I’m pleased to announce that Simonelle Mody will be taking over as the new Firstlinks’ editor.
Throughout the process of finding a new editor I’ve been thinking a lot about Graham and James. I wanted to find an editor who respected what they built and who was bold enough to ensure that Firstlinks continues to support the evolving needs of investors in Australia.
I’ve been working closely with Simonelle over the past several years and after a wide-ranging search for a new editor it was clear that she is the right person to take charge of Firstlinks.
I’m a big fan of Simonelle and over time I’m confident the Firstlinks community will feel the same way.
I wanted to thank everyone for their support over the last six months during my temporary stewardship of this publication. As always, I can be reached at [email protected] and will continue to try and do my part to help people build a better future at Morningstar. I’m looking forward to seeing where Simonelle will take Firstlinks.
Mark LaMonica
Simonelle Mody:
I’d like to begin by saying that I am incredibly excited to step into this role.
Many of you have been with this publication since the days of thoughtful stewardship under Graham Hand and Chris Cuffe, James Gruber and more recently, Mark LaMonica. I take seriously the responsibility of carrying that legacy forward. I’m deeply aware that I’m joining a community with a long memory, strong views, and a shared commitment to understanding the forces that shape our financial lives.
A little about me
I’ve worked at Morningstar for almost two years now, and while I’m younger than the typical Firstlinks reader, I’ve always thought that good investing and good thinking are ageless. What I love most about this work is the chance to explore the intersection of investing and human behaviour.
Over two decades ago, my parents came to Australia with the same hopes many of you likely have for your own families. The idea that if you work hard, play fair and contribute to your community, this country gives you a fighting chance to build a good life. And indeed, it has.
Australia has given us stability, opportunity and the kind of environment where effort translates into progress. I’m acutely aware that very few countries work this way. This indebtedness and gratitude informs everything I do. And it is why I care so deeply about the long-term decisions we make as a nation, especially the ones that affect our economic resilience and the opportunities available to future generations.
We’re living in a time when public debate is increasingly polarised. Politics touches everything from superannuation settings to tax policy to global markets. In stepping into this role, I want to acknowledge something many of you have been thinking about – the Federal Budget.
I tend to look at Budgets with a mix of curiosity and healthy scepticism. While governments of all stripes like to frame their decisions as win-wins, investors know better than most that every choice has an opportunity cost. I think what matters is that we discuss these issues with a focus on long-term implications, rather than give in to the allure of shock value headlines. That is something this community has always valued, and it’s a perspective I share.
The direction of Firstlinks
My aim is to keep this a place where ideas are examined on their merit. A quote I often return to is “Strong opinions, loosely held.” Most of us form views based on experience, instinct and the patterns we’ve seen over time. But I believe the real strength is a willingness to update those views when the facts change. I’d like to think many readers already live by this principle. You’ve seen enough cycles to know that certainty is merely an illusion, that markets punish dogma, and good decisions come from testing ideas rather than defending them at all costs.
Firstlinks has always been a forum for thoughtful and intelligent discussion and that won’t change. You’ll see a mix of familiar contributors and perhaps some new voices, but the principles remain the same. I look forward to learning from readers, hearing your perspectives and continuing the conversation that makes Firstlinks what it is.
Also in this week's edition...
Sebastian Mullins from Schroders shares why the new market regime means investors should choose their hedges wisely and often.
Income is re-emerging as a dominant driver of returns as the Australian credit landscape shifts. Phil Strano from Yarra Capital Management discusses yields taking centre stage again.
It's been a rough time for Aussie equities relative to global peers. Jamie Wickham explores whether investors need to rethink their international equity allocations.
Bubble talk is rampant following the eye-watering launch of SpaceX, but Damien Klassen believes investors may be focusing on the wrong thing.
Isaac Gross models why raising the GST to combat inflation can lead to a sharp turn in the wrong direction.
Tyger Fitzpatrick looks at why most Australians will end up owning SpaceX whether they like it or not.
Following several budget backdowns, Lauchlan Mackinnon examines whether the government is being honest about its business CGT changes.
This week's white paper is from Neuberger on the growth of asset-based finance as an income investment.
Curated by Simonelle Mody and Leisa Bell
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