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28 December 2025

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Edition: 410

1-8 out of 8 results.

Welcome to Firstlinks Edition 410 with weekend update

  • 3 June 2021

At the Morningstar Investment Conference, founder of GMO, Jeremy Grantham, lamented the consequences of high prices on everything but he expects a major correction. An extract from his interview covers markets, technology, commodities and venture capital. Plus home prices and inflation focus.

Grantham interview on the coming day of reckoning

Jeremy Grantham has seen it all before, with bubbles every 15 years or so. The higher you go, the longer and greater the fall. You can have a high-priced asset or a high-yielding asset, but not both at the same time.

BHP v Rio v Fortescue: it's all about the iron ore price

Don’t look at an earnings forecast or a DCF valuation or a broker target price for a mining company. Share price forecasts are only as good as the commodity price assumptions they are based on, and they are a guess.

How much will rising inflation hit company valuations?

It's complicated. Rising bond yields reflect optimism about economic growth and improving business conditions. But as the recovery matures, increases in bond rates prove counter-productive, kerbing economic growth.

Rising real yields likely to undermine equity values

Negative real yields have unmoored asset prices from fundamentals, but inflation pressures are likely to start pushing real yields higher. Higher real yields should feed into lower risk asset valuations.

Which stocks and sectors are hit by inflation?

A back-to-basics explainer on the challenges arising from the impact of inflation on financial markets, reminding investors to hold some assets that act as a defence against rising inflation.

Buy high, sell low: early super access and foregone returns

The Government hailed the Early Access Scheme as a great success, but Australians should not have withdrawn super to meet their obligations. Economic stimulus and a secure social safety net should provide for them.

Four key wealth drivers affecting long-term investment goals

Wealth accumulation has four main drivers. Evaluating long-term investment risk requires shifting the focus on shorter-term losses and volatility towards failure to achieve long-term objectives.

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Why it’s time to ditch the retirement journey

Retirement isn’t a clean financial arc. Income shocks, health costs and family pressures hit at random, exposing the limits of age-based planning and the myth of a predictable “retirement journey".

Australia's retirement system works brilliantly for some - but not all

The superannuation system has succeeded brilliantly at what it was designed to do: accumulate wealth during working lives. The next challenge is meeting members’ diverse needs in retirement. 

Australian stocks will crush housing over the next decade, 2025 edition

Two years ago, I wrote an article suggesting that the odds favoured ASX shares easily outperforming residential property over the next decade. Here’s an update on where things stand today.

The 3 biggest residential property myths

I am a professional real estate investor who hears a lot of opinions rather than facts from so-called experts on the topic of property. Here are the largest myths when it comes to Australia’s biggest asset class.

AFIC on the speculative ASX boom, opportunities, and LIC discounts

In an interview with Firstlinks, CEO Mark Freeman discusses how speculative ASX stocks have crushed blue chips this year, companies he likes now, and why he’s confident AFIC’s NTA discount will close.

Where to hide in the ‘everything bubble’

It might not be quite an ‘everything bubble’ but there’s froth in many assets, not just US stocks, right now. It might be time to stress test your portfolio and consider assets that could offer you shelter if trouble is coming.

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