Episode 8: Macro outlook, Microcap investing & Scorecard review

One of the great things about equity investing is that you can be extremely fussy. You don’t need to buy hundreds of stocks. A dozen or so can give you solid diversification, provided they’re not all marching to the same beat. And you’ve got literally thousands of candidates to choose from. Tens of thousands, if you’re happy to look offshore. But […]

Valuation is — or at least should be — at the core of any investment decision. Without a general idea of what a stock is ‘really’ worth, how can you know if the market is offering you good value? Defining the true, or intrinsic, value of a business is easy; it’s the discounted value of the cash that can be taken […]

Andrew pitches Integrated Research (ASX:IRI), Claude makes the case for Xref (ASX:XF1), and we answer some questions from listeners.

Kiwi accounting disruptor Xero (ASX:XRO) is undoubtedly one of the more remarkable ASX success stories. Had you invested in the company when it first listed on the Aussie bourse back in late 2012, your shares would today be worth more than 13 times as much. Heck, even if you’d bought at the start of this year you’d have gained around […]

I was recently fossicking through the archives and tripped over a piece I wrote back in 2018. It was a time when everyone was convinced the market was about to fall off a cliff; the indices had nearly doubled since the GFC lows and tech valuations were being described as “nose-bleed” by the pundits. With the market again at record […]

There’s a lot to love at the smaller end of the ASX…

We’ve seen a solid start to 2023, with the market as a whole already up by more than 6%. Some of the gains in the small-cap space have been far more impressive. Those that have enjoyed the biggest recoveries have tended to be ones that have reported: Strong balance sheets Positive (or at least improving) operating cash flows Sustained sales momentum […]

What are the pros and cons for shareholders?