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From buying the whole market to controlling emotions, John Bogle’s legendary advice reminds investors that patience, discipline, and low costs are the keys to investment success in any market environment.
The headline 30% corporate tax rate masks a complex system of dividend imputation and franking credits that ensures Australian shareholders are taxed only once, challenging traditional measures of tax competitiveness.
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.
9,000 years and no devaluations later, gold is the world’s most enduring store of value. It remains attractive as the value of several paper currencies, including the US dollar, are threatened by deficits and rising debt.
Investing directly in corporate bonds and credit securities has advantages over owning these assets through managed funds or ETFs. They can also provide investors with attractive income and total returns over time.
Listed infrastructure companies often have fabulous assets, with monopoly positions and extremely reliable cash flows. But how do you identify the very best companies, and how do you pick them up at a reasonable price?
Nick Bolton wants to force Magellan to pay out the 7.5% discount on the Global Fund (ASX:MGF) options. Magellan will resist as it must act in the interests of all unitholders and the cost comes from Magellan itself.
Before the last few weeks, sections of US equity markets were rising rapidly, driving a more concentrated market and wide valuation dispersions. The extremes are creating cyclical and structural opportunities.
The heyday of LICs is in the past, when issuers paid generous fees to brokers and advisers to put their clients into new structures. Most LICs now trade at a discount and more managers should change the structure.
The Australian fixed income landscape has changed with conditions now likely to provide many of the defensive attributes that investors have traditionally expected. Asset allocations should be reviewed to reflect this.
There's a common belief that the outperformance of 'growth investing' over 'value investing' since the GFC is simply due to the fall in longer-term interest rates, but is this really the case? The answer may surprise you.
Investors need to adjust to a market regime change of fiscal stimulus and a boom in intangible asset investment. The resulting volatility in nominal GDP is likely to lead to a decline in equity market multiples.
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.