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Lighthouse Investment Services

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25.01.2022 Howard Marks' memos are always worth a read. This latest one is particularly interesting for anyone wondering how to approach equity markets right now - whether to go "all in" or to sit on the sidelines until the clouds have cleared. Spoiler alert! "The bottom line for me is that I’m not at all troubled saying (a) markets may well be considerably lower sometime in the coming months and (b) we’re buying today when we find good value. I don’t find these statements inconsistent."

24.01.2022 Sadly I never got to witness the Dutch tulip mania first hand. But this Bitcoin hysteria is shaping up as a pretty good substitute. "Shares in Long Island Iced Tea Corp, a maker of soft drinks, leapt as much as 500 per cent on Thursday morning after it announced it was changing its name to Long Blockchain Corp. "The Nasdaq-listed company, which has never reported a profit and two weeks ago struck a distribution deal for cold-pressed juice, said it was 'shifting its primary corporate focus towards the exploration of an investment in opportunities that leverage the benefits of blockchain technology'."

24.01.2022 Always a treat to hear what Markel's Tom Gayner has to say. This episode of NPR's "Full Disclosure" is no exception.

22.01.2022 Charlie Munger, weeks after his 95th birthday, striking another blow for "basic morality and sturdy common sense" at the Daily Journal AGM. (First 5 minutes is the formal business of the meeting; the remaining 2 hours is Charlie.)

22.01.2022 Just because the government allows you to get early access to your super doesn't mean you should.

19.01.2022 Might this be the straw that breaks the back of the Australian residential property camel?

17.01.2022 Ad spotted on the London tube. Do something INTERESTING with your money. Property-backed bonds, not covered by the Financial Services Compensation Scheme, but you do get the 250 steak knife if you hand over >7,000. Investing should be like watching paint dry; not sky diving. Good luck!

17.01.2022 Maybe not a great omen. I’m reminded of Businessweek’s 1979 The Death of Equities cover, which served as the starter’s gun to the rampant 1980s bull market.

16.01.2022 Interesting episode of Background Briefing on binary options scammers. The money's gone even before you start "trading" these things. The scam happens when you try to get your money out.

12.01.2022 The last time I saw anything like this was in the late days of the dot com bubble when adding "E" or "I" to the start of a company's name and issuing a statement that it was "exploring online opportunities" could double or triple the price people were prepared to pay for its shares overnight. I can't think of too many of those businesses that are still around today.

09.01.2022 Interesting presentation by Hamish Douglass on the economic, financial and investment implications of COVID-19.

08.01.2022 Warren and Charlie's annual musings in Omaha are always worth a listen. The meeting itself starts at the 38 minute mark. Favourite quote from this year's meeting was in response to a question from Vlad in Ukraine on cryptocurrencies and why Warren thought it was a bubble (at 5h 15m). Warren spent some minutes damning crypto, and other unproductive assets, before Charlie chimed in: "Well, I like cryptocurrenies a lot less than you do. And so to me it's just dementia. And I think the people who are professional traders that go in to trading cryptocurrencies, it's just disgusting. It's like somebody else is trading turds and you decide, I can't be left out."

08.01.2022 Not a bad rate to borrow a billion euro at for five years.

06.01.2022 The Bill & Melinda Gates Foundation annual letter always makes for an interesting read. So too this year.

06.01.2022 I've been hearing a lot, and thinking a bit, about Bitcoin lately. Here are some thoughts.

05.01.2022 Not sure how 300 kWh of power to process a single transaction can be in any way sustainable.

05.01.2022 Australia's economy might not be so "dumb" after all, as CSL knocks off BHP as the most valuable company in the country.

04.01.2022 A useful introduction to Bitcoin from Platinum Asset Management. (And it looks like the exchanges are the real winners, raking in around eight times the revenue of the New York Stock Exchange!)

04.01.2022 An absolutely fascinating read on the behemoth that is Amazon.

04.01.2022 It that the foundations creaking that I can hear?

01.01.2022 Pleased to report that Lighthouse clients achieved weighted average returns of 16.9% over the 2019 financial year, 12.9% pa over 3 years, 13.9% pa over 5 years and 12.8% pa over the decade to June 2019.