Bernstein Value Title Page

Bernstein Value Title Page PowerPoint PPT Presentation


  • 76 Views
  • Uploaded on
  • Presentation posted in: General

2. Important Information. This publication has been prepared for distribution to professional financial advisers only and is intended to provide general information. It is not intended to be distributed or made available to existing or potential investors. AllianceBernstein and AXA Australia does n

Download Presentation

Bernstein Value Title Page

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


1.

2. 2 Important Information

3. 3 Investment Market Backdrop Global economy is firmly in expansion mode … the US leads the way Companies are deploying their excess cash Despite recent gains, equity market returns could be substantial from here - cheap valuations, balance sheet strength, lean operating structures are all supportive New/existing risks are unlikely to derail the positive investment backdrop

4. Australia Has Been A Relative Winner In The 2000 and 2008 Corrections

5. Australia Also Held Up Better In 1989

6. But This Has Not Always Happened

7. 7 The US Has Moved Into Expansion Mode

8. 8 US Firms Need to Upgrade Capital Equipment

9. 9 US Firms Have the Ability to Spend on Capital Equipment

10. 10 US Firms Are Now Willing To Invest On Capex

11. 11 US Companies Start Hiring Again

12. 12 US Consumers Have Deleveraged and Start Spending Again

13. 13 European Growth Is Very Unbalanced – Germany Is Booming

14. 14 Why Peripheral Europe Will Not Fail – Germany to the Rescue

15. 15 Food Inflation Should Ease In Coming Months

16. 16 "Ghost Cities Do Exist"

17. 17 4th Poorest Province in China

18. 18 "Ghost Cities Do Exist"

19. 19 Home to Four Nuclear Reactors

20. 20 "Ghost Cities Do Exist"

21. 21 Wealthy Coal Miners Stash Their Cash

22. 22 Is the China Property Market Oversupplied? No!!

23. 23 India Remains Capacity Constrained

24. 24 Corruption Weighs on India's Growth

25. 25 Australians Have Become A Nation Of Savers

26. 26 Australia Enters A New Growth Phase

27. 27 Conditions Are In Place for an Exceptional Value Recovery

28. 28 The Great Cash Giveback Is Just Getting Started

29. 29 Equity Market Valuations Are Enticing

30. Key Messages Australia still remains a relative winner The “new” US is emerging European core will hold its own China has significant medium term challenges Australian equities still have a legitimate role in portfolios – check weights

31. Australia Has More Time In The Sun Yet

  • Login