Episode 9: Integrated Research, Xref and Mailbag

Can the company return to stronger growth?

They say stocks take the stairs up, but the elevator down. That is, gains are steady and incremental, but losses tend to be sudden and sharp. That’s generally been true for billing software developer Hansen Technologies (ASX:HSN), though earlier this month the share price seemed to catch a rocket: Igniting the boosters was news that Hansen had acquired Canadian catalog […]

A lot of investors seem to be pivoting their investment strategies in light of the coronavirus crisis. Mine, for better or worse, remains essentially unchanged: Seek to acquire a range of quality companies with a view to holding them for many years.  Aim to hold between 10-15 companies that do not have highly correlated risks. A quality company is one […]

Shares have more than doubled over the past year, but has the market gotten carried away?

The major market indices may still be hovering near all-time highs, but below the surface, there are more than a few stocks doing it tough. As highlighted recently, it’s mainly tech stocks that are bearing the brunt of investor pessimism, with concerns over AI-driven disruption knocking some former high-flyers down a peg or two. As a group, measured by the […]

“We need education in the obvious more than investigation of the obscure.” — Justice Oliver Wendell Holmes A great irony of economics is that the simplest, most fundamental of principles are often the hardest to accept. Probably because they can rub against our intuitions or, more often, our ideologies. Such impediments are common in many domains, but at least in […]

Berkshire Hathaway (NYSE:BRK) recently held its 2024 shareholder meeting, or if you prefer, Woodstock for capitalists.  If you’ve ever read much Buffett there wasn’t really any new insights in terms of how he thinks about investing. That’s not a bad thing; it’s Berkshire’s consistency of process that’s helped it deliver the long-term returns it has (about 19.8%pa, on average, over 58 years). […]

Here at Strawman, we like to poke around the lesser known corners of the market. And why not? There are lots of hidden gems to be found. In fact, there’s plenty of things to like about so-call ‘small cap’ stocks. More growth potential Less competition from other investors Less rational pricing (more opportunity to find significant mis-pricings) Better access to […]