Register to receive our free weekly newsletter including editorials.
21 May 2025
Recently trending
Reader: "Congratulations on a great focussed news source. Australia has a dearth of good quality unbiased financial and wealth management news."
Australian Investors Association: "Australia's foremost independent financial newsletter for professionals and self-directed investors."
Reader: "I can quickly sort the items that I am interested in, then research them more fully. It is also a regular reminder that I need to do this."
Reader: "An island of professionalism in an ocean of shallow self-interest. Well done!"
Eleanor Dartnall, AFA Adviser of the Year, 2014: "Our clients love your newsletter. Your articles are avidly read by advisers and they learn a great deal."
Ian Kelly, CFP, BTACS Financial Services: "Probably the best source of commentary and information I have seen over the past 20 years."
Reader: "Great resource. Cuffelinks is STILL the one and only weekly newsletter I regularly read."
Reader: "Best innovation I have seen whilst an investor for 25 years. The writers are brilliant. A great publication which I look forward to."
David Goldschmidt, Chartered Accountant: "I find this a really excellent newsletter. The best I get. Keep up the good work!"
John Egan, Egan Associates: "My heartiest congratulations. Your panel of contributors is very impressive and keep your readers fully informed."
Reader: "Keep it up - the independence is refreshing and is demonstrated by the variety of well credentialed commentators."
Jonathan Hoyle, CEO, Stanford Brown: "A fabulous publication. The only must-read weekly publication for the Australian wealth management industry."
Scott Pape, author of The Barefoot Investor: "I'm an avid reader of Cuffelinks. Thanks for the wonderful resource you have here, it really is first class."
Don Stammer, leading Australian economist: "Congratulations to all associated. It deserves the good following it has."
Reader: "I subscribe to two newsletters. This is my first read of the week. Thank you. Excellent and please keep up the good work!"
Rob Henshaw: "When I open my computer each day it's the first link I click - a really great read."
Ian Silk, CEO, AustralianSuper: "It has become part of my required reading: quality thinking, and (mercifully) to the point."
Steve: "The best that comes into our world each week. This is the only one that is never, ever canned before fully being reviewed by yours truly."
Reader: "Carry on as you are - well done. The average investor/SMSF trustee needs all the help they can get."
Reader: " Finding a truly independent and interesting read has been magical for me. Please keep it up and don't change!"
Reader: "Love it, just keep doing what you are doing. It is the right length too, any longer and it might become a bit overwhelming."
Reader: "It's excellent so please don't pollute the content with boring mainstream financial 'waffle' and adverts for stuff we don't want!"
Andrew Buchan, Partner, HLB Mann Judd: "I have told you a thousand times it's the best newsletter."
John Pearce, Chief Investment Officer, Unisuper: "Out of the (many many) investmentrelated emails I get, Cuffelinks is one that I always open."
Professor Robert Deutsch: "This has got to be the best set of articles on economic and financial matters. Always something worthwhile reading in Firstlinks. Thankyou"
Reader: "Is one of very few places an investor can go and not have product rammed down their throat. Love your work!"
Reader: "The BEST in the game because of diversity and not aligned to financial products. Stands above all the noise."
Noel Whittaker, author and financial adviser: "A fabulous weekly newsletter that is packed full of independent financial advice."
Accounting losses from a pandemic inspired bond buying spree have wiped out the RBA's equity and more, pushing its balance sheet into negative equity territory. How did it happen and what lessons can be learned?
Deputy Governor, Michelle Bullock, explained last week why the RBA bought $280 billion of bonds in its QE programme, but are we paying the price for this stimulus as rising inflation shocks central bankers?
Not long ago, globalisation seemed on a relentless growth path, promising to bring everyone into a global economy. But with politics, pandemics and the Ukraine war, 'geoeconomics’ will lower living standards for all.
To add to the world's problems, high inflation is exposing Europe's frailties and poorer nations have no independent monetary policies to help their economies. Core problems cannot always be kicked down the road.
The US Federal Reserve's first foray into quantitative tightening from 2017 fizzled. Can asset-selling – aka money destroying – help fight inflation this time around?
With bond rates and Reserve Bank actions driving equity markets and inflationary expectations, it pays to understand what is really happening in both central bank and commercial bank balance sheets.
It's tempting to focus on the negatives of the pandemic, the US election, the China/US cold war and inequality. But technology is delivering benefits that even wealthy people in the past could not have imagined.
Quantum computers have a theoretical ability to calculate millions of possibilities in seconds, yet it may take time before we see a breakthrough in the practical applications of sub-atomic computing.
Prolonging a recovery with stimulus could lead to a worse slump later. Even today, policymakers are haunted by actions taken in 1937 which led to a loss of production and jobs and a falling GDP.
The RBA is likely to first exhaust conventional easing by cutting the cash rate to 0.5% by year end before deploying unconventional measures. Negative interest rates are unlikely.
Most investors think the relationship between interest rates and prices only applies to fixed rate bonds, but the rate impact on discounting future cash flows applies to all income-producing assets.
It's not long ago when Australian bond rates were well above US bond rates, and now they are the same in the 10 years. Factors affecting Australian monetary policy will not mirror US rises through 2018.
Labor has announced a $2.3 billion Cheaper Home Batteries Program, aimed at slashing the cost of home batteries. The goal is to turbocharge battery uptake, though practical difficulties may prevent that happening.
The famed investor says the rapid switch from globalisation to trade wars is the biggest upheaval in the investing environment since World War Two. And a new world requires a different investment approach.
The boss of Australia’s fourth largest super fund by assets, UniSuper’s John Pearce, says Trump has declared an economic war and he’ll be reducing his US stock exposure over time. Should you follow suit?
Every crisis throws up opportunities. Here are ideas to capitalise on this one, including ‘overbalancing’ your portfolio in stocks, buying heavily discounted LICs, and cherry picking bombed out sectors like oil and gas.
While many chase high yields, true investment power lies in companies that steadily grow dividends. This strategy, rooted in patience and discipline, quietly compounds wealth and anchors investors through market turbulence.
Behind market volatility and tariff threats lies a deeper strategy. Trump’s real goal isn’t trade reform but managing America's massive debts, preserving bond market confidence, and preparing for potential QE.