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22 November 2024
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At any point in the investment cycle, there are experts waving red flags warning of market falls. In the depths of the GFC, few brave souls were buying the bargains while most investors were still looking for the exit amid fears of further losses.
Boom-bust cycles are inevitable and at some point, there will be a market correction although different to the GFC. Many of the signs of excess that normally precede severe and prolonged bear markets are not present yet.
At any point in the cycle, the portfolios of either the optimists or the pessimists perform better. Despite stretched valuations and rising rates, the optimists are winning at the moment.
The popular 'cyclically-adjusted' Shiller PE ratio is historically high and this is often quoted as a sign the market is overvalued, but consider the impact of the current low interest rates.
Value investing compares the estimated intrinsic value of a company with its market value, and although growth and value go in cycles, there are signs that some value stocks are at attractive levels.
Value investing is not just about a low P/E or EV/EBITDA. Other metrics need to be considered to prevent falling into a value trap, as well as what challenges are facing the industry and the time frame allowed for success.
The S&P500 experiences a one-month return of -10% or worse only 1.5% of the time. Most drawdowns were much shallower and occur at higher frequencies, but are they worth spending money to protect against?
A one sentence stream of consciousness born after listening to too many 'what-ifs' and 'on-the-other-hands' will leave you sitting firmly on the fence, which is neither a comfortable nor useful position.
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.
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.
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.
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.
How have so many wealthy families through history managed to squander their fortunes? This looks at the lessons from these families and offers several solutions to making and keeping money over the long-term.
A recent ruling from The Australian Financial Complaints Authority may herald a new era for financial scams. For the first time, a bank is being forced to reimburse a customer for the amount they were scammed.