Viewpoint: Bullish
ResMed (RMD) develops, manufactures, and markets medical equipment for the treatment of sleep disordered breathing. The Company sells diagnostic and treatment devices in various countries through its subsidiaries and independent distributors.
The fund manager today announced it had seen $691m in inflows for February, with positive retail flow offsetting net redemptions from institutional investors. Total FUM was only ~$200m better off though as investment movements weighed.
iShares Europe ETF (IEU) is an exchange-traded fund incorporated in Australia. The Fund seeks investment results that correspond to the performance of the S&P Europe 350 Index.
The ETF is listed on the ASX under code IEU.
We believe TLS is in a major turnaround phase with undervalued assets and a sustainable dividend making it an ideal holding in our Income Portfolio, also for good measure its under owned by fund managers including ourselves. The question today is does TLS warrant a position in our Flagship Growth Portfolio.
Afterpay continues to dominate the market news as the volatility in the BNPL space magnifies even the most dramatic sector moves. Over the last 4-weeks APT has corrected 26% into our identified major technical support area
Coles shares have tumbled ~15% over the last couple of weeks following their half-year results, the headline result was ok but loss of market share and an uncertain short-term outlook has weighed on the share price. COL increased revenue 8% to $20.6bn flowing down to a 14.5% lift in profit to $560m but the outlook that the best is now behind it has been the cause of the decline.
MM have mentioned CSL a number of times in the last few weeks but after ignoring / being bearish this quality company for almost 2-years we now believe its time to start buying as the masses are jumping ship – the stocks valuation has already dipped well under 40x after previously being priced too optimistically in our opinion, another 5% downside and the risk / reward will look good.
Accounting software firm Xero another they had bought European workforce management business Planday. The software integrates into accounting software to provide businesses with a range of performance metrics and labour needs. Xero have a clear goal to build out their offering past accounting, and this acquisition ticks that box.
If we are correct and bond yields are due for a decent pullback and US tech’s “looking for a short-term low” this by definition impacts a few positions in our MM Growth Portfolio with 2 at the centre of my thoughts at this point in time:
