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19 July 2025
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Australian-based investors have been perplexed by the steep rise in CBA's share price But it's becoming clear that US funds are buying into our largest bank as a hedge against potential QE and further falls in the US dollar.
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Markets have weathered geopolitical turmoil, hitting near record highs. Investors face tough decisions on valuations, asset concentration, and strategic portfolio rebalancing for risk control and future returns.
Soaring house prices are deepening Australia's cost of living crisis - and possibly distorting marriage decisions. New research links unexpected price changes to whether couples separate or silently struggle together.
Artificial intelligence is forcing Google to rethink search - and its future. As usage shifts and rivals close in, will it adapt in time, or become a cautionary tale of disrupted disruptors?
The surge in passive investing doesn’t just mirror the market—it shapes it, often amplifying the rise of the largest firms and creating new risks and opportunities. For investors, understanding these effects is essential.
Economists have long flagged the idea of swapping property taxes for land taxes for fairness and equity reasons. This looks at why what seems fairer may not deliver the outcomes that we expect.
Many of the behaviours that have made humans such a successful species also make it difficult for us to be good, long-term investors. The key to better decision making is to understand what makes us human and adapt.
Welcome to Firstlinks Edition 620 11
In the first two years of the Albanese government, federal public service numbers ex-defence force increased 57%. Though much of this rise is questionable, larger problems of government bloat may lie elsewhere.Read More.
There are many ways to invest in stocks, but some strategies are more effective than others. Here are nine tried and tested investment approaches - choosing one of these can improve your chances of reaching your financial goals.
Forget speculation about a future US-China conflict - it's already happening. Through cyberwarfare and propaganda, China is waging a grey war designed to weaken democracies without firing a single shot.
With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains.
An ANU study has found that families with at least one super balance over $3 million have average wealth exceeding $19 million - suggesting most are well placed to absorb taxes on unrealised capital gains.
SMSFs have managed to match, or even outperform, larger super funds despite adopting more conservative investment strategies. This looks at how they've done it - and the potential policy implications.
US mega-cap tech stocks have dominated recent returns - but is familiarity distorting judgement? Like the Monty Hall problem, investing success often comes from switching when it feels hardest to do so.
As the US debt ceiling looms, the usual warnings about a potential crash in bond and equity markets have started to appear. Investors can take confidence from history but should keep an eye on two main indicators.
As inflation eases, the Albanese government is switching its focus to lifting Australia’s sluggish productivity. Can corporate tax cuts reboot growth - or are we chasing a theory that doesn’t quite work here?
The US economy faces an unprecedented clash in leadership styles, but the President and Fed Chair could both take a lesson from the other. Not least because the fiscal and monetary authorities need to work together.
America prides itself on being a Government of the people. But the nation that invented modern democracy is no longer the model for it, and compares unfavourably to other regions where democracy is taking hold.
A new study challenges the notion that Government spending is wasteful - public investment can yield major long-term economic gains, often outperforming private investment in driving GDP growth.
Behind market volatility and tariff threats lies a deeper strategy. Trump’s real goal isn’t trade reform but managing America's massive debts, preserving bond market confidence, and preparing for potential QE.
Markets are reassessing the impact of AI, with initial euphoria giving way to growing scepticism. This shift is evident in the performance of ASX-listed AI beneficiaries, creating potential opportunities.
Concerns over the US fiscal position seem to have overtaken geopolitics and interest rates as the biggest tailwind for gold prices. Even if a debt crisis doesn't seem likely, there could be more support on the way.
With further RBA rate cuts forecast this year, small caps may be key beneficiaries. There are quality small cap LICs and LITs trading at discounts to net assets, offering opportunities for astute investors.
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.
Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.
Farmland prices have flatlined, bringing one of the most dramatic rural property cycles in Australian history to an end. The market for agricultural land now seems to be entering a new and more nuanced phase.
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.
For much of Australia’s history, each new generation has been better off than the last: better jobs and incomes as well as improved living standards. A new report assesses whether this time may be different.
Inspired by the papal conclave, this explores how families can avoid post-death drama through honest conversations, better planning, and trial runs - so there are no surprises when it really matters.
Trusts offer flexibility and asset protection, but in relationship breakdowns, courts can 'look through' them. Understanding control, purpose, and asset origins is key to preserving trust benefits in family law disputes.
Life expectancy isn't just a number - it's a concept that changes with survival rates over time. This article breaks down how age, survival, and societal factors shape our understanding of life expectancy, especially post-Covid.
Lately, there's been a push by Government for lifetime income streams as a solution to retirement income challenges. We run the numbers on these products to see whether they deliver on what they promise.
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.
Despite a recent pullback, gold has been one of the best performing assets this year. What are the key factors behind the rise and what's needed for the bull market in the yellow metal to continue?
MFS chief investment officer and CEO elect Ted Maloney talks market risks, similarities between Trump and Harris, and the most important thing investors can do to avoid destroying value.
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.
In 2025, the dominant consensus trade has gone from being long US assets to long almost everything else. It’s not often a market narrative changes that fast, so how can investors tell if this one will last or not?
Stocks had a topsy-turvy first half of the year though ended solidly, while bonds dumped and commodities were mixed, with gold being the star performer. What’s ahead for markets in the second half and 2026 fiscal year?
The US is in a debt trap, bond markets will soon break, and private credit is like the US mortgage market in 2005 – these are the pessimistic views of two Wall Street legends, Paul Tudor Jones and Jeffrey Gundlach. Are they right?
In a new report, Schroders ranks the US as the most vulnerable country to a government debt crisis among G20 nations. Australia isn’t far behind in fifth place and is considered riskier than Turkey, Argentina, and Russia.
We hear a lot about the negative effects of our ageing population on future Government budgets and economic growth. However, new research suggests that the problems may be overblown and there’s a positive story to ageing.
A new study has found the median drawdown for individual US stocks over the past 40 years is an astounding 85%, and more than half of the companies never get back to all-time highs. This looks at the lessons for individual investors.
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.
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.
Shani Jayamanne takes a deliberately uninterested approach to investing. She outlines the technical and circumstantial reasons for why she goes against the grain and focuses on the real drivers of investment success.
Why do people have trouble shifting from a saving to spending mindset in retirement? Researchers have plenty of theories though can't identify an exact cause, nevertheless there are things that can enable the shift.
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.
Investment podcast with Lou Capparelli – July 2025.
series of national briefings, 31 Jul - 14 Aug, major cities.
ASX:VAS hits $20 billion: Australia’s largest ETF continues to lead the way.
Australia boasts one of the world's highest dividend yielding sharemarkets, providing substantial benefits to investors and retirees. Despite this, individuals often stretch for even more yield, to their detriment.
Borrowing to invest provides greater exposure to the share market and its potential gains or losses, as well as more associated franking credits. However, there are additional risks and costs to consider.
Kerry Packer managed his companies to minimise their tax. He would have loved super and franking credits. A super fund needs only 32% allocated to fully franked shares to pay no income tax on its entire portfolio.
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.