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Saturday, 25 September 2021
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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.
The pandemic has shown that the emerging market complex is more mature, with central bank discipline, strong demand for commodities and a positive outlook for currencies. Diversification into EM is worth a look.
Globally, demand for quality industrial property has driven the strongest period of growth the commercial logistics sector has experienced in many years, but what's happening with office and retail sectors?
All eyes are on Japan and the opportunity to win for competing athletes. After disappointing investors for many years, Japan is also in focus for its value, diversification and the safe haven status of its currency.
There are many reasons why the worries about inflation are overstated and investors should protect their portfolios against falling inflation rather than rising. The economy is completely different to the 1970s.
A structural theme that will drive future earnings growth is the ‘emerging consumer’. The rising wealth in emerging economies will drive sub-sectors such as luxury goods, cosmetics, travel, global brands and alcohol.
Consensus growth forecasts are far too conservative, and the Coalition’s political challenges and the Budget’s economic windfalls will likely spark additional fiscal spending later in 2021, giving further boosts.
US growth forecasts for 2021 are as high as 8%, so is the massive stimulus a superfluous ‘sugar hit’ amid shrinking spare capacity? High government debt points to taxes and reduced benefits, with inflation risks.
Bull markets tend to follow their own momentum until they hit a clear opposing force. The economy is like a spring about to be uncoiled with the most obvious restraint on the horizon is the return of inflation.
The Australian market overall finished flat for calendar 2020, but the pandemic delivered big wins and losses. The companies, sectors and companies you invested in delivered vastly different results.
We need to think hard about how we work and live in the future. How do governments, health gurus, individuals, politicians, businesses and social groups need to act in 2021, both in dealing with COVID and thereafter?
Buoyed by Australia’s response and emergence from the pandemic and recession, the negative short‑term economic costs and disruption do not detract from the longer‑term positive case for Australian equities.
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.
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.
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.
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?