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11 October 2024
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After more than a decade of pitiful yields, bonds are back offering better prospects for income investors. What are the best ways to take advantage of the market inefficiencies in Australian fixed income?
Every fund is measured against a benchmark, but active managers earn their fees by taking strong views contrary to an index. It requires fortitude in the short term as interviews with Orbis and Allan Gray show.
In 2023, the focus will shift to the economic cycle. While equities and some of the riskier fixed income markets have challenges, a solid risk-free rate added to a 3-4% equity risk premium is a good through-cycle return.
Five years ago, the move towards passive investment in the US was obvious, and warranted. But there are compelling reasons to think that the next decade will be a more productive environment for active strategies.
The active versus passive debate rests on the lazy assumption that it's not possible to consistently choose managers that outperform. Both the premise and (hence) the narrative are flawed.
It is a tough time to be investing in growth stocks but there may be ways investors can take advantage of lower prices and be well positioned when the market and interest rates return to normality.
Active rebalancing is vital to prevent a portfolio drifting strongly away from its desired asset allocation. See how 60/40 can become 80/20, and is that the correct portfolio in the face of volatility and risk?
The story of Mr Market originated with Ben Graham and was further popularised by Warren Buffett, but does it still hold true? Based on experience, the two-investor scheme looks hopelessly oversimplified.
Investing is a field where experience matters, but we all operate with a set of beliefs. Staying on top of market research gives useful lessons for investors and challenges common assumptions.
Investing in a traditional index can be compared with taking the main road to a destination, but if you know the backroads and traffic conditions, you coud reach your goal quicker.
Where once the name plates of exciting new fund managers proudly displayed, now there are blank spaces. What is happening in the industry that so many talented people are closing the doors?
Many active managers are closet indexers. The real cost of forcing a skilled manager into a low tracking error is the limit to the upside.
News Corp's plans to sell Foxtel are surprising in that streaming assets Kayo, Binge and Hubbl look likely to go with it. This and recent events in the US show the bind that legacy TV businesses find themselves in.
The number of high-net-worth individuals in Australia has increased by almost 9% over the past year, and they now own $3.3 trillion in investable assets. A new report reveals how the wealthy are investing their money.
It surprises me how often individual investors and even seasoned financial professionals don’t know the basics of building an investment portfolio. Here is a guide to do just that, as well as the challenges involved.
Is it possible to build a portfolio that performs well in any economic environment? So-called 'All Weather' portfolios have become more prominent of late, and this looks at what these portfolios are and their pros and cons.
The current difficulties confronting housing policy partially stem from an explosion of mortgage debt. We've engineered a price for housing that will cause a severe problem for future generations – if it isn't addressed.
Many assets have enjoyed a positive year, leaving some of them looking pricey. Here we compare valuations of cash, bonds, stocks, and property, and suggest where investors may be able to find opportunities.