Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 339

Interview Series eBook, investing insights from global experts

Extract of Graham Hand's introduction

During 2019, Firstlinks embarked on a series of interviews to learn more about the investment techniques of many of Australia's leading asset managers. Investors should know the people they trust their money with.

We realised these discussions were a rich store of knowledge, and we have compiled them into a free ebook.

But we also recognised some of the best interviews came as early as 2013 in meetings with global experts, some of the most famous people in wealth management.

So it’s fitting that we should start the Interview Series with Nobel Laureate, Harry Markowitz, who was born in 1927 and is now 92 years-of-age. Markowitz was only 22 when he realised that an efficient portfolio should maximise the expected return on assets for a given level of risk. Although a theoretical framework, his Modern Portfolio Theory has been taught to investors for almost 70 years. Like most of the best insights, it is a simple idea, focussing on risk and return trade-offs.

Markowitz told me he started in securities analysis by accident.

“I was a PhD candidate at the University of Chicago and had to choose a topic, so I went to see my supervisor, Professor Jacob Marschak. He was busy so I sat in this ante room, and another man was there who was a broker. He suggested a dissertation on the stock market. That's the best advice a broker has ever given me.”

In the 30 interviews in this ebook, we uncover many of the secrets that investment managers have taken decades to learn. We feature globally renowned experts such as Burton Malkiel, Sir Michael Hintze, Professor Elroy Dimson, Robert Kitces and Nobel Laureate Robert Merton, as well as high-profile local fund managers covering every asset class.

We can all benefit from this vast experience. As Markowitz said, paraphrasing Sir Isaac Newton, “I saw so far because I stood on the shoulders of giants.

 


Managing Editor Graham Hand with Harry Markowitz (left), Nobel Laureate and father of Modern Portfolio Theory, and Burton Malkiel (right), author of global bestseller, ‘A Random Walk Down Wall Street’ in San Diego, USA in 2013.

 

For all readers of Firstlinks, there's no catch, no hidden charges, no need to sign up. 

Click here to download the free Interview Series ebook

 

banner

Most viewed in recent weeks

Finding the best income-yielding assets

With fixed term deposit rates declining and bank hybrids being phased out, what are the best options for investors seeking income? This goes through the choices, and the opportunities and risks involved.

What history reveals about market corrections and crashes

The S&P 500's recent correction raises concerns about a bear market. History shows corrections are driven by high rates, unemployment, or global shocks, and that there's reason for optimism for nervous investors today. 

Howard Marks: the investing game has changed

The famed investor says the rapid switch from globalisation to trade wars is the biggest upheaval in the investing environment since World War Two. And a new world requires a different investment approach.

Welcome to Firstlinks Edition 605 with weekend update

Trump's tariffs and China's retaliatory strike have sent the Nasdaq into a bear market with the S&P 500 not far behind. What are the implications for the economy and markets, and what should investors do now? 

  • 3 April 2025

Designing a life, with money to spare

Are you living your life by default or by design? It strikes me that many people are doing the former and living according to others’ expectations of them, leading to poor choices including with their finances.

World's largest asset manager wants to revolutionise your portfolio

Larry Fink is one of the smartest people in the finance industry. In his latest shareholder letter, the Blackrock CEO outlines his quest to become the biggest player in private assets and upend investor portfolios.

Latest Updates

Investment strategies

An enlightened dividend path

While many chase high yields, true investment power lies in companies that steadily grow dividends. This strategy, rooted in patience and discipline, quietly compounds wealth and anchors investors through market turbulence.

Investment strategies

Don't let Trump derail your wealth creation plans

If you want to build wealth over the long-term, trying to guess the stock market's next move is generally a bad idea. In a month where this might be more tempting than ever, here is what you should focus on instead.

Economics

Pros and cons of Labor's home batteries scheme

Labor has announced a $2.3 billion Cheaper Home Batteries Program, aimed at slashing the cost of home batteries. The goal is to turbocharge battery uptake, though practical difficulties may prevent that happening.

Investment strategies

Will China's EV boom end in tears?

China's EV dominance is reshaping global auto markets - but with soaring tariffs, overcapacity, and rising scrutiny, the industry’s meteoric rise may face a turbulent road ahead. Can China maintain its lead - or will it stall?

Investment strategies

REITs: a haven in a Trumpian world?

Equity markets have been lashed by Trump's tariff policies, yet REITs have outperformed. Not only are they largely unaffected by tariffs, but they offer a unique combination of growth, sound fundamentals, and value.

Shares

Why Europe is back on the global investor map

European equities are surging ahead of the U.S this year, driven by strong earnings, undervaluation, and fiscal stimulus. With quality founder-led firms and a strengthening Euro, Europe may be the next global investment hotspot.

Chalmers' disingenuous budget claims

The Treasurer often touts a $207 billion improvement in Australia's financial position. A deeper look at the numbers reveals something less impressive, caused far more by commodity price surprises than policy.

Fixed interest

Duration: Friend or foe in a defensive allocation?

Duration is back. After years in the doghouse, shifting markets and higher yields are restoring its role as a reliable diversifier and income source - offering defensive strength in today’s uncertain environment.

Sponsors

Alliances

© 2025 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.