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Capital Management

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Two great examples of why company management matters

It’s not only products and business models that create wealth. Management teams make decisions on how to deploy capital and such actions drive vastly different outcomes over time.

RCR Tomlinson collapse gives lessons for retail investors

Large companies supported and promoted by investment managers, brokers, analysts and investment banks have disappeared quickly sometimes. Retail investors should manage equity risk by diversification.

Overcoming loss aversion in retirement income

Loss aversion means some people avoid annuities because a premature death may lead to a loss of capital, but lifetime annuities with death benefits aim to address this problem.

Companies crying wolf

The market rewards companies it thinks allocate capital well and similarly punishes those who don’t. It tries to anticipate the future and thus the changes in future returns on capital before they happen.

Financial leverage in real estate: friend or foe?

Financial leverage is already built into many real estate funds and companies, and borrowing even more to invest can produce spectacular results - on both the upside and the downside.

Capital management techniques in LICs

Many capital management techniques are used by LICs in an attempt to narrow or eliminate the discount at which the price trades relative to net tangible assets – all with varying success.

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The ultimate superannuation EOFY checklist 2026

Here is a checklist of 28 important issues you should address before June 30 to ensure your SMSF or other super fund is in order and that you are making the most of the strategies available.

Noel Whittaker’s take on the budget

Marketed as a fix for inequality and housing affordability, the latest budget instead delivers a tangle of tax changes that leave everyday Australians worse off.

Australia has no death duties. Technically.

Australia may not levy formal death duties, but a growing web of tax measures is quietly shaping what wealth passes between generations. Now, the 2026 budget adds another layer.

Lithium's rally is real this time – but no-one trusts it

The lithium rally mirrors the early-2010s tech stock surge, with demand set to double by 2030. Supply has been slow to respond, creating a market deficit for future tech like humanoid robotics and solid-state batteries.

Welcome to Firstlinks Edition 662 with weekend update

The debate over the budget is increasingly shaped by frustration and perceptions of unfairness, rather than clear-eyed assessment of policy outcomes.

Two months into retirement

A retirement researcher's take on retirement and her focus on each of her six resource buckets to stay engaged during the transition and beyond.

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