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6 October 2025
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Housing impact of Labor’s negative gearing policy, Reserve Bank on cash and climate, getting out of Australia, Howard Marks, home equity, ESG, bonds.
Labor's proposed policies on negative gearing and capital gains may come at a time when residential property is already weak, and it's unlikely to make buying a property easier for first-home buyers.
Negative gearing makes it hard for renters to become home owners. Now would be a pain-free time to wind it back.
Although some domestic cyclical companies currently offer value, the attraction of offshore growth is a key factor for investors, including strong Australian companies with global aspirations.
Howard Marks distills a lifetime of investing into his new book, and perhaps as a sign that he has really mastered the market cycle, he has just sold a majority stake in Oaktree to Brookfield.
Using the value of home equity built up over many years seems an obvious part of retirement planning, but reverse mortgages have been unsuccessful in Australia. Is it time for a fourth pillar of retirement income?
There is no single and correct way for a company to adopt good ESG practices, but it's clear that major institutional investors are increasingly judging companies by ESG criteria.
ETF users are younger and female, attracted to responsible investing, global equities and fixed income, as the sector continues to evolve rapidly. It will probably exceed $50 billion soon.
We like a good debate, and when two opposing views argued about the role of government bonds in a diversified portfolio, a veteran of 30 years in fixed interest stepped in as referee.
This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.
An explosion in low-skilled migration to Australia has depressed wages, killed productivity, and cut rental vacancy rates to near decades-lows. It’s time both sides of politics addressed the issue.
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.
Australian housing’s 50-year boom was driven by falling rates and rising borrowing power — not rent or yield. With those drivers exhausted, future returns must reconcile with economic fundamentals. Are we ready?
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?
This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.