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8 October 2025
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Underpinning the current wave of consolidation amongst Australian super funds is the belief that it helps to be big. Is this really the case and is there any advantage in being a member of a large super fund?
As market uncertainty continues, it is more important than ever to have a sound investment process. To help with a long-term focus, it may be useful to have some guidelines to fall back on when the market noise gets too loud.
Is bigger better for super funds? APRA certainly thinks so as it pushes for more mergers but what might members be losing from a more personal touch? Veteran journalist Greg Bright explains events at Media Super.
Anyone investing in media must understand the momentous change and disruption underway. During a span of just 21 days, US$85 billion of M&A centred on video games, which is now bigger than the movie industry.
Companies always boast the synergies and growth prospects of acquisitions, but dig a little deeper with these questions and you might see why most of these deals fail to add value when finally bedded down.
Fairfax and Nine together will not magically produce a great company. The business models of newspapers and free-to-air TV are compromised by giants in digital and media industries, and viewing habits have changed.
Well-executed mergers and acquisitions can add material shareholder value, but there are plenty of examples where they destroy value, and in the worst cases, jeopardise the entire company.
Hostile takeover battles can produce heated disputes between company directors, managers and shareholders. What’s in the company’s long term interests and who decides? Does shareholder activism aid or hinder?
When analysing the latest takeover offer, these timeless country music lyrics come to mind. Because each situation is different, you'll need to know whether to accept the offer, hold out for more, or just dump and run.
In 2013, M&A market confidence returned and we are already seeing an increase in deal activity this year. However, investors should watch closely to ensure that over-confidence doesn't get in the way of value creation.
There are reasons why small cap stocks have a history of long term outperformance, although recently, the preference for defensive large cap yields has dominated.
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.