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13 September 2026
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Australia's concentrated market makes global diversification essential, but breadth alone is not enough. Investors still need a disciplined framework combining business quality, sensible valuation and a credible catalyst.
Quality strategies shine globally, but Australia's concentrated market tells a different story. Limited diversification and sector dominance can constrain the defensive outcomes investors have seen in broader markets.
The US market has pummelled Australia's over the past 16 years and for good reason: it has some incredible businesses. Australia does too, but if you want to enjoy US-type returns, you need to know where to look.
There's been a 13-year runway of varying degrees of capital allocation that paid little attention to fundamentals and valuation. If there was ever a market environment when quality stocks are expected to perform, it's now.
As investors, we all like to snap up a bargain but cheaply-priced stocks tend to provide short-term, temporary pleasures. Meanwhile, a quality gem is the gift that keeps on giving, even if the entry price seems expensive.
Investment styles go in and out of fashion and can explain why some fund managers spend long periods under- or out-performing an overall index. But what are these major styles?
When researchers identified the benefits of investing in 'value', index providers and asset managers created products to harness the 'value' factor. But is the construction of the index correct?
ETFs have grown rapidly in popularity and diversity, but like managed funds, not all products will survive for the long term and there are consequences if a small-scale ETF is closed by its issuer.
We are not in the heady market conditions of 1987 at the moment, but the biggest problem facing investors will be the urge to panic sell after a major fall, similar to the desire that drives buying at the top.
Home cooking and value investing have much in common. While it takes more time and effort to carefully assemble the right ingredients, the results can pay off over the long run.
The promise of diversification, low costs and access to overseas markets are boosting the popularity of all types of index funds, but broadly diversified cap-weighted equity index funds can only promise ‘average’ returns.
While fund managers are reluctant to reveal their newly-found 'top picks' to the public, there is an underlying process which can be used to identify an attractive company to invest in.
For the last few years there has been much talk of a 'cost-of-living' crisis in Australia and of 'falling living standards'. Lately this has flared up again with the pickup in inflation resulting in a renewed fall in real wages.
Fear of running out has become a defining retirement anxiety. Why do some retirees die with substantial wealth while others deplete their nest egg? Evidence suggests the answer is more complicated than we think.
What if Australia’s golden age of dividends is ending? Rather than overhaul your portfolio, it may be worth considering where new capital can work harder. I discuss four income strategies and the trade-offs behind each.
Conventional wisdom encourages retirees to preserve superannuation. But if those likely to qualify for the Age Pension later in life spend a little more today, it may deliver higher lifetime income and a more stable retirement.
Tax rules have changed, but many investors are still using yesterday’s strategies. Insurance bonds may offer advantages for those seeking greater control, tax efficiency and certainty about their wealth.
Treasury’s latest CGT reform draft delivers a win for testamentary trusts and deceased estates, exempting estate-derived gains from the 30% floor. However, questions on death and divorce rollovers remain unresolved.