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Robert Miller

WAAAX and an extraordinary disconnect

Frustratingly for investors in micro-caps, the larger companies which now include the WAAAX market darlings are running quickly ahead of their smaller cousins. It's a waiting game for the tide to turn.

3 principles for finding dividend sustainability

Check the cash flow characteristics and sustainability in any company before investing, as various ratios can be an early sign that the business is churning through rather than generating cash.

Five actions to watch in management share buying

Watching the commitment to buying shares by senior executives and board members can be a powerful pointer to company prospects, but investors need to read the right signs.

Three checks to make when facing earnings downgrades

Earnings downgrades are not always bad news. They may present buy-side opportunities if the stock is oversold. It's best to assess the circumstances via a checklist without panicking.

What we look for on company site visits

A company site visit can reveal far more than an annual report or a presentation in an office, and it’s the hidden insights that are easy to miss that are the most valuable clues.

Five ways to avoid the 'value trap'

Value investing is not just about a low P/E or EV/EBITDA. Other metrics need to be considered to prevent falling into a value trap, as well as what challenges are facing the industry and the time frame allowed for success.

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Investment strategies

High quality businesses are on sale

Beneath the dominance of the ASX's largest stocks, much of the market has been left behind. High-quality companies are now trading at levels rarely seen, offering opportunities for investors willing to look deeper.

Investment strategies

The whirlwind is upon us

Something unusual is happening in markets. The winners are pulling further ahead at an extraordinary pace. As return dispersion hits extreme levels, volatility is rising and the investing landscape is becoming harder to navigate.

Strategy

Inequality destabilises economies

Extreme wealth concentration is no longer just a side effect of growth. As inequality deepens, its consequences are shifting from a social concern to a broader threat to economic stability and democratic resilience.

Investment strategies

Have AI’s four horsemen arrived?

AI exuberance is colliding with economic reality. Cracks are emerging as spending surges, ROI remains uncertain and enterprise behaviour shifts. The next phase may look less like an expansion and more like a reckoning.

Taxation

Budget tax changes only scratch the surface. Here are 4 reforms Australia needs next

The 2026 budget has reignited Australia’s tax reform debate, but more work remains. Beneath the surface lies a harder question: what structural reforms are needed to make the country's tax system fit for the future?

Taxation

Negative gearing: quarantined, not killed

The Budget's negative gearing changes defer deductions rather than deny them, yet a worked example shows quarantining can halve the tax benefit's present value for buyers of established dwellings.

Investment strategies

Family offices have quietly taken over Australian private capital

In just four years, Australia's private capital landscape has transformed. We are seeing changes across who deploys capital, how deals are structured and why new platforms and investor pathways are rapidly emerging.

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