Articles

Articles

Cadence Investing Series by Karl Siegling

May, 2018

In this article series by Karl Siegling, Cadence Capital Limited Managing Director and Portfolio Manager, we discuss several aspects of the investment process and how it actually works in practice. The articles cover topics like market psychology and fundamental analysis, and they aim to provide the reader with a first-hand view of how financial theory stacks […]

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Mining services stocks ride the cycle

March, 2018

Every discussion on the mining services sector should start with the concept that commodity prices go up and down based on demand and supply, and resource company profits go up or down. So, too, do those of mining services companies. Put another way, resource company profits are a derivative and more extreme version of commodity […]

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Macquarie Group (MQG) breaks $100

December, 2017

Back in November 2012, we told shareholders at our AGM that we had started scaling into MQG at $24 after it hit a low around $17. The audience started laughing! Last week we held our 2017 AGM and the share price was nudging $100. Today MQG finally broke through $100. Back in 2012, the share […]

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The impact of global migration of millionaires

June, 2017

A 2017 report by market research firm New World Wealth concluded that a record 82,000 millionaires moved to a new country in 2016, up 26% from 62,000 in 2015. The estimate is that approximately 100,000 millionaires will move country each year by 2018. A millionaire in this report is defined as those having at least […]

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Is the next resources boom starting?

January, 2017

Below is a chart we presented at our most recent Annual General Meeting depicting the S&P/ASX 200 Resources Index over a sixteen-year period. Within this extended period, we see a resource ‘boom’, the Global Financial Crisis and subsequently the resources ‘bust’. This chart depicts the truly cyclical nature of resources and the large demand supply […]

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Winners If The Australian Dollar Falls

August, 2016

Currency and interest rates are currently playing a large role in the world economy, which should be no surprise because we are covering new ground in terms of record low rates and subsequent currency fluctuations. At present, 40 per cent of the developed world’s interest rates are negative. By contrast, Australia has one of the […]