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5 October 2025
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Over the last two years, small caps have underperformed their large cap rivals in Australia, which goes against the global historical trend. Where has our small cap additional performance gone and will it return?
Elroy Dimson maintains the most comprehensive collection of global asset class data (from 1900) and is a leading authority on the history of financial markets. We find out how the numbers inform his own views on investing.
Risk means different things to different people, and there is a misallocation of resources, energy and intellect across the superannuation industry (and investment industry more broadly) to address risk.
The ability of active fund managers to produce outperformance is generally attributed to a unique skill set. However, there are proven contributors to performance which are persistent and systematic, not manager skill.
This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.
An explosion in low-skilled migration to Australia has depressed wages, killed productivity, and cut rental vacancy rates to near decades-lows. It’s time both sides of politics addressed the issue.
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.
Australian housing’s 50-year boom was driven by falling rates and rising borrowing power — not rent or yield. With those drivers exhausted, future returns must reconcile with economic fundamentals. Are we ready?
Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?
This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.