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This is your weekly QAV Club Newsletter.

Happy Friday, <<First Name>>.

I hope you've had a great week and are staying safe, especially those of you in Victoria and NSW. In QLD we seem to have dodged the bullet for now, despite Tony's visit.

QAV Portfolio

As of 3pm today, our portfolio is still outperforming the ASX quite nicely. Tony is planning on doing an audit on my spreadsheet again next week, and the numbers will probably change, but not enough to make a big difference on our performance vs the XAOA (I hope!).

As always, a reminder for new subscribers:

If you're looking for more content where Tony talks about the basics of his thinking about investing, don't forget to check out our archives. Scroll through our 2019 episodes and you'll find that's all we did in our first ~50 shows. We covered a ton of stuff. If you get through that 50 hours and still need more clarification, shoot us an email! Tony is always happy to revisit stuff to help clarify anything that's confusing, but our current episodes assume you already understand the basics.

Have a good weekend!

Cameron

S03E34 – THE PEAK FUDGE

Questions this week include how Tony uses the “most undervalued ASX20 stock” strategy; whether or not ATS being a Schrodinger makes it a sell; and 3PTL help on KCN, GGUS and FMG. We also discuss Tony’s recent journal entries, Sam Elliott’s mustache, Allison Janney the horse, Hamilton the Musical, and Tony’s Rain Man-esque memory for details.
TK JOURNAL
If you're looking for stocks to research, Tony's journal entries for the last week involved alerts for NWS, ADH, 8IH, MAH, HJPN, BFG, RKN and CVW.
FACEBOOK DISCUSSIONS
On our private QAV Club Facebook group, we've had some interesting debates over TK's scoring of RKN and NWS and Eddie picked up an error in the DW Version spreadsheet which affected scoring when no Future EPS exists. I've made some adjustments in the latest version of the QAV Bible to reflect that as well, so thanks Eddie!
BOOK OF THE WEEK
This week I've been reading Jim Carrey's new semi-autobiography "Memoirs and Misinformation" and Stephanie Kelton's “The Deficit Myth” and I can highly recommend them both.



Kelton is an American economist and academic. She is currently a professor at Stony Brook University and was formerly a professor at the University of Missouri–Kansas City. She also served as an advisor to Bernie Sanders' 2016 presidential campaign. Here's a quote from the introduction to her book:

“This book uses the lens of Modern Monetary Theory (MMT), of which I have been a leading proponent, to explain this Copernican shift. The main arguments that I present apply to any monetary sovereign—countries like the US, the UK, Japan, Australia, Canada, and others—where the government is the monopoly issuer of a fiat currency. MMT changes how we view our politics and economics by showing that in almost all instances federal deficits are good for the economy. They are necessary. And the way we have thought about them and treated them is often incomplete or inaccurate. Rather than chasing after the misguided goal of a balanced budget we should be pursuing the promise of harnessing what MMT calls our public money, or sovereign currency, to balance the economy so that prosperity is broadly shared and not concentrated in fewer and fewer hands.”

She goes on to argue that the idea that a federal government should budget like a household is a myth that politicians need to stop perpetuating as we the people need to stop believing. It's a fascinating read, especially for someone like me whose knowledge about economics is about equal to my knowledge of country music.

 

CONTACT

Cameron: cameronreilly@gmail.com
Tony: tkynaston@icloud.com


 
ALSO BY TONY & CAM
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Please remember - nothing we say should be taken as financial advice. This newsletter and the podcast should be treated as entertainment and financial literacy information only. If you need financial advice, please see a qualified financial adviser. 
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