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16 July 2026
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The rapid change in long-term bond yields, particularly over the past 12 months, has been the primary cause of the decline in the market value of our portfolios, and has represented the worst macro environment for long-duration assets, in a very long time.Despite recent declines in our portfolios, the underlying fundamentals have not deteriorated, with our companies' competitive positions and long-term earnings growth profiles remaining strong. Short-term fears about recession, temporary increases in bond yields and inflation are 'noise' and should not be our focus. Instead, focus should be on long-term valuations representing 'signal'.
A cyclical recession over the next year is unlikely to impact our portfolios' long-term forecast EPS and valuations due to our high levels of innovation and low penetration rates. In a world where growth will again become scarce, businesses that grow by taking market share will be in a strong position to produce attractive returns over the long term. The current selloff is providing an opportunity for long-term investors to get exposure to some of the best businesses in the world at attractive prices.Short-term factors are mere 'noise' rather than fundamental long-term 'signals'.You can find further thought pieces from Hyperion on our website here.
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Proposed Budget changes to taxation are casting new uncertainty over testamentary trusts, prompting closer scrutiny of estate planning structures and the real implications of reforms still taking shape.
Beneath the dominance of the ASX's largest stocks, much of the market has been left behind. High-quality companies are now trading at levels rarely seen, offering opportunities for investors willing to look deeper.
New CGT rules could tip the scales in the super vs non-super debate. For those facing the Division 296 tax, the case for withdrawing has gotten more complex. A "comparison rate" tool may help assess decisions.
The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.
The downfall of the giant and three lessons for investors.
The defining challenge of retirement isn't just about building wealth, it's about converting your lifetime savings into sustainable income. A holistic understanding of different strategies can improve long-term outcomes.
Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning.
Lithium's latest sell-off has punished ASX miners as prices remain hostage to shifting expectations. The key challenge is navigating a market prone to extreme volatility despite a strong case for the long-term demand outlook.
The implications of CGT reform are far and wide. As the 50% discount gives way to inflation indexation, turnover and return profiles may become critical drivers of after-tax performance. Some strategies face a far greater hit.
Our retirement system was built around assumptions that no longer hold. Lower homeownership, longer lifespans and changing expectations are exposing cracks that policymakers and super funds need to address.
Many people spend years planning financially for retirement but little time preparing for what comes next. Four months in, here are the surprising lessons i've learnt on finding purpose, social connection and healthy habits.
As tax reforms reshape investment incentives, investors should rethink what quality investing means in the uniquely concentrated Australian market, where traditional frameworks may not translate as effectively.
Why are tech giants pouring billions into datacentres when the economics look questionable? The most dangerous words in investing may be: "everyone else is doing it". Today's AI boom has striking parallels with the shale bust.