Register to receive our free weekly newsletter including editorials.
9 July 2025
Recently trending
Reader: " Finding a truly independent and interesting read has been magical for me. Please keep it up and don't change!"
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."
Reader: "Carry on as you are - well done. The average investor/SMSF trustee needs all the help they can get."
John Pearce, Chief Investment Officer, Unisuper: "Out of the (many many) investmentrelated emails I get, Cuffelinks is one that I always open."
Reader: "Keep it up - the independence is refreshing and is demonstrated by the variety of well credentialed commentators."
David Goldschmidt, Chartered Accountant: "I find this a really excellent newsletter. The best I get. Keep up the good work!"
Don Stammer, leading Australian economist: "Congratulations to all associated. It deserves the good following it has."
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: "The BEST in the game because of diversity and not aligned to financial products. Stands above all the noise."
Reader: "Is one of very few places an investor can go and not have product rammed down their throat. Love your work!"
John Egan, Egan Associates: "My heartiest congratulations. Your panel of contributors is very impressive and keep your readers fully informed."
Ian Kelly, CFP, BTACS Financial Services: "Probably the best source of commentary and information I have seen over the past 20 years."
Reader: "Best innovation I have seen whilst an investor for 25 years. The writers are brilliant. A great publication which I look forward to."
Jonathan Hoyle, CEO, Stanford Brown: "A fabulous publication. The only must-read weekly publication for the Australian wealth management industry."
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."
Professor Robert Deutsch: "This has got to be the best set of articles on economic and financial matters. Always something worthwhile reading in Firstlinks. Thankyou"
Noel Whittaker, author and financial adviser: "A fabulous weekly newsletter that is packed full of independent financial advice."
Reader: "An island of professionalism in an ocean of shallow self-interest. Well done!"
Andrew Buchan, Partner, HLB Mann Judd: "I have told you a thousand times it's the best newsletter."
Reader: "I subscribe to two newsletters. This is my first read of the week. Thank you. Excellent and please keep up the good work!"
Australian Investors Association: "Australia's foremost independent financial newsletter for professionals and self-directed investors."
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: "Great resource. Cuffelinks is STILL the one and only weekly newsletter I regularly read."
Reader: "Congratulations on a great focussed news source. Australia has a dearth of good quality unbiased financial and wealth management news."
Reader: "It's excellent so please don't pollute the content with boring mainstream financial 'waffle' and adverts for stuff we don't want!"
Rob Henshaw: "When I open my computer each day it's the first link I click - a really great read."
Ian Silk, CEO, AustralianSuper: "It has become part of my required reading: quality thinking, and (mercifully) to the point."
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."
Market extremes are where the biggest investment risks and opportunities lie. While events like this are usually only obvious in hindsight, learning to watch out for these two words can alert you to them in real time.
Our economy grew by a nominal rate of 7% per annum from 2017 to 2024, but it benefited from the largesse of fiscal and monetary policies, both of which are now fading. We need a new, credible economic growth agenda.
A new capital cycle is upon us and instead of funding dividends and buybacks, many companies are funding tangible projects. This could result in a whole different set of stock market winners and losers.
The CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.
DeepSeek has surprised investors, but it shouldn't: it's part of a normal capital cycle. Big tech companies have made a lot of money, which attracts capital and competition, and eventually hurts returns and incumbent share prices.
The discrepancies that are appearing between Treasury budget forecasts and actual outcomes need closer examination. The inaccurate forecasts are impacting economic projections and investment decisions.
As every aspect of our lives has been transformed by digitisation, the changing nature of money and currencies should come as no surprise. But while bitcoin is here to stay, many investors still lack a clear grasp of what it is.
Trump's election has turbocharged US equities, but can that outperformance continue? Expensive valuations, rising bond yields, and a potential narrowing of EPS growth versus the rest of the world, are risks.
Key lessons include expensive stocks can always get more expensive, Bitcoin is our tulip mania, follow the smart money, the young are coming with pitchforks on housing, and the importance of staying invested.
US bank balance sheets are expanding again, driving increasing money supply that is finding its way into markets. It means inflation is likely to remain high, and inflation hedges like Bitcoin and gold may continue to do well.
Will the Year of the Dragon prove a fruitful one for markets? Strong labor markets and a loosening in financial conditions should help in the first half of 2024, though things may get more rocky as the year progresses.
Regardless of how an investor owns an asset, they need to know how a business is sustainable over the long term. By influencing the activities or behaviour of investee companies, returns can be enhanced.
You've no doubt heard about Division 296. These case studies show what people at various levels above the $3 million threshold might need to pay the ATO, with examples ranging from under $500 to more than $35,000.
The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.
The super tax has caused an almighty scuffle, but for SMSFs impacted by the proposed tax, a big question remains: what should they do now? Here are ideas for those wanting to withdraw money from their SMSF.
Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.
With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains.
The current net annual cost of superannuation tax subsidies is around $40 billion, growing to more than $110 billion by 2060. These subsidies have always been bad policy, representing a waste of taxpayers' money.