Global Equity Strategy: Opportunities in Japan and India
Our outlook for ex-U.S. markets (MSCI ACWI ex-U.S. index, local currency) remains neutral - bordering on cautious. Our concern stems from the...
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Spark Accelerates Its "Quantum Performance Improvement Program" Bringing Forward Costs and Benefits
When we last wrote about Spark New Zealand Ltd (SPK NZ), Ian Martin highlighted the possibility of accelerating the costs of its "Agile" program...
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A Tactical Tilt at Interest Rate Sensitives
We remain underweight interest rate sensitive stocks. The rise in global yields has been driven by Fed policy alone, and this looks set to continue...
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Spark Delivers Higher Growth with Higher Costs but in Line for FY18
Spark New Zealand Ltd (SPK NZ) reported revenue of NZ$1,822m, Ebitda NZ$464m and NPAT NZ$172m with revenue slightly below Ian Martin's expectations...
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Notes from the Silk Road: Setting Out Our Small-Mid Cap Lemonade Stand
Our Independent Lemonade stand approachIn 1973, Bob Jamison introduced his business simulation game in which choices are made by a player regarding...
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