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Graham Hand

Investing like Jerome Powell or the Future Fund

Most of us try a version of tactical asset allocation. The good news is the range of investments available has improved significantly, and anyone can become a version of the Future Fund or Jerome Powell.

Christian Baylis on financial repression in fixed income

Financial repression is suddenly part of our lexicon, but what is it and how can a fixed income fund take advantage of it? And why it is better to manage smaller amounts than multi-billion portfolios.

Harry Markowitz's 'aha moment' in asset allocation

Harry Markowitz is the 1990 Nobel Laureate and Pensions & Investments Magazine's 'Man of the Century'. For his 94th birthday, he explains the magic moment of his Modern Portfolio Theory and Efficient Frontier work.

Latest 'Wealth of Experience' podcast

This episode of Wealth of Experience discusses who won and lost in August reporting, missing the point on franking, how tax reform picks favourites, two grumps, and features an interview with Christian Baylis.

Tax reform favours apartments and owner-occupiers

Stamp duty on buying a home is a major cost for most people, often delaying purchase. While replacing it with a land tax seems attractive, the reform picks favourites and not everyone will welcome the changes.

Emma Fisher on picking companies not trends or themes

Focus on what you're good at. If you have no insights on macro themes or market trends but can spot a great company, that should be your emphasis, while carefully watching entry and exit prices.

Latest Updates

Economy

Making sense of record high markets as the world catches fire

The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.

Australia’s generous housing subsidies face mounting political risk

Mark Carney has spoken of a rupture in the rules based system that has governed the world since 1945. That rupture means nations like Australia will need to boost defence spending and find savings elsewhere.

Shares

Finding yield on the ASX

With ASX dividend yields now below government bond yields, investors face an upside-down market where income is scarce, growth is muted, and careful selection of bond-like stocks has never mattered more.

Investment strategies

Digging for value among ASX miners

ASX miners are back in favour after playing second fiddle to banks for years. Is it too late to get in? Here are some thoughts on the large caps such as BHP and Rio, and the hot gold mining sector.

Gold

It’s economic reality, not fear-based momentum, driving gold higher

Most commentary on gold's recent record highs focus on it being the product of fear or speculative momentum. That's ignoring the deeper structural drivers at play. 

Investment strategies

Asia in 2026: Riding AI, reform and a shifting global order

Tariff turmoil tested Asia, but AI leadership, policy easing and reform momentum are restoring investor confidence and strengthening the region’s outlook for 2026. 

Investment strategies

Investors beware: Bull markets don’t last forever

New research explains why high valuations, low dividends and bullish sentiment rarely coexist with strong long-term returns after extended bull markets. 

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