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Stephen Miller

Is more trouble coming for the 60/40 portfolio?

The 60/40 portfolio has performed poorly during the recent period of high inflation. With peak inflation likely behind us, here's a stock-take on the year so far and what it might imply for portfolios going forward.

2023: inflation, diversification, agility and an eye to recession

The RBA and interest rate markets are underestimating inflationary pressures. Combined with a government intent on increasing wages, there's a risk of entrenching higher inflation in Australia compared to elsewhere.

US rate rises would challenge multi-asset diversified portfolios

In the wake of persistent inflation, the Fed may jams down hard on the monetary brakes, leading to upward moves in bond yields. There may be a significant correction in equity markets, but what would the RBA do?

A tale of the inflation genie, the Fed and the RBA

The inflation genie is still in the bottle. While wage growth remains low and the US Fed maintains current settings, we should expect the RBA's accommodatory approach to continue.

It's not all about interest rates: give me a 1980s petshop galah!

The refusal of both sides of politics not only to adopt ‘microeconomic reform’ but in some cases reverse reforms, looms as a bigger driver of unemployment than any failure to fine-tune macro or monetary policy.

Post Covid, the risks are skewed to the downside

Despite the unknowns, Australia is vulnerable as a medium-sized open economy dependent on smoothly functioning international trade. It was already under stress before the onset of the crisis.

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Investment strategies

Trump's US dollar assault is fuelling CBA's rise

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.

Investment strategies

With markets near record highs, here's what you should do with your portfolio

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.

Property

Soaring house prices may be locking people into marriages

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.

Investment strategies

Google is facing 'the innovator's dilemma'

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?

Investment strategies

Study supports what many suspected about passive investing

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.

Property

Should we dump stamp duties for land taxes?

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.

Investing

Being human means being a bad investor

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.

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