Superannuation was very prominent in the Australian news this week. For those not familiar with it, Wikipedia will explain. In short, it was ‘newsworthy’ as the current Australian Government is (as Governments always are) looking for new, sustainable and reliable sources of revenue to support spending ‘initiatives’… This graph from the same Wikipedia site explains […]

This update marks 2 full years of operation for EGP Fund No. 1 Pty Ltd as an investment company.  Our quarterly update is now available (.pdf) The first three quarters of financial year 2012/13 have been very good for both the benchmark – up 25.88% – and for EGP holders who were up 35.47% after all […]

For anyone suspecting the recent market rally is unsupported by fundamentals (earnings) I propose you consider this wonderful graphic representation I found about a fortnight ago:       One should always be leery of charts, like statistics, they can sometimes be used to tell any story the author wants.  This chart I thinks serves […]

I had always expected our holding to be quite uncorrelated with the market.  As I have mentioned previously, I have been surprised how much more correlated the prices have been than I expected, so I thought I’d look at the correlation in depth. Prior to this week, there has been 103 Updates (generally weekly with […]

Psychology (primarily MY psychology) is what I thought I’d briefly discuss this week.  I self-identify as a value investor, and a value mind-set pervades all aspects of my life.  But it is important not to mistake what value is, it can exist in many forms. As the value-investing mentality pertains to stock investments, perhaps the […]

I mentioned a couple of weeks ago that I would give an update on the valuations of the underlying assets of EGP once reporting season had passed.  This week’s offering contains lots of numerical data, and may be more detailed than most might like, but I think it serves my fellow shareholders well to know […]

The ASX200 last Friday closed at 40244.46.  On January 1st 2008 it was 40291.21 – I always use the ‘total return’ index, in my view the ‘price’ indices are a waste of time, we must always factor for dividends. It had been 5 years, 1 month and 15 days at that point and the return […]

Regular readers have probably been expecting something special, this being the 100th update since I launched EGP Fund No. 1 on April 1 2011.  You’ll probably be disappointed, for it will be just a regular update.  Though I am pleased to be able to report in our 100th update that to date, since inception, our […]

I have posted the Audit confirmation from the first half of financial 2013 (.pdf).  I don’t really know how many of our readership has need for Accountants/Auditors, but I can highly recommend True Elite Business Services Pty. Ltd.  As a fellow CPA I have worked with many auditors, primarily with ‘Big 4’ auditors.  I have […]

The AFR last week had an interesting graph last week which showed what a powerful factor dividends are in the performance of Australian equities.  In fact, they account for 43.21% of all gains over the last 20 years in the ASX200.  The graph in this article (pay-walled) shows the ASX200 index is up a compounded […]

Today, I’ll revisit one of the very earliest posts I made, back before the fund even commenced.  I will do so for two reasons.  Firstly, I made the claim in the 2013 Half Year report (.pdf) that nearly 80% of equities focused funds fail to beat a suitable benchmark after fees are factored over a […]

Here is a link to our half year report for 2013 (for non-Australian readers, the Australian financial year runs July 1 to June 30) which was e-mailed to holders recently.  We are very pleased with our performance since inception, but are hopeful the best is yet to come.  After four weeks of beating the benchmark, […]

I write this entry from Guangzhou, the third biggest city in China.  Once again, my less ‘hands-on’ approach has paid off this week with a 1.2% gain against a fall of 0.3% for the benchmark. I jest of course in attributing the recent run of good weeks to the fact I am away and less […]

I am in Glasgow today and Edinburgh tomorrow.  I am spending only about a quarter of the time I usually would monitoring and managing our portfolio etc.  Given we are on holiday; naturally my wife thinks this is too much (I wake/work mostly in the night while the Australian market is open, so she doesn’t […]

Happy New Year from Dublin.  The year was a pretty good one for EGP in absolute terms, our unit price was $0.96254 this day last year and today we find it (unaudited at this point) 26.47% higher at $1.21730.  The ASX200TR index advanced from 30879.12 to 37134.53, for a gain of 20.26%. Regular readers will […]