Register to receive our free weekly newsletter including editorials.
Wednesday, 29 September 2021
Recently trending
Scott Pape, author of The Barefoot Investor: "I'm an avid reader of Cuffelinks. Thanks for the wonderful resource you have here, it really is first class."
Reader: "Love it, just keep doing what you are doing. It is the right length too, any longer and it might become a bit overwhelming."
Reader: "Great resource. Cuffelinks is STILL the one and only weekly newsletter I regularly read."
Jonathan Hoyle, CEO, Stanford Brown: "A fabulous publication. The only must-read weekly publication for the Australian wealth management industry."
Reader: "It's excellent so please don't pollute the content with boring mainstream financial 'waffle' and adverts for stuff we don't want!"
Don Stammer, leading Australian economist: "Congratulations to all associated. It deserves the good following it has."
Steve: "The best that comes into our world each week. This is the only one that is never, ever canned before fully being reviewed by yours truly."
Reader: "Best innovation I have seen whilst an investor for 25 years. The writers are brilliant. A great publication which I look forward to."
David Goldschmidt, Chartered Accountant: "I find this a really excellent newsletter. The best I get. Keep up the good work!"
Andrew Buchan, Partner, HLB Mann Judd: "I have told you a thousand times it's the best newsletter."
Reader: "Is one of very few places an investor can go and not have product rammed down their throat. Love your work!"
Ian Silk, CEO, AustralianSuper: "It has become part of my required reading: quality thinking, and (mercifully) to the point."
John Pearce, Chief Investment Officer, Unisuper: "Out of the (many many) investmentrelated emails I get, Cuffelinks is one that I always open."
Noel Whittaker, author and financial adviser: "A fabulous weekly newsletter that is packed full of independent financial advice."
Reader: "The BEST in the game because of diversity and not aligned to financial products. Stands above all the noise."
Reader: "Keep it up - the independence is refreshing and is demonstrated by the variety of well credentialed commentators."
Reader: "Carry on as you are - well done. The average investor/SMSF trustee needs all the help they can get."
Reader: "I can quickly sort the items that I am interested in, then research them more fully. It is also a regular reminder that I need to do this."
Reader: "An island of professionalism in an ocean of shallow self-interest. Well done!"
John Egan, Egan Associates: "My heartiest congratulations. Your panel of contributors is very impressive and keep your readers fully informed."
Vishal Teckchandani, Content Editor, nabtrade: "Exceptional investment literature of the highest possible quality."
Reader: "I subscribe to two newsletters. This is my first read of the week. Thank you. Excellent and please keep up the good work!"
Eleanor Dartnall, AFA Adviser of the Year, 2014: "Our clients love your newsletter. Your articles are avidly read by advisers and they learn a great deal."
Ian Kelly, CFP, BTACS Financial Services: "Probably the best source of commentary and information I have seen over the past 20 years."
Reader: " Finding a truly independent and interesting read has been magical for me. Please keep it up and don't change!"
Rob Henshaw: "When I open my computer each day it's the first link I click - a really great read."
Australian Investors Association: "Australia's foremost independent financial newsletter for professionals and self-directed investors."
Reader: "Congratulations on a great focussed news source. Australia has a dearth of good quality unbiased financial and wealth management news."
It's complicated. Rising bond yields reflect optimism about economic growth and improving business conditions. But as the recovery matures, increases in bond rates prove counter-productive, kerbing economic growth.
The gap between property yields and bond yields is known as the ‘risk premium’, the excess yield from investment in commercial property. The high yield spread signals limited downside to commercial property values.
Conservative investors are forced to choose between protecting capital and accepting lower income while drawing down capital to maintain living standards or taking additional risk. How can you strike a balance?
The recent spike in US Treasury bond yields is a clear warning that investors globally are again starting to worry about inflation and the potential impact it could have on monetary policy and financial markets.
After a strong rally since March 2020, markets are increasingly worrying about the threat of inflation and higher interest rates. Ironically, it might be at a time of strong economic growth which benefits companies.
Lower bond yields have been used to justify higher share market valuations for much of the last decade. Now bond rates are rising and there is an inflation threat, what determines whether equities will be hit?
Bonds have been strong performers over many decades and always play a role in defensively-positioned portfolios. There are some basic principles investors should understand such as the types of yield.
The impact of the pandemic on Australia's debt and deficit has forced the government into borrowing on a scale unimaginable at the start of 2020. What are the implications, and what is even more important?
The signs are that bond yields could stay low for a long time. This has important implications for future returns, but are we heading for the Big Bang, the Big Crunch or the Steady State?
Many investors are struggling with the idea of negative yields on bonds, but with $17 trillion on issue, it's worth taking a moment to think about what it actually means for your portfolio.
Australian bond rates are now lower than during recessions and depressions of the past, but it's not driven by local fundamentals. The world of interest rates is in a place it's never been before in history.
We like a good debate, and when two opposing views argued about the role of government bonds in a diversified portfolio, a veteran of 30 years in fixed interest stepped in as referee.
The RBA Governor says rising house prices are due to "the design of our taxation and social security systems". The OECD says "the prolonged boom in house prices has inflated the wealth of many pensioners without impacting their pension eligibility." What's your view?
It's a remarkable statistic. In any year since 1875, if you had invested in the Australian stock index, turned away and come back eight years later, your average return would be 120% with no negative periods.
Never stand between Australian households and an uncapped government programme with $3 billion in ‘free money’ to build or renovate their homes. But excess supply is coming with an absence of net migration.
Picking macro trends is difficult. What may seem logical and compelling one minute may completely change a few months later. There are better rewards from focussing on identifying the best companies at good prices.
The survey drew a fantastic 2,000 responses with over 1,000 comments and polar opposite views on what is good policy. Do most people believe the home should be in the age pension asset test, and what do they say?
Critics of franking credits are missing the main point. The taxable income of shareholders/taxpayers must also include the company tax previously paid to the ATO before the dividend was distributed. It is fair.