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James Smalley

The market's "all-time highs" means it must be overvalued - Fake news?

Seemingly not a day goes by where various media commentators espouse their opinion on the current level of the New Zealand share market, almost uniformly describing the market as overvalued. On the face of it, this seems perfectly reasonable, given the market is hitting all-time highs on a daily basis. But do these highs really represent a market that has outperformed? Detailed analysis tends to prove otherwise. The chart above tracks the New Zealand share market since its highest point it...

Market Wrap with James Smalley - 10 April 2018

New Zealand shares stayed just above water today, with wins from Pushpay and IkeGPS overcoming further losses for Orion Health. The S&P/NZ50 Index gained 15.64 points, or 0.18%, to 8469. Turnover was $97 million. Orion Health was down 6.25%, to 75c, marking a slight turn into the red after yesterday’s 80c finish. Today’s close ends its surge on the back of trade sale speculation reported by NBR and that the company later confirmed was a possibility. “The market will certainly...
Filed under James Smalley \ NBR

NZ Stock Update - Ryman Healthcare

RYMAN HEALTHCARE - LUCKY COUNTRY PROVING TO BE A WINNING BET By James Smalley, Investment Adviser Ryman Healthcare (RYM.NZ) has been a long term staple holding in many of HHG client’s portfolios, with investors having a total return of 332% on their investment in the four years from 1 Jan 2010 to 31 Dec 2014. However in the following 4 years up until the company’s recent release of its ½ year result on the 23rd Nov 2017, as shown by the...

The Income Conundrum

It is almost 10 years since the beginning of the Global Financial Crisis (GFC) and most asset prices are now as high, if not higher, than before. Here in New Zealand, you would have to have been living under a rock not to be aware of what has happened to property prices over the last few years, and certainly since 2013. However there is one type of investor that has been left behind, and their plight to a certain degree has...

Bonus Bonds: The much more Fun Investment, Yeah Right.

Bonus Bonds hold a truly unique place in New Zealand’s investing landscape, like many new Zealanders, I myself have held them (courtesy of a gift of my parents) when I was a child. A Little History…. Bonus Bonds is actually a unit trust founded in 1970 with a reward scheme based on cash prizes. The New Zealand Government launched bonus bonds under the Unit Trusts Act 1960 through the Post Office Savings Bank (which later became PostBank) with the goal...
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