Dear %%first_name%%,
I was quite comfortable with how last week ended. Although October is always a bit of a nasty month – and this one even more so! – it looks like things could be getting a bit steadier. I’m not silly enough to say we’re out of the woods yet, but today I point to the factors that suggest there are more reasons to be ever-so-slightly optimistic, than not.
Charlie Aitken is even getting a bit more positive – he says he’s now more neutral than Switzerland –he’s upgraded Oil Search and thinks the iron ore price might be close to a bottom – check out what he thinks in Shortlisted.
Also today, we have James Dunn with five great little travel companies to fly away on, Roger Montgomery explains how Challenger is going to do exceptionally well from cornering the annuities market, and Paul Rickard examines what’s going on with hybrids.
In Buy, Sell, Hold – what the brokers say, Lend Lease and James Hardie get upgraded and with Sydney and Melbourne property markets looking at fair value, we find out where the next big areas to grow will be.
Medibank Private’s prospectus was released this morning. Pitched at a multiple of between 16.5x and 21.3x – it is certainly no bargain. However, it’s the first privatisation of this government, so that means it’s worth considering pretty carefully. We will digest the numbers and give you our view on Thursday.
Sincerely,
Peter Switzer