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30 April 2025
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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.
US equities rule global markets, but history is littered with examples of markets that seemed invincible — until they weren’t. Diversification will be key for investor portfolios going forwards.
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.
Last year, I wrote an article suggesting returns from ASX stocks would trample those from housing over the next decade. One year later, this is an update on how that forecast is going and what's changed since.
In his latest memo, Marks outlines how today’s markets are dramatically different from those of the past 40 years, that equity valuations are mildly expensive, and the most compelling opportunities for investors.
All the evidence suggests investors can't forecast well. While that might appear to be bad news, if you dig a little deeper, it can create opportunities for those investors that are prepared to think differently.
We use weather forecasts to inform our planning but they do not entirely drive decision making. The same should happen with investment outlooks. A globally diversified portfolio will serve best in unpredictable times.
The end of the year is approaching fast, when investors consider rebalancing their portfolios. What are the big themes in a market facing the threat of inflation and rising rates for the first time in many years?
Investors should prepare for a decade of returns below historical averages for both stocks and bonds. Over the next decade, equity returns may be tiny compared with the lofty double-digit returns of recent years.
Recent history has been spectacularly good for most asset classes but there is a the colossal gap between fundamentally-based forecasts of stockmarket returns over the next 5-10 years and investor expectations.
Markets always deliver delusions and manias, but there's something unique now. Investors do not speak a common language at a time when there's more money for speculative ideas than ever. Check the water.
There are only three sources of returns when investing in companies. Whether an investment delivers on dividends, earnings or valuation expansion determines performance, and the contribution of each varies over time.
The famed investor says the rapid switch from globalisation to trade wars is the biggest upheaval in the investing environment since World War Two. And a new world requires a different investment approach.
Trump's tariffs and China's retaliatory strike have sent the Nasdaq into a bear market with the S&P 500 not far behind. What are the implications for the economy and markets, and what should investors do now?
Labor has announced a $2.3 billion Cheaper Home Batteries Program, aimed at slashing the cost of home batteries. The goal is to turbocharge battery uptake, though practical difficulties may prevent that happening.
Are you living your life by default or by design? It strikes me that many people are doing the former and living according to others’ expectations of them, leading to poor choices including with their finances.
Larry Fink is one of the smartest people in the finance industry. In his latest shareholder letter, the Blackrock CEO outlines his quest to become the biggest player in private assets and upend investor portfolios.
Every crisis throws up opportunities. Here are ideas to capitalise on this one, including ‘overbalancing’ your portfolio in stocks, buying heavily discounted LICs, and cherry picking bombed out sectors like oil and gas.