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22 July 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.
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.