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19 September 2025
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The ASX is exploring the introduction of dual class share structures for listed companies. Opposition is building to the plan but the ASX should ignore the naysayers and bring Australia into line with its global peers.
LIC discounts can be a pain for existing investors but an opportunity for new buyers. To avoid further losses from discount widening or buy/sell spreads, hold for the long term and enjoy the increased income flow.
Price is a subjective measure with no mathematical definition, but valuation approximates the truth. With many stock prices down, investors looking to buy should consider three steps suited to current market conditions.
In 2021, sharemarket gains supported record levels of capital raisings and IPOs in Australia. The range of deals listed here shows the maturity of the local market in providing equity capital.
Subordinated debt issues are a less risky investment than capital notes and hybrids, but each transaction is different and not riskless. The current issue of NAB Subordinated Notes is just one example.
Investors face a barrage of glowing research from investment banks trumpeting the blue sky potential of new companies seeking to be listed on the ASX. It’s crucial to ignore the spin and focus on the business itself.
The Medibank sale was carefully handled to ensure not much was left on the table, but that did not prevent a scramble for shares. Both retail investors and institutions were allocated a fraction of their bids.
When deciding between listed and unlisted infrastructure securities, the focus should be on the cashflows, the risks associated with those cashflows and the entry price to buy the assets.
Australia could unlock smarter investment and greater equity by reforming housing tax concessions. Rethinking exemptions on the family home could benefit most Australians, especially renters and owners of modest homes.
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.
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.
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.
Are franking credits factored into share prices? The data suggests they're probably not, and there are certain types of stocks that offer higher franking credits as well as the prospect for higher returns.
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.