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Tuesday, 21 September 2021
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Do SMSFs underperform? regulation conga line, Nine/Fairfax toads, find great companies, dollar outlook, high divis, SMSF checklist, winner-takes-all.
APRA and the ATO do not measure fund performance in the same way. The discrepancy can cause SMSF performance to appear worse than it actually is, and better collaboration between regulators is required.
Many experts expected the Aussie dollar to fall rapidly when US rates rose above Australian rates, but the fall has been modest. What factors are holding it up and what's the outlook?
Australian companies have a long and frustrating history of wasting billions of dollars of capital on overseas dreams, and institutional investors should be taking a harder line to protect their capital.
The attributes of great growth companies are not all contained within the numbers that look at the recent past. Investors need to analyse the industry growth trajectory, the barriers to entry, and the corporate culture.
Despite what the textbooks tell us, a world of more dominant players has not led to higher prices. How does this affect investing?
The ATO has issued an update on illegal early release of super, when an SMSF is worth having, reporting obligations and trustee checklists. Make sure you stay on top of the rules.
Preferences revealed by actual investing behaviour are often different to preferences stated in surveys. Financial planners and super funds should use newer analyses that helps understand the discrepancies.
Fairfax and Nine together will not magically produce a great company. The business models of newspapers and free-to-air TV are compromised by giants in digital and media industries, and viewing habits have changed.
Who knew? With some surprise results, the Government is on unexpected firm ground in asking people to draw on all their assets in retirement, although the comments show what feisty and informed readers we have.
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?
It's a remarkable statistic. In any year since 1875, if you had invested in the Australian stock index, turned away and come back eight years later, your average return would be 120% with no negative periods.
Never stand between Australian households and an uncapped government programme with $3 billion in ‘free money’ to build or renovate their homes. But excess supply is coming with an absence of net migration.
Picking macro trends is difficult. What may seem logical and compelling one minute may completely change a few months later. There are better rewards from focussing on identifying the best companies at good prices.
Some high-quality companies have emerged even stronger since the onset of COVID and are well placed for outperformance. We call these the ‘COVID Opportunists’ as they are now dominating their specific sectors.