Register to receive our free weekly newsletter including editorials.
3 July 2024
Recently trending
Reader: "I can quickly sort the items that I am interested in, then research them more fully. It is also a regular reminder that I need to do this."
Ian Kelly, CFP, BTACS Financial Services: "Probably the best source of commentary and information I have seen over the past 20 years."
John Pearce, Chief Investment Officer, Unisuper: "Out of the (many many) investmentrelated emails I get, Cuffelinks is one that I always open."
Steve: "The best that comes into our world each week. This is the only one that is never, ever canned before fully being reviewed by yours truly."
Reader: "The BEST in the game because of diversity and not aligned to financial products. Stands above all the noise."
Reader: "Love it, just keep doing what you are doing. It is the right length too, any longer and it might become a bit overwhelming."
Reader: "Best innovation I have seen whilst an investor for 25 years. The writers are brilliant. A great publication which I look forward to."
Reader: "Is one of very few places an investor can go and not have product rammed down their throat. Love your work!"
Reader: "I subscribe to two newsletters. This is my first read of the week. Thank you. Excellent and please keep up the good work!"
Reader: "Congratulations on a great focussed news source. Australia has a dearth of good quality unbiased financial and wealth management news."
Reader: " Finding a truly independent and interesting read has been magical for me. Please keep it up and don't change!"
Noel Whittaker, author and financial adviser: "A fabulous weekly newsletter that is packed full of independent financial advice."
Reader: "Carry on as you are - well done. The average investor/SMSF trustee needs all the help they can get."
Ian Silk, CEO, AustralianSuper: "It has become part of my required reading: quality thinking, and (mercifully) to the point."
Reader: "Keep it up - the independence is refreshing and is demonstrated by the variety of well credentialed commentators."
Rob Henshaw: "When I open my computer each day it's the first link I click - a really great read."
John Egan, Egan Associates: "My heartiest congratulations. Your panel of contributors is very impressive and keep your readers fully informed."
Eleanor Dartnall, AFA Adviser of the Year, 2014: "Our clients love your newsletter. Your articles are avidly read by advisers and they learn a great deal."
Scott Pape, author of The Barefoot Investor: "I'm an avid reader of Cuffelinks. Thanks for the wonderful resource you have here, it really is first class."
David Goldschmidt, Chartered Accountant: "I find this a really excellent newsletter. The best I get. Keep up the good work!"
Professor Robert Deutsch: "This has got to be the best set of articles on economic and financial matters. Always something worthwhile reading in Firstlinks. Thankyou"
Reader: "Great resource. Cuffelinks is STILL the one and only weekly newsletter I regularly read."
Andrew Buchan, Partner, HLB Mann Judd: "I have told you a thousand times it's the best newsletter."
Australian Investors Association: "Australia's foremost independent financial newsletter for professionals and self-directed investors."
Don Stammer, leading Australian economist: "Congratulations to all associated. It deserves the good following it has."
Reader: "An island of professionalism in an ocean of shallow self-interest. Well done!"
Reader: "It's excellent so please don't pollute the content with boring mainstream financial 'waffle' and adverts for stuff we don't want!"
Jonathan Hoyle, CEO, Stanford Brown: "A fabulous publication. The only must-read weekly publication for the Australian wealth management industry."
The best way to lose money in markets is to chase the latest stock fad. Conversely, the best way to build wealth is by pursuing a timeless investment strategy that won’t be swayed by short-term market gyrations.
For exclusive articles and research papers from our Sponsors, click here.
Australian consumers have held up remarkably well amid rising interest rates and inflation. Yet, there are increasing signs that this is turning, and the weakness in consumer spending may last years, not months.
The nine lessons include there is always a cycle, the crowd gets it wrong at extremes, what you pay for an investment matters a lot, markets don’t learn, and you need to know yourself to be a good investor.
It's that time of year when investors sell underperforming stocks at a loss to offset capital gains from profitable investments. This tax-loss selling is creating opportunities in three quality ASX stocks.
Across the globe, leaders are concerned about the fallout from declining birth rates and shrinking populations. Australia, though attractive to migrants, mirrors global birth rate declines, and faces its own challenges.
Australians are paying almost two billion dollars in credit and debit card fees each year and the RBA wil now probe the whole payment system. What changes are needed to ensure the system is fair and transparent?
Many Australians neglect key retirement planning tools. Investment bonds are increasingly valuable as they facilitate intergenerational wealth transfer and offer strategic tax advantages, thereby enhancing financial security.
Welcome to Firstlinks Edition 566 with weekend update 17
Here are 10 rules for staying happy and sharp as we age, including socialise a lot, never retire, learn a demanding skill, practice gratitude, play video games (specific ones), and be sure to reminisce.Read More.
A new report from Vanguard has found an increasing number of Australians expect to be paying off a mortgage in retirement, or forced to rent. A financially secure retirement is no longer considered a given.
Warren Buffett is widely regarded as the most successful investor ever. Rather than keep his secret sauce hidden, he's shared his knowledge for decades, so why aren't more investors able to replicate his methods and success?
Retirement can last more than 30 years, necessitating thoughtful planning. Many miss workplace friendships, identity, status, expertise, and routine, but these can be replaced with renewed activities and purpose.
There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue.
The life expectancy tables used throughout the financial advice and retirement industry have issues and you need to prepare for the possibility of living a lot longer than you might have thought. Plan accordingly.
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.
China's support for Russia's invasion of Ukraine has deepened their strategic partnership, challenging the West and reshaping global power dynamics, despite their complex historical relationship and differing long-term interests.
Peter Dutton has made housing a key issue for the next election, pledging to “restore the Australian dream” of home ownership. It got me thinking about what this dream represents, how it originated, and whether it’s still relevant today.
Shoppers are cutting back spending at supermarkets, gyms, and bakeries to cope with soaring insurance and education costs as household spending continues to slump. Renters especially are feeling the pinch.
Despite being richer, surveyed measures of happiness have been flat to falling in Australia. Some suggest we should focus less on GDP and more on broader measures of wellbeing, though there are pros and cons to that approach.
Market consensus is that the US Federal Reserve will cut interest rates well ahead of the RBA. The latest data has cast doubt on this, raising the prospect of an earlier RBA cut to prop up a faltering economy.
The Chinese economic model needs an overhaul and a currency devaluation is one way for the country to restructure. If a devaluation happens, it will have significant ramifications for Australia and the world.
A new report suggests Australian housing is twice as expensive as that of the US and UK on a price-to-income basis. It also reveals that it’s cheaper to live in New York than most of our capital cities.
The discounts on listed investment vehicles are at historically wide levels. There are lots of reasons given, including size and liquidity, yet there's a better explanation for the discounts, and why a rebound may be near.
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.
As inflation is likely to remain stubbornly elevated, the correlation between bonds and equities could remain high, reducing diversification within portfolios. A gold allocation may help to better protect your investments.
There's been a surge of interest in overseas equities as the Australian market lags. This explores various approaches to determine the best allocation of international equities within a long-term investment portfolio.
Washington H. Soul Pattinson is an ASX top 50 stock with one of the best investment track records this country has seen. Yet, most Australians haven’t heard of it, and the company seems to prefer it that way.
'Putting your affairs in order' is a term that is commonly used when people are approaching the end of their life. It is not as easy as it sounds, though it should not overwhelming, or consume all of your spare time.
By 2028, all Baby Boomers will be eligible for retirement and the Baby Boomer bubble will have all but deflated. Where will this generation's money end up, and what are the implications for the wealth management industry?
A new report suggests that Australians are ill prepared for the largest intergenerational wealth handover in history. It's estimated $3.5 trillion in assets will be transferred from Baby Boomers to their children by 2050.
In less than five years, all Baby Boomers will be eligible for retirement and the Baby Boomer bubble will have all but deflated. What happens next, and what are the implications for the wealth management industry?
There are a lot of vague statements about the costs of financial advice in Australia. This insider's knowledge shows the actual costs are skyrocketing but demand for financial advice remains strong.
Should you give your children their inheritance before you die? It's a thorny question asked more often as Baby Boomers in Australia grow older and die richer. Do they leave larger bequests or help buy the kids a home?
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.
Traditionally, equity income funds buy high-dividend companies but earnings growth should be a key component of an investment strategy. Receiving income from selling call options compensates for the lower dividends.
Harry Markowitz died last week at the age of 95. He was the 1990 Nobel Laureate and the father of Modern Portfolio Theory. He explained to me the magic moment when he realised how risk-return in portfolios works.
Following rock star fund managers and trying to emulate their success is likely to end badly for most investors. It’s better to shoot for above average or even average results to achieve your investment goals.
The needs and wants of younger generations are transforming businesses, markets, and the broader financial industry. Without understanding them and how they’ll evolve, older investors risk being left behind.
Women will be the biggest beneficiaries of Australia’s $3.5 trillion intergenerational wealth transfer. How they invest will shape markets and the wealth management industry in the coming decade.
Is size becoming a bigger problem for Big Super? Super funds tout diversification and higher returns for increasing forays into private and overseas assets, but it’s more likely a forced move due to them having outgrown local markets.
A new report shows SMSFs are thriving, and trustees have significantly higher confidence about retirement than most Australians. It also reveals SMSFs' use of financial advisers has reached all-time lows.
The Albanese Government delivered its third Budget on Tuesday, and we break down the key numbers, policies, and economic forecasts, as well as draw some conclusions, including for superannuants and retirees.
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?
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.
Key takeaways from this year include economic outlooks have limited usefulness in positioning portfolios, and there’s a difference between falling prices and cheap assets, and that difference matters a great deal.
UniSuper and AustralianSuper are large, complex investment businesses, and it's worth taking a look under the hood before making an investment decision. This looks at the growing trend of bringing investment management in-house.
Paul John Keating is a former Australian politician who served as the 24th Prime Minister of Australia, in office from 1991 to 1996 as leader of the Labor Party.
Phil Ruthven is the founder and director of IBISWorld, Australia's best-known business information, forecasting and strategic services corporation
2024/25 Facts and Figures document for SMSF trustees and advisers now available.
2024 Central Bank Gold Reserves Survey.
Affiliates recognised at the 2024 Money Management Awards.
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.
People love new things, and investors are no different. But there's something to be said for older businesses that have a proven formula for success, and here are nine ASX-listed stocks that fit the bill.
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.
Returns from the major banks haven't been great over the past ten years, though that could change with higher rates, less competition and cost savings opportunities. Some banks look better value than others.