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14 June 2025
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Last week, I interviewed Hamish Douglass about investing and positions in his portfolio. He was articulate, confident and relaxed, but a few days later, the Board of Magellan announced he was taking medical leave.
Australian Ethical explains its first move into active ETFs, Murray's best investments and one he'd prefer to forget, a stock he will hold for 10 years, and why they hold supermarkets that sell tobacco and alcohol.
Risk tolerance is highly personal, and is only truly tested when markets are under stress. Even the popular theory of loss aversion is now challenged, so you need to find the balance between risk and sleep.
Borrowers can relax for a while longer as Reserve Bank Governor Philip Lowe signals he will wait for firm evidence of inflation and wage rises before raising cash rates, but the market is way ahead of him.
ETFs gain the headlines as issuers are skilled at promoting their growth and new funds. Yet ETFs are tiny compared with managed funds, which advisers prefer on platforms. Which will be the long-term winner?
There are thousands of different indexes, and they are not all diversified and broadly-based. Watch for concentration risk in sectors and companies, and know the underlying assets in case liquidity is needed.
The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.
There is an alternative, simpler approach which could be used to mitigate some of the difficulties that the proposed super tax has for holders of large assets such as properties, businesses and farms in SMSFs.
Here's a detailed look at how current valuations and profit forecasts for the S&P 500 stack up versus history. The answer? Both seem excessive, making the market vulnerable to a correction or worse.
A recent ruling could change the tax payable by beneficiaries of family trusts. If the ATO has previously demanded extra payments on unpaid present entitlements in your family group, you should watch this space.
Subdividing can offer a lucrative first step into property development. Yet it comes with legal, planning and unexpected tax considerations that should be understood from an early stage to avoid surprises.
Though it may feel like this time is different, markets have shown resilience throughout history when confronted by wars, pandemics and other crises. In many cases, the best course of action has been none at all.
China has always managed its affairs in a very different way to Western countries and empires. For those concerned about China's rise as a global power, the big question is whether this approach could change.