Sunday, October 06, 2024
The official inflation figures measure price inflation for a sample basket of items across the whole urban population of Australia. But this is just an average. Inflation is different for everyone.
Today (25 October 2023) the latest inflation figures for Australia were released (for the September quarter). The news was mixed – quarterly inflation rose from 0.8% to 1.2%, but the annual rate (rolling 12 months) fell from 6.1% to 5.4%. Meanwhile the cash rate has been sitting at 4.1% since June, after twelve rate hikes.
Three quarter time score check: 2023 a low-scoring year, but most asset classes are positive and ahead of inflation.
Case study: CSL – growth superstar at a rare bargain, or over-priced mature low-growth behemoth?
Australian share market ‘Shiller/CAPE’ ratio – not over-priced like the US. Uncle Sam still calls the tune, but Australia is better placed for growth.
US market - ‘Shiller/CAPE’ ratio update: It’s flashing orange. . . but what action should we take?
Welcome to the Monthly Market Monitor for September 2023. Key developments affecting investment markets during the month included:
“Ashley’s unique fact-based analyses and insights into Australian and global markets are always worth reading. He has an incredibly deep and comprehensive store of financial markets data.”
Chris Cuffe, AO – One of Australia’s best known and most experienced investment managers – former CEO of industry giants Colonial First State, then Challenger Financial; founder and Chair of Australian Philanthropic Services, and Third Link Growth Fund; current/former chair, director and/or investment committee member of numerous funds including UniSuper, Argo Investments, Hearts and Minds Investments, Paul Ramsay Foundation, and many others. Read more.
“What sets Ashley Owen’s analysis apart from investment banks and the financial press is his deep fact-based understanding of long-term financial data, rather than getting caught up on the daily noise over issues that may generate trades or sell newspapers today, but will be irrelevant and misleading two years from now.”
Hugh Dive, CFA. Chief Investment Officer, Atlas Funds Management, and frequent expert commentator quoted in the AFR.
“Over the past 20 years, Ashley has been an invaluable assistance to me, as a reliable source of unbelievably strong and interesting data, and many good investment ideas.” "The depth and quality of Ashley’s research and analysis of investment markets is the best in the business.”
“Over the past 20 years, Ashley has been an invaluable assistance to me, as a reliable source of unbelievably strong and interesting data, and many good investment ideas.”
"The depth and quality of Ashley’s research and analysis of investment markets is the best in the business.”
Dr Don Stammer - Australia’s most respected economic writer, commentator, and speaker for the past 40 years, with a distinguished career including the Reserve Bank of Australia, Chief Economist at Deutsche Bank Australia for 21 years, chair of nine ASX companies, plus numerous non-listed and not-for-profit boards. Read more
‘For many years, Ashley has been my go-to source of information and analysis on what’s going on in financial markets and why.’
“Ashley has an encyclopaedic knowledge of the markets – I call him Mr Google!”
Noel Whittaker, AM – Australia’s best-known personal finance writer, columnist, and media commentator for the past three decades. He has written more than 20 books on personal finance, his columns appear in almost every major Australian newspaper, and he appears regularly on radio and TV as an expert on finance and investing. Noel Whittaker AM