Morning Report Thursday 29 January 2015
I have spoken to a number of subscribers over recent days who have commented that my last few morning reports were news, not opinion focused. This is great feedback as it’s exactly what we are NOT trying to achieve, but it’s a reflection that I have been a little 50-50 short term and with the exception of the recent Telstra (TLS) purchase devoid of opportunities.
I am still strongly of the belief that US equities will experience a 10-15% correction in early 2015, interestingly the DOW is already down 5%, but the ASX200 is up over 1% with a weak $A likely helping here. The local market is performing very well in 2015, as the chase for yield that we have been discussing recently intensifies – CBA hit an all-time high yesterday and Telstra (TLS) is at 13 year highs. In the current environment, I am happy to only have any decent exposure to these two stocks. As most readers understand by now, I am not believer in traditional “Portfolio Theory”, preferring Warren Buffets attitude to investing:
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