Telstra: The Leader of the Oligopoly

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It’s nice being on the top. An oligopoly is a market structure in where a few firms dominate the market. The telco industry generally exhibits the oligopoly market structure due to the capital and regulatory intensive nature of the industry. Businesses that operate in this industry can only be viable when they have achieved a certain level of economies of scale. Telstra operates as the leader of the telco oligopoly and this gives it a significant economic moat…

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Portfolio Update: Systematic Active Investing

Systematic active investing is a form of active investing that follows a set of rules. The change in my investment policy to using Joel Greenblatt’s Magic Formula is a form of systematic investing. What makes this active investing is that it aim to beat the market. System active investing is simple to implement however the real difficulty is in the psychological battle in following the system. This becomes especially the case when the market is outperforming your system in the short run…which is the case for my portfolio…

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Telstra: A Look into the Telco Giant

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We continue our investigation into Telstra the telco giant. Previous rant here. Today’s rant will focus on the different operating segments and product lines that Telstra has. Like any large corporation with a significant history, Telstra’s products and operating segments have changed over time so I will only be considering Telstra’s current structure as of FY16. While we are at it, we should probably look at their strategy as well…

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Telstra: Significant Economic Moat

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Telstra (TLS) is a household name in Australia. It is a provider of telecommunications (telco) and information products and services in Australia and offshore. In recent times it has revamped up it’s strategy with a bigger focus on its mobile and cloud storage solutions. In terms of Australian businesses there is little doubt that Telstra has a strong economic moat…

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Preparing for the Drive Home

Having my portfolio on auto pilot has freed up a lot of my time to do other things. Recently I’ve been thinking about the composition of my investments over the long term. Where you call home and plan to spend the rest of your days plays an important part in how you structure your portfolio. I have been thinking about my investments in the U.S. markets and the size of the exposure to my overall portfolio. I’ve been increasingly uncomfortable with managing the FX risk associated with it.. Continue Reading

Portfolio Update: Chilling in Taiwan

A really late post this month. I’ve been very busy with work and taking a bunch of holidays! I think it’s more exciting to talk about my adventures than my portfolio to be honest…This month I had two visitors from Sydney come stay at my place. On top of that I went to Vietnam and Taiwan!

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Portfolio Update: Magic Formula

A huge portfolio update this month! All the changes happened at the end of the month and to top it off I’ll be going on a two week holiday (already on it!). In the last rant I detailed changes to my investment policy and revealed that I will now be adopting the magic formula by Joel Greenblatt. With that I’m changing the format of these portfolio updates slightly. I will be removing the equity returns since inception graph since I don’t think it is particular useful. Also I will be shortening these posts focusing mainly on providing the numbers.

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