Episode 8: Macro outlook, Microcap investing & Scorecard review

The Aussie market, as measured by the S&P All Ordinaries Index, entered a ‘technical correction’ this week, having fallen more than 10% from the record high it hit at the start of the year. Small cap stocks have fared worse, down about 14% over the same period of time according the ASX Small Ords. The situation for tech investors is […]

Any investment that promises low risk and high returns is almost certainly a scam. It’s the financial equivalent of getting something for nothing — a fantasy that ends only in disappointment. In the real world, certainty comes at a price. And that price is lower returns. Think about it; if a largely ‘risk-free’ but high return investment were available, it would attract a […]

During the week I caught up on a podcast with Howard Marks and Morgan housel — two thinkers in the financial space I greatly admire. (Shoutout to Karmast for suggesting it!) The main topic was debt, and how it narrows the range of outcomes an investor can endure. And it showed how successful investing is less about brilliance and more about […]

A decent first quarter has helped push shares higher

There are few inventions in human history that can match the transformative impact of the internet. Fire, the wheel, language, the printing press, the Magna Carta—each fundamentally reshaped society. The internet belongs in this pantheon. It has revolutionized not just communication but commerce, finance, culture, and governance. It is difficult to overstate its significance. At its core, the internet is […]

Can the company return to stronger growth?

With most companies issuing results this month, it’s a busy time for investors. And, given some of the volatility these results can induce, it’s also a period that can test your nerves. Sometimes the market’s reaction is perfectly rational. But not always, at least not in the context of how a long-term investor would appraise things. A good example lately is […]

Between 2019 and 2020 Warren Buffett’s Berkshire Hathaway (NYSE:BRK) underperformed the S&P500 by 37%. It was one of the poorer periods of relative performance for the Oracle of Omaha, who was “burdened” with loads of cash and missed out on a lot of the boom in technology stocks. As you can see, Buffett regularly lags the broader index. And sometimes […]