Domestic Shares – Intellectually vacuous, but at last some diversity

At last, some diversity. The March quarter for the ASX saw a myriad of stocks and sectors lead and lag in performance. A motley lot – South32, Medibank Private, Newcrest, Vicinity, Santos and Transurban – were the best performers, whereas Macquarie, Incitec, the major banks, Computershare, Woolworths and Caltex were among the worst. Even though bonds still rallied through the quarter, it was a marginal move and the path was wild, and equity markets followed accordingly. It continues to be intellectually vacuous to believe that Bonds are expensive whilst maintaining that the best performing stocks on the ASX through the past few years, which are almost wholly Bond sensitives, continue to have the best prospects. We explore some of the themes we saw over the last quarter in “Taking Stock: A motley lot ignites diversity” (VIEW LINK)