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Lifecycle Theory

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FTX's lessons for Australian investors

The FTX story has it all: fraud, greed, lust, large financiers and political connections. For Australian investors, it might seem the drama is too surreal to have any relevance, yet we think there are lessons to take away.

Financial advisers not allowed to advise

Most financial advisers are forced to use Approved Product Lists, model portfolios, procedures for Statements of Advice, rules of their Professional Indemnity Insurance ... but what about independent advice?

Are lifecycle funds appropriate for MySuper products?

The Stronger Super reforms have significantly raised the profile of lifecycle funds by legitimising their use as a single investment strategy for MySuper products. But are lifecycle funds any better than normal balanced funds?

Don’t spend your career further exposing yourself

We should consider how our investment portfolio interacts with other risks in our lives, including not investing in shares of the company or the industry you are employed by.

An introduction to lifecycle theory

Lifecycle theory is one of the more exciting and applicable research fields in financial academia yet it receives little discussion in Australia’s superannuation industry. The findings have the potential to improve outcomes for Australian households.

Most viewed in recent weeks

Ray Dalio on 2025’s real story, Trump, and what’s next

The renowned investor says 2025’s real story wasn’t AI or US stocks but the shift away from American assets and a collapse in the value of money. And he outlines how to best position portfolios for what’s ahead.

Making sense of record high markets as the world catches fire

The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.

3 ways to fix Australia’s affordability crisis

Our cost-of-living pressures go beyond the RBA: surging house prices, excessive migration, and expanding government programs, including the NDIS, are fuelling inflation, demanding bold, structural solutions.

Is there a better way to reform the CGT discount?

The capital gains tax discount is under review, but debate should go beyond its size. Its original purpose, design flaws and distortions suggest Australia could adopt a better, more targeted approach.

How cutting the CGT discount could help rebalance housing market

A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.

Welcome to Firstlinks Edition 648 with weekend update

This is my last edition as Editor of Firstlinks. I’m moving onto a new role though the newsletter will remain in good hands until my permanent replacement is found.

  • 5 February 2026

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