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19 April 2024
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Roger Montgomery on valuing a company, emotions in investing, underperforming fund managers, default funds needed for the disengaged, and a bond guy's view of equities.
Investors who follow the herd invariably end up buying near the tops when everybody else is buying and selling near the bottom. Investors need to resist the temptation to get caught up in the hype of the daily news and noise.
If you’re not prepared to select a manager and hang in there for at least three years and preferably five, index and save yourself some fees. You should expect underperformance at some time in the investment cycle.
Price is what you pay for something, but value is what you will receive and the value will ultimately determine your return. Your job as an investor then, is to own shares that are worth more than you paid for them.
While it would be preferable if disengaged investors became more aware of their superannuation, it is an unrealistic expectation. A degree of paternalism is necessary in the design of defaults.
Simple maths helps explain why the share market is so volatile. It’s not that it’s an irrational, casino-like beast that bucks and dives for no good reason. It’s a long duration market reacting to changes.
The ATO has released all the superannuation rates and thresholds that will apply from 1 July 2024. Here's what’s changing and what’s not, and some key considerations and opportunities in the lead up to 30 June and beyond.
Jim Simons has achieved breathtaking returns of 62% p.a. over 33 years, a track record like no other, yet he remains little known to the public. Here’s how he’s done it, and the lessons that can be applied to our own investing.
Life has radically shifted with my brain cancer, and I don’t know if it will ever be the same again. After decades of writing and a dozen years with Firstlinks, I still want to contribute, but exactly how and when I do that is unclear.
Australia will have 3.7 million more people in a decade's time, though the growth won't be evenly distributed. Over 85s will see the fastest growth, while the number of younger people will barely rise.
Being rich is having a high-paying job and accumulating fancy houses and cars, while being wealthy is owning assets that provide passive income, as well as freedom and flexibility. Knowing the difference can reframe your life.
Investor disgust, consolidation, de-listings, price discounts, activist investors entering - it’s what typically happens at business cycle troughs, and it’s happening to LICs now. That may present a potential opportunity.