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19 September 2025
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Global defence spending has inflected higher, bringing huge opportunity to a group of companies that have already outperformed broader market indices over the long-term.
Investors often express their views on markets by tilting their portfolios towards certain sectors, in the hope of generating excess returns. Factor investing is a more sophisticated tool that can help to achieve better results.
Every economic cycle has its distinct characteristics where different sectors take up leadership. US tech has led markets higher since 2014, yet that looks stretched now, and other sectors like energy are set to outperform.
Dividend paying stocks play an important role in income portfolios. But they can also run the risk of being too narrowly focused, which can limit both income potential and upside participation when equity markets rise.
In the last decade, ETFs have become a mainstay of many portfolios, with broad market access to most asset types, as well as a wide array of sectors and themes. Is there a favourite of a CEO who oversees 30 funds?
Best-in-class or ‘pure-play’ companies concentrate on one business really well, while companies with diverse operations lead to inefficient capital allocation and underinvest in the best opportunities.
Powerful structural themes such as technology disruption and demographic changes may disguise what is driving company success. Watch these broad categories as they may not apply in ways you expect.
It's time for equity prices to more closely tie to a company’s underlying near-term earnings trajectory and financial strength. Despite the market trading at record levels, some stocks have been left behind.
Compared with most years in the last decade, FY20 performed poorly due to the virus, and now dividends are falling. There are three things to watch this year as support policies are wound back.
With the market hitting a five-year high this week, it’s a good opportunity to pause and examine the performance of the 11 sectors that make up the ASX: what’s worked, what’s lagged and what’s just plodding along?
If you are not happy to own the entire business for a decade, you should not be comfortable owners of even one share for just a few minutes. Time is the friend of the extraordinary business but the enemy of the poor business.
Australia could unlock smarter investment and greater equity by reforming housing tax concessions. Rethinking exemptions on the family home could benefit most Australians, especially renters and owners of modest homes.
The creator of the 4% rule for retirement withdrawals, Bill Bengen, has written a new book outlining fresh strategies to outlive your money, including holding fewer stocks in early retirement before increasing allocations.
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.
Are franking credits factored into share prices? The data suggests they're probably not, and there are certain types of stocks that offer higher franking credits as well as the prospect for higher returns.
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.