One of the founding fathers of blockchain technology and an expert in cryptography and distributed computing first mentioned in 1991 a blockchain that utilised digital time-stamps for ordering transactions.
Archive | Investment Strategies
Is it time for ‘set and forget’ to consider retirement?
Sticking to a long-term ‘set and forget’ asset allocation plan forgets those close to or in the retirement phase. Further, we are at a point where prospective returns in all markets are lower.
Investors expect ESG issues to drive returns
Both retail and institutional investors are demanding fund managers respond to ESG issues. A new generation will insist on better standards and will not accept a compromise in returns.
A better way to measure Australian small caps
Inefficiencies in the small caps index means outperformance is common but that should not cost 60% more in fees than large caps. Large caps have outperformed small caps over the long term but with significant variability.
Five lessons from football and investing
A former professional footballer draws five lessons from his sporting life into his current career in finance. Success in one year in no way ensures that the next time will be any easier.
The voting machine and the weighing machine
Long-term earnings matter the most to stock prices over the long run. Trying to time short-term fluctuations is folly, but we can pick the times when movements are disharmonious with earnings.
Turbulence creates opportunities for bonds and hybrids
Factors relating to technical adjustments, timing of bank reporting and offshore influences have created wider spreads on bonds and hybrids which should mean revert in time.
Reports of the death of economic cycles are greatly exaggerated
Since the 1950s, predictions on the death of economic cycles have come and gone, and each time they have been wrong. But since no two cycles are the same, we ought to look for what’s different this time.
What is happening with LIC dividends?
LICs can sustain their dividends not only from current year profits, but from reserves built up in prior years. This report looks at reserve levels as a sign of consistency of future dividends.
Franking: never mind the logic, let’s obfuscate
The logic on Labor’s franking policy demands an answer to one question: how does a franking credit refund differ from an employee receiving a PAYG refund after putting a tax return?
Overcoming loss aversion in retirement income
Loss aversion means some people avoid annuities because a premature death may lead to a loss of capital, but lifetime annuities with death benefits aim to address this problem.
ETFs firmly established in the mainstream
The future of ETFs appears strong as the millennials increase their share of the investment pie, and the majority of financial advisers now comfortable with ETFs.
Higher funding costs loom for lower quality assets
Higher volatility, higher funding costs, US rate rises with AUD interest rates decoupling, Quantitative Tightening, maturing bond reinvestment flows all point to a difficult 2018.
Impact on hybrids of Labor’s franking policy
Doubts about the value of franking credits under Labor’s proposed policy have already led to a rise in spreads on hybrids, which might throw up good investment opportunities.
