Johnny Shapiro

Sydney

Senior Reporter at Australian Financial Review

@FinancialReview journalist covering finance, markets and investing. Arsenal fan and dad. [email protected]

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Articles

UBS cut to sell as brokers darken on Commonwealth Bank, big four banks

5 days ago | afr.com | Johnny Shapiro

UBS analysts have taken a dim view of ANZ Banking Group’s prospects under new chief executive Nuno Matos and are advising clients to sell out of the cheapest of the big four banks amid concerns of a pending dividend cut. The broker lowered its price target from $30 per share to $26.50 citing its expectation that ANZ’s new management will preserve capital by slashing shareholder payouts by 25 per cent. Loading... Follow the topics, people and companies that matter to you.
Australian market not a happy place for investors hoping to leverage takeover transactions

6 days ago | afr.com | Johnny Shapiro

Fifteen years ago, John Paulson found himself immortalised in The Greatest Trade Ever, a bestseller that recounted how the hedge fund manager made billions of dollars betting on the collapse of the US housing market. But Paulson’s epic trade was one he should not have made. His real expertise, and where he had spent most of his career until that point, was making smaller, more mundane bets on whether corporate mergers were completed. Loading...
Future Fund ditches Dexus as manager of its Melbourne Airport stake

1 week ago | afr.com | Kylar Loussikian |Nick Lenaghan |Johnny Shapiro

The Future Fund has ditched Dexus as the manager of its multibillion-dollar stake in the owner of Melbourne Airport, one of the first times that the $300 billion sovereign wealth fund has taken back a mandate. The fund was only given approval by the federal government to manage its own assets internally late last year, and had previously relied on Dexus to oversee its 20 per cent stake in Australian Pacific Airports Corporation. Loading... Follow the topics, people and companies that matter to you.
L1 Capital tweaks merger terms with Platinum, trading ownership share for performance fees

1 week ago | afr.com | Johnny Shapiro

Melbourne-based fund manager L1 Capital will retain a greater share of the performance fees associated with its $1.8 billion ASX-listed Long Short Fund as it edges closer to a merger with Platinum Asset Management. Platinum also said its ownership portion of the merged entity will increase slightly from the initial 25 per cent of the company to 26 per cent as it seeks to lock down terms with L1. Loading...
US a more risky and uncertain place to invest, Future Fund chair warns

1 week ago | afr.com | Johnny Shapiro

Future Fund chairman Greg Combet has warned that the United States is becoming a more risky and uncertain investment destination for Australia’s superannuation industry, with the Trump administration’s threats to hike taxes on foreign investors and its push to depreciate the dollar changing global capital flows.
Paul Keating on the reforms that helped make the Commonwealth Bank Australia’s most valuable company

1 week ago | afr.com | James Eyers |Johnny Shapiro

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementWhen Paul Keating saw the front page headline CBA scales $300b peak, he couldn’t help himself. The bank had just become the first ASX-listed company to break through that level of market capitalisation and Keating wanted to claim his part in the story. He called up The Australian Financial Review to summon two banking writers to his Sydney office for a history lesson.
AI could give Google its Kodak moment as a new age of artificial intelligence internet search begins

1 week ago | afr.com | Johnny Shapiro

The Google search engine has become such a ubiquitous part of life that it’s difficult to imagine the possibility that one day it could just vanish. Yet, that is what financial markets are doing – pondering an artificial intelligence-powered future of search in which Google is left behind. Sure, the search engine’s parent Alphabet has a market capitalisation that, at $US2 trillion ($3.3 trillion), exceeds the entire Australian sharemarket.
Seven reasons to think twice about this asset class

2 weeks ago | afr.com | Johnny Shapiro

Private markets are eating the world. That’s the prevailing major structural theme in global capital markets that investors, regulators and asset managers have decided they need to accept and confront. The Australian regulator has been spooked into action to try to encourage more companies to list and reverse the shrinking sharemarket, while the country’s most esteemed stock picker – Perpetual – is cutting deals with private market competitors. Loading...
Oaktree’s Howard Marks says stocks are ‘lofty but not nutty’

2 weeks ago | afr.com | Johnny Shapiro |Cecile Lefort

Oaktree’s founder Howard Marks says while Wall Street’s rebound back towards its record high was “troubling”, equity valuations were not yet at a level that would suggest a bubble was starting to emerge. Marks, speaking from Spain via webcast at the Morgan Stanley conference in Sydney, said stock prices were “lofty but not nutty”, before adding that his $US200 billion ($307 billion) firm saw better opportunities in credit markets given the uncertain economic backdrop. Loading...
Minack decries Australia as a stagnation nation

2 weeks ago | afr.com | Johnny Shapiro

Veteran global macro strategist Gerard Minack says Australia needs to change its migration mix, get rid of franking credits and store gas for local use to cheapen energy prices to get itself out of its economic malaise. The former Morgan Stanley analyst who consults to investors around the world branded Australia as a “stagnation nation” in which real incomes were flat lining and growth per capita was falling. Loading... Follow the topics, people and companies that matter to you.