data »

[1 Apr 2011 | 3 Comments | ]
All Ordinaries PE ratio from 1974 to 2011

Here’s an update of the Australian All Ordinaries P/E ratio chart from this post a year ago. Click to enlarge.
There hasn’t been a lot of change since last year as the Australian market continue to stagnate.  If I get a chance I’ll update some of the other charts as per last years post. If I get even more time which is doubtful I’ll try and put together a cyclically adjusted P/E, CAPE, chart as per Robert Shiller’s wonderful data on the S&P 500.

Analysis »

[1 Apr 2011 | 10 Comments | ]

Non-dilutive funding grant awarded by BARDA for development of Inavir is a game changer for Biota and substantially de-risks the company. The funding places a higher floor under Biota’s value and increases the probability of high value eventuating. Although Inavir will not be commercialised for 5-6 years, the contract is cost plus, royalties will continue from Inavir in Japan and Relenza world wide and the rest of Biota’s pipeline continues to progress. Good management could unlock substantial value for shareholders in the years ahead.

Commentary, data, Featured »

[27 Mar 2011 | 11 Comments | ]
Is the US Market Expensive?

If the US market appears cheap when viewed through your moment in time P/E filter, then perhaps it’s time to change your filter.

Analysis »

[26 Mar 2011 | No Comment | ]
Various Market and Portfolio Musings

Musing on the market and specific shares. Including Advanced Share Registry, Anteo Diagnostics, Prana Biotech, Biota Holdings, Pfizer, Biogen, 3M and Catch the Wind

Featured, Review »

[18 Mar 2011 | 13 Comments | ]
Peter Lynch – Beating The Street

You can’t see the future through a rearview mirror.

Commentary »

[15 Mar 2011 | No Comment | ]

“Because fund managers have certain funds which are designed to track the indicies.So once the stocks that comprise the indicies change (18th), they are forced to rebalance their holdings of securities.”
I often see this incorrect view put forward, so am posting this here as a to be expanded work in progress.
If you think about it then simply buying any companies that have been included in an index would result in market out-performance, because they the stock has to go up because indexers have to buy them. People’s next thought is …

Analysis »

[11 Mar 2011 | No Comment | ]
Baby with the Bath Water – Oplink Communications

Oplink Communications (OPLK) is worth keeping a close eye on right now as it has been crushed on sector concerns, notably Finisar’s earnings warning. Oplink closed Thursday at $21.51 down 27% from the recent high.

PEG of 0.44
$168M in cash and equivalents is 40% of their $428M market cap, with no debt.

Analysis, Featured, Watchlist »

[8 Mar 2011 | 13 Comments | ]
Licking my Lics

It’s not hard to find a good LIC which consistently beats the market and trades and a discount to NAV.

Analysis »

[7 Mar 2011 | One Comment | ]
M2 Again – Interview and Guidance Upgrade

M2 Telecommunications are firing on all cylinders and with both the NBN most likely to assist their profitability and further clever acquisitions their future looks bright.

Analysis »

[28 Feb 2011 | No Comment | ]
M2 Telecommunications – A True Leader

Peter Lynch and then Warren Buffett famously said,  buy into a business that’s doing so well an idiot could run it, because sooner or later, one will. That quote is often incorrectly taken to imply that management doesn’t matter. Anyone reading Buffett’s latest annual letter to shareholders should be left with no doubt that management is vitally important to Buffett. He views the integrity and talent of his executives as one of the keys to his success.
That brings me to Vaughn Bowen and team at M2 Telecommunications (MTU.AX). M2 is the leader in network independent telecommunications in …