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12 August 2025
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We like a good debate, and when two opposing views argued about the role of government bonds in a diversified portfolio, a veteran of 30 years in fixed interest stepped in as referee.
Guest Editor, Warren Bird, worked with Chris Cuffe at Colonial First State, and he brings clarity to the complex world of fixed interest, bonds and investing. Here are his favourite articles from the past six years.
Claims that zero tax rates on superannuation pension funds are a rort are misinformed because they ignore the taxes paid to put money into super, and the social contract that super was designed for.
In the week that marks 30 years since Chris Cuffe joined what became Colonial First State, a former colleague reflects on what makes a business successful, and what may have been lost from those early days.
The current system is fundamentally fair as domestic shareholders pay tax on fully franked dividends at their own tax rate. This is what imputation should achieve and why we need franking credits refunded.
The reality of investing in a bond is that regardless of whether we have experienced a massive bull market, the most a bond is worth at maturity is the face value.
This goes through the different options including shares, property and business ownership and declares a winner, as well as outlining the mindset needed to earn enough to never have to work again.
After a stellar 2025 to date for equities, warning signs - from speculative froth to stretched valuations - suggest the market’s calm may be masking deeper fragilities. Strategic rebalancing feels increasingly timely.
Everyone has a theory as to why housing in Australia is so expensive. There are a lot of different factors at play, from skewed migration patterns to banking trends and housing's status as a national obsession.
Each generation believes its economic challenges were uniquely tough - but what does the data say? A closer look reveals a more nuanced, complex story behind the generational hardship debate.
Blackberry clung on to the superiority of keyboards at the beginning of the touchscreen era and paid the ultimate price. Could the rise of agentic AI and a new generation of hardware do something similar to Apple?
The bond market is quietly regaining strength. As rate cuts loom and economic growth moderates, high-quality credit and global fixed income present renewed opportunities for investors seeking income and stability.
Companies trading at over 10x revenue now account for over 20% of the MSCI World index, levels not seen since the dotcom bubble. Can these shares create lasting value, or are they destined to unravel?