Start of a new bull market for 2023 or a bear market rally?
Marc Kennis, November 14, 2022
Bear market rally, or start of a bull market?
Stuart Roberts from Pitt Street Research says its the start of a bull market. He cites the central banks tightening interest rates, a response from pricing and the global economy returning to normal. Stuart still backs Medibank, who didn’t pay the hackers ransom, and he thinks this will result in an interesting investor response and people should watch it carefully.
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Turning to the Star Entertainment Group, Stuart says the worst that can happen is the regulator takes away their licenses, but this didn’t happen in NSW. He says the casinos are imporant tourist attractions and the markets aren’t currently pricing in any of the upsides to Star as the post-Covid economy returns to normal. Star also has a new CEO with elaborate plans to clean house. And Medibank will probably also do well in a new bull market.
Watch the entire Ausbiz interview here!
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