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29 December 2025
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Technological leaps - from air travel to computing - has enriched society but squeezed margins. As AI accelerates, investors must separate progress from profitability to avoid repeating past mistakes.
Investments in intangible assets are as crucial to many companies as investments in capital equipment. The different accounting treatment of these investments, however, weighs on reported earnings and could render ratios like P/E less useful for investors.
There have been few times in the past 140 years when investors were willing to pay for more than 30 years’ worth of earnings, yet here we are around 40. This starting point does not augur well for future returns.
Estimating the value of a company based on a multiple of earnings is a common investment analysis technique, but it is often useless. Multiples do a poor job of valuing the best growth businesses, like Microsoft.
Cryptocurrencies have created the perfect recipe to encourage speculation with the most important ingredient for a bubble to form being something new and shiny to attract investor attention. What's it really worth?
As much as value investors with spare cash want to jump on undervalued companies, it's probably not the time to buy the dip in the market just yet as the US braces for coronavirus's full impact.
BlackRock's CEO, Larry Fink, wrote to over 1,000 business leaders on the importance of long-term value creation and why companies should make a positive contribution to society.
Retirement isn’t a clean financial arc. Income shocks, health costs and family pressures hit at random, exposing the limits of age-based planning and the myth of a predictable “retirement journey".
The superannuation system has succeeded brilliantly at what it was designed to do: accumulate wealth during working lives. The next challenge is meeting members’ diverse needs in retirement.
Two years ago, I wrote an article suggesting that the odds favoured ASX shares easily outperforming residential property over the next decade. Here’s an update on where things stand today.
I am a professional real estate investor who hears a lot of opinions rather than facts from so-called experts on the topic of property. Here are the largest myths when it comes to Australia’s biggest asset class.
In an interview with Firstlinks, CEO Mark Freeman discusses how speculative ASX stocks have crushed blue chips this year, companies he likes now, and why he’s confident AFIC’s NTA discount will close.
It might not be quite an ‘everything bubble’ but there’s froth in many assets, not just US stocks, right now. It might be time to stress test your portfolio and consider assets that could offer you shelter if trouble is coming.