Exciting new episode of Coolabah’s Complexity Premia Podcast out now!
This is an interview with Jason Lindeman, Head of Credit Research, published on Livewire recently. Jason Lindeman, Head of Credit Research at Coolabah Capital Investments, has seen some unusual things in his three decades managing credit. From Argentinian gaming companies operating from river boats, European and UK poultry farms when bird flu first hit, an …
This is an article published by Kieran Davies, Chief Macro Strategist, on Livewire recently. In a world of near-zero interest rates, the stance of monetary policy is now better measured by the size and composition of a central bank’s balance sheet. In Australia’s case, the RBA’s adoption of unconventional monetary policy has seen its balance …
In this new paper, Coolabah’s Chief Macro Strategist, Kieran Davies, and its Chief Investment Officer, Christopher Joye, examine the case for the RBA launching QE 2.0 after the current $100 billion QE program, which has helped slow the ascent of both long-term interest rates and Australia’s trade-weighted exchange rate, expires. They focus, in particular, on …
This is an article published on Livewire recently. Smart active managers in high-grade credit can find and exploit bond mispricings to generate alpha (or capital gains) that is as big, if not bigger, than the yield earned on these securities. This is Coolabah Capital Investment’s investment philosophy, which Portfolio Management Director Ying Yi Ann Cheng …
This is an article published on Livewire recently. Ying Yi Ann Cheng, Portfolio Management Director at Coolabah Capital Investments, says the manager spent almost one billion dollars buying assets in March 2020 in anticipation of the fiscal and monetary policy stimulus packages that ultimately lead to a strong market recovery. At the time, many investors …
Why Coolabah is painting a rosy picture for 2021 Read More »
This is an article portfolio manager Christopher Joye published on Livewire recently. Consistent with our March 2020 forecast for a very mild 0% to 5% correction in national house prices followed by a recovery around six months later, CoreLogic has reported today that national dwelling values increased by 0.4% in October for the first time …
Aussie house prices increase in October (in line with our March 2020 forecast) Read More »
This is an article portfolio manager Christopher Joye published on Livewire recently. Today I write that housing boom is tracking more or less exactly as we expected, and based on the RBA’s model of housing dynamics one should pencil in total capital gains of circa 20 per cent this cycle assuming no further reductions in …
This is an article portfolio manager Christopher Joye published on Livewire recently. In this column I submit 10 big ideas for the next decade, which is bound to be a dangerous one, including: the coming of self-aware artificial intelligence; fusion between AI and humanity to create homo-digitus; the prospect of people living to 150 years …
Hedgie: More sharks on land than in water in these parts Read More »
This is an article portfolio manager Christopher Joye published on Livewire recently. Our thesis is simple: capitalism is dying and the myopic public policy statism replacing it is breeding a new wave of zombie companies that cannot survive in a normalised interest rate world. These zombies have loaded up on debt they can only just …
On the subject of the search for yield, one question I am regularly asked is whether retail investors should be switching from major bank hybrids
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