Quarterly Commentaries

The investment team spend a lot of their time thinking about individual stocks, markets and all sorts of other related (or often unrelated) topics. These get filtered through the quarter with the (hopefully) more interesting ones making it into our quarterly commentaries. These can be found below - we hope you find them interesting reading.

  • July 2018

    This investment commentary contains the following articles:   Quarter in review Sell downs by founders.  In June we saw the good the bad and the ugly. To be or not to be?  (A conglomerate.) Corporate Values - worth the effort? Dire Straits ...
  • April 2018

    This investment commentary contains the following articles:   Quarter in review Fund activity! Time to get climbing? Governance versus alignment   We first review a volatile but positive quarter.  We then discuss our higher-than-usual investment activity in “Fund activity!”....
  • January 2018

    Happy New Year!  This investment commentary contains the following articles: Quarter in review Year in review NZ equities – a perfect 2017 Outlook Stock picking and the art of motorcycle maintenance   We first review the previous quarter and then the year, including NZ Equities...
  • October 2017

    This investment commentary contains four articles: Quarter in review Don’t bank on those dividends Equities versus bonds? Super cheap Boom We first summarise the previous quarter. We then question why a company might raise capital when it can just stop paying a...
  • August 2017

    We first summarise the previous quarter. Then, in “Get real” we look at inflation and why investors are faced with three choices when it comes to maximising returns.  We then use Tourism Holdings as a case study for the capital cycle and finally we look at the performance of this year’s IPOs...

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