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Graham

7 strategies to manage a loss of franking

Much has been written about Labor's franking policy, so we bring together a range of possible strategies. It's likely that even if implemented, it will not be in its current guise, so anyone affected should wait before taking action.

Cuffelinks Firstlinks Edition 305

New Interview Series, Lynch & Buffett lessons, Montgomery on Uber, Microsoft, Joe Magyer, Noel on 10% rule, bonds & hybrids for franking.

Joe Magyer on pricing power, customer loyalty and the network effect

How does a small company fund manager identify customer loyalty, pricing power and network effects in a niche business trading at a high valuation, especially when so much value is in the future.

Cuffelinks Firstlinks Edition 304

In the six years I have been writing these introductions, I have been reluctant to make macro forecasts. There are so many factors at play that predictions become an unsatisfactory 'on the other hand' exercise.

Sebastian Evans: hanging on until the market catches up

A fund manager on the wrong side of the market must tough it out and have the strength of their convictions, satisfied that their investment process will bear fruit over the long term. The LIC structure gives more time.

Frank(ing) exchange with Bowen: "Is it fair?"

Labor's franking credit proposal will reduce the income of many retirees who do not believe they are wealthy. Here's an exchange with a reader who just wants an answer to "Is it fair?"

Latest Updates

Superannuation

Indexation implications – key changes to 2026/27 super thresholds

Stay on top of the latest changes to superannuation rates and thresholds for 2026, including increases to transfer balance cap, concessional contributions cap, and non-concessional contributions cap.

Economy

Central banks need higher inflation targets

In a shift away from solely targeting low inflation, central banks are considering raising inflation targets to combat economic challenges, but face potential drawbacks and conflicts in policy implementation.

Exchange traded products

The missing 30%: how LIC returns are understated, and why it matters

The perceived underperformance of LICs compared to ETFs is due to existing comparison data excluding crucial information, highlighting the need for proper assessment and transparent reporting.

Latest from Morningstar

Alpha isn’t dead. You’ve just been measuring it wrong

New research shows smarter portfolio construction—not new factors—is the real edge in the hunt for alpha. However, finding it requires a fundamentally different mindset.

Investment strategies

The diversification illusion: why 'balanced' portfolios may be exposed

Many 'diversified' portfolios are increasingly driven by the same narrow set of forces. As concentration builds beneath the surface, understanding how portfolios behave - not just how they’re constructed - is critical for investors.

Investment strategies

The case for staying the course in credit

Rising oil prices and inflation pushed Australian yields higher. Markets expect further tightening, but weaker growth may reverse rates. Locking income and maintaining duration is a sound strategy for widening credit spreads.

Investment strategies

One risk after another

Investors often focus on front-of-mind risks, reacting to each headline event without considering long-term impacts. Cass Sunstein and Timur Kuran define this as an "availability cascade," affecting financial decision-making.

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