Ten Cap is siding with the consensus view on Australian equities heading into reporting season, flagging five headwinds from rates to earnings risk, but says selective stock picking can still uncover bright spots. In a recent note, founder and chief executive of the boutique manager Jason Todd said the firm is maintaining its cautious stance on Australian equities, in line with consensus. In a rangebound market, where the index remains trapped in a trading band, he argued that with fewer stocks driving gains, avoiding losers is just as important as picking winners.
