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19 March 2026
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With the upcoming budget increasingly likely to include bold proposals to alter the tax code I’ve outlined three incremental steps with fewer unintended consequences.
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The impact of the Iran War is far more than expensive petrol. Higher oil prices have secondary inflationary impacts that reverberate throughout the economy which could be bad news for Australians with mortgages.
Global Listed Infrastructure dividends are forecast to grow 5-6% p.a over the next two years. After a hiatus, share buybacks are back on the agenda and will play an integral role in shareholder returns.
Past oil shocks offer lessons for investors dealing with the fallout from the Iran War and the ongoing impact on inflation.
Former Australian Prime Minister, Paul Keating, once said "When you change the government, you change the country." We're about to see whether that holds true in Japan.
Central banks now hold more gold reserves than US Treasuries, signalling a shift in safe-haven asset strategy and portfolio diversification as geopolitical risks increase.
Historically economic progress is measured by GDP growth but there is an increasing body of work that explores quantitative measures of wellbeing.
Welcome to Firstlinks Edition 653 with weekend update 2
Is the consensus on AI too conservative? A recent report from Vanguard indicates there will be a greater effect on productivity than most expect. The implication on investors may be profound.Read More.
Retirement planning is more than just saving enough money. Long-term care needs, housing choices, and social networks are just as critical for a happy and enjoyable life.
Knowledge is becoming commoditized in the age of artificial intelligence but experience, taste, and judgement are still at a premium.
Recent price spikes, particularly gold's surge, trigger behavioral responses like availability bias, storytelling, extrapolation, and FOMO, which create self-reinforcing feedback loops influencing investor sentiment and market trends.
An ageing Australia is shifting the superannuation system’s focus from accumulation to the lifecycle of retirement. While these pressures have been anticipated for decades, they are now converging at scale and driving widespread industry change.
Evidence for a strong reporting season had been piling up for months and validated an upgrade cycle already underway. However, risks remain from policy uncertainty.
One in five Australians die before retirement and most have not set up their super properly so their loved ones can benefit from all their hard work and savings.
The 20 years after Peter Costello left Treasury have been deemed wasted...by Peter Costello. The missed opportunities for Australia began long before.
The impact of energy policy on inflation in Australia is often overlooked. Transitioning to renewable energy can lead to inflated costs that affect the entire economy and productivity growth.
In 2026, Europe is poised for a 'Goldilocks' scenario with cooling inflation and lower rates, driven by fiscal stimulus. Small caps offer an attractive entry point before capital rotation.
The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.
The renowned investor says 2025’s real story wasn’t AI or US stocks but the shift away from American assets and a collapse in the value of money. And he outlines how to best position portfolios for what’s ahead.
The US has elevated energy to a national security priority, tying cheap, reliable power to economic strength, AI leadership, and sovereignty. This analyses the new framework and its implications for Australia.
An ‘affordability’ scheme making the county more vulnerable to economic shocks and contributing to the deteriorating financial situation of everyday Australians.
The Reserve Bank continues to face criticism from all sides. A reminder of the RBA's mandate and a review of their track record in maintaining price stability since the early 1990s.
The sector is positioned to benefit from defensive and resilient income streams supported by embedded rental increase opportunities.
There is a laundry list of government schemes to help Australian's struggling with housing affordability. Savvy buyers should take advantage to break into the property market.
A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.
A counterpoint to today’s prevailing narrative that Melbourne is the capital of a failing state defined by its strained public finances, COVID hangover and an opposition obsessed with undermining its own credibility.
Financial advice can lead to improved financial literacy, a healthier super balance and a higher standard of living in retirement. Is now the time to give yourself the gift of financial advice?
Good advisers lead to more diversification, lower turnover and less home bias. However, studies show the average adviser may not be adding much value to clients.
Investors have historically balked at exchanging a lump sum for a future steam of income. Breaking down the financial and emotional considerations of purchasing an annuity.
Australia needs a major shift in longevity awareness, attitudes and behaviour if, as a community, we are to reap the benefits of increasing longevity. Adopting a national strategy is well overdue.
With fertility rates at a record low, many say young people aren’t having kids because they’re too expensive. Turns out, it’s not that simple and there are likely other factors at play.
The $3 million super tax has many rethinking their super strategies, especially issues of wealth transfer on death. This reviews the taxes on super benefits and offers investment alternatives.
CEO Simon Doyle is retiring after 38 years in the finance industry. In an interview with James Gruber, he shares the three main lessons he’s learned, and where he sees opportunities and risks in markets today.
As investors seek to diversify their portfolios, more are looking at private equity to help them do that. Neuberger Berman's Gabriel Ng runs through the different types of private equity and their benefits and trade-offs.
In an interview with Firstlinks, CEO Mark Freeman discusses how speculative ASX stocks have crushed blue chips this year, companies he likes now, and why he’s confident AFIC’s NTA discount will close.
As more money looks for a home outside the US, Asia may soon get some love. Fidelity's Anthony Srom outlines the best places in Asia to invest, including in Chinese consumer names, Indian financials, and Thailand.
Stockland’s development chief discusses supply constraints, government initiatives and the impact of Japanese-owned homebuilders on the industry. He also talks of green shoots in a troubled property market.
Portfolio Manager Ted Alexander outlines the changes that he's made to Platinum's International Fund portfolio since taking charge in March, while staying true to its contrarian, value-focused roots.
Is the consensus on AI too conservative? A recent report from Vanguard indicates there will be a greater effect on productivity than most expect. The implication on investors may be profound.
Everyone has something to say about the impact on markets from the war against Iran. Little of this commentary has added much value.
The market seems increasingly jittery with contradictory predictions about AI flooding in daily. An approach to step back and keep focus.
A study of expert investors reveals how we can all achieve better investment returns.
Anxiety continues to rise about the impact of AI. Doomsday scenarios include the demise of previously thriving industries like software and the widespread loss of white-collar jobs. Is the universal basic wage the answer?
This is my last edition as Editor of Firstlinks. I’m moving onto a new role though the newsletter will remain in good hands until my permanent replacement is found.
Retail investors have the worst trading record, according to a study of trading performance. Institutional investors weren't at the top either. Here are 6 ways to improve your odds.
New research explains why high valuations, low dividends and bullish sentiment rarely coexist with strong long-term returns after extended bull markets.
Leveraged ETFs seek to deliver some multiple of an underlying index or reference asset’s return over a day. Yet, they aren’t even delivering the target return on an average day as they’re meant to do.
Both active and passive investing can work, but active investment doesn’t in the way it is practised by many fund managers and passive investing doesn’t work in the way most end investors practise it. Here’s a better way.
How does a strategy built around systematically buying-and-holding a basket of the market's biggest losers perform? It turns out pretty well, so why don't more investors do it?
The structure of many dividend ETFs leads to lacklustre or non-existent dividend growth. Balancing high yields with long-term dividend growth is essential for effective income investing.
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Investment podcast – March 2026.
Video: Investment update with John Pearce – February 2026.
launches new active ETF, the VanEck Cash Plus Active ETF (ASX: MONY).
You can’t freely withdraw your super before 65. You need to meet certain legal conditions tied to your age, whether you’ve retired, or if you're using a transition to retirement option.
The RBA's prescription to hike rates may not work to lower inflation into the bank’s 2-3% target band. If anything, there appears to be a positive correlation between interest rates and inflation.
Markets have become instrumental in finding new ways for investors and philanthropists to make a social impact with the potential for good returns.
One of Buffett's most successful investments has been a confectionery company that he bought more than 50 years ago. The investment demonstrates that stocks need not be growth companies to create fortunes.
For those with the patience to own an investment as volatile as the AI sector, buying and holding a stock basket might make sense. However, based on internet stocks’ history, you need not rush to do so.
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.