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18 September 2025
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Sorry, franking caps and grandfathering don’t work, David Harrison, Chris Joye on hybrids, LIC future, Tech and Debt Wreck, food trends, value flaws.
With a vast array of property choices across retail, industrial, office and commercial, where does the head of one of Australia's largest property managers see the best opportunities, and where are the warnings?
It’s only taken 20 years but the hallmarks of the excesses of the 2000 Tech Wreck are in play again. At the same time, some of the lending mistakes of the GFC are being repeated.
Food and beverage producers are under pressure to reduce the harmful impact of their products, and investors can encourage the trend by investing in companies or funds that recognise society's needs.
For value investing to remain a rational strategy, mean reversion must hold true, which requires supportive economic conditions. But historical ranges are not relevant to companies losing market share.
When researchers identified the benefits of investing in 'value', index providers and asset managers created products to harness the 'value' factor. But is the construction of the index correct?
The company structure of LICs carries advantages for income smoothing versus the trust structure of LITs, ensuring it will continue as the vehicle of choice for many listings by investment managers.
The threat of Labor denying franking credit refunds led some investors to sell hybrids, widening their margins, which created investment opportunities for those willing to look past the immediate announcement.
Hybrids deliver returns comparable with equities over the long term with less volatility, which makes the risk-adjusted return and lack of correlation to equities an attractive characteristic in a diversified portfolio.
Australia could unlock smarter investment and greater equity by reforming housing tax concessions. Rethinking exemptions on the family home could benefit most Australians, especially renters and owners of modest homes.
The creator of the 4% rule for retirement withdrawals, Bill Bengen, has written a new book outlining fresh strategies to outlive your money, including holding fewer stocks in early retirement before increasing allocations.
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.
Are franking credits factored into share prices? The data suggests they're probably not, and there are certain types of stocks that offer higher franking credits as well as the prospect for higher returns.
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.