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6 October 2025
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Here's a detailed look at how current valuations and profit forecasts for the S&P 500 stack up versus history. The answer? Both seem excessive, making the market vulnerable to a correction or worse.
Major equity indices will need to defy history if they are to deliver anything like the returns of recent years. In a rapidly changing environment, investors may need to look further afield for the next winners.
A new capital cycle is upon us and instead of funding dividends and buybacks, many companies are funding tangible projects. This could result in a whole different set of stock market winners and losers.
Understanding the property cycle can be a useful tool to make informed decisions and stay focused on long-term goals. This looks at where we are in the commercial property cycle and the potential opportunities for investors.
US market concentration in large technology companies has captured investor attention. Here explores how this concentration compares to history and what typically follows periods of extreme concentration.
The negative stock/bond correlation from 1998 until 2019 was the anomaly, not the positive relationship that began in 2022. In the years ahead, portfolio diversification should come increasingly from security and manager selection.
Given the last decade delivered phenomenal stockmarket returns, investors should expect the next decade to prove more challenging. However, 'value' stocks are cheap, providing compelling opportunities for contrarian investors.
Common investor habits are selling when the market falls, worrying about others, a fear of running out of money and losing patience with a fund. Here are strategies and investments to manage these foibles.
With heightened uncertainty and the market near record highs, it's important to focus on companies that are largely insulated from unpredictable macroeconomic risks. CSL and Corporate Travel Management fit the bill.
Last year was rough for investors, especially where equity and bond portfolios were not as diversified as they thought. Spreading the risk sounds simple but watch that funds are not all doing the same thing.
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.
Decelerating inflation should provide a tailwind for high quality bonds but will likely hurt company margins and therefore stock prices. Uncompetitive companies facing elevated capital costs will be most at risk.
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.
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.