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10 March 2026
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AI is affecting ever expanding fields of human activity, and the way we invest is no exception. Here's how investors, advisors and investment managers can better prepare to manage the opportunities and risks that come with AI.
Data science is increasingly embedded into the research process of investment teams with the resources to exploit new technologies. The way the data is integrated and interpreted is crucial.
Should sin stocks, those companies who engage in activities that are considered unethical or immoral, be excluded from a portfolio, or would this compromise potential performance?
Many large investors pay higher brokerage fees, hoping to gain favour with brokers to gain access to IPOs. Are rare IPO gains worth the loss of quality execution at the best price every day?
Financial advisers spend an inordinate amount of time selecting fund managers for their clients, but is the impact/effort matrix worth it. It's hard enough for good managers to even beat the index.
The main benefit a financial adviser can give clients is not in stock picking or selecting an outperforming manager, but acting as a wealth coach and helping to control emotions.
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?
Choosing a fund manager who outperforms the market on a pre-tax basis is good, but if you also consider the tax effect on that performance, you really start to identify who the best managers are.
Market performance and outperformance can come from many sources, but the main thing to watch for is that you're not paying high 'alpha' fees simply to achieve market 'beta' returns.
The term 'alpha' may be financial jargon, but for fund managers, it's the highly sought-after prize for successful active management that justifies fees charged. But how do you select a good manager?
A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.
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.
The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.
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.
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.
Most commentary on gold's recent record highs focus on it being the product of fear or speculative momentum. That's ignoring the deeper structural drivers at play.