In this Stockhead series, investment manager\u00a0James Whelan, managing director Barclay Pearce Capital Asset Management\u00a0offers his insights on the key investment themes and trends in domestic and global markets. From macro musings to the metaverse and everything in between, Whelan offers his distilled thoughts on the hot topic of the day, week, month or year, from the point of view of a professional money manager.<\/p>\n
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Good Morning.<\/p>\n
Another great Turkey Day behind me and possibly the best one I\u2019ve ever hosted. Good friends and good wine. Couldn\u2019t ask for a better way to spend a Sunday.<\/p>\n
Here\u2019s a shot of the turkey. Apricot Jam Glaze.<\/p>\n
The full focus for Team Whelan now turns to the funs stuff \u2013 we\u2019re (Barclay Pearce) joint lead on a rights issue and shortfall for ASX-listed pharma Wellnex. For any details let me know.<\/p>\n
We\u2019ve been tracking the US consumer this week and the post-Thanksgiving Black Friday sales will tell us everything we need to know about how strong the US consumer is, or thinks it is.<\/p>\n
With a 7.5% year on year increase in online sales as well.<\/p>\n
Things seem pretty good in the US<\/a> and the more we see the more we confirm that a soft landing is the most\u00a0likely outcome.<\/p>\n I broke up the week with a short note on copper which had started to show signs of recovery. China announced more support for their struggling property sector and there\u2019s been some supply issues also it\u2019s back in vogue.<\/p>\n I spoke about it on the podcast<\/a> as well and there\u2019s some charts and ideas off the back of it.<\/p>\n<\/div>\n The developing world still goes through it and is growing usage.\u00a0 When this changes, and it will, it will be massive.<\/p>\n<\/div>\n The only fact is that eventually power generation needs to be via other means. For now though, it is only the developed economies leading the way away from coal.<\/p>\n As I refine out the asset management offering, I\u2019m becoming more and more aware of what current and potential clients believe they need for retirement.<\/p>\n It\u2019s quite a bit according to this survey posted by Ensemble Capital.<\/p>\n Via Ensemble Capital<\/em><\/p>\n Note that millennials are right in the firing line when it comes to spending anxiety.<\/p>\n Housing\u2026 school for kids\u2026 big purchases. Haircuts\u2026<\/em><\/a><\/p>\n To be staring down the barrel of that makes you feel like you require an income of half a brick just to survive.<\/p>\n Adjust your expectations accordingly in your business conduct and advice.<\/p>\n While we\u2019re on the subject of demographics the team at Bank of America did some work on birth rates and inflation. There\u2019s correlation there\u2026<\/p>\n And apparently the US is having a little baby boom. This was from a few weeks ago but it\u2019s only just appeared on the radar, Courtesy CNBC.<\/a>\u00a0<\/em><\/p>\n\n So millennials, in the face of still high inflation (but slowing), who believe they need 4x as much income as the other guys to survive, are trying for and having kids in the US.<\/p>\n That\u2019ll give a boost to retailers.<\/p>\n Meanwhile, here in Oz, we have the new Governor of the RBA telling us that it\u2019s trips to the dentist and hairdresser<\/a> that\u2019s driving inflation.<\/p>\n She came as close to saying \u201cstop going to the dentist or I\u2019ll keep raising rates\u201d as humanly possible.<\/p>\n We fact checked it with Gareth Aird, CBA Head of Aussie Economics and the facts show that the new RBA Governor is actually quite wrong.<\/p>\n\n Remarkable.<\/p>\n That\u2019s all for today as we crack on with Wellnex Life (ASX:WNX)<\/strong><\/a><\/p>\n Stay safe and all the best,<\/p>\n James<\/p>\n The views, information, or opinions expressed in the interview in this article are solely those of the writer and do not represent the views of Stockhead.<\/em><\/p>\n Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.<\/em><\/p>\n<\/div>\n <\/span><\/p>\n The post FREE WHELAN: Life, death, turkey and power<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bullish.<\/h2>\n
COAL<\/h2>\n
\nThe fact is\u2026<\/strong>\nChina is still power hungry<\/h2>\n
Demographic Investing<\/h2>\n
Life and death and the BoA<\/h2>\n
\nThey came up with this chart\u2026<\/p>\n