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10 June 2025
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In 2002, the share price of the company that became Sydney Airport (SYD) hit 80 cents from the $2 IPO price. After 20 years of astute investment driving revenue increases, it sold to private hands for $8.75 in 2022.
As market uncertainty continues, it is more important than ever to have a sound investment process. To help with a long-term focus, it may be useful to have some guidelines to fall back on when the market noise gets too loud.
Howard Marks updates his views on markets and whether we are in a bubble, but his comments on fund managers in public markets, liquidity premiums in private markets and the role of SPACs were most original.
The quality of the content and editorial attracted us to Cuffelinks and now Firstlinks. Personally, I am an avid reader of the weekly newsletter, as an industry professional and as an investor.
My thanks to our community of readers, writers and sponsors, as we join a global business committed to education for investors and advisers. Morningstar will grow our reach and services and Firstlinks will remain free.
Companies always boast the synergies and growth prospects of acquisitions, but dig a little deeper with these questions and you might see why most of these deals fail to add value when finally bedded down.
The Royal Commission heard how the sale of OnePath by ANZ to IOOF is at risk of being stranded in a minefield of internal and external conflicts, and commissions to financial advisers were again in the spotlight.
Watching the commitment to buying shares by senior executives and board members can be a powerful pointer to company prospects, but investors need to read the right signs.
Well-executed mergers and acquisitions can add material shareholder value, but there are plenty of examples where they destroy value, and in the worst cases, jeopardise the entire company.
In 2013, M&A market confidence returned and we are already seeing an increase in deal activity this year. However, investors should watch closely to ensure that over-confidence doesn't get in the way of value creation.
There are reasons why small cap stocks have a history of long term outperformance, although recently, the preference for defensive large cap yields has dominated.
Sydney is set to become the world’s most expensive city for housing over the next 12 months, a new report shows. Our other major cities aren’t far behind unless there are major changes to improve housing affordability.
The Government's proposed tax has copped a lot of flack though I think it's a reasonable approach to improve the long-term sustainability of superannuation and the retirement income system. Here’s why.
Behind market volatility and tariff threats lies a deeper strategy. Trump’s real goal isn’t trade reform but managing America's massive debts, preserving bond market confidence, and preparing for potential QE.
Australia's superannuation inequities date back to poor decisions made by Parliament two decades ago. If super for the wealthy needs resetting, so too does the defined benefits schemes for our public servants.
The super tax has caused an almighty scuffle, but for SMSFs impacted by the proposed tax, a big question remains: what should they do now? Here are ideas for those wanting to withdraw money from their SMSF.
Strategies to get rich versus stay rich are markedly different. Here is a look at the five main ways to get rich, including through work, business, investing and luck, as well as those that preserve wealth.