Australian market

[ERICOPOLY]

Does anyone follow the major Australian equities? 

 

58 cent AUD/USD exchange rate now and it was 66 cents last week.  AUD was stronger than USD in 2011.  A little tailwind from current exchange couldn't hurt when things settle down again.

 

 

[no_free_lunch]

Similar situation in Canada.  CAD has weakened by 10% over the past couple weeks.

[thowed]

I follow some funds there.  Of most interest for us non-Australian investors are the sizeable number of listed companies (i.e. closed-end funds) which must be getting to some serious discounts.

 

Individual stocks I'm not so good at.

 

Maybe take a look at WH Soul Pattinson, which is a family-controlled diversified holding company. From memory it had a good reputation.  I think it would be lazy to say an 'Australian Berkshire', but you get the drift.

 

 

[kmukul]

it has probably overreacted, with so much money printing going on I cant imagine commodities remaining low, it might recover. The question i am thinking is , can we profit from it?

[ERICOPOLY]

A story about the currency trading:

 

https://www.wsj.com/articles/aussie-dollar-at-55-cents-stocks-plunge-in-korea-the-worlds-desperate-for-dollars-11584619914?mod=hp_lead_pos6

 

 

[kab60]

I'm long AMA Group and down 75 pct in like a month. Insiders have been buying.

[Spekulatius]

The MXN.USD currency pair trades like an equity nowadays. +/- 4% Swings some days.

https://www.xe.com/currencycharts/?from=USD&to=MXN&view=1M

[ERICOPOLY]

There was an article yesterday about Australia having the most success in fighting the virus:

https://www.cnn.com/2020/05/01/asia/australia-coronavirus-success-intl-hnk/index.html

 

 

But it looks like their major banks are cutting payouts substantially -- it's interesting what a high ownership of the banks is held by retail investors, up to 50% of one of the big four:

 

https://www.smh.com.au/business/banking-and-finance/don-t-bank-on-it-payout-shock-as-dividends-hit-the-wall-20200430-p54otp.html

 

 

[kab60]

I'm long AMA Group and down 75 pct in like a month. Insiders have been buying.

Thing is up almost 300 pct from when I wrote - from down 75 pct to up 50 pct. What a rollercoaster. Hope others limped in, crazy setup and despite runup insiders still buying. Haven't sold, suddenly 15 pct of portfolio.

 

Haven't done any work but another aussie idea might be Village Roadshow, Mittleman is long.