Odinian Beta

The old adage that "past performance is not an indicator of future returns" is possibly more relevant in today's market than it's ever been.  When the market is driven by momentum, as it has been through the past decade, piling onto winners has paid ...

It's not a stretch to call the last twelve months in markets a regime change. Inflation, rates, valuations, liquidity; everything has been turned on its head.  While today's conditions may be unique in makeup, they're not new in isolation. Each of th...

When markets crash sharply, as they did earlier this year, it can be a mistake to assume that as soon as the falls peter out, the market will then naturally recover.  Sure, this sometimes happens. The crash of 87, the global financial crisis, and COV...

The world is opening, but not to calm and stability.  Rather, COVID has left a trail of destruction. And I'm not talking about the health implications. The pandemic has left economies and markets rattled by supply chain problems, inflation, and rate ...

Investment management can be a brutal business. When you're talking small caps, the brutality is amplified orders of magnitude.  Between March 20 and September 3 last year, the ASX Small Ordinaries Index sky-rocketed 44.38%. That's the kind of perfor...

Fixed income has had a torrid time of it the last year – in fact, by some measures it’s been the worst year on record – with US treasuries losing about a tenth of their value.  Since the beginning of this year, global bonds have recorded their worst ...

Markets are a right mess today, thanks to surging inflation and the fear of what that will do to earnings.   In this environment, you want companies that have the market position, leadership and balance sheets to survive. However, actually finding th...

The prophets of doom are blowing their recession horns. Accordingly, investors want to hold assets that can be bulwarks against whatever's driving recession - that being inflation in today's case. And that's what today's edition of The Rules of Inves...

Let's face it, it has been hard going in the small caps space - which is down almost 18% this calendar year.  As soon as you get headwinds such as inflation and rate hikes, babies will invariably get thrown out with the bathwater. Good companies with...