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Graham

Interview with Sir Michael Hintze, AM: why an investing edge needs imagination

Sir Michael Hintze founded CQS in 1999 and it has established itself in London as a major credit-focused, global, multi-strategy asset manager with AUD20 billion under management. We chatted on his recent visit to Australia.

Financial advisers not allowed to advise

Most financial advisers are forced to use Approved Product Lists, model portfolios, procedures for Statements of Advice, rules of their Professional Indemnity Insurance ... but what about independent advice?

Let’s get the numbers right on imputation

Every day, an expert writes somewhere about the adverse impact of a reduction in franking credits due to a lower company tax rate. This tax rate has no impact on the after-tax returns received by Australian shareholders.

Guns, banks, innocence and a Trump warning

In the 1970s, bank branches had pistols in the teller drawers and cupboards, but behind the accidents and hilarious stories lies a grim truth that is a warning to Trump's crazy idea to arm teachers.

Kitces Part 2: Where advice went wrong and where to now

Financial advisers, especially in vertically-integrated firms, attached a product sale to the advice, confusing clients and setting off a chain reaction where regulators stepped in. The reputation of financial advice was compromised.

10 highlights from Buffett's latest letter

Warren Buffett's latest letter to shareholders gives his definition of 'risk' and makes surprising points about holding bonds versus shares which will delight equity investors and managers.

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Planning

Does your will qualify for the discretionary testamentary trust exemption?

Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning. 

Lithium's latest drop and what it means for ASX investors

Lithium's latest sell-off has punished ASX miners as prices remain hostage to shifting expectations. The key challenge is navigating a market prone to extreme volatility despite a strong case for the long-term demand outlook.

Investment strategies

CGT reform and fund turnover: who really feels the impact?

The implications of CGT reform are far and wide. As the 50% discount gives way to inflation indexation, turnover and return profiles may become critical drivers of after-tax performance. Some strategies face a far greater hit. 

Superannuation

Super was built for a very different Australia

Our retirement system was built around assumptions that no longer hold. Lower homeownership, longer lifespans and changing expectations are exposing cracks that policymakers and super funds need to address. 

Retirement

Retirement in reality - 4 months in

Many people spend years planning financially for retirement but little time preparing for what comes next. Four months in, here are the surprising lessons i've learnt on finding purpose, social connection and healthy habits. 

Investment strategies

After the Budget, Australia needs its own definition of quality

As tax reforms reshape investment incentives, investors should rethink what quality investing means in the uniquely concentrated Australian market, where traditional frameworks may not translate as effectively.

Datacenters are the new shale oil

Why are tech giants pouring billions into datacentres when the economics look questionable? The most dangerous words in investing may be: "everyone else is doing it". Today's AI boom has striking parallels with the shale bust.

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