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Friday, 17 September 2021
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The long current positive run for the Australian stock market is unusual but not a warning of imminent demise. Previous long positive runs were not all followed by corrections but this one may end this month.
All eyes are on Japan and the opportunity to win for competing athletes. After disappointing investors for many years, Japan is also in focus for its value, diversification and the safe haven status of its currency.
The shift in dynamics from growth to value can be seen in the rotation of tech and communications names out of the top 20 performers to be replaced by value-style industrials, energy and financials. Will it continue?
The global recession came quickly and deeply but it has given way to a strong rebound. What are the lessons for investors, how should a portfolio change and what role will inflation play?
Consensus growth forecasts are far too conservative, and the Coalition’s political challenges and the Budget’s economic windfalls will likely spark additional fiscal spending later in 2021, giving further boosts.
There are many reasons why 2021 has the potential to be a great year for equities. What are the themes and opportunities most likely to deliver, and how much is inflation a threat?
Australia’s economic recovery is expected to be strong in 2021. It may appear the local economy is lagging other countries as they recover but that is only because we are not starting from such a low base.
Bull markets tend to follow their own momentum until they hit a clear opposing force. The economy is like a spring about to be uncoiled with the most obvious restraint on the horizon is the return of inflation.
Sitting on the sidelines means missing the best days in the market and forgoing initial recovery periods that may include healthy index increases. Here are investment themes to guide through turbulence.
Questions on the stock market/economy disconnect, how to focus long term, technology's growing role, income in a low-rate world, Modern Monetary Theory and endless debt and the tooth fairy.
The recovery from COVID-19 is looking more like a K-shape, with some companies doing well while others struggle. The pandemic seems more akin to a black swan, exogenous shock than a structural downturn.
We discover which asset classes you have been investing in during the pandemic, how portfolio values have changed, and also your outlook on market recovery. Much diversity of opinion.
Who knew? With some surprise results, the Government is on unexpected firm ground in asking people to draw on all their assets in retirement, although the comments show what feisty and informed readers we have.
It's a remarkable statistic. In any year since 1875, if you had invested in the Australian stock index, turned away and come back eight years later, your average return would be 120% with no negative periods.
Never stand between Australian households and an uncapped government programme with $3 billion in ‘free money’ to build or renovate their homes. But excess supply is coming with an absence of net migration.
Picking macro trends is difficult. What may seem logical and compelling one minute may completely change a few months later. There are better rewards from focussing on identifying the best companies at good prices.
Some high-quality companies have emerged even stronger since the onset of COVID and are well placed for outperformance. We call these the ‘COVID Opportunists’ as they are now dominating their specific sectors.
Critics of franking credits are missing the main point. The taxable income of shareholders/taxpayers must also include the company tax previously paid to the ATO before the dividend was distributed. It is fair.