PPM Short Papers

Australian short investment papers

Investment Papers & Analysis

We invite you to read the investment papers of interest. Media articles can be found on the News page and you may also wish to review PPM's White Papers or PPM Perspectives.

 
The world’s great investors have placed little emphasis on these economic and market predictions, instead focusing on the prospects for individual companies and industries...
 
Southern Europe is not the sum of global economic activity and there are areas where growth is strong or strengthening.
 
It is significant to point out that corporate profit growth in the US has been strong and is well above pre-GFC levels...
 
Risk can come in many forms not just volatility, and diversification alone may not always provide adequate protection...
 
The title above was a trader’s comment quoted in the Financial Times; we think it encapsulates beautifully a flawed approach which focuses on the short-term and announcement driven market.
 
The picture is one of robust and improving profitability. This is the case across a wide range of industries and is most marked in the important areas of banking, technology, and industrial businesses.
 
Although there is no unique ‘black box’ that can be employed, four of the key, and sometimes interacting, factors that help us identify themes over time include...
 
Despite all the hype about consumption growth commodity prices are cyclical...
Even among the most respected commentators, their predictions were no more accurate than a random role of the dice or the views of the general public...
 
There are some important differences between individually and separately managed accounts that have a significant effect on investment performance, suitability, and tax effectiveness
 
Our view is that the demand will be great, how great though, is currently unknowable... 
 
Discounting below the department store (and discount department store) pricing has become a national sport, or rather an international sport...
 
Porter on Portals
Internet portals exhibit many of the characteristics Prof Porter identifies...
 
Further stimulus by the Fed will result in stronger demand for so-called risk assets...
 
Prices for Australian Real Estate Investment Trusts (A-REITs) overshot on the downside, declining 36% and it was then that our interest was piqued...
 
The response by the funds management industry to the Resources Super Profits Tax (RSPT) or lack thereof, is baffling...
 
Few investment managers or for that matter investment professionals fully investigate the tax consequences of investment returns...
 
Not only is the industry sizable in its own right, it is fast growing...
 
If this tax proceeds, every new project and every expansion of an existing project must now be re-evaluated...
 
Of course market speculators, chartists, behavioural economists, and all manner of other punters will persist, romanced by the excitement of the market and the prospect of short term returns...
 
As is often the case with a tragedy of this scale the initial reaction of global financial market was very negative, led by a 10% drop in Japan’s Nikkei index...