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21 November 2024
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It’s with heavy hearts that we announce Firstlinks’ co-founder and former Managing Editor, Graham Hand, has died aged 66. Graham was a legendary figure in the finance industry and here are three tributes to him.
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The Big Four banks have had an extraordinary run and it’s left income investors with a conundrum: to stick with them even though they now offer relatively low dividend yields and limited growth prospects or to look elsewhere.
A triple headwind has seen Australia's biggest LIC swing to a 10% discount and scuppered its relative performance. Management was bullish in an interview with Firstlinks, but is the discount ever likely to close?
Most Australians don’t realise they are being charged up to six different types of fees on their superannuation. These fees can be opaque and hard to compare across different funds and investment options.
Economic growth in Australia looks to have bottomed, which means it makes sense to selectively add to cyclical exposures on the ASX in addition to key thematics like decarbonisation and technological change.
Understanding the property cycle can be a useful tool to make informed decisions and stay focused on long-term goals. This looks at where we are in the commercial property cycle and the potential opportunities for investors.
The concept of an 'equity risk premium' has driven asset allocation decisions for decades. A revamped study suggests it was a relatively short-lived phenomenon rather than the mainstay many thought.
Welcome to Firstlinks Edition 587 2
As we collectively mourn the loss of Graham Hand, many of his friends, colleagues, and readers of Firstlinks have expressed a desire to make a donation in his honour. His family has established The Graham Hand Gift.Read More.
A new survey suggests that most people aged 50 or over don't intend to stop work completely when they reach retirement age. And a significant proportion of those who delay retirement do so for non-financial reasons.
As the S&P 500 rips to new highs, the US now accounts for a staggering two-thirds of the world equity index. This looks at how America came to dwarf other markets, and what could change to slow or halt its momentum.
Berkshire Hathaway’s third quarter earnings update reveals Buffett is selling stocks and building record cash reserves. Here’s a look at his track record in calling market tops and whether you should follow his lead and dial down risk.
Australians are taking more mortgage debt into their 60s than ever before. Retirement planning assumptions haven’t adapted and could result in future income projections that ultimately disappoint retirees.
The magnitude and duration of society's most important trends are often underestimated. While these trends are usually touted as a tailwind, one in particular could have dark consequences for many assets.
Risk in portfolios has dramatically increased as time horizons have shortened and investors have piled into equities. It's resulted in a growing disconnect between what investors need and what the financial industry is delivering.
The more the US needs capital and funding, the higher its currency goes. For Australia, this has become a significant problem as the US draws our capital to sustain its growth, putting pressure on our economy and the Aussie dollar.
The return of Donald Trump to the US presidency brings the prospect of more US tax cuts and deregulation, but also more tariff hikes, trade wars and policy uncertainty. Here's what it means for markets going forward.
Australia's bloated government sector is every bit as responsible for our economic worries as the cost of living crisis. Grand schemes like the 'Future Made in Australia' only look set to make it worse.
British colonisation's Common Law system contributed to economic prosperity, in contrast to Latin America's lower wealth under Civil Law. It influenced capitalism's success in former British colonies, like Australia.
The expansion of the 'care sector' represents the most profound structural change to Australia's job market since the mining boom. This analyses how it's come about and the impact it will have on the economy.
The 2024 Nobel Prize in Economics has been awarded to three US-based economists who examined the advantages of democracy and the rule of law, and why they are strong in some countries and not others.
Housing affordability is shaping up as a major topic as we head toward the next federal election. The Coalition's proposal to allow home buyers to dip into their superannuation has merit, though misses one key feature.
Despite a recent pullback, gold has been one of the best performing assets this year. What are the key factors behind the rise and what's needed for the bull market in the yellow metal to continue?
If history is a guide, US equities looks set for subdued performance over the next few years. Things look better for Australian shares but there is an important caveat.
Australia needs to build new homes like never before but construction firms keep going belly up. Unless regulators act now, consumers will continue to carry the can.
Equity indices have evolved over time, led by step-changes in our ability to manipulate data. Despite the rise of passive investing, they weren't initially meant to be investment tools.
Just because a stock is cheap doesn't necessarily make it good value. This uses case studies in the tech sector to help identify when stocks trading on 30x earnings may be inexpensive and when others on 10x may be value traps.
Australia is in the early throes of an intergenerational wealth transfer worth an estimated $3.5 trillion. Here's a case study highlighting some of the challenges with transferring wealth between generations.
As we get older, many of us start to think about how we’ll be remembered by those left behind. This looks at why that may not be the best strategy to ensure that you live life well and leave loved ones in good stead.
Most of us don't want to think about death. But there is a compelling reason why we do need to plan ahead, and that's because leaving our loved ones with a mess - financial or otherwise - is not how we want them to remember us.
There are well over 800,000 family trusts in Australia, controlling more than $3 trillion of assets. Here's a guide on whether a family trust may have a place in your individual investment strategy.
We’ve seen how the transfer of wealth can work well, with inherited wealth helping families grow and thrive for generations, as well as how things can go horribly wrong. Here are tips on how to get it right.
Life expectancy statistics are often interpreted as the likely maximum age of a person, but that's not right. The odds favor people outliving life expectancy estimates - an important consideration for financial planning.
MFS chief investment officer and CEO elect Ted Maloney talks market risks, similarities between Trump and Harris, and the most important thing investors can do to avoid destroying value.
In a recent interview, Morningstar CEO Kunal Kapoor explains why low-cost investing wins, how artificial intelligence and ESG will bring lots of opportunities, and why distractions are an investor's worst enemy.
The distortions in our tax system have been ignored for too long, and we're now paying the price. It's time Australia got real and addressed the problems to prevent an even greater intergenerational tragedy.
We interviewed Sir Michael Hintze while his credit-focused hedge fund CQS was at the height of its powers. Since then, he's changed the firm's investment strategy and found a buyer in Canadian giant, Manulife.
The dream of many investors is to be able to live off the dividend income from their shares. There is a relatively simple way to do this though it requires a mental fortitude that may not be for everyone.
New research shows active funds in Australia perform well against comparable passive funds. Yet, it also reveals managed funds with lower fees tend to do better than those with more expensive ones.
New research reveals undiagnosed cognitive decline can cost retirees tens of thousands of dollars through bad investments or financial scams. It’s crucial to put legal and financial safeguards in place to protect your wealth.
A new report shows Australian fund managers performed better in the first half of the year, with most outperforming indices in local equities, small and mid-caps, and bonds. Their results are less impressive over longer periods.
Investing guru Howard Marks says he had two epiphanies while visiting Australia recently: the two major asset classes aren’t what you think they are, and one key decision matters above all else when building portfolios.
Heart disease has been the leading cause of death for Australians since the 1960s but new data suggests that it’s about to be overtaken by dementia, where deaths are rising thanks to our ageing population.
A recent industry event made me realise that a 30 year old investing trend could still have serious legs. Could it eventually pose a threat to two of Australia's biggest companies?
The structure of many dividend ETFs leads to lacklustre or non-existent dividend growth. Balancing high yields with long-term dividend growth is essential for effective income investing.
One of Buffett's most successful investments has been a confectionery company that he bought more than 50 years ago. The investment demonstrates that stocks need not be growth companies to create fortunes.
Shani Jayamanne takes a deliberately uninterested approach to investing. She outlines the technical and circumstantial reasons for why she goes against the grain and focuses on the real drivers of investment success.
Why do people have trouble shifting from a saving to spending mindset in retirement? Researchers have plenty of theories though can't identify an exact cause, nevertheless there are things that can enable the shift.
For those with the patience to own an investment as volatile as the AI sector, buying and holding a stock basket might make sense. However, based on internet stocks’ history, you need not rush to do so.
With the Treasury Department's review of superannuation in retirement, decumulation is firmly on the agenda, yet advisors have been grappling with this issue for years. So, what could super funds learn from advisers?
New Perspective strategy now available on CFS FirstChoice.
appoints Asia-Pacific Managing Director to its Global Financial Institutions team.
Meg Heffron one of three new Board directors appointed by SMSF Association.
As we start 2024, the 12th year of publishing Firstlinks, we have gone back over 540 editions and about 1,000 articles by me to find some of our most popular and standout articles. Enjoy a look back!
Australians don't need dodgy schemes in Caribbean islands to hide their wealth. There are plenty of legal ways to avoid paying tax but they will leave personal income tax carrying a heavy burden for future generations.
While the ATO has many ways to watch taxpayer transactions and ensure tax is collected, for some unknown reason, it is legal to select from four different cost base treatments for capital gains tax. It's costing billions.
Stocks always outperform bonds in the long-term, right? New research challenges that assumption, raising questions about historical financial data, and forecasts for future performance from the two largest asset classes.