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New NAB boss just like the old NAB boss

July 22, 2019 - 00:05 -- Admin

That is, he can’t do jack to fix the bank when the system itself is busted, via Jonathon Mott at UBS: The right banker for a very challenging outlook in Australia In many ways the banking environment in the UK is 3-5 years ahead of Australia, with: ultra-low interest rates; intense mortgage competition; Open Banking;

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Links 22 July 2019

July 22, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: Big Tech Claims It’s Not Choking Competitors, but Data Suggests Otherwise – Ad Week Who is Bernard Arnault? Louis Vuitton chief passes Bill Gates as world’s second-richest person – Yahoo The Overplayed, Turbohyped, and Underwhelming World of Artificial Intelligence – Institutional Investor GS, MS, JPM Traders Hit By Worst

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MB Fund powers to multiple top ten performances in 2018/19

July 20, 2019 - 06:33 -- Admin

Putting a portfolio together sometimes feels like catching waves: you position the portfolio for a number of themes, wait for the right wave to lift the performance, and then readjust your positioning for the next wave. The 2019 year to June was one such year with all of our tactical portfolios picking the right swell

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Weekend Reading: 20-21 July 2019

July 20, 2019 - 00:05 -- Admin

Global Macro / Markets / Investing: How Corporations Prevent Workers From Getting Ahead – Who What Why Netflix Stock May Never See $400 High’s Again – BP Rising Lidl’s Own Payment System To Challenge Apple And Google – Forbes Americas: The Numbers Are In, and Trump’s Tax Cuts Are a Bust – Truth Dig Report:

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Blood sucking capitalists fasten on international students

July 20, 2019 - 00:01 -- Admin

The extraordinary growth in international student numbers (see below chart) has led to accusations that Australia’s tertiary education providers are using them as “cash cows” to be milked for easy fees and profits: And it’s not hard to see why. As illustrated in the next chart from the NSW Auditor-General, fees from international students roughly

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Bust over but no boom ahead for house prices

July 19, 2019 - 14:30 -- Admin

Via Michael Janda at the ABC: The game is rigged and the fix is in. The east coast housing market downturn is over … at least for now. Don’t take my word for it. A veritable army of tipsters have called the bottom over recent weeks. They include property analysis firms SQM Research, Domain and CoreLogic, AMP

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The building backlash against God King Xi

July 19, 2019 - 14:15 -- Admin

Via the excellent Richard McGregor at CNN: The backlash abroad against President Xi Jinping’s China, at least in developed nations, has spread rapidly in the last year. Some countries, like Australia and Canada, feel patronized and bullied. Neighbors worry they are being marginalized. Advanced industrial nations, especially Germany and South Korea, see China coming at

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Vancouver house prices keep falling

July 19, 2019 - 14:00 -- Admin

The Teranet-National Bank House Price Index for June has been released, which shows that Canadian house prices rose by 0.8% across the 11 major markets, with annual growth falling to 0.5%: Across the three major markets, values fell by 0.3% in Vancouver in June, but rose by 1.3% in Toronto and by 0.8% in Montreal.

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The law comes calling for a dodgy CBA

July 19, 2019 - 13:45 -- Admin

Via Banking Day: Two closely related class actions will proceed against Commonwealth Bank over its alleged failure to comply with Anti-Money Laundering laws. Justice David Yates of the Federal Court of Australia in the last week has made “Cooperative Case Management” orders and largely dismissed concerns raised by the bank. The applicant in the Zonia

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Rack it and stack it cowboys create apartment crisis

July 19, 2019 - 13:30 -- Admin

NSW’s peak strata body warns that Sydney apartment owners are facing a $1 billion repair bill to replace dangerous flammable cladding and has called on taxpayers to pay. From The SMH: Mr Duggan estimated that $1 billion was “a more appropriate figure” to remedy the more than 600 buildings affected by combustible cladding. “Enough is

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