Question: Please indicate whether I (as a subscriber) can access any share analysis on your Switzer Report.

Apart from your Portfolios, it seems your advice is qualitative or secondary (‘what the brokers say’). Perhaps you lean more to the macro perspective?

Answer (by Paul Rickard): We don’t provide an exhaustive analysis of individual shares. We feel that most of these published reports or website stock coverage is stale, formulaic and of low insight.

When we like a stock, or see a strong theme, we identify individual stocks. For example, Tony Featherstone has identified in today’s Switzer Super Report six stocks that he thinks will benefit from the growing renter market. Charlie Aitken has discussed the switch back into growth cyclicals, and identifies Treasury Wine Estates and Aristocrat Leisure.

If you want to look at our last comments on an individual stock, go to the website and search under the stock code.

Question: Is WAM Capital Ltd a good buy considering the F16 results?

• Capital profit increased to 85.7%
• A fully franked full year dividend of 14.5 cents per share giving a 6.3% dividend yield.

Answer (by Paul Rickard): WAM Capital has delivered extraordinary results for its shareholders.

There aren’t too many listed investment companies that can cite the performance record they have. Consistent outperformance compared to their benchmark.

It is, however, trading at a premium to its net tangible assets (NTA) – in the order of 12% to 14% (WAM takes a while to update their NTA).

Would I buy it at the moment? Not with this premium.

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.