Blue Sky Alternative Investments Ltd's (ASX: BLA) share price has bounced 15% today at the time of writing to $2.89 but is still down 55% in a month. Despite the bounce, as earnings for the next year are uncertain it is not the time to invest and if you are an investor you could consider selling some shares as the future is unsure. The market update by the company a few days ago revealed the withdrawal of earnings guidance for FY18 and Fee Earning Assets Under Management guidance for FY18 and FY19. Blue Sky is a private equity investor that takes long term stakes in companies.
On the other hand, Macquarie Group Ltd (ASX: MQG), operating in the same sector, reported a net profit of $2.6 billion for FY18 as at 31 March 2018, which was up 15% on FY17. The result was above forecasts, resulting in a share price gain since the announcement of 5% to $113.97, at the time of writing. As the majority of earnings are from overseas, the company benefits from a weaker dollar.
