Roger Xie 谢天工

2.1 million Australian investors just got granted proxy votes, some for the first time. Throw in the other ASX shareholders amongst eToro's 35 million global clients, and democracy on the local market just got a serious shot in the arm. So it'll be interesting to see what impact rising activism might have on Australian companies in coming years at a time when more and more protest votes are being lodged. As pressure galvanises on consumer-facing companies – see last year's Qantas saga, the current supermarket inquiry and yesterday's Banducci/McKim blowup –will the next AGM season be even more fiery? #ASX #activist #investor #fintech

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GFH has confirmed that the ATO reached out to an independent contractor previously hired by Crunch Fitness Australia for more details about their working relationship. Currently, CFA GFIs are in questionable contracting arrangements. Additionally, CFA provides its GFIs with an invoice template that automatically subtracts their superannuation contributions from their wages. In a memo to instructors in January this year, CFA mentioned seeking advice from superannuation experts and AUSactive regarding the legality of this practice. This situation could pose issues if they are classified as employees, a scenario we anticipate. If this is the case, CFA might become the first in the fitness industry to be found guilty of sham contracting and responsible for wrongly deducted superannuation contributions. If that is the outcome, we warned you. 😊

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Padua Solutions has data across over 5,000 managed portfolio iterations. We have to keep this data up to date. There are no, significant, data suppliers in this space. What don't I love about this task? Confusion by Advisors and product teams about the nature of the portfolio? (i.e. Is it a model portfolio or a SMA?) Portfolio weightings that are not fully allocated, adding up to anywhere from 90%. Cash impact, we want to exclude it even though the funds are in the platform transaction account. For my mental health, I won't dwell on this one. Lack of disclosure on fees, particularly with RG97 requirements, the investment management fee on its own is not the only cost. Folks believe that the transaction costs and/or average performance fees can be excluded because they have been told they have a "discount" on them. SMAs do have a PDS and that document shows the fees and no the weighted average of the assets is not the cost. I only have to show the cost of the SMA product I am buying, not the pooled vehicles within it! RG97 fees are comprehensive, encompassing all levels of fees for SMAs and managed funds within a fund-of-fund structure, including investment management fees, costs, transaction costs, and average performance costs for each pooled vehicle. The rules look four levels deep. You have a new fund and we haven't had a performance fee event yet so we don't have to declare that...nope. Negative nett transaction costs mean that the cost of the product overall can be reduced, nope. Oh and one of my favourites, What do you mean the stamp duty on the property is built into the transaction costs in the year of expense? Do you have any idea how much that is? Yep, it's included. The goal is to capture all costs on a comparable basis to facilitate an informed decision, rather than simply making a product as inexpensive as possible through imaginative cost-cutting. When advice, relating to investment products, pulls on two strings only, performance and cost, the need for clarity and full disclosure is critical both for "value" for your client and also from a compliance perspective. #financialadvice #financialadvisors #financialplannning #superannuation #retirement

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Is the BITMAIN Antminer S21 series still overpriced? Poor market conditions are driving ASIC hardware prices to historic lows. The Antminer S19j Pro is now selling for less than $6/TH in the U.S., compared to $120/TH just three years ago—a staggering 95% price decline. However, the break-even operational expenses (electricity plus other operational expenses) for the S19j Pro is currently below $0.055/kWh, forcing many miners to upgrade to the latest generation. One of the newest and most efficient machines on the market is the S21 Pro, offering 234 TH/s. These air-cooled units are available wholesale at around $20/TH. Despite these low prices, the current record-low margins ($38 hashprice) mean the payback period still exceeds 3 years for the majority of miners. If hashprice doesn’t rebound soon, manufacturers may be forced to lower prices for these newest machines even further. This would likely mean a reduction in the premium which is currently paid for the latest gen ASIC miners compared to previous generation ASIC miners. 🚨 Make sure to check out this week's "The Bitcoin Mining Block Post". Digital Mining Solutions povides a full mining economics rundown, looking into: ➡ Bitcoin Price Keeps On Struggling ➡ Average Monthly Returns Indicates Redtember ➡Record Outflow Streak US Bitcoin ETF’s ➡Network Hashrate Breaking 700 EH/s ➡Difficulty Ready to Take Out ATH ➡Hashprice At Record Lows ➡NiceHash Sees 63% Surge in Profitability ➡ASIC Hardware Payback Period: S21 Series Too Expensive? 🔗 https://lnkd.in/dxRRz7fn. Brought to you by our sponsors NiceHash & Sazmining 🤝

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Pitt Street Research publishes its latest update on Weebit Nano Ltd which in FY24 has reported A$1m in revenues from license deals. These occurred as the company hit technology transfer milestones with commercial partners SkyWater and DB HiTek. The company has also reported holding $62.8m in cash, providing it with more than 2 years of financial runway at current cash burn rates. CEO Coby Hanoch has also indicated that the company hopes to sign more commercial deals in calendar year 2024, i.e. within the next 4 months. The company is currently in discussions with more than a dozen IDM’s, foundries and product companies, and management expects 1 or 2 of those deals to come through soon. Of course, the timing of when new deals come through is near-impossible to predict, but we believe investors need to focus on the breadth of conversations Weebit Nano is currently having with prospects across the semiconductor spectrum. We reiterate our valuation of Weebit Nano of A$9.56 per share outlined in our June 2023 report. Please be advised this is a commissioned report, is General Advice only and that Pitt Street Research staff and directors own shares in Weebit. Please see the key risks on page 5 and the final page for the full General Advice Warning, Disclosures and Disclaimers. Coby Hanoch Marc Kennis Stuart Roberts Eran Briman #weebit #weebitnano #tech #techstocks #techboom #semiconductor #semiconductors #semiconductorindustry #WBT #israelitech #israelinnovation #techshares #stocks #equities #equityresearch #stockmarket #NVM #reram #memory #memorytechnology #flash #flashtechnology #investment #investing

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AM TECH DAY APAC 2025 is diving deep into the world of AI 🤖✨ Get ready to explore groundbreaking technologies, transformative applications, and visionary insights. Let’s innovate and shape the future together! 🚀🌐 Register here > www.amtechdayapac.com #AI #Innovation #FutureTech #assetmanagement #superannuation

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AUS200 Hourly Good morning, The AUS200 has retraced most, but not all of those spectacular losses seen on Friday, and maintains a certain vulnerability. Regarding equities in general, there is a lot of bullish spin in the financial media this morning and Monday's are mostly 'buy' days. Nevertheless, the US market has been going sideways for five days now and Australia is fractious. You wouldn't know the US market was sideways. As the media alternates between spinning a slightly higher range and an historical close within the range, simply higher than the other sideways closing value, rather well. Creating some form of buyer excitement as they are want to do. The chart is objective. The market is trapped in a wide consolidation pattern at the moment. I made another good trade selling the Russel2000 near its highs Friday. There are plenty of downside moments in stocks at the moment, and these could only be happening if big selling was coming from major funds. This is not as clear an all strong market as you are being told by the major media outlets. www.cliffordbennett.com.au #australia #usa #stocks #trading #investing #disruption #wealth #familywealth #motivation

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Dale Smith, CEO of JAVLN, outlines 3 tips for insurance brokers tackling compliance in 2024 #australianfintech #fintech #fintechnews #compliance #brokers #insurance #insurancebrokers #technology #tech #technews

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Seven years ago, Aura’s Private Credit Income Strategy was born out of a vision that had been brewing in my mind for years. I had observed two significant trends that I believed could be addressed through a new financial product. The first was the chronic under allocation to fixed income assets in Australian investment portfolios—a problem that was only going to worsen as the population aged and the number of self-funded retirees increased. The second was the retreat of major banks from business lending, driven by the Basel III regulatory capital changes. These trends laid the foundation for the Aura Private Credit business case, aiming to provide income returns for investors while offering debt capital to strong Australian businesses. Reflecting on the past seven years, I've witnessed the Australian private credit market transform into a vital component of our financial system. This journey has been marked by regulatory changes, shifts in investment strategies, and the rise of non-bank lenders. As a portfolio manager, I've learned invaluable lessons about the importance of due diligence, transparency, and adaptability. Perhaps what is most intriguing is what’s next for private credit. Head to the comment section below for the link to Brett's article and the seven-year journey of Aura Private Credit. ⬇️ #auragroup #auraprivatecredit #privatecredit #milestone Calvin Ng Eric Chan Brett Craig Natalie Kolenda Jack Remond Sofia Spice

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Warren Hogan: “Inflation at 3.8% on RBA forecast but core a touch higher at 3.9%. Market we’re looking for a smoking gun on core inflation above 1% in the quarter to trigger a hike. The implication is that because it came in at 0.0843% the case for a hike has disappeared. If only it were that easy. The RBA board does have an excuse to remain patient and may well do that. But the broader picture has not changed. Inflation has stopped falling in Australia in 2024 at around 4%. With fiscal stimulus hitting the economy and employment growth super strong there is a material risk that inflation remains at 4%. Although the probability of a rate hike next week has gone down, the case for a higher cash rate is still there. I still think the best chance of remaking on the narrow path is a small upward adjustment to the interest rate in the short term. It mitigates the risk of needing to do more later.”

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Australia's Financial system is divided into three main categories: - Authorised Deposit Taking Institutions(ADIs) - Non-ADIs - Insurers and Fund Managers ADIs have grown significantly over the years. Their Asset size has skyrocketed from 1.71 trillion to 6.2 trillion AUD in 2024. Alongside, the number of ADI entities has decreased from 239 to 129, reflecting consolidation in the sector. Asset growth is clearly reflected in ASX200 Banks. #Finance #Australia #ASX #Banking #GrowthTrends #CapitalMarket

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Gen Z are itching to switch! New Deloitte report shows that 67% of Australian investors are considering switching Wealth Providers in the next 3 years. For Australia, this is predominantly younger investors (Gen X, Y & Z). Read more in our exclusive Australian research, 'Building A Future-Ready Investment Firm'. The team have developed two deep dives of particular interest for the Australian market: Client Experience and Productivity. Download the full report here:

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With the ASX200 recently trading at an all-time high, now could be a great time to reassess your risk management strategies in the market. Understanding “risk vs reward” and balancing the trade-off between being overly risk-averse and achieving substantial profits is crucial for a successful investment strategy. Check out Gavin Hanlon's latest post for expert insights! #financialadvisortips #wealthmanagementservices #goldcoastbusiness #ruralaustralia

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As always have a good discussion about the major central banks' policy decisions. We talked about the neutral (or normal) interest rate level of the US and the BOJ's challenge to balance currency depreciation and policy rate normalisation. It seems that the BOJ has a bigger potential to surprise the market than the Fed.

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Cunning financiers have concocted ways to duck the strict capital controls put in place by Ukraine immediately after Russia’s full assault got rolling on February 24th 2022. The trickery involves exports of “black grain,” as I explain in this article for the finance-and-economics pages in The Economist. Wartime tax evasion in Ukraine is as fascinating as it is troubling, I learned: even landmines are part of the story:   https://lnkd.in/dgxMsKC3

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Kiwi dollar down 1% on dovish RBNZ NZDUSD was sharply lower during Wednesday morning (down almost 1% for the session) deflated by the Reserve Bank of New Zealand’s dovish stance. The central bank left interest rates unchanged at 5.5%, as widely expected, but signaled that the door for possible rate cut remains open, should inflation continue to ease in line with expectations. Fresh weakness broke through important technical supports at 0.6100 and 0.6089/80 (daily Tenkan-sen / daily Ichimoku cloud top /Fibo 38.2% of 0.5851/0.6221) and pressuring pivotal support at 0.6047 (July 2 higher low). Daily close within a cloud to confirm bearish signal, with violation of 0.6047 trigger to complete a failure swing pattern on daily chart and open way for test of next targets at 0.6036/25 (50% retracement / daily cloud base), with break below thickening daily cloud to further weaken near-term structure. Rising negative momentum on daily chart and daily Tenkan/Kijun-sen in bearish setup, add to negative near-term outlook. Corrective upticks should be ideally capped by cloud top and not exceed daily Tenkan-sen, to keep bears intact and offer better selling opportunities. Res: 0.6089; 0.6100; 0.6134; 0.6153 Sup: 0.6047; 0.6036; 0.6025; 0.6000 #fx #forextrading #nzdusd #kiwidollar #rbnz #interestrate #technicalanalysis

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Webinar - ASX Small Cap Investing: Where to Find the Next Big Opportunity Investing in Australian Equities? Join @RonShamgar for a deep dive into Australia’s market trends and top ASX picks. Explore his strategies for identRon ShamgarRon ShamgarRon Shamgarrvalued stocks, upcoming takeover opportunities, and sectors primed for growth in the Australian equities market. 📅 Date: Wednesday, 27 November 🕒 Time: 2pm (AEST) Register now for key insights! https://lnkd.in/ggHCgQ73 ✨ Highlights include: - Exclusive insights into top ASX stocks - TAMIM’s investment approach in the Australian market - Potential takeover candidates in the ASX - Live Q&A session Can’t join live? No problem! Register, and we’ll send you the recording to watch at your convenience. For wholesale sophisticated investors only. #TAMIMWebinar #InvestmentInsights #MarketTrends #FinancialPlanning #FundsManagement #SMSF #Superannuation #SelfManagedFunds #investmentportfolio #Investing #SmallCaps #TechStocks #AussieStocks #Stockstowatch #Stockwatchlist #stockinsights #ASX #ASXSmallCaps #smallcaps

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