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19 July 2025
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As the July school holiday break nears, here are some investment classics to put onto your reading list. The books offer lessons in investment strategy, financial disasters, and mergers and acquisitions.
While encouraging people to draw down on their accumulated wealth in retirement might be good public policy, several million retirees disagree because they are purposefully conserving that capital. It’s time for a different approach.
Given the amount of money in super, it’s not surprising that there is a lot of focus on risk. SMSFs are often portrayed as the riskier option for the community as a whole, but does that tell the full story?
MFS chief investment officer and CEO elect Ted Maloney talks market risks, similarities between Trump and Harris, and the most important thing investors can do to avoid destroying value.
Did anyone tell the Treasurer that if he had replaced the $5 note with a $5 coin, he could have saved $1 billion? The Government makes a profit from minting coins but we still need to decide whose face we want.
Over the next 20 years we will have more post-retirement members with more superannuation savings than ever before. This change in demographics means it is time to engage with more people about their retirement.
Portfolio construction requires actions, not just words, based on expected returns, volatility and correlations. We have not seen sufficient pain to believe we are at the bottom of the equity cycle.
It makes sense to have long-term savings directed to financing long-term investments and short-term savings (which involve liquidity risk for the institutions accepting them) invested in shorter term investments.
With term deposits offering tiny returns, investors are looking for reliable sources of income and capital stability. Combining over 100 loans into a fund provides more diversification than buying a single corporate bond.
Risk isn’t something to be avoided altogether. To achieve returns beyond the government bond rate, some level of risk must be accepted. Assessing which risks to take and calibrating them is the investor's challenge.
In retirement, we still want to reduce stock volatility while generating cash flows. The two needs have not changed, but the reward expected in the old days from interest payments has gone. What should we do?
Everything is rising in value because there is excess capital chasing too few opportunities. Capital should be allocated more responsibly with a focus on the future cash flow from a company.
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.