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F Palmer & ME Palmer
Trading as Joseph Palmer & Sons
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Investment & Economic Review October 2020

15 Oct 2020

More than half a year has passed since the global pandemic wreaked havoc in societies and financial markets worldwide. Regrettably, the virus remains virulent so has slowed the pace of economic recovery and caused a multitude of social implications to remain prominent. The path towards a vaccine seems promising, with more than 130 projects globally, funded almost limitlessly, with accelerated clinical trial processes. A rapid rebound in consumer confidence and associated economic activity is expected should a successful vaccine become widely available.

Relationships

21 Sep 2020

People do business with people because they choose to not because they have to. 

We can always find others doing the same thing or selling the same product, it's the personal connection that makes the difference.

Investment & Economic Review July 2020

15 Jul 2020

The 2019/20 financial year was truly extraordinary.  For the first eight months it was steady progress, with asset prices modestly inflating, interest rates staying low and consumer confidence elevated.  Then the pandemic triggered the diametric opposite, a large deflation of asset prices, an economic conflagration and worrying social and health concerns.

My last quarterly report, in early April, coincided with the depths of the market downturn, at which time the wellbeing, social and economic effects and consequences of the global pandemic were entirely unknown.  Three months later there is some clarity and a modestly improved stock market, but still immense uncertainties and rattled consumer and business confidence. 

The Crucial 'One Per Centers'

26 May 2020

Every investor hopes - expects, indeed - to see their portfolio gain acceptable percentage improvements over the investment cycle.

Investment & Economic Review April 2020

3 Apr 2020

Firstly, and most importantly, the wellbeing of all is foremost in our minds and we sincerely hope for a quick resolution to the awful crisis that is engulfing the world, and a reversion to normality without too much more hardship or suffering.

Stock markets are always the first and most obvious financial indicator when things go awry.   When uncertainty leads to pessimism, (and ultimately fear), market pricing dislocates, as it has in the last month.  This dislocation is amplified by the very mechanics of markets, where computer systems, short selling and algorithms drive volatility indiscriminately.  This period of significant volatility should be relatively short lived, but significant uncertainties remain, such that we expect further bouts of sharp price movements in the coming months.

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