The merger announced today between Nine Entertainment and Fairfax Media is the most recent instance of corporate activity in a rapidly consolidating Media sector. The combined group will combine Nine’s free-to-air TV network, a portfolio of digital businesses (including listed property portal Domain, the Stan streaming business and the 9Now digital platform), Fairfax’s mastheads and a 54.5% stake in the Macquarie Media radio business.
IML Portfolio Manager Daniel Moore joins the panel to share his view on a few quality companies Livewire has identified as having good return on equity (ROE), strong earnings growth and low levels of gearing. The challenge now is to see if there's value for investors. Daniel also shares a quality big cap that in IML’s view is a buy right now.
Of late we've been hearing more about the impact of tighter lending standards for people applying for mortgages. Housing prices have rolled over and many people are getting nervous that this is just the beginning. IML Portfolio Manager Daniel Moore joins the panel and takes a closer look at the topic, the ASX listed stocks most affected by this and what we should be aware of.
IML Portfolio Manager Daniel Moore joins Jeremy Hook from TMS Capital and Tom Richardson of Watermark Funds for Livewire’s Buy Hold Sell series. In this episode they give their view on 5 big stocks with big yields that have been screened for attractive and sustainable yields.
A handful of stocks are commanding multiples of more than 40, 70 and 100 times forecast earnings, the surest sign that the ASX's technology sector is experiencing a melt-up and possibly even bubble-like tendencies just weeks ahead of the annual earnings season.
Simon Conn, IML Senior Portfolio Manager, comments "It's all about momentum and not so much about the earnings."
When looking at all stocks over a period of time, even the best quality ones, it becomes clear that companies often fall into or out of favour with investors based on short-term factors. These short-term factors can greatly impact the perception and the PE rating of the company’s stock price and will often impact investors’ perception as to what constitutes a company with bright prospects (a ‘growth’ stock) as opposed to a company with poorer prospects.
The past 18 months has been a challenging and at times a frustrating environment for value investors. At IML we pride ourselves on our strict adherence to the IML investment mantra which has defined our approach to investing for the past 20 years – through all market cycles.
This can be neatly described as an investment style of Value with a strong focus on Quality. However, over the past 18 months this proven approach has significantly lagged the styles of Growth and Momentum based investing.
