ASX: The Anatomy of Shorting

WHAT IS SHORTING  Each week ASIC publishes a list of stocks that have been “Sold short”. In basic terms it means stocks that have been sold by people who don’t own them. It is not that easy to genuinely short a stock. You can do something similar through CFD accounts, but I wouldn’t deal with…

Read more
The One Stock Portfolio

The One Stock Portfolio

After I first wrote this article in 2009 and published it in The Age on Saturday, the stockbroker I worked  for at the time insisted that I include a disclaimer at the bottom of all my articles from then on saying “The opinions in this article are those of Marcus Padley and do not represent…

Read more

ASX Education: The inefficient market hypothesis

INEFFICIENT MARKET HYPOTHESIS You may have heard of ‘EMH’, the ‘efficient market hypothesis’. Anyone who’s read the introduction to any text book on financial theory can tell you all about it. EMH basically says that you can’t beat average returns because the markets are at all times “informationally efficient”, that is to say all prices…

Read more

Retirement Today: Crystal Ball

Looking out of our hotel room window in a small town in Portugal I noticed an oversized parking meter with a car connected by cable.  It wasn’t a parking meter it was an electric car recharging point.  It made me reflect on the number of electric cars we see in Europe and on the dominance…

Read more

Marcus Today on Life: The Flying Ferret

THE FLYING FERRET I used to own a greyhound. Well, a bunch of us did actually. It was a yuppie post-university indulgence organized by one of the West End wide boys I worked with in my early stockbroking days. He had picked out an Ad in the Greyhound Star for a ‘Sales Trial’ at the…

Read more