Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 236

Summer Series Guest Editor, Greg Paramor AO

Cuffelinks' mantra is “Connecting investors with ideas” and it has certainly lived up to it over many years. When Graham asked me to pick five articles, it was like being asked to pick the best wines – no one will agree. Picking the best wine depends on your individual palate, the region, the grape variety, the acidity, the alcohol content to name a few. Picking the best articles depends upon whether you like equities, bonds, property or a combination, are you new to investing or a sophisticated investor, what’s your risk appetite, do you study the markets or are you a day trader.

I like to be challenged, I like innovation and I like looking over the horizon. I also like learning from history. The articles I have picked from the Cuffelinks vault reflect this.

Howard Marks on risk and how to handle it: Howard has an amazing insight into the markets with US$100 billion under management. He consistently talks about risk. Whilst this article is a summary of a slide presentation he did in 2014, the message is timeless. As Howard said about risk “something to be managed and controlled, not avoided”.

My 10 biggest investment management lessons: Despite this article being written by Chris Cuffe for his own newsletter, I have a huge respect for Chris and what he has achieved in funds management. I have no doubt part of his success is that he lives and breathes these simple but insightful lessons. Many people make investing complicated but when you cut through the hype and euphoria, whether in a bull or bear market, all investors whether new or sophisticated, should never lose sight of the basics.

Business model disruption has barely begun: Parts 1 and 2: We are in a world of enormous change and disruption. Hamish Douglass’ articles provide an insight into the world of disruption and how companies old and new are adapting.

The evolution of Listed Investment Companies: Whilst LICS have been around since the 1920’s, the last few years has seen an explosion in the number of LICs and acceptance as a legitimate investment option by institutions, SMSFs, and mum and dad investors. Written four years ago, Chris Stott’s article concludes, “I believe that the momentum gained in recent years has scope to continue given the thematics for the sector.” Well, he certainly got that right.

Real estate social infrastructure coming of age: At Folkestone, we believe that real estate social infrastructure is a legitimate investment option. Adrian Harrington’s article back in 2015 (please excuse the self indulgence!) defined what comprises real estate social infrastructure, the drivers, the risks and different investment options. In recent years, both institutional and retail capital has flowed into this sector and childcare, seniors housing, student accommodation, health and medical facilities and government assets are no longer seen as the poor cousins to office, retail and industrial assets.

Greg Paramor is Managing Director of the listed property group, Folkestone (ASX:FLK). He is a past President of the Property Council of Australia and was awarded an AO in January 2015 for services to the not-for-profit sector and the real estate industry.


 

Leave a Comment:

RELATED ARTICLES

Beat the market: active ETFs v LICs v unlisted managed funds

Listed property headlines disguise full story

Have A-REIT share prices bottomed out?

banner

Most viewed in recent weeks

Are LICs licked?

LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.

Retirement income expectations hit new highs

Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?

Welcome to Firstlinks Edition 627 with weekend update

This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.

  • 4 September 2025

5 charts every retiree must see…

Retirement can be daunting for Australians facing financial uncertainty. Understand your goals, longevity challenges, inflation impacts, market risks, and components of retirement income with these crucial charts.

Why super returns may be heading lower

Five mega trends point to risks of a more inflation prone and lower growth environment. This, along with rich market valuations, should constrain medium term superannuation returns to around 5% per annum.

Super crosses the retirement Rubicon

Australia's superannuation system faces a 'Rubicon' moment, a turning point where the focus is shifting from accumulation phase to retirement readiness, but unfortunately, many funds are not rising to the challenge.

Latest Updates

Investment strategies

Why I dislike dividend stocks

If you need income then buying dividend stocks makes perfect sense. But if you don’t then it makes little sense because it’s likely to limit building real wealth. Here’s what you should do instead.

Superannuation

Meg on SMSFs: Indexation of Division 296 tax isn't enough

Labor is reviewing the $3 million super tax's most contentious aspects: lack of indexation and the tax on unrealised gains. Those fighting for change shouldn’t just settle for indexation of the threshold.

Shares

Will ASX dividends rise over the next 12 months?

Market forecasts for ASX dividend yields are at a 30-year low amid fears about the economy and the capacity for banks and resource companies to pay higher dividends. This pessimism seems overdone.

Shares

Expensive market valuations may make sense

World share markets seem toppy at first glance, though digging deeper reveals important nuances. While the top 2% of stocks are pricey, they're also growing faster, and the remaining 98% are inexpensive versus history.

Fixed interest

The end of the strong US dollar cycle

The US dollar’s overvaluation, weaker fundamentals, and crowded positioning point to further downside. Diversifying into non-US equities and emerging market debt may offer opportunities for global investors.

Investment strategies

Today’s case for floating rate notes

Market volatility and uncertainty in 2025 prompt the need for a diversified portfolio. Floating Rate Notes offer stability, income, and protection against interest rate risks, making them a valuable investment option.

Strategy

Breaking down recent footy finals by the numbers

In a first, 2025 saw AFL and NRL minor premiers both go out in straight sets. AFL data suggests the pre-finals bye is weakening the stranglehold of top-4 sides more than ever before.

Sponsors

Alliances

© 2025 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.