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2 July 2022
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What was bothering markets in 2006? Try the end of cheap money, bond yields rising, high energy prices and record high commodity prices feeding inflation. Who says these are 'unprecedented' times? It's 2006 v 2022.
We are witnessing a shift away from new, “exciting, visionary, ground-breaking companies” to well-established, quality businesses, with resilient cash flows, that make good profits and have solid growth prospects.
New ways to hedge the risks in an equity portfolio are now readily available, including bear funds designed to make money when the market falls. They're not for everyone so check with a financial adviser.
It's not easy focussing on the long term when the short-term news is bad, but strong businesses find a way to thrive when times are tough. Here are three timeless facts and three evergreen mistakes.
The varying degrees of market performance are due to the mix of sectors and stocks in each index. The best plan of attack is to find quality companies in essential services at favourable prices.
The traditional notion that retail investors buy high and sell low has not been supported by activity at this broker, who has seen investors looking for bargains after the Covid-19 sell-off.
Downside risks remain and we expect another leg down, but active managers should take advantage of market dislocations. In the current context, humility and risk management are key.
Fear of missing out in a rallying stock market pushes many investors back into shares even when the outlook is poor. Bear markets usually last longer than we have seen so far during the coronavirus.
As hopes of a V-shaped recovery diminish, so will the revenues of many highly-geared companies. Client redemptions and downgrades will force selling at distressed prices beyond the Fed's capacity.
The tax cost of a ‘portfolio makeover’ from moving equities to a more efficient structure may now be minor compared with the benefits. The market fall is not just an opportunity to find bargains.
All crises are inherently different, but investor reaction to them is remarkably consistent. There's no evidence to suggest this has changed, which means there are importnt lessons from history.
Bear markets caused by recession fears follow a pattern, but we have never seen anything like coronavirus. If financial stimulus and medicine prove ineffective, all bets are off.
With 62% of Australians aged 65 and over relying at least partially on the age pension, are they better off owning their home or renting? There is an extra pension asset allowance for those not owning a home.
With 700 Australians retiring every day, retirement income solutions are more important than ever. Why do millions of retirees eligible for a more tax-efficient pension account hold money in accumulation?
A fund manager argues it is immoral to deny poor countries access to relatively cheap energy from fossil fuels. Wealthy countries must recognise the transition is a multi-decade challenge and continue to invest.
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.
Using the nine dimensions of well-being used by the OECD, and dividing Australians into Baby Boomers, Generation Xers or Millennials, it is surprisingly easy to identify the winners and losers for most dimensions.