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25 July 2026
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With the RBA having lifted interest rates by 4.25% over 18 months, many investors now see cash as an attractive investment option. That ignores the silent tax of inflation, which makes other assets better investment alternatives.
Recent history has been spectacularly good for most asset classes but there is a the colossal gap between fundamentally-based forecasts of stockmarket returns over the next 5-10 years and investor expectations.
Bull markets tend to follow their own momentum until they hit a clear opposing force. The economy is like a spring about to be uncoiled with the most obvious restraint on the horizon is the return of inflation.
Try having a direct conversation with a board member without going through the company's PR team. Boards can become managed and co-opted by company executives and forget who they work for.
The ability of countries to support their economies today turns on fiscal practices set well before this crisis. Increasing levels of debt escalate overall risk, and tie our hands in the future.
Share markets are booming not because companies are increasing earnings, but because falling interest rates are driving asset prices ever-higher. It is artificial and it will not end well.
If you knew your incoming boss thought something the business does is 'absolutely abhorrent', would you fix it before he arrived? I know I would.
At a time when value investing is under attack, a reminder that Benjamin Graham heavily influenced Warren Buffett and Charlie Munger, and they have built his ideas into broad investing strategies.
Value of forecasts, bond face-off: Chin versus Rochford, know what you own, Howard Marks on tax, ASX trends, deluded expectations, tax notices coming?
Many investors are deluding themselves expecting high returns without taking risks, and it has poor consequences for retirement planning and setting goals. It pays to be more realistic.
Royal Commission hits, ETF survivors, measure risk, A-REITs, Lucy Brogden interview, excess super caps, Thorny Birds, Chris’s 30 year CFS anniversary.
It’s much easier to measure returns than the risk involved in generating those returns. Yet, it’s crucial to understand risk because in certain markets, higher returns may simply be coming from taking more risk.
The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.
Beneath the dominance of the ASX's largest stocks, much of the market has been left behind. High-quality companies are now trading at levels rarely seen, offering opportunities for investors willing to look deeper.
Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning.
The defining challenge of retirement isn't just about building wealth, it's about converting your lifetime savings into sustainable income. A holistic understanding of different strategies can improve long-term outcomes.
The downfall of the giant and three lessons for investors.
Australia’s market boasts a long record of outperformance, but recent results tell a different story. Is the ASX’s lagging performance a temporary setback or evidence that structural forces will keep global markets ahead?