Wry & Dry #36-25 Gnats incompetence reveal. AAA loss leads to ZZZ. Bre-enter.
The flat-earthers in the National Party have locked Albo into the Lodge until 2037. This week’s great schism of the Coalition mirrors the ALP split of 1955. And that sandpit fight kept the ALP out of office for another 17 years, until Whitlam gave the treacherous Billy McMahon the DCM in 1972. But by this morning the Gnats might have changed their minds.
Portfolio Update – May – the “mini” reporting season
During May there are many opportunities for companies to update the market. These include investor conferences such as Macquarie Bank in early May and dedicated Investor Day’s that individual companies provided to analysts and the broader investment community.
In addition, some companies with different financial year reporting timetables update the market. Companies such as Macquarie Bank and Nufarm are examples from this month.
Clients may have noticed the sharp rebound in the share market in recent weeks, and we would note that the opportunity the sell-off in April provided proved beneficial to returns. We were net buyers, reducing our cash holdings in April, and the sell provides opportunities to add to Oil / Energy and Technology companies. A number of these positions have been handsomely rewarded.
The Macquarie Bank update pointed to long-run value creation.
This week’s Investment Matters will focus on the Nufarm result, Investor Day presentations from Seek Limited and Worley Limited, and a quick note on the rare earth miner / industrial processing company Lynas Corporation.