Tag: Motley Fool

The ResMed Inc (ASX: RMD) share price will be one to watch on Friday.

This follows the release of the sleep treatment focused medical device company’s third quarter update.

ResMed share price on watch after earnings miss

• Revenue up 12% (14% in constant currency) to US$864.5 million
• Gross margin down 150 basis points to 58.1%
• Operating income up 5% to US$234.3 million
• Earnings per share up 2% to US$1.32

What happened during the quarter?

For the three months ended 31 March, ResMed reported a 12% increase in revenue to US$864.5 million and a 2% lift in earnings per share to US$1.32. This fell short of consensus estimates by US$35.5 million and 12 US cents, respectively.

According to the release, ResMed’s top line growth was driven by increased demand for its sleep and respiratory care devices and increased demand in response to a recent product recall by one of its competitors.

Revenue in the U.S., Canada, and Latin America, excluding software-as-a-service, grew by 18% during the quarter. It was a similar story overseas, with the company reporting an 11% increase in revenue in Europe, Asia, and other markets.

ResMed’s software-as-a-service revenue increased by 8% during the three months. This was due to continued growth in its Durable Medical Equipment category and stabilising patient flow in out-of-hospital care settings.

However, offsetting much of this top line growth was a 150 basis point contraction in ResMed’s gross margin. This was mainly due to higher freight and manufacturing costs, which were partially offset by favourable product mix changes and increase in average selling prices.

In addition, the company’s operating expenses grew quicker than revenue during the period. This was mainly due to higher employee-related expenses. This ultimately led to operating income rising just 5% and earnings per share increasing a modest 2% for the period.

Management commentary

ResMed’s CEO, Mick Farrell, commented:

“Our third-quarter results reflect strong performance across our business, resulting in double-digit top-line revenue growth including extraordinary demand in our sleep and respiratory care business segment as well as solid high-single-digit growth in our software-as-a-service segment.

“I am proud of our global team’s ability to pivot and drive continued growth while ongoing supply chain disruptions and a competitor’s recall continue to limit our ability to meet the incredible demand for our products. We remain focused on delivering products, software, and services for patients, working closely with our supply chain partners as well as physicians, providers, and beyond, to prioritize care for patients who most need it.

“While the current industry and macroeconomic environment remain uncertain, our long-term strategy allows us to keep our focus on helping 250 million lives in 2025. Our end-market demand from patients and providers remains strong, and our digital health technologies continue to deliver value. We are supporting patients with the world-leading portfolio of sleep apnea therapy, respiratory care therapy, and digital health solutions they need, as we deliver value for all of our customers.”

The post ResMed share price on watch after Q3 revenue and earnings miss appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Analysts name 2 ASX 200 healthcare shares to buy
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• 2 blue chip ASX 200 shares analysts rate as buys this month

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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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On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and raced higher. The benchmark index rose 1.3% to 7,356.9 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note following a very strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% higher this morning. In the US, the Dow Jones rose 1.85%, the S&P 500 climbed 2.5%, and the Nasdaq stormed 3.1% higher.

Oil prices race higher

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a great finish to the week after oil prices raced higher. According to Bloomberg, the WTI crude oil price is up 3.2% to US$105.32 a barrel and the Brent crude oil price is up 2.1% to US$107.56 a barrel.

ResMed quarterly update

The ResMed Inc (ASX: RMD) share price will be one to watch on Friday following the release of the sleep treatment company’s quarterly update. ResMed reported a 12% increase in revenue to US$864.5 million and a 5% lift in operating income to US$234.3 million. The latter was impacted by a 150 basis point contraction in its gross margin due to higher freight and manufacturing costs.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,896.4 an ounce. The precious metal bounced back after hitting a two month low yesterday.

Fortescue rated as a sell

The Fortescue Metals Group Limited (ASX: FMG) share price could be heading lower according to analysts at Goldman Sachs. This morning the broker responded to the mining giant’s quarterly update by retaining its sell rating and cutting its price target to $14.90. Goldman continues to believe that its shares are overvalued compared to peers and sees major risks from the Fortescue Future Industries business.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

More reading

• Analysts name 2 ASX 200 healthcare shares to buy
• Here are the top 10 ASX shares today
• Here’s why the St Barbara share price is trailing the ASX 200 today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why is the Woodside share price in the spotlight on Thursday?

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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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There are a lot of exchange traded funds (ETFs) funds out there for investors to choose from.

If you’re looking at long term options, then you may want to look deeper into the three listed below. Here’s what you need to know about them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

Although Chinese technology shares have had a very tough year, which has weighed heavily on the BetaShares Asia Technology Tigers ETF, this could prove to be a very attractive buying opportunity for long term investors. Especially given the high quality companies included in this ETF. These include the likes of Alibaba, Baidu, JD.com, and Tencent, which are all exposed to Asia’s growing middle class.

BetaShares Crypto Innovators ETF (ASX: CRYP)

Another exciting ETF that could be a top long term option for investors is the BetaShares Crypto Innovators ETF. Whether you like cryptocurrencies or not, it is a trillion dollar industry and is unlikely to be going away in the future. This means that the companies supporting the industry, such as miners, mining equipment firms, and trading platforms, could be well-placed for growth over the long term. This ETF gives investors exposure to these companies (Coinbase, Silvergate, and Riot Blockchain etc) through a single investment. And while investing in these companies collectively may be lower risk than buying coins, it is still a high risk investment option.

BetaShares Global Cybersecurity ETF (ASX: HACK)

A final exciting ETF for investors to consider as a long term option is the BetaShares Global Cybersecurity ETF. BetaShares notes that worldwide spending on cybersecurity is predicted to increase to almost US$250 billion by 2023. This leaves the companies included in this fund, which are working to reduce the impact of cybercrime globally, well-positioned for growth in the future. These companies include leaders such as Accenture, Cisco, and Cloudflare, Crowdstrike, Okta, and Palo Alto Networks.

The post 3 top ETFs for ASX investors to buy and hold for 10 years appeared first on The Motley Fool Australia.

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• The Betashares Crypto Innovators ETF has dumped 23% in a month. Is it now a bargain?
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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 positions in and has recommended BETA CYBER ETF UNITS and Betashares Crypto Innovators ETF. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX coal shares finished ahead today amid India reportedly planning to step up coal imports.

Three major ASX coal shares include Whitehaven Coal Ltd (ASX: WHC), Yancoal Australia Ltd (ASX: YAL) and New Hope Corporation Limited (ASX: NHC).

The Whitehaven share price surged 6.9% today, Yancoal leapt 3.96% and New Hope rocketed 4.55%.

Let’s take a look at what weighed on ASX coal shares today.

Indian to import more coal

The Indian power minister has asked states to boost coal imports, Reuters reported. India is the next biggest coal exporter in the world after China. The country has 28 states and 8 union territories.

India wants to increase coal imports to boost coal inventories and meet demand for the commodity.

An official who attended a meeting between Indian power minister Raj Kumar Singh and the states told Reuters:

The states were asked to continue importing because the private sector will take till at least early 2025 to produce significant output

The coal price climbed 0.32% in global markets to US$326.05 per tonne, Trading Economics data shows. Amid the Russian sanctions on coal, some top consumers are looking to buy more from countries including Australia and South Africa.

Whitehaven recorded a record average coal price of $315 per tonne in the third quarter, up 211% from $101 in the prior corresponding period.

Share price summary

The Whitehaven share price has surged 304.9% in a year, while Yancoal has risen 156%. Meanwhile, New Hope shares have rocketed 200%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has increased 4.14% in the past year.

The post Why did ASX coal shares having such a stellar run on Thursday? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• How might the election outcome impact the outlook for ASX energy shares?
• Why is the Whitehaven share price accelerating 6% today
• Own ASX 200 energy shares? Here’s why Morgan Stanley says the oil price is set to surge
• Why are some ASX coal shares flaming out today?

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 Bruce Jackson.

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If you’re looking for exposure to the healthcare sector, then you may want to check out the two buy-rated shares listed below.

Here’s why analysts rate these ASX 200 healthcare shares as buys:

Pro Medicus Limited (ASX: PME)

The first ASX 200 healthcare share that is highly rated is Pro Medicus. It is a healthcare technology company that provides industry-leading software that facilitates the clinical assessment of medical images.

The team at Bell Potter is very positive on Pro Medicus due largely to its Visage 7 product.

It commented: “Visage 7 is the fastest, most versatile viewing software on the market and it is the key reason why Pro Medicus has been successful in winning numerous high profile hospital contracts in the US, ahead of some of the largest global names in the industry.”

And while the broker acknowledges that its shares remain “expensive”, it believes the company’s “prospective EPS growth is supportive of this large premium.” Particularly given how it has “barely scratched the surface of the IDN [Integrated Delivery Network] market in the US.”

Bell Potter currently has a buy rating and $55.00 price target on the company’s shares.

ResMed Inc. (ASX: RMD)

Another ASX 200 healthcare share that is highly rated is ResMed. It is a sleep treatment focused medical device company with a portfolio of cloud-connected products that transform care for people with sleep apnea, COPD, and other chronic diseases.

Analysts at Morgans are very positive on the company. They currently have an add rating and $40.46 price target on its shares.

Morgans commented: “While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”

The post Analysts name 2 ASX 200 healthcare shares to buy 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. owns and has recommended Cochlear Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The All Ordinaries Index (ASX: XAO) recovered from a disastrous 4-session, 4.3% tumble today, recording its first gain of the week with the help of these shares.

They each gained more than 10% today. Impressively, some have managed to chalk up the upwards move without uttering a single word of news.

The All Ordinaries Index gained 1.15% today.

Let’s take a look at what boosted these 3 stocks more than 10% higher.

3 ASX All Ordinaries shares recording massive gains

Stanmore Resources Ltd (ASX: SMR)

The Stanmore Resources share price recorded an 11.88% gain to close at $2.26 on Thursday. In fact, at its highest point, the coal miner’s shares were trading 16.3% higher than their previous close.

Interestingly, there’s been no news from the energy stock today. On top of that, the S&P/ASX 200 Energy Index (ASX: XEJ) recorded a modest rise of just 0.92%.

Though, its best performer was the Whitehaven Coal Ltd (ASX: WHC) share price.

Other coal producing shares, Yancoal Australia Ltd (ASX: YAL) and New Hope Corporation Limited (ASX: NHC) also recorded notable gains of between 4% and 6%.

The sector’s buoyancy on Thursday might have been due to reporting by Reuters. According to the publication, India has urged its states to increase coal imports in a bid to boost inventories.

The move would likely see already inflated coal prices increase further. That would likely be good news to coal producers’ bottom lines.

City Chic Collective Ltd (ASX: CCX)

Another ASX All Ordinaries share to silently record a gain of more than 10% on Thursday is City Chic.

The clothing retailer’s stock surged 10.22% to close at $3.02. The stock also soared 5.38% on Wednesday on the release of a positive trading update.

Over the 17 weeks between 27 December and 24 April, the company’s total sales increased 25% year-on-year.

AMP Ltd (ASX: AMP)

Finally, All Ordinaries giant, AMP, saw its share price rocket 12.68% on Thursday to $1.16 on the back of more divestment news.

The embattled financial services company announced that it’s found a buyer for the final leg of its Collimate Capital business.

DigitalBridge has agreed to pay up to $699 million for the international infrastructure equity business, $462 million of which will come in the form of an upfront cash payment to AMP.

The news came just a day after AMP announced that it was selling Collimate’s real estate and domestic infrastructure business to Dexus Property Group (ASX: DXS).

AMP is planning to use the funds from the sales to pay off its debt and conduct a capital return.

The post 3 ASX All Ordinaries shares that soared more than 10% today appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, Fortescue, Pilbara Minerals, and Sandfire shares are racing higher
• AMP share price surges 11% as $699m Collimate deal confirmed
• ASX 200 midday update: Coles, Fortescue, and Pilbara Minerals release quarterly updates

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 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 Bruce Jackson.

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There’s no doubt that the technology sector has been battered and bruised in recent times. This has led to former market darling ASX tech shares falling from their highs, with many now trading at multi-year lows.

Today, two companies with cashed-up balance sheets and sizeable revenue growth are cementing new lows. While low share prices alone are not a reason to buy, it can be a good prompt to take another look and reassess.

In saying that, here are a couple of ASX tech shares pushing lower again on Thursday.

These 2 ASX tech shares can’t catch a break

PointsBet Holdings Ltd (ASX: PBH)

This online bookmaker’s year just got even worse today, as the PointsBet share price moved another 1.3% lower. The disappointing outcome for shareholders means their holdings have diminished in value by 62% since the start of 2022.

Interestingly, the continued sell-off has played out as the company approaches the release of its third-quarter update tomorrow. No doubt investors will be looking to see whether this ASX tech share has turned around its rampant cash burning, or not.

Tyro Payments Ltd (ASX: TYR)

Payment solutions and point of sales terminal provider, Tyro Payments is another company losing some more of its fanfare today. By the closing bell, the Tyro share price finished up 5.3% lower to $1.17 — its lowest level since listing in 2019.

The pain for this ASX tech share has stayed with it throughout 2022, despite the company’s revenue bouncing back from COVID-19 pressures. In fact, the most recent trading update shows transaction value increasing 42% in April compared to 2021.

The post 2 quality ASX 300 tech shares trading at multi-year lows appeared first on The Motley Fool Australia.

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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 positions in and has recommended Pointsbet Holdings Ltd and Tyro Payments. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) broke free of the prevailing concern surrounding markets. At the end of the session, the benchmark index finished 1.32% higher at 7,356.9 points.

Surprisingly, nearly all sectors across the Aussie index pushed upwards today. The only area of the market struggling to get excited was communication shares, with most of the telcos showing up red. Meanwhile, miners rocked the market during the session amid broad optimism towards the sector following a positive outlook shared by Fortescue Metals Group Limited (ASX: FMG).

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, AMP Ltd (ASX: AMP) was the biggest gainer today. Shares in the financial services company posted a monumental 13.17% gain after announcing the sale of its international infrastructure equity business. Find out more about AMP here.

Finding the second-best spot on the list today was Sandfire Resources Ltd (ASX: SFR). The copper producer revelled in an 11.92% rise in its shares amid what the company described as a “transformational” quarter. Uncover the latest Sandfire Resources details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
AMP Ltd (ASX: AMP)	$1.16	13.17%
Sandfire Resources Ltd (ASX: SFR)	$5.82	11.92%
Stanmore Resources Ltd (ASX: SMR)	$2.25	11.39%
Fortescue Metals Group Ltd (ASX: FMG)	$21.73	8.11%
OZ Minerals Ltd (ASX: OZL)	$25.03	6.92%
Iluka Resources Ltd (ASX: ILU)	$11.22	6.15%
Whitehaven Coal Ltd (ASX: WHC)	$4.96	6.9%
Nickel Mines Ltd (ASX: NIC)	$1.225	6.06%
Contact Energy Ltd (ASX: CEN)	$7.58	4.99%
Mineral Resources Ltd (ASX: MIN)	$58.15	4.79%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, Fortescue, Pilbara Minerals, and Sandfire shares are racing higher
• Sandfire share price shoots 12% higher on ‘transformational’ quarter
• Why is the Woolworths share price missing out on the ASX party today?
• AMP share price surges 11% as $699m Collimate deal confirmed

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 Bruce Jackson.

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Shares of Whispir Ltd (ASX: WSP) headed south on Thursday and were trading 14.9% lower at $1.25 apiece at the close of trade.

The Whispir share price ran deeper into the red through the session, gliding off its intraday high of $1.49 from the start of the trading day.

Zooming out, it’s been a difficult year for the tech company. Shares have suffered heavy losses in the last 12 months, and the downside has extended well into 2022.

What was up with the Whispir share price today?

Investors were bidding down the price of Whispir shares after the company released its activities and cash flow report for the three months ending 31 March 2022.

In its report, annualised recurring revenue (ARR) was up 24.1% year on year to $62.4 million and free cash outflows settled at $5.6 million.

Whispir also added another 82 customers for the period, which supported an 82% gain in cash receipts year on year to almost $20 million.

The company noted it was on track to meet FY22 guidance of $68 million at the upper end.

However, investors don’t appear to have carried the joy through to today’s session, with trading volume occurring at more than six times the 4-week average, all while the share price tracked down.

Meanwhile, the S&P/ASX All Technology Index (ASX: XTX) was also tracking lower today and is sitting 17 basis points down at 2,269.

Whilst it shrugged off sector weakness yesterday, it doesn’t appear to have been the same in today’s session for Whispir.

Over the last three months, the Whispir share price has trailed the broader tech sector, as seen below.

With no market-sensitive information released by Whispir today, it appears investors were selling down the Whispir share price with authority in line with sector weakness and amid the release of its quarterly earnings yesterday.

Whispir share price snapshot

In the last 12 months, the Whispir share price has faltered more than 63% and is now down 41% for the year to date.

Across all time frames, Whispir shares are in the red.

The post Whispir share price wisped down an untasty 15% on Thursday appeared first on The Motley Fool Australia.

More reading

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• Whispir share price avoids tech selloff and pushes higher amid strong quarterly update
• 2 exciting small cap ASX shares to watch
• What’s up with the Whispir share price today?
• 3 exciting small cap ASX shares for your watchlist

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 positions in and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Nearmap Ltd (ASX: NEA) share price treaded lower on Thursday despite the company releasing a positive update to the ASX.

At market close, the aerial imagery specialist’s shares finished 1.63% in the red at $1.205.

What did Nearmap announce?

Investors appeared unfazed by the company’s latest release, sending the Nearmap share price lower.

In today’s statement, Nearmap announced that it has successfully completed the research and testing phase for its new proprietary aerial camera system, HyperCamera3.

The next-generation technology is expected to deliver a number of advantages over its previous model, HyperCamera2. This includes faster captures with wider reach, more detailed imagery, additional perspectives and better 3D models, as well as new artificial intelligence capability.

Nearmap advised that the upgraded aerial imagery system resulted in several technology breakthroughs, which are expected to come under a portfolio of patents.

Production of the HyperCamera3 has commenced and is on track to be rolled out in both Australia and North America this year.

The company expected demand to increase for high-resolution, high-frequency aerial imagery captures from aeroplanes.

Nearmap managing director and CEO, Dr Rob Newman commented:

For over a decade, Nearmap has developed the most efficient and accurate aerial camera systems in the world. We’re proud of being a world-leading technology company, homegrown in Australia, that continues to drive global innovation in the $60 billion location intelligence market.

The next generation of our aerial camera system will enable Nearmap to expand the scale and reach of our coverage and will offer new mapping and artificial intelligence products across North America, Australia, and New Zealand.

Nearmap share price summary

Nearmap has faced a turbulent couple of months, with its shares falling 22% for the calendar year.

Share price volatility aside, the company is projecting to achieve the upper range of its FY22 group annual contract value (ACV) of between $150 million to $160 million. This represents a potential increase of between 17% and 25% compared with the prior year of $128.2 million.

On valuation grounds, Nearmap commands a market capitalisation of roughly $601.38 million.

The post Nearmap shares track lower despite ‘new proprietary aerial camera system’ appeared first on The Motley Fool Australia.

More reading

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• Top ASX shares to buy in April 2022
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Motley Fool contributor Aaron Teboneras has positions in Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nearmap Ltd. The Motley Fool Australia has positions in and has recommended Nearmap Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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