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Edition: 375

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Who's next? Discounts on LICs force managers to pivot

The boards and managers of six high-profile LICs, frustrated by their shares trading at large discounts to asset value, have embarked on radical strategies to fix the problems. Will they work?

Have stock markets become a giant Ponzi scheme?

A global financial casino has been created where investors ignore realistic valuations in the low growth, high-risk environment. At some point, analysis of fundamental value will be rewarded.

Interview Series: Why it’s gold’s time to shine

With gold now on the radar of individual investors, SMSFs and institutions, here's what you need to know about the choices between gold bars, gold ETFs and even gold miners, with Jordan Eliseo. 

SMSFs during COVID-19 and your 14-point checklist

SMSFs come with an administration burden underestimated by many. For example, did you know trustees need to document a member’s decision to take the reduced pension minimum under the new COVID rules?

Funding retirement through a stock market crash

On the surface, a diversified fund looks the same as an SMSF with the same asset allocations. But to fund retirement, a member must sell units in the fund, whereas the cash balance is used in an SMSF.

Australia’s debt and interest burden: can we afford it?

Australia has an ageing population and rising welfare and health costs, but it is still the best placed among its ‘developed’ country peers. Here's why the expected levels of debt are manageable.

Welcome to Firstlinks Edition 375

  • 16 September 2020
  • 5

There are many ways to value a company, but the most popular is to estimate the future cash flows and discount them to a present value using a chosen interest rate. Does it follow that when interest rates fall, companies become more valuable? Perhaps, but only if the cash flows remain unchanged, and in a recession, future earnings are more difficult to sustain. What do Buffett and Douglass and 150 years of data say?

Your views on early access to superannuation

We asked our readers for their views on the government's early access to superannuation. Most agreed with the policy but not with the ease of access. Here are your comments from all sides.

Your predictions for the US presidential election and the ASX300

Trump or Biden? Our readers make a nailbiting call, while your predictions for the ASX300 over the long term show optimism while flat over the short term. The best insights come from the hundreds of revealing comments.

Your views on the Victorian COVID restrictions

The second wave of COVID-19 sweeping Victoria and the resulting lockdown have taken a huge toll on the state's economy and its population. Was the government's reaction heavy-handed or necessary?

Most viewed in recent weeks

10 reasons wealthy homeowners shouldn't receive welfare

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?

House prices surge but falls are common and coming

We tend to forget that house prices often fall. Direct lending controls are more effective than rate rises because macroprudential limits affect the volume of money for housing leaving business rates untouched.

Survey responses on pension eligibility for wealthy homeowners

The survey drew a fantastic 2,000 responses with over 1,000 comments and polar opposite views on what is good policy. Do most people believe the home should be in the age pension asset test, and what do they say?

100 Aussies: five charts on who earns, pays and owns

Any policy decision needs to recognise who is affected by a change. It pays to check the data on who pays taxes, who owns assets and who earns the income to ensure an equitable and efficient outcome.

Three good comments from the pension asset test article

With articles on the pensions assets test read about 40,000 times, 3,500 survey responses and thousands of comments, there was a lot of great reader participation. A few comments added extra insights.

The sorry saga of housing affordability and ownership

It is hard to think of any area of widespread public concern where the same policies have been pursued for so long, in the face of such incontrovertible evidence that they have failed to achieve their objectives.

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