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Ashley Owen

Diversification works?

Nobody ever built a great business, or created a great nation, or amassed a great fortune, or became a great painter or musician or sportsperson or anything else, by diversifying. You need to specialise, concentrate and focus.

Investing against the herd, Part 3, Testing the theory

An 'against the herd' portfolio is some 54% higher than the 'follow the herd’ portfolio, and 22% better than a passive portfolio. Ignore the market hype and general sentiment and focus instead on the facts.

Once in a lifetime returns from US shares

Not only has the US market returned 39% in Australian dollars over the past 9 months, volatility has not been lower since the mid-2000s. It has been the best run of consistent, high returns in my lifetime.

Investing against the herd, Part 2, Consumer sentiment and equity returns

Investors tend to believe that markets will keep going in the same direction they have been in the recent past - both on the way up and on the way down. Consumer sentiment peaks at the same time as the market.

Investing against the herd: resisting emotion

Investors who follow the herd invariably end up buying near the tops when everybody else is buying and selling near the bottom. Investors need to resist the temptation to get caught up in the hype of the daily news and noise.

A short history lesson on banks and government debt

Fascinating though the current events on government deficits are, they are hardly new. Not much changes - even across thousands of years, and it's worth a quick history lesson.

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Investment strategies

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.

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.

Investment strategies

What if Trump is right?

Trump may be right on two trends: nations are shifting from aspiration to essentials and from global dependence to self-reliance, pushing capital toward security, infrastructure, and energy.

Gold

After a stellar 2025, can gold shine again next year?

Gold has had a remarkable 2025, with the spot price likely to post its strongest return since 1971. This explores the key factors that will shape the outlook for the yellow metal next year, and long-term.

Superannuation

Critics of Commonwealth defined benefit schemes have it wrong

Critics like Clime's John Abernethy have questioned many aspects of defined benefit pensions for public servants. This is an attempted rebuttal, suggesting these pensions aren't the problem they're made out to be.

Infrastructure

Why airport stocks deserve a place in long-term portfolios

Aircraft constraints are holding back global air travel. Those constraints should soon ease which combined with a structural boom in travel demand could be a boon for global airport stocks.

Investment strategies

What is the future of search in the age of AI?

Search is changing fast. AI tools like ChatGPT and Google’s Gemini are reshaping how we find information, opening new opportunities for innovation, user engagement, and future revenue growth.

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