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Active Funds Management

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The problem with concentrated funds

Many investors, including Warren Buffett, advocate concentration in funds - after all, if you don't have high conviction in positions, what's the point? Yet, there are a few compelling reasons to be sceptical of this approach.

The ASX's 16-year drought: a rebuttal

The ASX All Ordinaries index is around the same price that it was in 2007, so is it time to give up on the local share market and look elsewhere? Here's why you shouldn't listen to the pessimists and stay invested.

Even Warren Buffett lost his edge 20 years ago

Even the fund managers who have out-performed since inception peak early, then suffer declining out-performance after that. It’s a guaranteed slide into mediocrity, even for greats like Warren Buffett, who peaked decades ago.

How to think rationally about shares

Whether it’s too difficult or produces too much volatility, few investors simply purchase a portfolio of 15 to 20 excellent businesses at attractive prices, and give them time to deliver the returns. Why settle for less?

Most viewed in recent weeks

How cutting the CGT discount could help rebalance housing market

A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.

3 ways to fix Australia’s affordability crisis

Our cost-of-living pressures go beyond the RBA: surging house prices, excessive migration, and expanding government programs, including the NDIS, are fuelling inflation, demanding bold, structural solutions.

Is there a better way to reform the CGT discount?

The capital gains tax discount is under review, but debate should go beyond its size. Its original purpose, design flaws and distortions suggest Australia could adopt a better, more targeted approach.

Want your loved ones to inherit your super? You can’t afford to skip this one step

One in five Australians die before retirement and most have not set up their super properly so their loved ones can benefit from all their hard work and savings. 

Welcome to Firstlinks Edition 648 with weekend update

This is my last edition as Editor of Firstlinks. I’m moving onto a new role though the newsletter will remain in good hands until my permanent replacement is found.

  • 5 February 2026

Super is catching up, but ageing is a triple-threat

An ageing Australia is shifting the superannuation system’s focus from accumulation to the lifecycle of retirement. While these pressures have been anticipated for decades, they are now converging at scale and driving widespread industry change.

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