The Morrissey Exchange

Welcome to the 52nd episode of the Morrissey Exchange. 

In today’s edition we have invited back a previous guest, Mr Michael Leithead, the Head of Fixed Income and Portfolio Manager at EFG Asset Management to discuss the world of bonds, lending and debt at all levels of risk; from AAA to CCC. 

Is the US heading towards an existential crisis due to its staggering debt pile, will DOGE save them and where is the value in bonds both geographically and on the risk curve?

Welcome to the 51st episode of the Morrissey Exchange. 

In today’s edition we are seeking some guidance for navigating the current madness around the world and we’re lucky to have access to Mr Moz Afzal for the second time. Moz is both EFG Asset Management’s Senior Portfolo Manager (PM) and Global CIO.

EFG is a global private banking and asset management group headquartered in Zurich and listed on the Swiss Stock exchange. EFG operates in around 40 locations worldwide with 3000 employees, can boast for $260b FUM and Shaw & Partner’s global partner.  

The timing is perfect for this discussion as we can focus on what the new world looks like with the US under a new presidency.

Welcome to the 50th episode of the Morrissey Exchange. 

Imagine unlocking the secrets behind luxury investments. Our guest today, has a record that shows you can combine both an interest in luxury items and make money in the process.

Danny is both a former equities analyst and adviser to the crème de la crème of luxury brands. 

Together, we uncork the world of high-end collectibles, from the mysteries of successful wine investment to the craftsmanship of Swiss watches. Danny reveals a rich tapestry woven with psychology, scarcity, and the artistry of luxury goods; from toy Japanese robots to vintage Ferraris. His stories of investment success, both personal and otherwise, serve as a testament to this oft overlooked asset class.

We hope you enjoy listening to this discussion as much as we enjoyed making it.

Welcome to the 49th episode of the Morrissey Exchange.

In this first pod of 2024, we have a chat with Mr Hank Holland. 

Hank is the CEO of ASX listed Amaero International, a company tasked with manufacturing specialty metal powders used for the defence, aerospace and industrial manufacturing industries.

Listen in well because although initially complex this is a cracking business with an interesting story and a very simple economic outcome; demand exceeds supply. 

Tune in for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net

This is the 48th episode of the Morrissey Exchange.

We apologise for the radio silence since July and will endeavour to return with greater consistency in the New Year. 

In this pod we run through the significant events of 2023, our predictions from 12 months ago and the predictions for 2024.

Tune in fortnightly/monthly for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net.

This is our second discussion with Carbonxt CEO, Warren Murphy. CG1 recently announced a new joint venture with Kentucky Coal Processing (KCP) where KCP’s facility and coal will be used to create Granular Activated Carbon (GAC) utilising the CG1 AC technology.

Their target market is the highly lucrative treatment of US drinking water and removal of PFAS or per-and polyfluoroalkyl substances; otherwise known as forever chemicals.

Recent EPA regulation changes will require the removal of PFAS from drinking water and has created a growing market opportunity, currently estimated to be worth US$600m.

Tune in fortnightly/monthly for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net.

In a global economic environment where inflation has jumped with zeal, dragging interest rates along with it, the opportunity for justifiable exposure to fixed interest investments has emerged for the first time in a number of decades.

Australian Super’s CIO Mark Delaney recently commented that they hold an 18% exposure to bonds, up 70% on last year.

US Treasuries, Australian Treasuries, corporate bonds, hybrids, fixed (and floating) interest investments are ripe; its their time in the sun. This follows 2022, the single worst ever year for investing in US Treasuries since 1872.

This week we interview Mr Michael Leithead, Head of Fixed Income and Portfolio Manager at EFGAM.

Tune in fortnightly/monthly for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net.

Today we look more deeply into our fourth and final component of the asset allocation series; Equities.

The sharemarket has long proven a love affair for Australians. From pensioners, retirees and superannuants to amateur analysts, punters and professional investors. We love shares in this country. Where most countries around the world focus on a fuller asset allocation with equities representing a small component, Australia still has an overwhelmingly large representation of shares in investment portfolios.

This week, Ben Morrissey has a chat with Mr Leo Barry, fund manager with Fairview Equity Partners. Leo will take us through why he chose to manage equities as opposed to another asset class, valuation methodologies, sectoral performances and where the opportunities lie.

Tune in fortnightly/monthly for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net

In today’s pod we delve into our third component of the asset allocation series; cash and fixed interest.

Certainly not the sexiest of the four broad asset classes, but probably the one that provides investors with the greatest comfort; whether rightly or wrongly.

This week we’re joined by Cam Duncan, Co-Head of the Shaw and Partners Income strategies team. You may recall Cam from our discussion in November 2021 where we were discussing the pending interest rate move and inflation; which played out as discussed.

Today we discuss the asset class itself and its role in a well-diversified portfolio, different types of debt, global opportunities, the specific features of hybrids and the US Debt ceiling.

Tune in for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net 

We return to normal transmission this week as we continue reviewing the 4 broad asset classes generally available to investors and how they can be combined to form an investment portfolio. 

A few weeks ago we interviewed Natasha Nankivell, Partner and Founder of Global Alternative Funds who covered off on alternative investments.

This week Ben Morrissey has a chat with Steve Abbott; a property veteran, Managing Director of Jellis Craig Boroondara and Founder of property portal PropertyMate.

The main reason for focussing in on residential property is simple; it represents the majority of most Australians’ net wealth and let’s face it, everyone has an opinion on it and most Australians love discussing it.

Is it overpriced, cheap, which areas will grow the fastest, where are the growth corridors, where are the opportunities?

Tune in fortnightly/monthly for the latest economic commentary and ideas, and find more information on our website at www.morrisseygroup.net