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Justin Mccarthy

5 lessons from the GFC as panic whips hybrids

For investors able to react quickly when stressed selling hits hybrids, excellent margins are available on quality names. The GFC taught experienced investors lessons that are now repeating.

Is it time to sell bank hybrids?

The margins (or spreads) on so-called AT1 bank hybrids have reduced significantly since the franking doubt was removed in the election, and investors should ask whether they are now rewarded for the risks.

Property market fundamentals look strong

The Coalition victory in the Federal election removed many policies which were overhanging the property market, and a relaxation of bank lending conditions is underpinning the signs of recovery.

The role of bonds and hybrids in franking loss

Amid the many strategies proposed to overcome Labor's franking policy if adopted, often overlooked is building a portfolio of the right types of bonds and hybrids as an alternative source of income.

Bank limitations create opportunities for non-bank lenders

Changes to banking regulations have led to higher interest rates on bank loans for SMEs and personal loans, pushing borrowers towards the rapidly growing new segment of non-bank lending for faster and better service.

How 'ridiculous' are hybrids for retail investors?

Hybrids are no more ridiculous than shares for retail investors, especially bank and insurance company issues. The increase in common equity in banks has improved the quality, but investors must be paid for the risk.

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Exchange traded products

It’s time for LICs to die

A high-profile dividend cut and a prominent fund manager’s apology have reignited a long-running debate. If investors can access similar exposures more cheaply and efficiently elsewhere, what exactly is keeping LICs alive?

Taxation

Will investors be better or worse off under new housing tax changes?

Housing tax reforms have sparked warnings of market turmoil and promises of greater fairness. But after modelling nearly two decades of property data, the results suggest winners and losers may not be who many investors expect.

Retirement

Three considerations before reshaping your legacy plan

Many retirees hope to leave a legacy. Proposed trust tax reforms could force families to rethink. The question is not how much to leave behind, but whether today's inheritance plans will still make sense as circumstances change.

Investment strategies

Why experienced investors still get markets wrong

Retirement is approaching. Markets are noisy. And every headline seems to demand action. The biggest investment risk isn't fear, greed or market volatility, it often arrives disguised as research and sensible risk management.

Shares

Why pay more for less?

Conditions were stacked in favour of professional investors in 2026. Most still fell short, raising questions about where investors should look for value. Meanwhile, an alternative strategy continued to make its case.

Investment strategies

Bleeding air out of the bubble

Equity valuations have fallen sharply over the past year, yet investors have largely been spared the volatility and losses that typically accompany a de-rating. What explains this unusually orderly reset? Here are five key drivers.

Strategy

Has AI gone rogue?

We worry about AI becoming conscious. But what if consciousness isn't the issue? The more unsettling possibility is a machine capable of pursuing objectives relentlessly, without motives, emotions, or awareness of any kind.

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