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19 May 2024
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In the six months of my battle with brain cancer, one part of financial markets has fascinated me, and it’s probably not what you think. What's led the pages of my reading is real estate, especially residential.
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A Senate Committee reported back last week with a majority recommendation to pass the $3 million super tax unaltered. It seems that the tax is coming, and this is what those affected should be doing now to prepare for it.
Shoppers are cutting back spending at supermarkets, gyms, and bakeries to cope with soaring insurance and education costs as household spending continues to slump. Renters especially are feeling the pinch.
The recent bank reporting season saw all the major banks report solid results, large share buybacks, and very low bad debts. Here's a look at the main themes from the results, and the winners and losers.
What is the catalyst for smalls caps to start outperforming their larger counterparts? Cheap relative valuation is bullish though it isn't a catalyst, so what else could drive a long-awaited turnaround?
'Putting your affairs in order' is a term that is commonly used when people are approaching the end of their life. It is not as easy as it sounds, though it should not overwhelming, or consume all of your spare time.
By 2028, all Baby Boomers will be eligible for retirement and the Baby Boomer bubble will have all but deflated. Where will this generation's money end up, and what are the implications for the wealth management industry?
Welcome to Firstlinks Edition 560 with weekend update 8
The Albanese Government delivered its third Budget on Tuesday, and we break down the key numbers, policies, and economic forecasts, as well as draw some conclusions, including for superannuants and retirees.Read More.
There's been little debate on how spending changes as people progress through retirement. Yet, it's a critical issue as it can have a significant impact on the level of savings required at the point of retirement.
As the world shifts away from one of artificially suppressed interest rates and cheap manufacturing, investors will need to carefully consider how companies are positioned to navigate the new higher-cost paradigm.
2024 looks set to be another year of reflation and geopolitical uncertainty — with the latter significantly raising the tail risk of a return to problematic inflation. That’s a supportive backdrop for commodities.
We're nearing the end of the financial year and it's time for SMSFs and other super funds to make the most of the strategies available to them. Here's a 24-point checklist of the most important issues to address.
How useful are the retirement savings and spending targets put out by various groups such as ASFA? Not very, and it's reducing the ability of ordinary retirees to fully understand their retirement income options.
As long as the banks have no desire to pay up for term deposit funding - which looks likely for a while yet - investors will continue to pay a premium for the higher yielding, but riskier hybrid instrument.
Despite being richer, surveyed measures of happiness have been flat to falling in Australia. Some suggest we should focus less on GDP and more on broader measures of wellbeing, though there are pros and cons to that approach.
Market consensus is that the US Federal Reserve will cut interest rates well ahead of the RBA. The latest data has cast doubt on this, raising the prospect of an earlier RBA cut to prop up a faltering economy.
The Chinese economic model needs an overhaul and a currency devaluation is one way for the country to restructure. If a devaluation happens, it will have significant ramifications for Australia and the world.
The consumer price index is supposed to reflect the cost of living but no longer does. The ABS publishes other estimates that provide a more accurate picture of our living expenses, and how much they've recently risen.
On December 9, 1983, the Hawke Labor Government made the momentous decision to float the Australian dollar. This looks back at the history behind the decision and how it's served the country well since.
China’s economic slowdown and the resilience of the US dollar have dimmed the lustre of many Asian economies’ strong growth momentum in the past year. But heading into 2024, Asia's growth story should reignite.
If you’re like me, you may have put money into term deposits over the past year and it’s time to decide whether to roll them over or look elsewhere. Here are the pros and cons of cash versus other assets right now.
It's no secret that Australian commercial property has endured its most challenging period since the GFC. Yet, there are encouraging signs that the worst may be over and industry returns should improve in the medium term.
Allan Gray's Simon Mawhinney thinks two groups with huge influence over our public companies often fall short of helping shareholders. In this interview, Mawhinney also talks boards, takeovers, and active investing.
Growth investors are using Buffett to justify buying blue chip stocks at almost any price. It’s a recipe for potential disaster, as investors in market darlings like CBA and Cochlear may be about to find out.
With Australia’s population moving through the fastest rate of growth since the 1950s, our cities and towns are naturally densifying. This is a look at the latest trends and how they will impact the property market.
Nvidia has taken the world by storm and is now the third largest stock on the planet - larger than Meta, Amazon, and Alphabet. Here is the latest take on Nvidia from a fund manager who first invested in the company in 2016.
A new report suggests that Australians are ill prepared for the largest intergenerational wealth handover in history. It's estimated $3.5 trillion in assets will be transferred from Baby Boomers to their children by 2050.
In less than five years, all Baby Boomers will be eligible for retirement and the Baby Boomer bubble will have all but deflated. What happens next, and what are the implications for the wealth management industry?
There are a lot of vague statements about the costs of financial advice in Australia. This insider's knowledge shows the actual costs are skyrocketing but demand for financial advice remains strong.
Should you give your children their inheritance before you die? It's a thorny question asked more often as Baby Boomers in Australia grow older and die richer. Do they leave larger bequests or help buy the kids a home?
Most people do not spend enough time thinking about achieving the best outcomes from their estate or gifts and loans before they die. Consider a trust to look after the needs of all your descendants, forever.
An actuary warns of the frustrations he experienced as executor of his brother's will, a role he expected to be straightforward. He knew super does not automatically form part of an estate but there are traps for all to learn.
In a recent interview, Morningstar CEO Kunal Kapoor explains why low-cost investing wins, how artificial intelligence and ESG will bring lots of opportunities, and why distractions are an investor's worst enemy.
The distortions in our tax system have been ignored for too long, and we're now paying the price. It's time Australia got real and addressed the problems to prevent an even greater intergenerational tragedy.
We interviewed Sir Michael Hintze while his credit-focused hedge fund CQS was at the height of its powers. Since then, he's changed the firm's investment strategy and found a buyer in Canadian giant, Manulife.
The dream of many investors is to be able to live off the dividend income from their shares. There is a relatively simple way to do this though it requires a mental fortitude that may not be for everyone.
Traditionally, equity income funds buy high-dividend companies but earnings growth should be a key component of an investment strategy. Receiving income from selling call options compensates for the lower dividends.
Harry Markowitz died last week at the age of 95. He was the 1990 Nobel Laureate and the father of Modern Portfolio Theory. He explained to me the magic moment when he realised how risk-return in portfolios works.
Recently, I learned that an investing book I bought for $32 in 2010 can now be sold for at least $832. The question I’m now pondering is whether I should turn a passion for books into a business, or will that just spoil the fun?
Microsoft, Alphabet, and Meta will spend more on capital expenditure this year than Australia’s entire private sector. It raises questions about whether the ASX’s dividend fetish may be good for shareholders but bad for the country.
First Sentier’s decision to hand $14 billion back to investors is a further sign of fund managers grappling with the exponential rise of ETFs. Yet it comes as the ETF industry may be sowing the seeds for its own future downturn.
Did you know the resources sector was once 65% of the Australian market? Or that CSR was our 2nd largest stock? Here's a look at the ebbs and flows of ASX stocks and sectors through time, and what it may mean for the future.
There are five ways to get really rich: a highly paid career, having equity in a business, the Bank of Mum and Dad, luck, or a combination of these. We run through the hardest and easiest routes to becoming wealthy.
Our priorities and values change as we get older from both the ageing process and because we become fundamentally different people. It means our financial goals are likely to shift, often dramatically, through time.
With the Treasury Department's review of superannuation in retirement, decumulation is firmly on the agenda, yet advisors have been grappling with this issue for years. So, what could super funds learn from advisers?
Stocks always outperform bonds in the long-term, right? New research challenges that assumption, raising questions about historical financial data, and forecasts for future performance from the two largest asset classes.
Key takeaways from this year include economic outlooks have limited usefulness in positioning portfolios, and there’s a difference between falling prices and cheap assets, and that difference matters a great deal.
UniSuper and AustralianSuper are large, complex investment businesses, and it's worth taking a look under the hood before making an investment decision. This looks at the growing trend of bringing investment management in-house.
It's impossible to predict when the next recession will happen. That said, looking at which types of investments have historically fared best during economic downturns can help you limit some of the damage.
It's carnage in bond markets now with bonds potentially heading for a third straight year of losses, something that hasn't happened over the past 100 years. Is this the beginning of a decades-long bond bear market?
Paul John Keating is a former Australian politician who served as the 24th Prime Minister of Australia, in office from 1991 to 1996 as leader of the Labor Party.
Phil Ruthven is the founder and director of IBISWorld, Australia's best-known business information, forecasting and strategic services corporation
Investor Briefing Event Series - 29 May- 27 Jun 2024 Brisbane, Adelaide, Perth, Melbourne, Sydney.
reduces fees to bolster long term retirement outcomes for members.
commits up to USD400 million to Macquarie renewables fund.
Australians don't need dodgy schemes in Caribbean islands to hide their wealth. There are plenty of legal ways to avoid paying tax but they will leave personal income tax carrying a heavy burden for future generations.
People love new things, and investors are no different. But there's something to be said for older businesses that have a proven formula for success, and here are nine ASX-listed stocks that fit the bill.
While the ATO has many ways to watch taxpayer transactions and ensure tax is collected, for some unknown reason, it is legal to select from four different cost base treatments for capital gains tax. It's costing billions.
Returns from the major banks haven't been great over the past ten years, though that could change with higher rates, less competition and cost savings opportunities. Some banks look better value than others.