April Newsletter | Is it a time to be alert but perhaps not alarmed? We are frequently asked whether or not we consider the share market to be expensive. In our opinion, equities continue to look reasonably priced in absolute terms and attractive ... Read more
The Power And Danger Of Anchoring
March Newsletter | Is the power of anchoring influencing your investment decision making? Anchoring in finance terms refers to basing investment decisions on previous known facts or stock prices, even if they're not relevant to assessing value. It is ... Read more
The Opportunity Cost of Risk-Seeking Behaviour
February Newsletter | What is the opportunity cost of risk-seeking behaviour? In Auscap's February 2015 newsletter, we explore our perception of a common attitude towards risk - that in a person's life cycle they should be more tolerant of risk when ... Read more
Simple Logic For The Value Investor
January Newsletter | What makes a great investment? Is it important to find a great company at any price or any company at a great price? In this month's newsletter we discuss the relationship between price and value when looking at prospective ... Read more
Is It Time To Go Shopping?
December Newsletter | Is it time to go shopping? The festive season is a critically important period for retailers. A significant proportion of their profits come from the pre- and post-Christmas period. Generally forecasts for this season have been ... Read more
Global Steel Supply & Demand
October Newsletter | There are many amazing statistics borne from China's phenomenal growth story over the last few decades, perhaps none more than those surrounding China's growth in the production and consumption of steel. And certainly for ... Read more
Analysing FY14 Fund Returns
September Newsletter | In this edition we analyse the returns delivered by the Fund in FY14 in terms of single stock and sector contributions. ... Read more