3 September 2026

Recently trending

Why have Australian living standards 'fallen' and how do we fix it?Will you run out of money in retirement?Four options for an income investor’s next dollar The investment that sidesteps the new tax traps Welcome to Firstlinks Edition 674 with weekend update

Noel Whittaker, author and financial adviser: "A fabulous weekly newsletter that is packed full of independent financial advice."

Reader: "I subscribe to two newsletters. This is my first read of the week. Thank you. Excellent and please keep up the good work!"

Reader: "It's excellent so please don't pollute the content with boring mainstream financial 'waffle' and adverts for stuff we don't want!"

Ian Kelly, CFP, BTACS Financial Services: "Probably the best source of commentary and information I have seen over the past 20 years."

Reader: "Best innovation I have seen whilst an investor for 25 years. The writers are brilliant. A great publication which I look forward to."

Eleanor Dartnall, AFA Adviser of the Year, 2014: "Our clients love your newsletter. Your articles are avidly read by advisers and they learn a great deal."

Scott Pape, author of The Barefoot Investor: "I'm an avid reader of Cuffelinks. Thanks for the wonderful resource you have here, it really is first class."

Reader: "Is one of very few places an investor can go and not have product rammed down their throat. Love your work!"

Steve: "The best that comes into our world each week. This is the only one that is never, ever canned before fully being reviewed by yours truly."

Reader: "The BEST in the game because of diversity and not aligned to financial products. Stands above all the noise."

Reader: " Finding a truly independent and interesting read has been magical for me. Please keep it up and don't change!"

Reader: "Keep it up - the independence is refreshing and is demonstrated by the variety of well credentialed commentators."

Reader: "Great resource. Cuffelinks is STILL the one and only weekly newsletter I regularly read."

Jonathan Hoyle, CEO, Stanford Brown: "A fabulous publication. The only must-read weekly publication for the Australian wealth management industry."

John Egan, Egan Associates: "My heartiest congratulations. Your panel of contributors is very impressive and keep your readers fully informed."

Reader: "Love it, just keep doing what you are doing. It is the right length too, any longer and it might become a bit overwhelming."

Professor Robert Deutsch: "This has got to be the best set of articles on economic and financial matters. Always something worthwhile reading in Firstlinks. Thankyou"

Andrew Buchan, Partner, HLB Mann Judd: "I have told you a thousand times it's the best newsletter."

John Pearce, Chief Investment Officer, Unisuper: "Out of the (many many) investmentrelated emails I get, Cuffelinks is one that I always open."

Rob Henshaw: "When I open my computer each day it's the first link I click - a really great read."

Reader: "Congratulations on a great focussed news source. Australia has a dearth of good quality unbiased financial and wealth management news."

Don Stammer, leading Australian economist: "Congratulations to all associated. It deserves the good following it has."

Reader: "Carry on as you are - well done. The average investor/SMSF trustee needs all the help they can get."

David Goldschmidt, Chartered Accountant: "I find this a really excellent newsletter. The best I get. Keep up the good work!"

Ian Silk, CEO, AustralianSuper: "It has become part of my required reading: quality thinking, and (mercifully) to the point."

Reader: "I can quickly sort the items that I am interested in, then research them more fully. It is also a regular reminder that I need to do this."

Reader: "An island of professionalism in an ocean of shallow self-interest. Well done!"

Home / Author: Romano Sala Tenna

Romano Sala Tenna

History says US market outperformance versus Australia will turn

Much has been made of how US markets, especially the NASDAQ, have significantly outperformed the ASX over the past two decades. History suggests the pendulum will swing back once again in Australia's favour.

Romano Sala Tenna
1 January 2026
10
5

Four best-ever charts for every adviser and investor

In any year since 1875, if you'd invested in the ASX, turned away and come back eight years later, your average return would be 120% with no negative periods. It's just one of the must-have stats that all investors should know.

Romano Sala Tenna
15 October 2025
23
46

4 ASX small caps poised for a big year

Are ASX small cap stocks set to play catch-up and outperform their larger peers this year? No one knows for sure, though here are four small cap companies worth considering for your investment portfolio.

Romano Sala Tenna
31 January 2024
5

Four all-time best charts for every adviser and investor

If the lessons from 30 years of investing could be distilled into one statement, it would be this: the short term is unknowable, but the long term is inevitable. These four best charts demonstrate why.

Romano Sala Tenna
22 March 2023
43

Active or passive – it’s time to change the narrative

The active versus passive debate rests on the lazy assumption that it's not possible to consistently choose managers that outperform. Both the premise and (hence) the narrative are flawed.

Romano Sala Tenna
4 January 2023
18

Three all-time best tables for every adviser and investor

It's a remarkable statistic. In any year since 1875, if you had invested in the Australian stock index, turned away and come back eight years later, your average return would be 120% with no negative periods.

Romano Sala Tenna
18 August 2021
48

Firstlinks is sponsored by:

Latest Updates

Retirement

Why spending more in early retirement can improve lifetime income

Conventional wisdom encourages retirees to preserve superannuation. But if those likely to qualify for the Age Pension later in life spend a little more today, it may deliver higher lifetime income and a more stable retirement.

David Knox
2 September 2026
2

SMSF strategies

Who really loses from the SMSF borrowing ban?

The ban on borrowing to buy residential property inside a self-managed super fund was framed as closing a loophole for the wealthy. Yet ATO data suggests its effects may be felt more heavily on members with moderate balances.

Dr Ruchith Dissanayake, Dr Ama Samarasinghe
2 September 2026
4

Investment strategies

The investing rule that explains the next market crash

What if investment success depends less on picking the right assets and more on understanding the decisions of other investors? A principle borrowed from game theory offers a different perspective on markets.

Shani Jayamanne
2 September 2026

Investment strategies

Gold: should you own the metal or the miners?

Gold is back in the headlines but investors may be asking the wrong question. Before deciding where prices are headed next, it's worth considering whether the investment you choose will deliver the outcome you're actually seeking.

David Tuckwell
2 September 2026
2

Fixed interest

Global bonds markets are hiccupping

For decades, investors looked the other way as government debt ballooned. But a reckoning may be beginning. Bond markets are stirring and the consequences could reach far beyond markets into everyday life.

Michael Collins
2 September 2026

Property

Why investors are looking beyond traditional property sectors

A little-known corner of the property market may be quietly benefiting from powerful demographic and healthcare trends. Could this specialised sector offer investors something increasingly difficult to find: enduring demand?

Steve Bennett, Sasanka Liyanage
2 September 2026

Retirement

Retirement in reality - 6 months in

Is retirement really an identity crisis, or is something else at play? New insights challenge conventional thinking and reveal why some retirees struggle to fully embrace life after work.

Dr Joanne Earl
2 September 2026
5

Register here to receive the Firstlinks newsletter for free

Alliances

Site Map

About Firstlinks

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.