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Wednesday, 19 February 2020
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The strong market has challenged value investors who want to buy at lower prices, but there are signs 2020 will continue a 'sweet spot' of profit growth, low inflation and central bank liquidity support.
A shock to a portfolio at the wrong time can compromise a retirement plan where cash must be withdrawn each year. There are funds which attempt to trade some of the upside to reduce the downside.
Markets are overlooking the obvious risks as traders pass the parcel to the next buyer. Even central bankers believe: “There is something vaguely troubling when the unthinkable becomes routine.”
Let's face it. Prices for many listed and unlisted companies have reached insane levels. Many of Australia's most reputable and successful fund managers are bewildered by the current market, and something's got to give.
Uber is the largest loss-making startup in history, and while investors will climb aboard the IPO and return money to early investors, the stockmarket will eventually realise there is no identifiable path to Uber profitability.
The biggest concern that many analysts ignore is that, after house prices begin falling, the savings ratio climbs, reflecting a lack of consumer confidence, leading to a rapid slowdown in the economy.
An active manager of cash and fixed interest funds can achieve higher returns than the cash rate through a selection of other securities while managing both liquidity and income for clients.
Handling extreme winners is a complex task. Conventional wisdom such as “you never go broke taking a profit” often leaves a lot of money on the table as strong growth stocks continue to run.
Differences of opinion make a market, and hybrid specialists disagree on the likelihood that NAB will call one of its hybrids early. It makes a major difference to the expected return on NABHA.
Our retirement savings system is supposed to encourage financial independence but there is a ‘Retirement Trap’ due to the reduction of age pension entitlements as assets and income rise.