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Edition: 145

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Edition 145

  • 4 March 2016

The closure of Dick Smith stores announced last week means there is no chance of shareholders recovering their investment. Roger Montgomery stood on the sidelines for most of the sorry saga, but he weighs in by explaining the role of disclosure and significant shortcomings in the way information is provided.

Dick Smith prospectus failed to disclose

If we glean anything from the demise of Dick Smith, it is that Australia's disclosure requirements for prospectuses need serious improvement. The market is not properly informed during new share issues.

Australian shares did OK if you avoided banks and miners

With the broad Australian stock index down 8% since the start of 2015, it looks like a poor period for equity markets. But if investors managed to avoid banks and miners, there's every chance their portfolio performed well.

Global credit valuations: are we there yet?

The market has seen a major widening of credit spreads as investors demand greater compensation for liquidity risk. Has the market reached the point where it offers value?

Value in Australian hybrids: are we there yet?

The increases in margins on Australian listed hybrids are prompting investors to ask whether the returns finally match the risks. Hybrids come in many forms so watch the finer details.

Oh dear, not another glitch with borrowing in SMSFs

Purchasing shares for your SMSF under a highly-leveraged Limited Recourse Borrowing Arrangement should take into account the ATO's 45-day rule, or risk losing the imputation credits.

Trends and themes in global pharmaceuticals stocks

Australian healthcare stocks have performed well recently, and now pharmaceutical companies globally are focussing on the prospects of biological drug development.

Most viewed in recent weeks

The strange effect of the 30% minimum capital gains tax

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.

High quality businesses are on sale

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.

Does your will qualify for the discretionary testamentary trust exemption?

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.

Ranking three common retirement strategies

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.

Welcome to Firstlinks Edition 667 with weekend update

The downfall of the giant and three lessons for investors.

  • 18 June 2026

Are you making these SMSF mistakes?

After four decades advising investors, there are a few common mistakes I've seen SMSF investors make. From holding too much cash and chasing yield to overtrading and trusting tips. Are these errors costing you?

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