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28 February 2026
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With ASX dividend yields now below government bond yields, investors face an upside-down market where income is scarce, growth is muted, and careful selection of bond-like stocks has never mattered more.
Lump sum investing usually wins, but it can hurt if markets fall. Using 50 years of Australian data, we reveal when staging your entry protects you, and when it drags on returns.
ASX market bulls point to corporate balance sheets and earnings, while bears highlight company valuations and persistently higher inflation. It's best to ignore short-term noise and focus on investing in quality companies.
Recently, we have seen the performance of indices such as the MSCI World and the S&P 500 being driven primarily by a handful of mega-cap US names. What are the implications of this and does it really matter?
The rise of passive investing is unlikely to derail the value of quantitative strategies. Passive investing hasn’t eradicated the irrationality of crowds, leaving pockets of opportunity to outperform indices.
Markets have rallied hard of late. In his latest investment update, UniSuper CIO John Pearce looks at what’s behind the recent strength, whether it's justified, and the risks for the market going forwards.
Typically, higher interest rates are associated with lower share market valuations, but not always and the relationship hasn’t been that strong over the long term. Company fundamentals will matter more over the next few years.
Like in the 1970s, today's investors face challenges of inflation, cold war, and fraying global trade ties - but unlike then, there's now high debt and environmental problems. Here's how to best navigate the difficult backdrop.
We are in a new thesis and a regime change. Central banks previously supported asset prices but now the focus is on beating inflation. Investors need new strategies to adapt to the different conditions ahead.
The lessons from 22 years in the market include the lower volatility of industrial shares, how a short book differs from a long, the best leading indicators of change, plus stocks to withstand tougher times.
A check on price chart action for dozens of favourite tech stocks shows how dramatic the rises and falls have been. Where to from here? There's better value but profits need to remain strong or prices will fall.
During this heightened uncertainty, Value stocks have performed relatively well, coinciding with higher inflation. Expensive Growth stocks, hit by slowing growth and materials shortages, have sold off. Where to now?
The renowned investor says 2025’s real story wasn’t AI or US stocks but the shift away from American assets and a collapse in the value of money. And he outlines how to best position portfolios for what’s ahead.
The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.
Our cost-of-living pressures go beyond the RBA: surging house prices, excessive migration, and expanding government programs, including the NDIS, are fuelling inflation, demanding bold, structural solutions.
The capital gains tax discount is under review, but debate should go beyond its size. Its original purpose, design flaws and distortions suggest Australia could adopt a better, more targeted approach.
A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.
This is my last edition as Editor of Firstlinks. I’m moving onto a new role though the newsletter will remain in good hands until my permanent replacement is found.