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22 August 2025
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Equity indices have evolved over time, led by step-changes in our ability to manipulate data. Despite the rise of passive investing, they weren't initially meant to be investment tools.
What is the catalyst for smalls caps to start outperforming their larger counterparts? Cheap relative valuation is bullish though it isn't a catalyst, so what else could drive a long-awaited turnaround?
Many investors are looking to emerging markets due to stretched valuations in developed markets, but there are particular reasons why choosing a passive ETF in emerging markets may not be optimal.
Inefficiencies in the small caps index means outperformance is common but that should not cost 60% more in fees than large caps. Large caps have outperformed small caps over the long term but with significant variability.
Investors celebrated when the Dow broke through the 20,000 mark last month, but in real terms, it's a more sobering picture. Australian stocks in particular are struggling to reach their previous heights.
Since the 1900s, share market returns for US and Australian investors have been similar over the long run, but lately, US shares have outperformed with the current tech boom. How about +66% versus -2% since 2007.
Index and asset allocation specialists, Research Affiliates, have tested a theory they call the ‘Rip van Winkle’ approach. It uses a cap-weighted index portfolio drawing the data from 20 years earlier to prove a point.
The SPIVA Australia Scorecard measures the performance of actively-managed funds compared with the relevant S&P indexes. Results from the most recent Scorecard are not pretty for active managers.
If you are not happy to own the entire business for a decade, you should not be comfortable owners of even one share for just a few minutes. Time is the friend of the extraordinary business but the enemy of the poor business.
* Changes in ASX100 show how long term trends benefit or harm companies. Publishers Fairfax and PMP out, online REA and Trade Me in.
* Institutions (including superannuation funds and offshore investors) own 90.1% of the issued capital of Australia’s top 300 companies.
Each generation believes its economic challenges were uniquely tough - but what does the data say? A closer look reveals a more nuanced, complex story behind the generational hardship debate.
The Labor government is talking up tax reform to lift Australia’s ailing economic growth. Before any changes are made, it’s important to know who pays tax, who owns assets, and how much people have in their super for retirement.
This goes through the different options including shares, property and business ownership and declares a winner, as well as outlining the mindset needed to earn enough to never have to work again.
Everyone has a theory as to why housing in Australia is so expensive. There are a lot of different factors at play, from skewed migration patterns to banking trends and housing's status as a national obsession.
China's steel production, equivalent to building one Sydney Harbour Bridge every 10 minutes, has driven Australia's economic growth. With China's slowdown, what does this mean for Australia's economy and investments?
The creator of the 4% rule for retirement withdrawals, Bill Bengen, has written a new book outlining fresh strategies to outlive your money, including holding fewer stocks in early retirement before increasing allocations.