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21 March 2026
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Despite mixed ASX results, the market has shown surprising resilience. With rate cuts ahead and economic conditions improving, investors should look beyond short-term noise and position for a potential cyclical upswing.
We are trading through one of history's most confounding market environments. One day, financial headlines warn of doomsday scenarios. The next, they celebrate a new golden age. How can investors keep a clear head?
This is probably the most interesting earnings season in my 20-odd-year career, with share prices meaningfully diverging from earnings and prospects. It’s reflected all the greed and fear of investor behaviour.
ASX reporting season focuses on how earnings compare to forecasts, yet there's little mention of how dividends perform versus expectations. A new scorecard aims to rectify this to help income-focused portfolios.
Companies have been slow to update guidance and we have yet to see the impact of inflation expectations in earnings and outlooks. Companies need to insulate costs from inflation while enjoying an uptick in revenue.
Weaker share prices may have already discounted some bad news, but cost inflation is creating wide divergences inside and across sectors. Early results show some companies are strong enough to resist sector falls.
Earnings downgrades are not always bad news. They may present buy-side opportunities if the stock is oversold. It's best to assess the circumstances via a checklist without panicking.
If high levels of intangibles are not written down by the auditors – even after years of generating mediocre returns – the market will often do the writing down for them. Either way, shareholders receive lousy returns.
A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.
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.
One in five Australians die before retirement and most have not set up their super properly so their loved ones can benefit from all their hard work and savings.
An ageing Australia is shifting the superannuation system’s focus from accumulation to the lifecycle of retirement. While these pressures have been anticipated for decades, they are now converging at scale and driving widespread industry change.
The 20 years after Peter Costello left Treasury have been deemed wasted...by Peter Costello. The missed opportunities for Australia began long before.
The best way to deal with the incoming Division 296 tax on superannuation is likely doing nothing. Earnings will be taxed regardless of where the money sits, so here are some important considerations.