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Jonathan Rochford

Media worth consuming - October 2019

Links to dozens of global media articles that often do not receive mainstream coverage in Australia. Some links are sceptical, fun or pointed, while others challenge consensus and accepted wisdom. 

Media worth consuming - September 2019

Links to dozens of global media articles that often do not receive mainstream coverage in Australia. Some links are sceptical, fun or pointed, while others challenge consensus and accepted wisdom. 

Why bank hybrids are far too expensive

The recent rise in the prices of bank hybrids fails to recognise the risks involved, and they now look expensive compared to alternatives available to both retail and institutional investors.

Tech Wreck 2.0 and Debt Wreck 2.0 are coming

It’s only taken 20 years but the hallmarks of the excesses of the 2000 Tech Wreck are in play again. At the same time, some of the lending mistakes of the GFC are being repeated.

Review: Howard Marks on the market cycle

Howard Marks distills a lifetime of investing into his new book, and perhaps as a sign that he has really mastered the market cycle, he has just sold a majority stake in Oaktree to Brookfield.

Why bother investing in government bonds?

Government bonds produced good returns last year, but at the current starting position of lower rates, the cost of defensiveness is probably a limited payoff.

Latest Updates

Weekly Editorial

Welcome to Firstlinks Edition 639

Thank you for the hundreds of responses to our Reader Survey and to maximise the sample size, we’re leaving it open until this Sunday. Here is an overview of the results so far.

  • 27 November 2025
  • 1
Investment strategies

Where to hide in the ‘everything bubble’

It might not be quite an ‘everything bubble’ but there’s froth in many assets, not just US stocks, right now. It might be time to stress test your portfolio and consider assets that could offer you shelter if trouble is coming.

Investment strategies

The ultimate investing hack: dividend growth stocks

Investors often fall prey to ‘amygdala hijacks,’ letting emotion trump reason. By focusing on dividend-growth with stocks instead of volatile prices, you can steady your mindset and let compounding do the work. 

Investment strategies

CBA or global banks?

CBA’s recent pullback highlights single-stock risk. Global banks trade at lower P/Es with rising earnings and dividends, offering investors both income potential and long-term value beyond the local market.

Investment strategies

Global dividends rising, but Australia lags

Global dividend growth surged in the third quarter, with median growth of almost 6%. Australia was a notable exception as dividends fell, thanks to flagging mining company payouts.

Economy

I called inflation's rise and fall and here's what's next

In 2020, I warned that surging US money supply growth would spark inflation. By early 2023, I said US money supply was dropping dramatically and that meant inflation would decline. Here's what happens next.

Superannuation

Are excessive super funds giving Australia “Dutch Disease”?

The irony is profound: a system designed to secure Australians’ futures may be systematically dismantling the economic diversity necessary for long-term prosperity.

Investment strategies

Could your children pass the inheritance ‘stress test’?

You devote years of your life working, saving and investing, striving to build a legacy that will outlive you. Before any wealth moves to the next generation, here are six questions every parent should ask themselves.

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