Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Register

8 January 2026

Home / 250

Cuffelinks Newsletter Special Edition 250

  •   27 April 2018
  •      
  •   

This week, Cuffelinks publishes its Special 250th Edition ebook with over 30 market experts sharing a mistake which made them better investors. From the start in 2013, Cuffelinks has committed to independent financial journalism, bringing insights from hundreds of finance professionals to our community of over 37,000 readers.

It's an important time to learn these lessons, as the 88-year-old founder of Vanguard, Jack Bogle, recently said in a CNBC interview:

"I have never seen a market this volatile to this extent in my career. Now that's only 66 years, so I shouldn't make too much of it."

Cuffelinks Special 250th Edition free ebook is linked here.



The Royal Commission steamrolls on

After another shocking week that revealed the worst of the financial advice industry, the Royal Commission has a stark issue in its headlights: how should advice and product be separated to ensure advisers act in the best interests of their clients? Many quality advisers who operate fee-for-service businesses feel all financial advice has been been tarnished by the revelations of the last two weeks. 

Faced with enough material to fill a book, we have broken down a few issues: how the Commission set the tone to expose wrongful advice; what is grandfathering and why is it under threat; and the likelihood of regulations relating to percentage-based fees. We have extracted transcripts of witness statements so readers can make their own judgements.

We also share the feedback from readers received last week, and as background information, we reprise an article written by Harry Chemay in 2014 which explains how FOFA works. An independent adviser, John Leske, offers his views on the current regulations and how financial advice should be restructured.

Tim Fuller provides a short summary of the Commission's forensic dissection of the Henderson Maxwell business (recently acquired by AZ New Generation Advisory). This independent business directed 84% of its clients into its own managed account. It demonstrates that the advice issues are not confined to the big banks and AMP, with some smaller independents having their own versions of vertical integration, or as they prefer to call it, 'leveraging their eco-system'. 

Thanks to subscribers, authors and sponsors for helping Cuffelinks to reach 250 editions.
 
Graham Hand, Managing Editor

 

Edition 250 | 27 Apr 2018 | Editorial | Newsletter

 

  •   27 April 2018
  •      
  •   

 

Leave a Comment:
Firstlinks is sponsored by:
banner

Most viewed in recent weeks

Australia's retirement system works brilliantly for some - but not all

The superannuation system has succeeded brilliantly at what it was designed to do: accumulate wealth during working lives. The next challenge is meeting members’ diverse needs in retirement. 

Australian stocks will crush housing over the next decade, 2025 edition

Two years ago, I wrote an article suggesting that the odds favoured ASX shares easily outperforming residential property over the next decade. Here’s an update on where things stand today.

The 3 biggest residential property myths

I am a professional real estate investor who hears a lot of opinions rather than facts from so-called experts on the topic of property. Here are the largest myths when it comes to Australia’s biggest asset class.

Get set for a bumpy 2026

At this time last year, I forecast that 2025 would likely be a positive year given strong economic prospects and disinflation. The outlook for this year is less clear cut and here is what investors should do.

AFIC on the speculative ASX boom, opportunities, and LIC discounts

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.

Property versus shares - a practical guide for investors

I’ve been comparing property and shares for decades and while both have their place, the differences are stark. When tax, costs, and liquidity are weighed, property looks less compelling than its reputation suggests.

Latest Updates

Superannuation

Meg on SMSFs: First glimpse of revised Division 296 tax

Treasury has released draft legislation for a new version of the controversial $3 million super tax. It's a significant improvement on the original proposal but there are some stings in the tail.

Investment strategies

10 fearless forecasts for 2026

The predictions include dividends will outstrip growth as a source of Australian equity returns, US market performance will be underwhelming, while US government bonds will beat gold.

Infrastructure

How many hospitals will an extra 1 million people need?

We're about to add another million people to cities like Brisbane, Sydney, and Melbourne. How many hospitals and other essential infrastructure are needed to cater to a million more people? This breaks down the numbers.

Risk management

Is the world's safest currency actually the riskiest?

The US dollar’s long-standing role as a ‘shock absorber’ during times of market stress is showing cracks. The ‘Liberation Day’ sell-off was a timely reminder of this, and here's what investors should do about it.

10 things I learned about dementia and care homes from close range

My mother developed dementia before eventually dying in June last year. She was in three aged care homes before finding the right one. Here is what I learned along the way.

Economics

China's EV and solar backlog and future trade wars

China has flooded the world with electric cars and solar panels to offset the economic drag from a weak domestic property market. How long can this go on, and what are the implications for commodities and Australia?

Investment strategies

Why Elon Musk's pay packet is justified

Tesla copped criticism after its shareholders approved a package allowing Musk to earn up to $1 trillion in stock options. If only Australian businesses were more like Tesla.

Sponsors

Alliances

Site Map

About Firstlinks

© 2026 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.