TOL - 11th Mar, 2024
The key themes and stocks to carry the ASX over the next six months
With reporting season done and dusted, we highlight the key themes expected to shape the market for the next six months.
The recent reporting season was dominated by domestic cyclicals, which outperformed in both sales and margins—a surprising aspect of the season.
Additionally, cost-out programs across various sectors and the strength of consumer spending were notable themes.
In the following interview, Jason Kim and I discuss the results from the banking and insurance sectors, a prominent blue-chip stock we view as a value trap, and the stocks and sectors where we currently see value.
Time codes
0:00 - The biggest surprise - domestic cyclical strength
0:35 - Cost outs and the strength of the consumer
0:43 - Key highlights: strength of the Australian economy
1:10 - Banks are still expensive
1:26 - CBA: Buy, Hold, Sell?
1:38 - ResMed, QBE, Iluka: Buy, Hold, Sell?
4:45 - One stock that still looks "very attractive"
5:50 - A standout buy from Brad
6:30 - The themes driving markets
7:30 - Identifying value traps and one stock to avoid
8:55 - The outlook for lithium and iron ore
11:32 - The outlook for the insurance sector
12.22 – The outlook for 2024
Managed Fund
Tyndall Australian Share Wholesale Fund
Australian Shares
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Brad joined the business in 2002. He has 28 years’ experience primarily in the funds management and stockbroking industry, and has overall responsibility for managing the Australian equities team, process and portfolios. Prior to joining, Brad was Director, Corporate Finance with Westpac, a Senior Resource Analyst with Ord Minnett and in his early career, a geologist working with a number of resource companies. Brad has portfolio management responsibilities for the Tyndall Australian Share Wholesale Fund and Tyndall CVA Plus Strategy. He has analyst responsibilities for Banks.
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Brad joined the business in 2002. He has 28 years’ experience primarily in the funds management and stockbroking industry, and has overall responsibility for managing the Australian equities team, process and portfolios. Prior to joining, Brad was...
Expertise
Brad joined the business in 2002. He has 28 years’ experience primarily in the funds management and stockbroking industry, and has overall responsibility for managing the Australian equities team, process and portfolios. Prior to joining, Brad was...
Expertise
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