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  1. Leighton Unplugged

    One of the more worrying aspects of the reporting season was the speed at which optimistic guidance was torn to shreds for a few companies. This was primarily due to the FMG/iron ore price fallout. The most notable offender was … Continue reading

  2. FMG – Subtle as a sledgehammer

    For the believers the response was unequivocal. The shorters had copped it right where it hurt most. And by Fortescue standards it was overkill – using a sledgehammer to crush an ant. The $4.5 billion debt refinancing this week eliminates … Continue reading

  3. A Great Time to Get Set

    Fortescue has averted a debt disaster, iron ore is back over US$100 and the Fed’s unleashed an open-ended QE program. All this suggests that the world isn’t quite as scary as it was a couple of weeks ago for the … Continue reading

  4. Out Of Crisis Comes Opportunity

    The free-falling iron ore price and Fortescue’s decision to cut back its capex commitments dropped a grenade right in the centre of the Mining Services sector. Shrapnel flew everywhere, tearing great swathes from the stock prices of anything in the … Continue reading

  5. Built to Last

    Magellan Financial Group (MFG) is a company specialising in the management of international equities for Australian (and now overseas) investors.  The company was set up in 2007 by two former investment bankers, Hamish Douglass and Chris Mackay (ex-head of UBS … Continue reading

  6. Boasting Upcoming Builds in a Lavish Location

    The panic reverberating around the mining sector following FMG’s decision to curtail development will no doubt create attractive opportunities as stocks are oversold in the usual manner. Volatility is likely to remain high for a while though, so investors of … Continue reading

  7. Harvesting Opportunities or Expecting a Downpour?

    As any Investment Banker will tell you, there aren’t too many deals being done in the market these days. So when there is a bit of M&A activity it tends to attract attention, as was the case when Graincorp popped … Continue reading

  8. Nobody Told Me There Would Be Days Like This

    “Eddie Would Go” is the sign Laura Inman, the new CEO of Billabong, should have on her desk. Eddie Aikau was one of Hawaii’s great fearless heroes.  He rode the biggest waves at Waimea Bay, when no else would dare … Continue reading

  9. Wheels or Concrete

    Airlines grow rapidly, require significant capital investment and earn little money. So any long suffering Qantas shareholder should look covetously at annual earnings growth of 6 per and wonder why they own the wheels (after tax loss of $244 million) … Continue reading

  10. The Real Thing

    Having served its apprenticeship in the Pacific Beverages joint venture with SAB Miller, Coca-Cola Amatil has obviously developed a taste for premium beer. Yesterday’s announcement that the soft drink maker would team up with the Casella Group to expand the … Continue reading