A selection of articles written by our team to give insight into how we think about the world
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The past 20 years have been a stellar run for equities, characterised by steadily expanding production and few demand shocks, where fiscal and monetary policy enabled expansion to continue unimpeded....
The pandemic, devastating weather events, and the invasion of Ukraine are examples of macro-environmental shocks impacting companies worldwide. In a connected world, events that occur on one side of...
2021 has been a very unusual year. It seems appropriate to reflect on a year that has been characterised by isolation, distance, and virtuality. While 2020 imposed this strange new world upon us,...
The debate between allocating to a Value or a Growth fund is one that we come across all the time. Usually asset allocators are concerned that, at different points in the cycle, allocating to a...
An active product that can demonstrate a structural or repeatable element to its performance is indicative of skilled investment decisions, while one that cannot is merely indicative of good luck. In...
Identifying and understanding the key drivers of risk and return is a crucial skill for any long-term active investor. Traditionally these items were defined purely in economic terms (revenue,...
Networks are one of the most powerful competitive advantages a business can possess. Strong network effects make it difficult for businesses to be replicated, enabling long-term pricing power....
The recent pandemic has swiftly exposed structural vulnerabilities across the world. In Australia, housing is a fundamental component of household wealth, with the housing market being central to our...
While we are not qualified to assess the humanitarian impact of the virus, nor can we say how long the whole situation will last, we thank the medical and scientific community for their efforts in...
At the end of 2018, I was given the honour of presenting the Bond University 2018 Valedictorian address. Below is an (edited) version of my speech which highlighted three points for the graduates’...
