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8 October 2025
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Capitalisation rates, commonly known as ‘cap rates’, are a fundamental metric in Australian property investing. However, this seemingly simple and ubiquitous measure can be far more complex to use when comparing different types of properties.
As the world shifts away from one of artificially suppressed interest rates and cheap manufacturing, investors will need to carefully consider how companies are positioned to navigate the new higher-cost paradigm.
The ASX 200 is around the same price that it was 16 years ago. The poor long-term performance can be largely blamed on our taxation system, which encourages companies to pay out most of their earnings as dividends.
The power to control the creation of money has moved from central banks to western governments by the issuing of state guarantees on bank credit. What are the implications for investing and inflation?
Private equity is attracting ever larger allocations from institutional investors. Russel Pillemer makes a case that all investors should consider the asset class.
The market rewards companies it thinks allocate capital well and similarly punishes those who don’t. It tries to anticipate the future and thus the changes in future returns on capital before they happen.
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.