Cadence In The Press
Chris Garrard from Cadence shorted the company at $70 in October 2016. “This is a very rough proxy, but if it’s growing at 20%, it could move to a 20 P/E; then we’d see the stock coming down another $10.”
While some research analysts see the new bank taxes as yet another challenge for the sector, Cadence Asset Management’s Karl Siegling shrugs off any concerns around the levies on Macquarie’s bottom line. “The bank levies affect a small percentage of Macquarie’s earnings,” he said. “It affects a very large percentage of the major four banks […]
“At the moment, silver doesn’t seem to be seen as a proxy for certainty at all, not in the way that gold does,” says Karl Siegling, portfolio manager at Cadance Capital. But should the silver price head north, traders might experience a protracted, short squeeze.
After buying PM, Malcolm Turnbull’s 8% stake in Melbourne IT, Cadence Capital has steadily increased its holding to 16.5% and has seen the stock rise from $1.15 to $2.15, and it is tipped to rise further after the purchase of WME Group for $39m.
Karl Siegling is quoted regarding Macquarie Bank’s recent full-year profit announcement, saying that Macquarie has ‘surprised on the upside’.