Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Community Rules Policy

  •      
  •   

Firstlinks is part of a community of investors sharing ideas and we welcome your comments on any article. We want everyone to benefit from this community, and request that your comments are respectful and sincere. You may use your real name or an alias to identify your comment, but the name should not be offensive, defamatory or impersonate another person, or be otherwise unacceptable.

When sharing external material on our website, please limit quotes to no more than one paragraph, and use links to other websites with a short summary of the relevant material, rather than copying large amounts of content. You must not upload any information that you do not have a right to make available, or that is subject to confidentiality or copyright.

Firstlinks may moderate comments, and when you post a comment, it may not appear immediately because it is either awaiting approval, or contravenes this Policy. Links to personal and other inappropriate sites will usually be removed.

Comments can be supportive, critical or provide further information. We welcome comments which challenge another opinion, but if you disagree with an article, you must not personally attack or harass the author.

We reserve the right not to publish, or to delete or edit comments that are:

  • Not relevant to the debate or subject
  • Abusive, offensive, defamatory, misleading or otherwise unacceptable
  • Criticising a company or person without constructively adding to the subject or without sufficient supporting argument
  • Attacking the person rather than the subject
  • Not well written or understandable
  • Clearly politically biased
  • In the nature of advertising, product promotion, personal showcasing or in any way soliciting for business.

If you participate on this web site, you shall not post or upload any messages, data, graphics, links or other material which are unlawful or abusive in any way, or which violate the rights of any party, or give rise to liability or violate any law.

Comments are submitted by readers and we cannot guarantee the accuracy or integrity of all submissions. Some readers may contravene our Terms and Conditions as we cannot check every part of their comments.

To the extent allowable under the law, you bear all risk associated with your use of our website, newsletter or any other communication from us. You should not rely on comments in making any investment or other decision. In the event that you have any right, claim or action against any reader arising out of that reader’s comments, then you will pursue such right, claim or action independently of, and without recourse to, us. Your continued use of this website is agreement to these terms.

Firstlinks does not offer personal financial advice. We do not know your financial circumstances, and nor can anyone who provides a comment. We expressly exclude our liability for any loss or damage arising from the posting of comments on our web site.

By submitting comments you agree to indemnify and to continue to indemnify Morningstar Australasia Pty Limited (publisher of Firstlinks) to the full extent possible under the law against all claims, costs and expenses of any type arising out of any such comments.

 

  •      
  •   

 

Leave a Comment:

banner

Most viewed in recent weeks

The strange effect of the 30% minimum capital gains tax

The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.

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.

Does your will qualify for the discretionary testamentary trust exemption?

Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning.

Ranking three common retirement strategies

The defining challenge of retirement isn't just about building wealth, it's about converting your lifetime savings into sustainable income. A holistic understanding of different strategies can improve long-term outcomes.

Welcome to Firstlinks Edition 667 with weekend update

The downfall of the giant and three lessons for investors.

  • 18 June 2026

Why Australian shares are falling behind the world

Australia’s market boasts a long record of outperformance, but recent results tell a different story. Is the ASX’s lagging performance a temporary setback or evidence that structural forces will keep global markets ahead?

Latest Updates

Superannuation

Are you making these SMSF mistakes?

After four decades advising investors, there are a few common mistakes I've seen SMSF investors make. From holding too much cash and chasing yield to overtrading and trusting tips. Are these errors costing you?

Retirement

Retirement spending is not one-size-fits-all

New data challenges the idea that Australians are underspending their super. The bigger issue may be helping retirees navigate complexity, make confident decisions and use their savings to support security, wellbeing and choice.

Taxation

The missing link in the CGT debate

A little-noticed consequence of Labor’s tax changes could have implications well beyond investors’ tax bills. The issue raises bigger questions about incentives, capital allocation and the drivers of long-term economic growth.

Investment strategies

The surprising beneficiaries of the AI boom

While markets obsess over AI winners, a larger, more predictable growth engine is forming. A surge in electricity demand and infrastructure build‑out reveals the quiet, durable assets evolving beneath the AI story.

Superannuation

When losses in super become irreplaceable

The notion of 'you can afford more risk' assumes that losses can be replaced. Above a $2.1 million super balance the law says otherwise, and a worked example shows the refill takes decades, or never happens.

Retirement

Why I object to ‘hitting a number’ for retirement

Many investors dream of “hitting their number” and walking into retirement. But what if reaching that milestone is the moment they should be asking the tough questions? After all, there's a lot more to life than a high portfolio value. 

Planning

Does your will qualify for the discretionary testamentary trust exemption?

Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning.

Sponsors

Alliances

© 2026 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.