An each way bet on property income securities
As 'bottom up' investors we tend to focus on the individual cash flows of a business. But pitching three property income securities against each other has resulted in an upgrade.
STW shines in tough times
This diversified advertising and marketing group has been back in favour with investors lately. Yet its potential continues to be underestimated.
19 Aug 09 - Reporting wrap
Today was another busy day, with many large companies reporting full year and half year results.
Perpetual performance impresses again
Despite another misstep, good fund performance numbers and a stronger sharemarket mean there’s light at the end of the tunnel for Perpetual.
ARB bumps the crisis
Tough times clearly highlight the difference between great companies and everything else.
18 Aug 09 - Reporting wrap
With nine larger companies reporting today, the reporting season has kicked up a gear.
14 Aug 09 - Reporting wrap
Fridays are apparently for long lunches, not frenzied assessments of company results. Only one large company reported today.
13 Aug 09 - Reporting wrap
Today saw profit announcements from heavy hitter Telstra, as well as Coca-Cola Amatil and Bunnings Warehouse Property Trust.
Evidence builds for Telstra thesis
As an investment, Telstra doesn't need to be complicated. And the full year results add evidence to that thesis.
Commonwealth profit bolsters bulls, encourages bears
Investors have cast a decisive vote that the worst is over for Australia's banks. We hope they're right; we fear they're wrong.
12 Aug 09 - Reporting wrap
Two of Australia’s largest companies – Commonwealth Bank and BHP Billiton – reported their results today, along with several other entities.
11 Aug 09 - Reporting wrap
Today saw a profit update from Flight Centre as well as a report from one of our favourite blue chips, Cochlear, among a number of others.
Ho-hum on Flight Centre's ascent
In Gareth Brown’s absence, James Greenhalgh has taken a look at Flight Centre’s result update. And he’s wondering why the market got all excited.
Goodman's great escape
Goodman Group’s $1.8bn recapitalisation is music to the ears of Goodman PLUS owners. Does it also present an opportunity to buy into the ordinary securities?
10 Aug 09 - Reporting wrap
Today yielded several interesting announcements, including a profit report and capital raising from Bendigo and Adelaide Bank.
Discounting Seven for Stokes
‘Don’t get emotional about stocks’ counselled Gordon Gecko in the movie <i>Wall Street</i>. He was right, but that’s no mean feat when you’re talking about one of Australia’s most enigmatic and frustrating corporate raiders, Kerry Stokes.
ASX prepares for the onslaught
More than a year after we broached the threat of competition for ASX, it remains just that – a threat. But, while competition is probably inevitable, it’s unlikely to decimate the company’s business.
Slow and steady wins for Westfield
Westfield has earned its reputation as the ‘best in the business’. Though billion-dollar losses will grace its scorecard in 2009, its competitive advantage remains firmly intact.
Where to now for the big banks?
A little over three months ago, we published a key piece of research on the big banks. In this review, we reflect on the price movements so far and survey the scene for early signs on whether our fundamental call might ultimately prove to be wrong, or right.
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