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16 August 2022
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We are witnessing a shift away from new, “exciting, visionary, ground-breaking companies” to well-established, quality businesses, with resilient cash flows, that make good profits and have solid growth prospects.
In reporting season, companies must deliver their results and many issue guidance for the next year. The response often send prices up or down and the market may make swift and not well-considered decisions.
Stock buybacks improve earnings per share, making it look like better company performance. In the US, if buybacks stop for any reason, both management and investors alike will have to shift earnings per share expectations downwards.
Many new 'disruptive' businesses are simply older-style businesses dressed up, and even if it's an attractive and ultimately profitable new space, competitors will join the party.
Companies ranked 51st to 100th by ASX capitalisation are in the mid-cap sector. They have better historic returns, industry diversity, insider ownership, and growth prospects than the S&P/ASX50.
When you've been around long enough to have witnessed financial disasters, you wonder at the exuberance of youth embracing the great unknown. Are you missing out or will being old and tired eventually prevail?
Amid thousands of comments, tips include developing interests to keep occupied, planning in advance to have enough money, staying connected with friends and communities ... should you defer retirement or just do it?
Retirement is a good experience if you plan for it and manage your time, but freedom from money worries is key. Many retirees enjoy managing their money but SMSFs are not for everyone. Each retirement is different.
Investing is often portrayed as unapproachably complex. Can it be distilled into nine tips? An economist with 35 years of experience through numerous market cycles and events has given it a shot.
A new standard argues the majority of Australians will never achieve the ASFA 'comfortable' level of retirement savings and it amounts to 'fearmongering' by vested interests. If comfortable is aspirational, so be it.
Billionaire fund manager standoff: Ray Dalio thinks investing is common sense and markets are simple, while Howard Marks says complex and convoluted 'second-level' thinking is needed for superior returns.
If you feel fear when the market loses its head, you become part of the herd. Develop habits to embrace the fear. Identify the cause, decide if you need to take action and own the result without looking back.