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Friday, 17 September 2021
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We tend to think of the 'stockmarket' as one beast, but it pays to know the drivers of the different parts, especially global versus Australian stocks. The outlook favours global due to better sector exposure.
Investing in commodities can deliver uncorrelated returns on the back of demographic trends, but there are many ways to gain exposure and the risks of each must be understood.
Rebalacing can feel counterintuitive as you sell your winners and buy more losers. A reasonable compromise is to rebalance every 12 months, which might offer capital gains tax advantages.
Most S&P500 companies are doing well with recent reported earnings above expectations. In the tech sector, the Big Five (Apple, Amazon, Microsoft, Facebook, Alphabet) have also diversified their income sources.
The major global bond index currently offers a yield of only 1.6% at a time when a rising rate cycle may be starting. There are better risk-return opportunities elsewhere.
The popular 'cyclically-adjusted' Shiller PE ratio is historically high and this is often quoted as a sign the market is overvalued, but consider the impact of the current low interest rates.
The RBA Governor says rising house prices are due to "the design of our taxation and social security systems". The OECD says "the prolonged boom in house prices has inflated the wealth of many pensioners without impacting their pension eligibility." What's your view?
Is it more difficult to find stocks to short in a rising market? What impact has central bank dominance had over stock selection? How do you combine income and growth in a portfolio? Where are the opportunities?
The Design and Distribution Obligations (DDO) come into effect in two weeks. They will change the way banks promote products, force some small funds to close to new members and push issues into the listed space.
Company results in FY21 were generally good with some standout results from those thriving in tough conditions. We highlight the companies that delivered some of the best results and our future expectations.
It used to be Down, Down for prices but the new status quo is Down Down for emissions. Until now, the realm of ESG has been mainly fund managers as 'responsible investors', but companies are now pushing credentials.
As Managed Accounts surge through $100 billion for the first time, the line between retail, wholesale and institutional capabilities and portfolios continues to blur. Lower costs help with best interest duties.
Read our article on the family home in the age pension test, with the RBA Governor putting the onus on social security to address house prices and the OECD calling out wealthy pensioners. What is your view?