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17 June 2025
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The dominance of mega-cap stocks in the US has led to strong index performance and a new wave of passive investors. Australia's markets might not be so suited to this approach.
The tightening of credit conditions for home lending driven by the Royal Commission has not fully translated into aggregate statistics, and the slowdown may already be worse than we realise.
Long-term earnings matter the most to stock prices over the long run. Trying to time short-term fluctuations is folly, but we can pick the times when movements are disharmonious with earnings.
Liquid, large share markets are generally efficient, but events at a company, sector or economy-wide level can create opportunities when the market over reacts. It pays to be patient.
The ASX’s top 20 companies as a group performed poorly last year, due in part to the cost of purchasing those shares. This begs the question, just because an investment is conventional, is it by definition conservative?
The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.
There is an alternative, simpler approach which could be used to mitigate some of the difficulties that the proposed super tax has for holders of large assets such as properties, businesses and farms in SMSFs.
Here's a detailed look at how current valuations and profit forecasts for the S&P 500 stack up versus history. The answer? Both seem excessive, making the market vulnerable to a correction or worse.
A recent ruling could change the tax payable by beneficiaries of family trusts. If the ATO has previously demanded extra payments on unpaid present entitlements in your family group, you should watch this space.
Subdividing can offer a lucrative first step into property development. Yet it comes with legal, planning and unexpected tax considerations that should be understood from an early stage to avoid surprises.
Though it may feel like this time is different, markets have shown resilience throughout history when confronted by wars, pandemics and other crises. In many cases, the best course of action has been none at all.
China has always managed its affairs in a very different way to Western countries and empires. For those concerned about China's rise as a global power, the big question is whether this approach could change.