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17 July 2025
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What is the X-factor - the largely unexpected influence that wasn’t thought about when the year began but came from left field to have powerful effects on investment returns - for 2024? It's time to select the winner.
Markets are partying like it's 1999, but history suggests that US earnings and economic growth are vulnerable following an interest rate tightening cycle. Investors should prepare their portfolios accordingly.
Key takeaways from this year include economic outlooks have limited usefulness in positioning portfolios, and there’s a difference between falling prices and cheap assets, and that difference matters a great deal.
What is the X-factor - the largely unexpected influence that wasn’t thought about when the year began but came from left field to have powerful effects on investment returns - for 2023? It's time to select the winner.
Brandywine Global's Richard Rauch warns of US and global recession risks, Vanguard's Duncan Burns on building a simple, effective investment portfolio, and Peter Warnes on the Australian market outlook for 2024.
It's impossible to predict when the next recession will happen. That said, looking at which types of investments have historically fared best during economic downturns can help you limit some of the damage.
Global equity markets face serious challenges, including expensive equity valuations, sticky inflation, high interest rates, and huge debt levels in most major economies. Recession seems probable, as does low equity returns.
Trillions need to be spent upgrading grids, transmission distribution and charging infrastructure. Electric utilities are a low-risk way to play this multi-decade growth theme to energy transition.
Macroeconomic indicators suggest that the US is in the last stage of the economic cycle with a recession likely by the end of 2023. There are five assets that can help insulate your portfolio if a downturn takes place.
The concentrated nature of 2023’s equities gains – driven by a handful of mega-cap technology and internet companies – hides signs of increasing vulnerability within markets. It's time to get defensive and buy quality stocks.
The 60/40 portfolio has performed poorly during the recent period of high inflation. With peak inflation likely behind us, here's a stock-take on the year so far and what it might imply for portfolios going forward.
Current stock market enthusiasm calls for caution, with rates now in restrictive territory and several indicators portending trouble ahead. There are some opportunities in areas that haven't been caught up in the market hype.
Treasurer Jim Chalmers aims to tackle tax reform but faces challenges. Previous reviews struggled due to political sensitivities, highlighting the need for comprehensive and politically feasible change.
You've no doubt heard about Division 296. These case studies show what people at various levels above the $3 million threshold might need to pay the ATO, with examples ranging from under $500 to more than $35,000.
The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.
Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.
With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains.
In selling the super tax, Labor has repeated Treasury claims of there being $50 billion in super tax concessions annually, mostly flowing to high-income earners. This figure is vastly overstated.