News2017-12-17T01:36:45+00:00

Geldzug: AUSTRALIAN BANKS: WHERE’S THE GROWTH?

28 May 2021 The ANZ, NAB and WBC results for the March half-year demonstrated comfortable provisioning, strong balance sheets, improving margins, and prudent funding. What was missing was organic growth. The banks’ loan write-downs in the next two years will be less than the provisions they made last year, but provision write-backs are no substitute for growth. We continue to [...]

By |June 3rd, 2021|Categories: Uncategorized|Comments Off on Geldzug: AUSTRALIAN BANKS: WHERE’S THE GROWTH?

Geldzug: WARNINGS FROM THE MOST SUCCESSFUL BANK CEO

26 April 2021 On several occasions Arminius has outlined the difficult competitive landscape which Australia’s big four banks have had to face since the GFC. Just recently, the most successful bank CEO of the last two decades has given us an update on the main competitive threats to the industry... [read more]

By |April 25th, 2021|Categories: Uncategorized|Comments Off on Geldzug: WARNINGS FROM THE MOST SUCCESSFUL BANK CEO

Geldzug: INFLATION PREPARATION – OLD IS NEW AGAIN

23 April 2021 Back when coins were originally made out of an alloy of silver and gold it was uncommon but not impossible to debase one’s currency. The death penalty as a consequence of currency debasement seemed to inhibit the practice. The Lydian Empire in 700 BC (before they fell to the Persians) lays claim to inventing “coinage”. Once the [...]

By |April 22nd, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: INFLATION PREPARATION – OLD IS NEW AGAIN

Geldzug: THE AUSTRALIAN FEBRUARY 2021 REPORTING SEASON

28 February 2021 Twice a year we summarise the half-year and full-year results of the companies in the ALCE portfolio. Most of the companies in the portfolio reported strong earnings recoveries in the December half-year, and dividend payouts were higher than our forecasts... [read more]

By |March 1st, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: THE AUSTRALIAN FEBRUARY 2021 REPORTING SEASON

Geldzug: CHINA’S 14th FIVE YEAR PLAN

25 February 2021 China’s top leaders have set out their top priorities for 2021 to 2025: achieving self-reliance in science and technology, and “dual circulation”. Self-reliance in science and technology means accelerating the development of vital high-tech industries such as semiconductors to ensure that China can develop regardless of US “threats”. Dual circulation means encouraging production for domestic markets as [...]

By |March 1st, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: CHINA’S 14th FIVE YEAR PLAN

Geldzug: CHINA IS NOT GOING TO SAVE THE WORLD THIS TIME

4 February 2021 In November 2008 a panicked Chinese government launched a stimulus package equivalent to 12% of then GDP. The package propelled China out of the GFC, but it created more problems than it solved, e.g.: A tenfold increase in corruption Useless or non-economic projects: “bridges to nowhere” A surge in banks’ bad loans A sharp increase in the [...]

By |February 4th, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: CHINA IS NOT GOING TO SAVE THE WORLD THIS TIME

 4,851 ,  3 views today

Go to Top