21/05/2024 15:44

International Equities Portfolio – Amendment

We are selling an international position for a profit.

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17/05/2024 09:11

Deere & Co. Ltd (DE US) $US394.43

The owner of the iconic John Deere brand reported stronger-than-expected 2Q earnings overnight. However, they lowered their FY guidance due to weakening ‘farm economics’ in most areas, with particular softness coming through in North America. Deteriorating global agricultural markets at a time of elevated inventories are likely to put downward pressure on 2H production, and they lowered their FY24 profit guidance by 8%. The stock fell nearly 5% on the session.

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22/08/2023 09:35

Deere & Co Ltd (DE US) $US390.79

Deere & Co reported last Friday with the shares falling despite an earnings beat, third quarter EPS at $10.20, driven by equipment sales of $US14.3bn which was way ahead of analyst expectations of EPS of $8.22 and sales of $US14.1bn.

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12/04/2023 09:17

Deere & Co (DE US) $US380.94

In February, John Deere provided a great quarterly update beating expectations and upgrading full-year earnings guidance – the stock popped and all looked very solid. More recently shares have come under pressure and our  6% holding bought at $US367 is now up only ~5%, having been up ~18% at its best, prompting the question, has something changed? 

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22/02/2023 09:19

Deere & Co (DE US) $US427.17

When farmers are making money, they buy machinery and as supply chain pressures ease, Deere & Co is now in a very good position to take advantage of this growing demand through better pricing which sees stronger margins – a theme that has started to play out as reported in their Q1 update last week where they beat expectations and raised full-year earnings guidance - the stock ‘popped’ ~7% on the day.

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31/08/2022 09:37

Deere & Co (DE US) $368.74

Australia is a small market and expanding our horizons to give subscribers access to true global players in different industries underpinned our decision to launch the Market Matters International Equities Portfolio midway through 2019. Since then the portfolio has returned 15.27% per annum targeting a high conviction portfolio of around 20 large-cap stocks. While Deere & Co have more than 25 brands, the green and yellow John Deere tractors are...

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17/08/2022 09:20

International Equities Portfolio

The MM International Equities Portfolio had a strong week in both absolute and relative terms up by 5.62% while cash sits at 7%. The portfolio is now up 14.86% for the financial year to date, well ahead of the market. For a second straight week, The Trade Desk (TTD US) was the standout performer adding +34.67% after a strong quarterly update while two of our more discretionary focussed stocks in recreational boating company Brunswick (BC US) and...

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29/06/2022 09:31

International Equities Portfolio

The portfolio was up marginally (+0.20%) during the week, not a great outcome in a strong market. Cash sits at ~9% Positions in The Trade Desk (TTS US) -5.31%, Deere & Co (DE US) -5.23% & Barrick Gold (GOLD US) -4.38% weighed, while Alibaba (BABA US) was a standout adding +10.77% as it appears regulatory pressure is easing in China, a big positive for beaten up / deep value Asian facing technology companies such as BABA which trades on 16x while growing profits at a similar clip.

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25/05/2022 09:18

International Equities Portfolio

The MM International Equities Portfolio endured a tough week falling -2.7% with Trade Desk (TTD) -16.7%, Deere (DE US) -9.6% and Tencent (700 HK) -8.1% weighing heavily while Barrick (GOLD US) +6.7% and Glencore (GLEN LN) +3.5% were our best on ground.

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16/03/2022 09:32

International Equities Portfolio

The MM International Equities fell -2.03% last week with cash sitting at 9%. Our tech exposures provided the biggest weight, with both Tencent (700 HK) & JD.com (JD US) falling sharply, while Amazon (AMZN US) +10.9% and Deer & Co (DE US) +8.36% offset most of the decline, while a weaker AUD added +1.75%. If we are correct, the recent decline in tech will reverse very soon.

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