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18 June 2026
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Last week, I interviewed Hamish Douglass about investing and positions in his portfolio. He was articulate, confident and relaxed, but a few days later, the Board of Magellan announced he was taking medical leave.
Australian Ethical explains its first move into active ETFs, Murray's best investments and one he'd prefer to forget, a stock he will hold for 10 years, and why they hold supermarkets that sell tobacco and alcohol.
Risk tolerance is highly personal, and is only truly tested when markets are under stress. Even the popular theory of loss aversion is now challenged, so you need to find the balance between risk and sleep.
Borrowers can relax for a while longer as Reserve Bank Governor Philip Lowe signals he will wait for firm evidence of inflation and wage rises before raising cash rates, but the market is way ahead of him.
ETFs gain the headlines as issuers are skilled at promoting their growth and new funds. Yet ETFs are tiny compared with managed funds, which advisers prefer on platforms. Which will be the long-term winner?
There are thousands of different indexes, and they are not all diversified and broadly-based. Watch for concentration risk in sectors and companies, and know the underlying assets in case liquidity is needed.
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.
Something unusual is happening in markets. The winners are pulling further ahead at an extraordinary pace. As return dispersion hits extreme levels, volatility is rising and the investing landscape is becoming harder to navigate.
Extreme wealth concentration is no longer just a side effect of growth. As inequality deepens, its consequences are shifting from a social concern to a broader threat to economic stability and democratic resilience.
AI exuberance is colliding with economic reality. Cracks are emerging as spending surges, ROI remains uncertain and enterprise behaviour shifts. The next phase may look less like an expansion and more like a reckoning.
The 2026 budget has reignited Australia’s tax reform debate, but more work remains. Beneath the surface lies a harder question: what structural reforms are needed to make the country's tax system fit for the future?
The Budget's negative gearing changes defer deductions rather than deny them, yet a worked example shows quarantining can halve the tax benefit's present value for buyers of established dwellings.
In just four years, Australia's private capital landscape has transformed. We are seeing changes across who deploys capital, how deals are structured and why new platforms and investor pathways are rapidly emerging.