This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened 

The news couldn’t have been much worse for Bitcoin (CRYPTO: BTC) and cryptocurrencies today. inflation in the U.S. came in higher than expected at 0.1% last month, with core inflation up 0.6%. This was despite investors thinking that inflation may be slowing, which could have opened the door to the Federal Reserve slowing its pace of interest rate increases. 

Shares of Bitcoin-related stocks were trading near their daily lows at 3 p.m. ET. Riot Blockchain (NASDAQ: RIOT) was down as much as 9.8%, Bitfarms (NASDAQ: BITF) had fallen 10.6%, Marathon Digital (NASDAQ: MARA) dropped 10.9%, HIVE Blockchain Technologies (NASDAQ: HIVE) declined 11.3%, and Hut 8 Mining (NASDAQ: HUT) fell as much as 14.6%.

So what 

Bitcoin is down 9.9% as I’m writing to $20,245, which seems bad, but the cryptocurrency is still up 7.4% over the past week. But when Bitcoin drops rapidly, it can often cause Bitcoin mining and related stocks to drop dramatically as well. This happens for two reasons. 

First, Bitcoin miners are generating Bitcoin as revenue, so when the value of Bitcoin drops, their revenue effectively does as well. Second, these companies often hold significant Bitcoin reserves on their balance sheets, so a drop in Bitcoin actually means a loss in value on the balance sheet as well. 

As all of this is happening, Ethereum (CRYPTO: ETH) is moving quickly toward The Merge in the next day or so, which will give the cryptocurrency significant advantages over Bitcoin. The Ethereum blockchain won’t be as energy intensive as Bitcoin’s and has the smart contract capability that Bitcoin can’t compete with. There are a lot of investors who think this will shift value from Bitcoin to Ethereum. 

We have already seen miners on Ethereum’s proof-of-work blockchain suffer because they’ll have no work to do after The Merge’s move to proof of stake. That’s the macro trend of all cryptocurrencies, and Bitcoin doesn’t have an answer to lower energy usage right now. 

Now what 

Bitcoin, in particular, was supposed to be a hedge against inflation. But that hasn’t been the case for at least a year now, and the cryptocurrency trades more like a speculative asset than an inflation hedge. 

What I would be worried about for Bitcoin miners is a continued decline in Bitcoin’s price after The Merge. Ethereum is a compelling alternative with much more functionality as a form of payment and innovation than Bitcoin. And with the focus on energy usage and environmental impact across the technology industry, the more than 99% reduction in energy usage after The Merge will be compelling. 

I don’t think Bitcoin miners have a great business model in today’s market, and that’s what keeping me out of these stocks. They’re mainly playing arbitrage against the price of Bitcoin and the cost of mining a Bitcoin. If that arbitrage goes to zero, the entire business model falls apart quickly and once-solid balance sheets could become a liability. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Bitcoin plunged on Tuesday appeared first on The Motley Fool Australia.

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• Why Bitcoin and Solana jumped on Monday
• Can the Bitcoin price reach US$1 million?
• Will the Ethereum price continue to outperform in 2022 post Merge? Expert panel weighs in

Travis Hoium has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Santos Ltd (ASX: STO) is currently trading less than 2% in the red at $7.73 apiece, despite no market-sensitive news today.

That is, however, a far better result in early trade on Wednesday than the bolus of the ASX, following hotter than expected inflation data from the US overnight.

In fact, utilities and energy are currently the best performing sectors of the day, even though benchmarks for each are currently in the red.

The S&P/ASX 200 Utilities Index (ASX: XUJ) is down around 170 basis points whereas the S&P/ASX 200 Energy Index (ASX: XEJ) has slipped to 185 basis points in the red.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is down nearly 3% on the day.

What’s up with the Santos share price?

Whilst many of its ASX peers have incurred double-digit losses today, Santos has remained relatively stable from the open.

There are numerous reasons why this could be. The main sticking point, however, comes when analysing the US inflation data itself, in a bit closer detail.

Whilst the core CPI measure backs out things like food and fuel prices at the bowser, the headline inflation number records all goods and services.

Analysing both sets of numbers, and it shows consumers in the US – the world’s largest economy by gross domestic product (GDP) – saw some relief in gasoline prices.

However, this was offset by gains in electricity and natural gas, two segments that have remained persistently high in 2022, despite global efforts to bring inflation down.

This bodes well for energy players such as Santos, who would set to benefit from a sustained period of high energy prices set by the market.

CPI inflation was also recorded at 7.75% in Australia in the last reading, with Reserve Bank (RBA) Governor Phillip Lowe labelling the missed projection as “a very large” miss, vouching to cripple inflation with further rate increases.

The unexpectedly high inflation print gives central banks further ammunition to continue along the hiking trail in order to clip the rate of change in aggregate prices for consumers.

Allianz Investment Management said that “[i]t’s becoming more apparent to market participants that the amount of tightening from the Fed thus far has not been enough to cool the economy and bring down inflation,” in a recent note.

In other words, expect more increases in policy interest rates to come.

It is this point that serves as a solid bedrock for ASX energy shares like Santos to rally once more, as they first did amid the first hiking cycle back in January of this year.

The pattern could very well occur as investors exit risk assets en masse and reposition into more defensive asset classes, in what’s known as a ‘flight to quality’.

We’ve seen as much in the performance of the US Dollar and Brent Crude oil this year, coupled with the strikingly poor performance of equities.

Nevertheless, the Santos share price remains up 22% for the year to date.

The post Why is the Santos share price escaping relatively unscathed today? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday
• Santos share price dips amid sell-off rumours
• 5 things to watch on the ASX 200 on Monday
• Here’s why the ASX 200 could be set up for an almighty rally before the end of this horrible year for stocks
• Here’s why ASX 200 energy shares are diving lower today

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Arafura Resources Limited (ASX: ARU) share price is fighting back after plunging in early trade this morning.

Shares in the rare earth minerals explorer were down by as much as 7% this morning. At the time of writing, they have clawed back to 36.5 cents each, 2.67% lower than yesterday’s closing price.

Let’s find out why the Arafura Resources share price is in the red.

Why are Arafura Resources shares dropping?

There are a number of factors driving the weakness in the Arafura Resources share price today.

The ASX market is suffering from a brutal sell-off across Wall Street overnight after worse-than-expected news on inflation.

At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has plunged 2.72%. A heavy fog of pessimism has overcome the markets as the US consumer price index (CPI) came in at higher levels than forecast. The core CPI, which excludes volatile food and energy prices, rose 0.6% in August.

Arafura Resources operates in the materials sector, which is also down 2.23% at the time of writing.

The rare earth minerals explorer is still in the exploration stage, so the current macroeconomic events don’t directly affect its top line. However, it does increase overall operational costs for the business.

The main rare earth minerals that Arafura Resources is attempting to extract include neodymium and praseodymium products. These form part NdFeB magnets, which help make everyday items like wind turbines, robots, and electrical vehicles become smaller, lighter, mobile, and more affordable.

The acceleration in the shift towards renewable energy resources could help it fend off negative macroeconomic factors.

Arafura Resources share price snapshot

In the last year, Arafura Resources shares rose by 135% and momentum remains strong with a jump of 30% in the past month.

This compares to the ASX 200’s 8.4% loss in the past year and almost 4% drop over the last month.

The market capitalisation of Arafura Resources is around $629 million.

The post The Arafura Resources share price is down 7% this morning appeared first on The Motley Fool Australia.

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• Why investors might be getting excited about Arafura shares
• Arafura defies sell-off in ASX mining shares to stay buoyant. Is this why?
• 3 ASX mining shares that rocketed more than 15% on Monday
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• Why is the Arafura share price surging 10% on Monday?

Motley Fool contributor Raymond Jang has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Wesfarmers Ltd (ASX: WES) share price is falling with the market on Wednesday.

At the time of writing, the conglomerate’s shares are down 4% to $46.60.

What’s going on with the Wesfarmers share price?

Investors have been selling down the Wesfarmers share price today amid a broad market selloff which has seen the ASX 200 index drop 2.7%.

The catalyst for this was a surprisingly hot inflation reading in the United States. While many in the market were expecting inflation to cool in August, it actually increased month over month.

This has led to fears that the US Federal Reserve will be forced to make more aggressive rate increases to tame inflation, putting the United States and the global economy at risk of falling into a recession.

One thing that investors don’t like is uncertainty. And with the market swimming in it at the moment, it isn’t overly surprising to see many investors heading to the exits.

Is this a buying opportunity?

One broker that may see the Wesfarmers share price weakness as a buying opportunity is Morgans. It recently named the company among its best ideas list for September. It commented:

WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While COVID-related staff shortages are proving to be a challenge, the core Bunnings division (>60% of group EBIT) remains a solid performer as consumers continue to invest in their homes. We see the pullback in the share price as a good entry point for longer term investors.

Morgans has an add rating and $55.60 price target on the company’s shares.

The post Wesfarmers share price drops 4%: Time to buy? appeared first on The Motley Fool Australia.

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• Why this top broker is tipping 15% upside for the Wesfarmers share price
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• Could these ‘little’ businesses be a secret weapon for Wesfarmers shares?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Woodside Energy Group Ltd (ASX: WDS) share price is in the red in early trading today, but it’s outperforming the S&P/ASX 200 Index (ASX: XJO).

Despite the ASX suffering a meltdown this morning, the Woodside share price along with the energy sector is faring better than the broader ASX 200 index. The Woodside share price is down 1.89% while the energy sector has fallen 2.04%, compared to the current 2.61% downturn across the ASX 200.

This halts Woodside’s strong momentum this year after recording sound results for the half-year FY22.

Let’s find out what’s triggering the fall in Woodside shares today.

US inflation exceeds initial expectations

The United States consumer price index (CPI) rose 0.1% from July and the Bureau of Labor Statistics’ monthly cost of living survey revealed prices were 8.3% higher last month compared to August last year. This was still lower than the increases of 8.5% in July and 9.1% in June.

Despite the slight slowdown in the rise of prices, it was enough to trigger a significant sell-off on Wall Street, which suffered its worst drop since June 2020.

Gas prices continued their downward trend, recording 13 weeks of consistent drops. This helped soften the overall surge in the CPI as petrol prices fell 10.6% in August. However, food costs jumped 11.4% and electricity prices surged 15.8% compared to a year ago.

The continual fall in gas prices does not bode well for the Woodside share price as this will eat into its margins. However, the Organisation of Petroleum Exporting Countries expects demand for oil to top the pre-pandemic level in 2023.

So, Woodside could potentially make up for the price drops with a higher volume of exports.

Woodside share price snapshot

In the last year, the Woodside share price has climbed by 56% but this has slowed in the last six months, increasing by just 2%. In contrast, the ASX 200 has declined 6% across the last year and fallen by 2% in the past six months.

The current market capitalisation of Woodside is around $62.9 billion.

Woodside shares are currently trading at a price-to-earnings (P/E) multiple of around seven times.

The post Why is the Woodside share price faring better than the ASX 200 today? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Wednesday
• Up 50% so far this year, is it too late to buy Woodside shares?
• 5 things to watch on the ASX 200 on Monday
• Here’s why the ASX 200 could be set up for an almighty rally before the end of this horrible year for stocks
• The Woodside share price is trading near multi-year highs. Will the green energy transition spoil the party?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Sayona Mining Ltd (ASX: SYA) share price is on the move in early trade on Wednesday with no news.

At the time of writing, shares in the lithium-focused metals explorer are swapping hands 5.63% lower at 33.5 cents apiece.

What’s up with the Sayona Mining share price?

Whilst there’s been nothing price sensitive out of Sayona’s camp this morning, a broad sell-off in US stocks overnight, following higher than expected inflation data, has pulled through to the Australian session.

An impulse of risk-off sentiment is being felt across all ASX sectors today following the readouts, which saw core CPI above forecasts, but headline inflation falling within the projected range.

With the hot-running inflation still a priority, the CPI print implies we are in for more interest rate hikes as central banks look to tackle the inflation issue.

The result saw the collective US market’s biggest 1-day drop since June 2020 – a move seen right in the midst of the Coronavirus pandemic.

“The Fed has increased [rates] by a full 3 percentage points in the last 6 months…We have not yet felt the full impact of all those increases,” Paul Nolte of Kingsview Asset Management said in a note to clients.

“But we will” he added. “We are at a recession’s Doorstep”.

The downside has already been realised from the opening bell on Wednesday here on the ASX, with shares like Sayona Mining taking a hit from the get-go.

Trading volume in Sayona has already crept past 31% of the 4-week average of 80.66 million shares, and the price action is bearish for the share in early trade this morning.

Checking a heat map of the Australian benchmark indices, there’s an abundance of red, suggesting it’s going to be a tough day for Aussie markets.

The Sayona Mining share price is up 158% this year to date.

The post Why is the Sayona Mining share price tumbling 6% on Wednesday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Zip Co Ltd (ASX: ZIP) share price is plunging alongside the broader market on Wednesday.

The S&P/ASX 200 Index (ASX: XJO) tech favourite is following its peers into the red after a disastrous session on Wall Street overnight.

Right now, the Zip share price is 87.2 cents, 6.74% lower than its previous close.

Meanwhile, the ASX 200 has dumped 2.61% and the S&P/ASX 200 Information Technology Index (ASX: XIJ) – from which Zip often takes its cues – is down 3.74%.

Let’s take a closer look at what’s going wrong for the ASX 200 buy now, pay later (BNPL) stock today.

What’s weighing on the Zip share price today?

The Zip share price is suffering amid a major sell-off event on Wednesday after inflation data sent Wall Street spiralling overnight.

Data released on Tuesday found the United States’ consumer price index (CPI) lifted 0.1% in August despite expectations it would fall. It has risen 8.3% over the last 12 months.

That drove Wall Street to record its worst session in more than two years, with the Dow Jones Industrial Average Index (DJX: .DJI) falling 3.94% and the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) plummeting 5.16%.

As readers can see, news of still-rising inflation appears to have hit tech stocks harder than most.

That’s likely because tech shares are generally more yield sensitive and growth focused while higher inflation often increases the cost of borrowing — as interest rate hikes are employed to tame the measure – and reduce the value of future cash flow.

Both outcomes are bad news for growing tech companies. Particularly, those that are still unprofitable, such as Zip.

Joining the Zip share price in the red today is the owner of its former ASX-listed peer Afterpay, Block Inc (ASX: SQ2). Stock in the payment provider has tumbled 5.26% at the time of writing.

Only one ASX 200 tech share is holding a gain today. That is Computershare Ltd (ASX: CPU), currently up 0.08% after earlier jumping 1.9% in early trading. Experts have previously tipped the company as an inflation hedge, as my Fool colleague Tony Yoo reports.

The post Why is the Zip share price plummeting 7% on Wall Street woes appeared first on The Motley Fool Australia.

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• Why are ASX 200 shares tumbling like dominos on Wednesday?
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The market may be a sea of red on Wednesday but that hasn’t stopped the Peter Warren Automotive Holdings Ltd (ASX: PWR) share price from racing higher today.

In morning trade, the car dealership company’s shares are up 12% to $2.82.

This compares very favourably to the All Ordinaries index, which is down a disappointing 2.7% this morning.

Why is the Peter Warren Automotive share price defying the selloff?

Investors have been bidding the Peter Warren Automotive share price higher today after the company revealed that it has a new major shareholder.

According to an initial substantial holder notice, SMA Motors picked up ~15.7 million Peter Warren Automotive shares from Quadrant Private Equity for $50 million on Tuesday.

SMA Motors paid an average of approximately $3.19 per share for the stake, which represents a sizeable 25.6% premium to where the Peter Warren Automotive share price was trading at yesterday’s close.

Someone was clearly very keen to get a slice of Peter Warren Automotive!

What is SMA Motors?

SMA Motors is the name behind Sutton Motors, which is one of Sydney’s largest dealer groups. It operates 24 franchised motor vehicle dealership sites, covering 27 different franchises.

Why it bought the 15.7 million stake from Quadrant Private Equity remains unclear. But investors may be hoping that this leads to a full takeover approach in the near future. Time will tell if that is the case.

Following today’s gain, the Peter Warren Automotive share price is trading largely flat year to date.

The post In a sea of red, guess which ASX All Ords share is booming 12% today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The a2 Milk Company (ASX: A2M) share price has jumped almost 30% higher in the last six weeks after reporting a solid FY22 result with revenue and earnings approximately 5% ahead of consensus expectations.

Leading fund manager Perpetual Equity Investment Company (ASX: PIC) continues to see “material upside” to the current a2M share price.

In the listed investment company’s August update, it said the most pleasing aspect of the a2M result was the strong growth of the China Label infant formula business. The listed investment company (LIC) noted this is a highly competitive channel and despite the industry headwinds from a significantly lower birth rate in China, a2M’s infant formula business in China grew its revenue by 40%. 

According to the update:

A2M is one of the only international brands to deliver growth during this period. The fact that A2M sales responded so strongly to in-country marketing demonstrates the strength of the brand which is a core pillar of the Manager’s investment thesis.

The fund manager believes the current management team is doing an excellent job “transforming A2M into a sustainable business for the long term by increasing marketing and shifting volumes away from the volatile Daigou distribution channel”.

It notes the strong balance sheet with no debt and over $NZ800m of net cash, enabling a2 Milk to launch a $NZ150m share buyback program. 

The fund manager does note the company is currently in the process of renewing its China Label product registration, saying it has reflected this risk in the size of the position within the portfolio. As at 31 August 2022, A2M comprised 3.1% of the PIC portfolio.

This aside, PIC said it continues to see material upside to a2M’s current share price.

In early Wednesday trading, a2 Milk shares are tracking the ASX 200 lower, down 14 cents to $5.55 each. The a2 Milk share price trades on a trailing price-to-earnings (P/E) ratio of 34 times earnings. 

The post Leading fund manager sees “material upside” to the a2 Milk share price appeared first on The Motley Fool Australia.

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• Broker says the A2 Milk share price can charge even higher
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• Why A2 Milk, Life360, Nine, and Ramsay shares are dropping

Motley Fool contributor Bruce Jackson has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Novonix Ltd (ASX: NVX) share price is on the back foot in Wednesday morning trade.

Amid a massacre on the market, shares in the battery technology company are trading 7.82% lower to $2.24. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is taking a bath, sporting a 2.7% decline in the early hours.

Without a shred of developments from Novonix directly today, we must turn to the bigger picture.

Inflation data brings more pain

The reality is the Novonix share price is not alone on a day like today. To paint the picture of the bleak sentiment on Wednesday, only three ASX shares out of the 200 are not in the negative.

It’s fair to say that investors are selling across the board following the release of the latest consumer price index (CPI) data in the United States overnight. According to the data, the index increased 0.1% month on month, bringing the increase over the last year to 8.3%.

Unfortunately, market pundits were forecasting a relief from inflation growth. Heading into the announcement, the general expectation was for a 0.1% decline month on month. In turn, the US market — including Nasdaq-listed Novonix share price — took the foot off the gas last night.

At the time of writing, ASX tech shares are feeling the sharp sting of inflation the most. While there isn’t a single sector in the green, the tech segment is bleeding a horrific 3.47% so far today.

When it comes to the likes of Novonix shares, investors tend to become extra cautious of unprofitable companies in light of high inflation data. This reaction is due to the high likelihood of further interest rate increases by central banks to stifle inflation.

Market expectations for Fed Rate Hikes after today’s CPI report…
September: 75 bps hike to 3.00-3.25%
November: 75 bps hike to 3.75-4.00%
December: 25 bps hike to 4.00-4.25%

Change from yesterday: 25 bps upward shift, with November moving from 50 bps hike to 75 bps hike.

— Charlie Bilello (@charliebilello) September 13, 2022

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As shown above, bond markets are now pricing in more dramatic rate increases over future months. As a result, investors will be less inclined to invest in riskier assets if cash rates are attractive.

Where has the Novonix share price been?

Today’s tumble in the Novonix share price only adds to what has been a difficult year. The theme of rising rates and cost of capital has hit the battery technology company like a wrecking ball.

Since the beginning of 2022, Nonovix shares have experienced a 75.6% ride to the downside. Remarkably, in the past year, the company once traded as high as $12.47 — now a distant memory.

The post Novonix share price sinks 7% amid Wall Street walloping appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price soaring 7% on Tuesday?
• Who owns shares in ASX tech company Novonix right now?
• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price soaring 11% today?

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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