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31 August 2025
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With cash investments providing such poor returns, the search for yield has driven up share and property prices, some to unrealistic levels. It has also corrupted our sense of risk which is a dangerous combination.
Telstra’s competitive advantage in regional areas may be under threat after the National Broadband Network is rolled out because wholesale costs are expected to equalise for smaller retail service providers.
There’s nothing quite like receiving cash without having contributed any sweat or labour. But are dividends the best way for companies to reward their investors? What's happened to reinvesting for future growth?
Not all company growth is created equal. While a headline growth figure may look impressive, it's how this growth is financed that determines whether it's a good or bad thing for shareholders.
When investing capital, you expect the return to adequately compensate you for the likelihood of loss. Understanding both risk and reward is vital, so the more you know about 'knowns' and 'unknowns' the better.
Investors are often advised to take the long-term view and pay little attention to the ups and downs of the market. But adopting a strict ‘set and forget’ strategy can sometimes be short-sighted.
An explosion in low-skilled migration to Australia has depressed wages, killed productivity, and cut rental vacancy rates to near decades-lows. It’s time both sides of politics addressed the issue.
This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.
Australian housing’s 50-year boom was driven by falling rates and rising borrowing power — not rent or yield. With those drivers exhausted, future returns must reconcile with economic fundamentals. Are we ready?
Despite mixed ASX results, the market has shown surprising resilience. With rate cuts ahead and economic conditions improving, investors should look beyond short-term noise and position for a potential cyclical upswing.
BWT Trust has moved to bring management in house. Meanwhile, many of the properties it leases to Bunnings have been repriced to materially higher rents. This has removed two of the key 'snags' holding back the stock.
With APRA phasing out bank hybrids from 2027, investors must reassess these complex instruments. A synthetic hybrid strategy may offer similar returns but with greater control and clearer understanding of risks.
The magnitude of founder Jensen Huang’s selldown may seem small, but the signal is hard to ignore. When the person with the clearest insight into the company’s future starts cashing out, it’s worth asking why.