FNArena’s Weekly Insights – August 19 2024
August Paints A Bifurcated Picture
By Rudi Filapek-Vandyck, Editor
As per always, investors tend to experience reporting season through their own portfolio holdings.
Miss out on the few sharp punishments and own a number of positive surprises and we might feel chuffed about past choices and our predilection for selecting winners.
Own a few bombs and the game looks rigged against the small investor, with no surprise big enough to lighten the mood.
The share market can be a treacherous place, in particular during reporting season when one cannot be too certain in advance that whatever our companies share with the outside world will be liked and positively received.
And that’s simply the financial performance over the six months or quarter past. What about management providing guidance on what is likely ahead?
Corporate results season in Australia is a slowly ramping up affair, and this means, broadly speaking and as has become the local standard, we still aint seen nothing just yet.
Today, on the 19th of August, the FNArena Corporate Results Monitor still only has reviewed 70 results.
That number will be closer to 400 in less than two weeks, so a lot can and will undoubtedly change as the numbers accumulate quickly from here onwards.
But we’ve had Rio Tinto ((RIO)), Goodman Group ((GMG)), CommBank ((CBA)) and CSL ((CSL)), ResMed ((RMD)) and Cochlear ((COH)), plus a whole series of smaller cap names and quarterly updates from the other Big Banks, so maybe looking at the early trends and observations might not be such a bad idea.
