New job, new firm but the same Free Whelan. Thank you for your continued support and keep unlocking valuable insights into the global market every week with me!
Back at “home” (work) after being on the road (work) last week road showing a company we cover (Impact Minerals) to from Sydney to Brisbane and then to Melbourne.
I may have mentioned it before but there was a time that I was envious of the senior guys running the shows. Travelling with companies, organising deals and sitting in “fancy” restaurants (I’m still, and will always be, that kid from Kenthurst).
Now that I’m running the show I can see that it’s crushed suits, backfilling late cancellations, domestic flights and a level of concentration leading the conversation of a 15-person room.
It’s hard, but it’s the job and I love it.
For an overview of Impact (IPT.ASX) I had an interview with the MD Mike Jones, please follow the link here. Brilliant company with a great future. I’m enjoying the work we’re doing with them.
Speaking of companies with great futures…
Source: New York Post - X
There’s a point at which a company has to think that the trouble they’re going to cover up their failings would be better spent just fixing the problems inherent to the company.
But who am I to tell a company how to run its business?
Stay the course and if you’re ok ethically buying a company that probably bumps off whistleblowers then the more likely it is that Trump gets elected the more you should buy before the US election in November.
Inflation and the economy
US markets had been going through it recently with some more uppish inflation data than they needed. Then the Nonfarm payrolls dropped late last week and were weaker than expected, so markets went up seeing this as a signal the Fed can start it’s cutting cycle slightly earlier than previously expected. Keep in mind that the market has priced Fed cuts from “heaps” at the start of the year to “maybe” this year. Either way US markets either seem to sluggishly rally in spite of higher rates or take off with the tailwind of potential cuts. There’s minimal in-between.
Regardless of your view on rates here is a quick summary of pricing at the Miami Grand Prix just passed.
Extraordinary.
Locally the RBA meets to get hawkish. They have no choice but to. There’s a growing chorus of economists saying the RBA has an increase in them somewhere. I disagree but I do think the hold with be as hawkish as possible.
I think it is now safe to say that anyone who said inflation was transitory was wrong. No argument.
I’m holding fast to the view that the US remains on these rates for longer and Australia sees more cuts quicker at the back end of the year. However, the next few weeks will be a sea of choppy data and switching momentums.
Finally, here’s a nice thing from the science desk. The camera can capture 1 trillion frames per second. Humans are amazing.
https://x.com/BrianRoemmele/status/1786888668512481445
Stay safe and all the best,
James
A quick detour to announce the BPC NRL Tipping Competition!
Welcome to the BPC NRL Tipping Competition for 2024. The season has kicked off with a bang in the glittery lights of Las Vegas. Panthers are favorites to take the crown again but the Broncos look like a formidable opponent to take revenge from the heartbreak of 2023. BPC loves its footy and we're very excited for the season ahead. We also love to win stuff so please keep an eye out for the prizes on offer. Sign up and join the game!
