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31 October 2025
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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.
Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?
In any year since 1875, if you'd invested in the ASX, turned away and come back eight years later, your average return would be 120% with no negative periods. It's just one of the must-have stats that all investors should know.
Five mega trends point to risks of a more inflation prone and lower growth environment. This, along with rich market valuations, should constrain medium term superannuation returns to around 5% per annum.
Whether for yourself or a family member, it’s never too early to start thinking about aged care. This looks at the best ways to plan ahead, as well as the changes coming to aged care from November 1 this year.
Labor has caved to pressure on key parts of the Division 296 tax, though also added some important nuances. Here are six experts’ views on the changes and what they mean for you.
More Australians are retiring with larger mortgages and less super. This paper explores how unlocking housing wealth can help ease the nation’s growing retirement cashflow crunch.