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9 May 2024
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Peter Drucker’s axiom “culture eats strategy for breakfast” continues to ring true. If culture is the sophisticated word for execution, Boral has been a standout over the past 12 months, while Fletcher Building has lagged.
Decarbonisation will be a driving theme for markets for decades to come, and estimates of its costs are still far too low. It will benefit mining companies as demand will be structurally higher going forwards.
Charter Hall's Steven Bennett talks through commercial property's challenges and opportunities, Schroders' Rainer Ender on private equity's bright spots, and Peter Warnes on how RBA hawkishness will impact rates and the economy.
The number one aim of investing is to generate an after-tax return above inflation. All major asset classes failed to do that in 2022, though it's more mixed this year, so where does the best value lie for the future?
At a recent webinar, the Schroders team outlined their views on stocks after earnings season including BHP, Rio Tinto, the banks, and healthcare companies. The team is known for its contrarian views and it didn't disappoint.
Young people hold the majority of home loans while older people have the vast majority of deposits. It's not hard to see why rising interest rates are hurting the young and resulting in increased intergenerational tension.
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.
There have been 11 occasions in the 148 years between 1871 and 2019 when US stocks destroyed at least 25% of value for investors. What has been the best strategy to recover the losses?
Inefficiencies in the small caps index means outperformance is common but that should not cost 60% more in fees than large caps. Large caps have outperformed small caps over the long term but with significant variability.
The rapid rise in investments into passive vehicles is having a distortive effect on markets as the flows are prone to sudden reversals. The cheap cost may come with a paradoxical result.
Chasing higher market returns inevitably comes with higher risk, but is there a portfolio 'sweet spot' that accepts some risk in exchange for better performance, while keeping fees under control?
Meeting real return objectives in a low growth environment is a challenge. Investors will need to use cyclical volatility to their advantage by riding the upside and, importantly, avoiding the falls.
The 'lower for longer' mantra has become common, but investors can assess current market conditions to achieve decent returns after inflation, without taking on extreme levels of risk.
The market rewards companies it thinks allocate capital well and similarly punishes those who don’t. It tries to anticipate the future and thus the changes in future returns on capital before they happen.
Life has radically shifted with my brain cancer, and I don’t know if it will ever be the same again. After decades of writing and a dozen years with Firstlinks, I still want to contribute, but exactly how and when I do that is unclear.
How useful are the retirement savings and spending targets put out by various groups such as ASFA? Not very, and it's reducing the ability of ordinary retirees to fully understand their retirement income options.
Australia will have 3.7 million more people in a decade's time, though the growth won't be evenly distributed. Over 85s will see the fastest growth, while the number of younger people will barely rise.
The $3 million super tax will capture retired, and soon to retire, public servants and politicians who are members of defined benefit superannuation schemes. Lobbying efforts for exemptions to the tax are intensifying.
Recently, I compiled a list of ASX stocks that you could buy and hold forever. Here’s a follow-up list of US stocks that you could own indefinitely, including well-known names like Microsoft, as well as lesser-known gems.
Debates about retirement tend to focus on the financial aspects: income, tax, estates, wills, and the like. Less attention is paid to the psychological challenges of retirement, which can often be more demanding.