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A historic time to sell

A historic time to sell

With stocks near all-time-highs, there is steadily accumulating evidence that this may be a historic time to sell. PMIs are diving. PMIs give false signals (eg 2016 was a buy, not a sell) but this is the worst they have looked in a long time. All through the turmoil...

May 2018: Brazil and Two New Themes

May 2018: Brazil and Two New Themes

May Performance The fund advanced 1.0% net of fees and costs. The ASX 200 added 2.8% and the S&P500 advanced 2.0%. State of the Market Brazil detracted 1.3%, and the sell-off continued in June. Truck drivers went on strike across the nation for ten days, causing...

April 2018: New Fund and Biotech

April 2018: New Fund and Biotech

Dear investors, New fund update We’d like to announce that we’re launching a new fund. This will run the same strategy as our existing fund, but be domiciled in Australia, denominated in Australian dollars, and be otherwise optimised for Australian investors. The fund...

October 2017: Aussie smallcaps and Afterpay

October 2017: Aussie smallcaps and Afterpay

The Fund returned +1.4% in October. The S&P500 returned 2.3% and the ASX200 returned 4.0%. We have a new fund presentation available here. Portfolio Australian small caps are in a ripping bull market. There are 85 ASX-listed companies on market capitalisations...