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9 October 2025
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The US market is heading for back-to-back years with returns of more than 20% and the last that happened was at the height of the dot-com bubble. Can American exceptionalism continue or is it time to look elsewhere for ideas?
Equity investing comes with volatility that makes many retirees uncomfortable. A focus on income which is less volatile than share prices, and quality companies delivering robust earnings, offers more reassurance.
Company results reported in February 2022 showed some cost increases but most enjoyed major revenue upgrades, especially in the commodity and financial sectors. Here are portfolio highlights from two fund managers.
As more Australians tilt their investments to global equities, they often overlook the exchange rate risk and fees. The move from US57 cents to US73 cents in six months shows the unhedged impact.
Traditional SMSF asset allocations to cash, banks and property are changing as ultra-low interest rates start to bite, and SMSFs take on more diversified equity and fixed interest exposures.
Looking back over the last decade shows the factors which have driven success for some companies and failure for others, driven by falling interest rates, a lower Aussie dollar and technology changes.
The valuation maths of many expensive companies simply cannot work. They assume low interest rates for long terms, but strong economic growth to drive ongoing success. You can't have both.
There’s a lot of talk of the WAAAX stocks causing fund underperformance, but they’re simply not big enough compared with choosing the wrong winners and losers among the large cap stocks.
SMSFs are continuing to use the ASX20 as a bargain buy, but are also diversifying into mid caps and international shares via direct investments, ETFs and LICs.
Long-term oil price projections and currency appreciation make the current valuations of many Australian companies look overly optimistic. Extra supply can be turned on quickly when prices start to rise.
A Senate Inquiry is examining the need for a Modern Slavery Act, and many Australian companies are reporting on their activities due to their overseas business. It's the next front towards more sustainable investing.
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.
Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?
This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.
Retirement can be daunting for Australians facing financial uncertainty. Understand your goals, longevity challenges, inflation impacts, market risks, and components of retirement income with these crucial charts.
Five mega trends point to risks of a more inflation prone and lower growth environment. This, along with rich market valuations, should constrain medium term superannuation returns to around 5% per annum.
Australia's superannuation system faces a 'Rubicon' moment, a turning point where the focus is shifting from accumulation phase to retirement readiness, but unfortunately, many funds are not rising to the challenge.