reading.

  • January 2016

    We start by reviewing the previous quarter, then look in to our crystal ball for 2016 and beyond.  We then discuss the prospects for oil, and review Slater and Gordon, a topical company on the Australian Stock Market.   Disclaimer: The following commentaries represent only the...
  • October 2015

    We start by discussing a rather volatile quarter.  In “Uber-Barbell” we comment on insights derived from a recent trip to Perth.  In “Equity market cross road” we discuss our views on potential paths for equity and other asset prices.   Disclaimer: The following commentaries...
  • July 2015

    This quarter we kick off with a look at high multiple stocks, followed by a look at how electricity may play an even more important role in the future. We then answer a highly relevant investor question, talk some more on how Japan could solve its debt issue and finish with a couple of short...
  • April 2015

    We start with a review of the Ranger Portfolio, recent transactions, and the current outlook. We then provide some analysis of the first day returns of New Zealand and Australian IPOs, and a review of the Corporate Governance practices that we look for as long term investors. We conclude by...
  • January 2015

    In “A Case Study in Pain” we discuss Swick Mining Services, which has been a recent detractor of performance.  We then provide some light hearted crystal ball gazing in “Could we be about to see the end of public transport as we know it?” and “A few more left field themes”.  We present...
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