Archive | Shares

CAPE ratios source Barclays sml

The CAPE hanging over share markets

The widely-used cyclically adjusted price-to-earnings ratio (CAPE) is at historic and relative highs in the US. The co-inventor of CAPE, Robert Shiller, is advising not to give too much weight to US equities.

company floats

IPOs, information asymmetry and house prices

When it comes to company floats or IPOs, sellers know much more about the business than buyers, so before getting caught up in the euphoria of a new listing, consider what it is they know that you don’t.

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Stock market winners 10 years on

The intuition is that stock markets should perform in line with an economy’s GDP, but a look at the last decade shows little relationship, and perhaps the opposite is more accurate.

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Value beyond the hype in US infrastructure

After many years of disappointment, there is a renewed focus on the US’s need to invest heavily in infrastructure. With investors looking for consistent revenue streams, it’s a welcome addition to the asset class.

Australian banks

Australian banks: reporting season wrap

The Australian banks are on firm ground with strong capital ratios, few bad loan problems and sustainable dividends, but lower demand for credit, tighter margins and the bank levy give no room for complacency.

NAB announcement

What NAB’s announcement really means

NAB’s latest announcement shows we are at a critical turning point with technology replacing jobs, and Australia lacks the political will to drive innovation and avoid declining living standards.

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