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21 May 2025
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Risk revisited by Howard Marks, hedging fx exposure, risk aversion and women's retirement, calculating intrinsic value, slowing of productivity growth and changes to personal credit reporting.
According to CFSGAM's research, Australian Gen-X women remain most at risk of not meeting their retirement objectives, in part due to an aversion to growth assets since the GFC, despite the market's recovery.
Howard Marks is best known in the global investment community for his ‘Oaktree Memos’ to clients which detail investment strategies and economic insights. Here are some extracts from his latest memo, Risk Revisited Again.
Investing in foreign assets brings with it foreign currency exposure. Your return not only depends on the performance of the asset but on changes in the exchange rate, which can work against you or for you.
When building an investment portfolio it's a good idea to buy quality companies at a discount to intrinsic value. But what is that, and how does it fit into portfolio construction?
Investors need to be aware of what’s happening to productivity and how this will affect future returns and the affordability of tax-payer funded pensions, especially if company profits fall.
Understanding what information is held on a consumer’s credit report can provide a pathway for negotiating better credit terms, whether or not a person has a strong credit history.
Labor has announced a $2.3 billion Cheaper Home Batteries Program, aimed at slashing the cost of home batteries. The goal is to turbocharge battery uptake, though practical difficulties may prevent that happening.
The famed investor says the rapid switch from globalisation to trade wars is the biggest upheaval in the investing environment since World War Two. And a new world requires a different investment approach.
The boss of Australia’s fourth largest super fund by assets, UniSuper’s John Pearce, says Trump has declared an economic war and he’ll be reducing his US stock exposure over time. Should you follow suit?
Every crisis throws up opportunities. Here are ideas to capitalise on this one, including ‘overbalancing’ your portfolio in stocks, buying heavily discounted LICs, and cherry picking bombed out sectors like oil and gas.
While many chase high yields, true investment power lies in companies that steadily grow dividends. This strategy, rooted in patience and discipline, quietly compounds wealth and anchors investors through market turbulence.
Behind market volatility and tariff threats lies a deeper strategy. Trump’s real goal isn’t trade reform but managing America's massive debts, preserving bond market confidence, and preparing for potential QE.