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February has been an exciting month at Morningstar as we have introduced a number of new features for our premium subscribers

Insights from veteran investor Jim Rodgers

Explosives and fertiliser maker Orica says it expects operational issues and writedowns to cut its first-half earnings before interest and tax by nearly $400 million.

Westpac's chief financial officer has told the Productivity Commission that Australian banks are not highly profitable just because they make large profits.

Adelaide Brighton's full-year profit has slipped 2.3 per cent to $182 million after the cement and masonry supplier took a $17.7 million earnings hit from the discovery it had been underpaid for some supplies.

Furniture and electronics retailer Harvey Norman's half-year net profit has slumped with franchisees' earnings falling and as the group's dairy investments have soured.

As we enter the Year of the Dog, it is fair to say the Chinese zodiac has something to teach us about investing--not so much about when to buy into the equity market, but as to how long.

Wisdom from one of the great investors the world has ever known.

In his annual letter to shareholders, Berkshire Hathaway’s Warren Buffett makes the case for sticking with "big, 'easy' decisions" and reaffirms that Berkshire is ready and willing to take on a big deal--if the price is right.

Mineral sands miner Iluka has lifted full-year revenue almost 40 per cent due to surging sales and higher prices for its products but impairments have weighed on the bottom line.

Investing insights from the head of Global Financial Strategies at Credit Suisse

Rio Tinto has agreed to offload a bundle of aluminium assets including an Icelandic smelter for a total $345 million.

Cabcharge has reduced its first-half loss, thanks to its expanded taxi fleet helping lift revenue in the face of growing competition from ride-sharing services such as Uber.

Fuel retailer Caltex Australia will spend up to $120 million in buying out its franchisees to have only company owned service stations by 2020.

Ardent Leisure expects to trade profitably in the second half of the financial year as attendances improve at the Dreamworld theme park on the Gold Coast.

Isenita chief executive John Croll has quit his position on the same day the media monitoring group announced a $4 million half-year loss.

In this edition of How We Invest Your Money, John Beck of Franklin Templeton shares his thoughts on the outlook for global credit markets.

Flushed with success, shares in plumbing supplies giant Reliance Worldwide have soared to a record high after the company lifted first-half net profit by 17.5 per cent.

It's virtually impossible to overstate the influence that he has had on Warren Buffett's investing discipline.

Shares in BlueScope Steel have jumped to an eight-year high after the company lifted its first-half net profit 23 per cent and flagged a further increase in second-half earnings.

Edge refers to something that gives you an advantage over other investors.

A significant impairment of goodwill and a write-down of deferred tax assets following the reduction in the US corporate tax rate has dragged insurance giant QBE to a $US1.25bn loss.

Morningstar senior equities analyst Gareth James discusses what investors need to know about the federal government's $3bn funding boost for the child-care sector.

Mayne Pharma has slipped to an impairment-driven half-year loss of $174.2m but says that after experiencing challenging conditions over the past year, a recovery is underway.

Interest rates might be on the rise in North America, but Asian central banks are seen unlikely following their lead in 2018, analysts say.

Australia's female labour force participation rate reached an historic high in January and continued growth could help to grow women's superannuation balances, which still significantly lag those of men.

Woolworths' first-half profit jumped 37.6 per cent to $969 million after comparable food sales at its Australian supermarkets rose 4.9 per cent.

The clash of monetary policy and an ill-disciplined fiscal policy has the propensity to create upheaval in global financial markets, Morningstar's Peter Warnes says.

Southern Cross Austereo's half-year net profit has dropped 21.2 per cent to $38.2 million, following the recent divestment of its northern NSW TV business.

With the Chinese New Year officially kicking off last week, Naomi Waistell of the UK-based Newton Investment Management comments on the outlook for China.

Qube Holdings expects to deliver an improvement in full-year underlying profit amid the likelihood of stable volumes and limited capacity to secure rate increases.

Westfield's joint CEO Peter Lowy insists its board and the Lowy family remain committed to the shopping centre giant's $33 billion takeover by Unibail-Rodamco.

Strong ratings and a dominant share of the free-to-air TV revenue market have driven a 55 per cent increase in Nine Entertainment's half-year underlying profit.

Crown Resorts' international VIP gambling business has improved but conditions have been more challenging in the first half for its Australian operations.

Blackmores shares have plunged in early trade despite the vitamin maker boosting first-half profit by 20 per cent, with investors reacting to a warning of a soft second half.

Qantas will return another $378m of capital to shareholders in the form of a share buyback after the carrier lifted first-half profit 18 per cent to $607m.

Wesfarmers says the upcoming spring and summer sales season will be critical to the future of its underperforming Bunnings hardware business in the UK and Ireland.

Each of these companies delivered better-than-expected results for 1H18, on the back of strong oil prices, advertising sales, and distribution, respectively.

With inflation fears on the rise--particularly in the US, but also in Australia--retirees are among the most vulnerable.

The purpose of Morningstar’s qualitative, analyst driven research on funds is to identify those funds that should outperform a relevant peer group.

Fortescue Metals' half-year profit has dropped 44 per cent as the miner offered wider discounts on its lower-grade product, but the result still came in ahead of market expectations.

Santos has reported a full-year loss of $US360m due to impairments on its Gladstone LNG project in Queensland and other assets recorded in the first half of 2017.

Downer has posted an $11.1 million first-half loss, dragged down by a goodwill impairment on its mining operations, writedowns from its freight rail divestment and redundancy costs.

Seven West Media's first-half profit has risen to $100.7m but the broadcaster has temporarily suspended its dividend to focus on managing expenses.

Vocus Group has revised its earnings guidance for the full year after its half-year net profit fell 21 per cent, and due to a reduction in costs that can be deferred.

Super Retail Group will buy New Zealand outdoor brand Macpac for $A135 million.

Fairfax Media will sell or close more than a third of its New Zealand print publications following a 54 per cent fall in first-half profit.

BHP has joined other big miners in lifting payouts to shareholders as strong commodity prices boost profits.

Oil Search says it has progressed plans with global giants ExxonMobil and Total for new facilities that could double production of liquefied natural gas in Papua New Guinea.

Greencross is benefiting from a surge in sales as pet owners lavish increasing sums on their animals and spread their spending across new services and online channels.

As we pass the mid-point of another company earnings season, it's a good time to reflect on the value of healthy scepticism around financial results.

Fertility clinic owner Virtus Health expects its volumes in Australia to pick up as the impact of a rival's entrance into the Queensland market subsides.

While micro-cap companies have delivered outsized performance for investors in the current market, Morningstar cautions investors to tread carefully and remember basic investment principles.

At US$10.5 trillion, China’s bond market was the world's third largest as of September 2017, behind the US and Japan.

This trio of equities funds cut their fees in the year to 30 June 2017 and each is highly regarded by Morningstar manager research analysts.

InvoCare shares hit a six-month low after the funeral and crematorium operator warned it expects flat operating earnings in the 2018 financial year.

US stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent sell-off.

Shares in SEEK have risen almost two per cent after the job ads portal lifted first-half profit and tipped full-year profit to be at the upper end of guidance.

Shares in oOh!media have climbed 5.4 per cent after its full-year profit grew by more than one third to $33.2m.

Logistics firm Brambles has posted a half-year profit of $US447.2m, more than triple the result from a year ago when it had taken a huge impairment.

NIB managing director Mark Fitzgibbon says the Australian health insurance market is as soft as he can recall after the insurer's first-half profit dipped 1.3 per cent to $70.9m.

Articles covering a diverse range of topics across stocks, funds, self-managed super and exchange-traded funds grabbed the most reader attention on Morningstar.com.au last week.

Domain Holdings' first-half underlying profit has slipped 8.1 per cent to $24.7 million, on a pro forma basis, dragged down by a spike in company costs.

Investors are aggressively positioned, with fear-of-missing-out now the overwhelming sentiment , says Morningstar Investment Management's Daniel Needham.

The Star Entertainment Group wasn't so lucky in the first half of the financial year as the casino operator's win rate against high-rolling VIP gamblers took a beating.

Village Roadshow has swung back to profit in the first half following its exit from the Singapore cinema business and has flagged a second-half lift in earnings at its struggling theme parks.

There are likely to be more failures such as the recently shuttered negative-VIX funds in the US, with an increase in product launches also likely to mean more duds, writes Ben Johnston from Morningstar in Chicago.

Younger investors are increasingly selecting investments that reflect their own personal values around environmental, sustainability and governance, a Morgan Stanly study shows.

Origin Energy has slipped to a half-year net loss of $207 million, with its bottom line weighed down by $533 million in impairments.

An increase in volumes and a jump in prices has helped Whitehaven Coal to sharply lift its half-year profit.

The economic plates of tightening monetary policy and stimulatory fiscal policy are rubbing against each other and causing tremors, but have not yet broken.

Medibank Private has lifted half-year profit nearly six per cent, but cost pressures on consumers have kept growth in health insurance premium revenue to less than two per cent.

Primary Health Care has ended three years of falling profits by lifting first-half profit 4.7 per cent to $22.1 million despite another drop in earnings at its medical centres.

Gold miner Newcrest's first-half profit has been halved to $98 million as a result of an earthquake that halted production at its Cadia mine last April.

Where to find value in an underwhelming investment environment, the lonely path of contrarian investing, and why efficient market theory is debunked.

A jump in capital raising and futures trading activity has helped stock exchange operator ASX Limited lift half-year profit.

The big dry in Queensland and northern NSW has significantly reduced the harvest in eastern Australia and will hit earnings, GrainCorp has warned.

ANZ's divestment program has continued with the completed sale of its retail and wealth businesses in six Asian countries.

Sonic Healthcare's first-half profit has grown 16 per cent to $228.6m as the pathology and radiology services group achieved revenue growth in each of its global operations.

South32 has lifted its shareholder payout after improving its first-half underlying profit on the back of stronger commodities prices.

Domino's Pizza shares have dropped after the company lifted first-half profit by 17 per cent but slightly reduced sales guidance for its Australia and New Zealand stores.

New research that segments SMSF trustees into Growers, Spenders and Preservers considers a combination of retirement income risks and suggests more detailed cashflow strategies are needed.

Suncorp's first-half profit as fallen 15.8 per cent to $452 million after Melbourne's December hail storm contributed to a blowout in natural hazards costs.

Telstra has cut its dividend after the telecommunications provider's first-half profit fell almost five per cent to $1.7 billion.

Smart beta exchange-traded funds could account for one-third of all ETFs listed on the Australian Securities Exchange by the end of 2018.

Both are Australian moat-rated companies--one a rail freight operator that announced a 52 per cent profit jump for 1H17, the other a major toll road investor that tripled profits over the same period.

Orora has warned it expects its power bill to rise by as much as $8 million in each of the next two halves as the packaging business looks for alternate supplies amid surging east coast electricity prices.

Aveo Group's first-half underlying profit dropped 33 per cent to $36.3m after sales fell following allegations the retirement village operator was ripping off residents.

Vaccines and blood products supplier CSL's half-year net profit has surpassed $US1bn for the first time, partly due to a big lift in sales of flu vaccines.

Cochlear has paid shareholders a higher dividend and maintained its full-year guidance despite a dip in first-half profit due to the timing of a large Chinese tender and US tax changes.

Woodside Petroleum has announced a $2.5bn rights share raising after agreeing to buy an additional 50 per cent stake in the Scarborough gas field, off the WA Coast.

Myer chief executive Richard Umbers has stepped down from the helm of the struggling department store.

Insurance Australia Group has lifted first-half profit 23.5 per cent to $551m, primarily due to a significant increase in insurance profit.

With an expected slowdown in the Chinese economy potentially impacting commodity prices and thus effecting Australia, J.P. Morgan's Kerry Craig discusses whether investors should be concerned.

Diverse themes within financial services and renewables are among the top picks for 2018 from Nikko Asset Management's Eng-Teck Tan.

Given China's ongoing economic growth and increasing representation in global indices, we ask Nikko AM's Eng-Teck Tan what this means for Australian investors.

Especially during market downturns, ticking off the following jobs can provide certainty, highlight areas you need to tighten up or even distract from unhelpful activities, writes Christine Benz from Morningstar in Chicago.

International specialty retailers and consumer electronic players JB Hi-Fi and Apple are offsetting department stores' sales declines, shopping centre owner GPT says.

These Australian and global equity funds produced superior returns over last year, according to Morningstar research.

JB Hi-Fi has lifted first-half profit 37.4 per cent to a record $151.7 million after a healthy Christmas sales performance across its expanded store network.

Bendigo and Adelaide bank has lifted first-half cash profit 10.7 per cent to $225.3m in a performance boosted by mortgage rate rises and an increase in residential lending.

Aurizon Holdings first-half profit has jumped 52 per cent from the previous corresponding period, when its accounts were weighed down by impairments and one-off items.

Transurban has more than tripled its first-half net profit to $331 million, following strong growth in toll revenue, particularly in the US and Melbourne.

Building materials supplier Boral has lifted its first-half profit but the growth was capped by significant items including $41m in integration costs for its US acquisition.

The dramatic growth of index funds has generated scepticism among some and outright hostility from others.

Our readers turned to Morningstar.com.au for analysis on recent global market events last week, with articles on this topic--along with a few instructional pieces--dominating our most-read list for the week-ending 9 February, 2018.

Global packaging company Amcor has lifted its half-year net profit 15 per cent to $US329.7m thanks to expanded margins, strong returns and progress on key investments.

The inflation bogeyman has reared its ugly head and sent US stock investors racing for the hills in recent days.

With the stock market continuing to gyrate wildly, it's easy to forget that, until now, equities had generally moved in a straight line higher 2017.

Any further dips in share prices may make Australian companies cheaper for offshore buyers and promote more takeover activity, rather than deter it.

Ansell has lifted its full-year outlook for earnings per share from its continuing businesses and says the group is well placed for growth from existing operations, and acquisitions.

Amid uncertain times for Australia's financial services and resources sectors, Nikko Asset Management's head of Australian equities remains upbeat.

The department store chain warned it cannot see an end to the gloomy trading conditions that led to a steep drop in January sales and the need for more writedowns.

Skycity expects its Darwin casino to improve its performance in the second half of the financial year, but the property's future is still under review.

News Corp has cut its first-half loss to $US16 million, helped by a 32 per cent increase in earnings from its digital real estate businesses.

REA Group's Australian arm has driven a 21 per cent lift in half-year underlying profit despite a slowdown in the housing market, but the company has warned it expects conditions to decline further in the second half of the year.

These very distinct companies across gaming, healthcare and construction are among T. Rowe Price's top Australian equity picks.

Origin Energy has flagged a $533m hit on its 2018 first-half results following impairment charges for its Ironbark gas field and on its recently sold Lattice Energy business.

Energy producer and retailer AGL Energy says it is on track to deliver a full-year underlying profit of close to $1 billion after posting a very strong first-half result.

Steps to help you avoid making the wrong moves and remember the potential consequences of some common behavioural blunders.

Leveraged investing is a controversial topic at the best of times--even more so given the recent market jitters--but it can work in various ways, explains John Rekenthaler from  Morningstar in Chicago.

Acknowledge the past but don't invest in it, Morningstar's Peter Warnes says, as there is no certainty the past, whether good or bad, will be replicated.

An assessment of the latest financial results from Commonwealth Bank, NAB, AMP and Macquarie Bank from Morningstar's David Ellis.

Acknowledge the past but don't invest in it, Morningstar's Peter Warnes says, as there is no certainty the past, whether good or bad, will be replicated.

The property group has reported a fall in half-year profit but maintained full-year guidance, saying its results will be affected by residential settlements weighted heavily towards the second half of the year.

Investors should consider recent events in global markets through the lens of price versus fundamental change, says Morningstar's Clint Abraham.

Tabcorp's first-half profit has fallen nearly 60 per cent, dragged down by the cost of its $11 billion merger with Tatts, an underperforming UK joint venture, and the closure of digital wagering business Luxbet.

CIMIC's shares have soared after the construction giant announced a 21 per cent lift in full-year profit to $702 million and raised its dividend by 13 cents.

Online vehicle classifieds business carsales.com has lifted its first-have profit 27 per cent and says it is on track to deliver growth in the second half.

NAB's cash earnings have slipped one per cent as expenses have risen partly due to the lender's increased spend on infrastructure and job cuts.

What bond investors can expect as bull market ends amid US monetary tightening; and what 1H18 company earnings hold for equity investors, from Shane Oliver, chief economist, AMP Capital.

Rio Tinto will deliver a record payout to shareholders after stronger commodity prices nearly doubled its full year profit.

AMP has swung back to profit from a $344 million loss a year ago, following strong earnings momentum from its AMP Capital and AMP Bank businesses.

At Morningstar, we continue to focus on long-term opportunities and recommend staying the course, rather than focussing on short-term volatility.

Even as equity markets around the globe recover from falls of around 2.5 per cent since last week, experts are divided on whether we're seeing a short-term correction or a systemic return of volatility.

Premier is acting on threats to oust the board of Myer with a request for the department store chain's shareholder register in a first step towards holding a vote to install new directors.

Commonwealth Bank's half-year profit has fallen 1.9 per cent to $4.735 billion after Australia's largest bank set aside cash for potential penalties in its Federal Court tussle with AUSTRAC.

Steve Wendel, Morningstar's head of behavioral sciences, offers some tips for staying rational amid market volatility.

This quintet of companies are all trading below their fair value and hold substantial competitive advantages, according to Morningstar's Australia / New Zealand equity research team.

Fund manager Magellan Financial Group has lifted first-half underlying profit as it grows its funds base and takes over two fund managers, including Australian operation Airlie.

Macquarie Group expects to lift full-year profit by about 10 per cent on last year's record $2.2 billion.

Mark LaMonica looks back at what happened on Morningstar.com.au in January, with a focus on commentary surrounding the recent market declines.

Here are two ASX-listed firms which are riding the wave of overseas students who are coming to Australia to study.

This is not a time to be brave, Morningstar's Peter Warnes says in response to the US market sell-off, with more downside likely to develop over the next few weeks/months. 

Synchronised global growth and strong commodities form a positive backdrop for Australian equities in 2018, says Randal Jenneke of T. Rowe Price.

The US stock market had its worst day in two years on Friday, triggering Asian and European markets to sell off too--what should investors do?

Investors need to keep last week’s falls on Wall Street in perspective, with a more concentrated effect anticipated for Australian companies, writes Investors Mutual's Anton Tagliaferro. 

Morningstar analyst insights on the oil price uptick, tips on managing money in 2018 and Australia’s childcare investment opportunity were among the most-read articles on Morningstar.com.au.

Russia is tipped for a recovery after a poor 2017. The stocks are cheap and the fundamentals are compelling, according to investment professionals interviewed for this Morningstar, UK article.

Telstra will take a $273 million hit in its first-half results after writing off the value of its US streaming business.

Infant formula, baby food, and milk powders supplier Wattle Health is expanding its presence in Asia, securing its first order from Macau just a day after breaking into the India market.

Australia's financial regulator says its inquiry into CBA will pay particular attention to issues including how the lender treats risk and pays its executives as the probe enters its final months.

Trump's desire for trade agreements to be "fair and reciprocal" will mean a race to the bottom in the inputs that determine a country's competitive advantage.

Building materials supplier James Hardie has booked a nine per cent drop in third-quarter profit after the company paid down debt and recorded an increase in income tax expense.

More than $10 billion flowed into Australia's exchange-traded products sector in 2017, which grew 39 per cent to $35.4 billion over the year.

How the Brent crude price rise to almost $70 a barrel affects Morningstar's outlook for the likes of Woodside and Santos, and have investors left it too late.

The childcare sector's $3 billion government funding boost from July 2018 creates compelling investment opportunities--these are Morningstar's recommended exposures.

Trump's desire for trade agreements to be "fair and reciprocal" will mean a race to the bottom in the inputs that determine a country's competitive advantage.

Australian investors have favoured blue chip stocks and bond surrogates during the protracted post-GFC market recovery, but other companies now drive growth, says Bennelong's Julian Beaumont.