Weighing up Macquarie Group
The group's recent annual meeting raised a number of small red flags, but they must be weighed against the broader outlook and current share price, which is not particularly demanding.
Stokes stalks Consolidated Media
The media has had fun speculating about Kerry Stokes’s raid on James Packer’s media investment company. Having followed the stock for some time, we've been pondering the likely end game and its implications for investors.
Servcorp tastes the Big Apple
The recession and the company’s expansion plans are set to chew up a chunk of Servcorp’s cash pile. Profits are also destined to fall, but this is a stronger business than ever.
An opportunity in Australand's ASSETS
Ordinary Australand securityholders have been diluted twice within a year. But on the flipside, that’s provided holders of its ASSETS income security with two extra layers of protection.
Good riddance to the 'Macquarie model'
The recent Macquarie Airports highlights the vulnerability of one part of Macquarie's business and the strength and diversity of the rest of its operations.
MAp takeoff poorly planned
Macquarie Airports securityholders want to extricate themselves from the clutches of Macquarie Group. Rightfully so, but they should be careful not to give too much away.
Willmott PINES present a conundrum
Our investment in the PINES income security hasn’t been disastrous compared to stockmarket returns over the past two years. But the new terms being offered for the next five years mean holders are caught between a rock and a hard place.
Wesfarmers gets Coles format right
Wesfarmers has been trying new store formats in its Coles supermarket division. We recently visited the company’s seventh pilot store in Sydney’s Balgowlah and came away impressed.
Banking profits on Babcock & Brown Japan
High risk is part and parcel of investing in speculative stocks. But unless the potential returns compensate for the risks, you’re better off elsewhere. We've now got a yen to take the money and run.
Two buys amongst international LICs
If you’re a firm believer in the benefits of global investing, then international listed investment companies are a good place to look for bargains. We have a few on our buy list.
Discounts ripe for the LICking
For the listed investment company class of 2003/04, significant discounts to net tangible assets have persisted since listing. But, with recent corporate agitation, there’s reason to think returns might be about to improve.
Foster's Group's wine spritzer
Disastrous wine investments have diluted one of the best companies in Australia. But the situation at Foster's might be soon rectified as the company looks to sell its underperforming division.
Amalgamated's attractive assets
While its more aggressive brethren entered this downturn geared to the eyeballs, tourism and leisure conglomerate Amalgamated Holdings has plenty of financial firepower. Having $760m worth of property assets on the balance sheet helps, too.
GrainCorp exits: The Ideas Lab
The time has come to take profits on our first ever experiment in <i>The Ideas Lab</i>. We’re calling it a success.
Dexus’s property values continue to fall
There’s still an opportunity here, but investors must choose the right security to back. And the goings on at this property group are a portent for the rest of the sector.
Premium Investors, premium fees
While management's attempts to bridge the gap between the share price and NTA are admirable, it’s still not enough. It’s time to shut up shop.
TAPS on hold
This income security has provided the exact sort of refuge we were hoping for when we upgraded in the middle of last spring’s pandemonium. And a recent capital raising has made them even safer.
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