Superannuation members have been getting a great deal, but this is clearly not sustainable, and many superannuation funds are finding their insurance premiums rising significantly.
Managing credit risk requires healthy dose of cynicism
In the world of credit risk, you need to understand the capacity of the borrower to pay what they’ve promised, then assume that they will let you down anyway and avoid concentrating your portfolio.
Ben Graham’s three most enduring principles
In the short term, the market is a popularity contest, where prices often diverge significantly from that which is justified by the economic performance of the business. But in the long term, prices follow business performance.
Are rising oil prices bad for Australian shares?
Rising oil prices may sound scary to investors, but if we go beyond the popular myth and look at the facts, we see a very different picture. Rising oil prices are more often accompanied by rising stocks.
Sir Michael Hintze: to whom much is given, much is expected
There is a potential trading opportunity in every major event, natural or man-made. But whatever you do, it’s important to make a positive difference with your life, according to this Australian legend of the hedge fund industry.
The politicians we voted for, the politicians we deserve
The critical point is that the number of first preference votes cast for minor parties in Victoria was greater than one quota. We got what we voted for, and the system allowed minor party voters to deny a major party seat.
Invest like Buffett? Diversification, Part 2
How is Buffett anything like a 60-year-old retiree who either cannot or does not want to work full-time anymore? Despite what the books say, you can’t ‘invest like Buffett’ and focus on preservation of capital in retirement.
Give this risk the credit it deserves
The risk that bond investors should be most concerned about is credit risk. Market risk does not produce a permanent loss of capital, and higher yields result in increasing returns over time.
Not all lifecycle funds are created equal
There are important features which distinguish the different lifecycle offerings and they can have a significant impact on member outcomes. Rating agencies will need to adapt their processes versus normal balanced funds.
Three things I’ve learned from Warren Buffett
Bill Gates went to the annual Berkshire Hathaway shareholders meeting. He posted his thoughts on LinkedIn: “It’s also fun because I get to learn from Warren and gain insight into how he thinks.”
A fundamental flaw in the Australian retirement system?
The range in post-retirement standards of living is highly likely to be viewed as unacceptable by retirees who have been forced to defer part of their income to retirement savings. Here’s a possible solution.
Cuffelinks on SMSFs and property featured in Weekend Business in Sydney Morning Herald, 31 August 2013
The Sydney Morning Herald reports from the Cuffelinks article on SMSFs and property spruikers, highlighting some of the risks of a small SMSF taking on large amounts of debt, and becoming unable to meet its obligations. The full Cuffelinks article appears below.
SMSF property spruikers on borrowed time
SMSFs are being targeted by property marketers, but is a single, illiquid investment a good super strategy, with its associated leverage? ASIC is worried SMSF trustees are not seeing the full picture, so we went looking.
How institutional investors influence listed companies
Don’t judge the extent to which institutional investors influence listed companies by the big public event, the AGM. Private meetings with executives of listed companies are ongoing and lively.
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