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21 January 2025
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Bank disruption post-Commission, reverse mortgages, asset performance, taxing issues for ETFs, valuing disruptors, US equity mix, LIC Hearts & Minds.
Many people are hoping bank profits and share prices will resume growth once the Royal Commission is done with, but new competition from digital disruptors could mean disappointment for bank shareholders.
As the population ages and property prices rise rise, equity in owner homes has more potential as a significant source of 'retirement income'. But an ASIC report highlights complexities in reverse mortgages not well understood.
There is no single asset class that consistently outperforms all others year on year but over the long term (>10 years), actively managed asset classes have performed better, and all asset classes have outperformed inflation.
ETFs are popular investment vehicles but can be complex for tax returns. The ATO classifies them as trusts, and investors, administrators and accountants need to know the details.
Investors in Tesla at current prices are not neglecting the obvious. Disruptors come at a high price because they do not carry the sunk costs of infrastructure and outdated distribution models.
The sizeable increase in the market capitalisation of the technology leaders has inadvertently led to reduced diversification via a reduction to a mid cap exposure in portfolios represented by the Russell 1000.
An investment company with both charitable and performance goals is expected to list on the ASX in November 2018. Besides a high conviction equity portfolio, it will invest in medical research.
Last year, I wrote an article suggesting returns from ASX stocks would trample those from housing over the next decade. One year later, this is an update on how that forecast is going and what's changed since.
The housing market was subdued in 2024, and pessimism abounds as we start the new year. 2025 is likely to be a tale of two halves, with interest rate cuts fuelling a resurgence in buyer demand in the second half of the year.
The renowned investor has penned his first investor letter for 2025 and it’s a ripper. He runs through what bubbles are, which ones he’s experienced, and whether today’s markets qualify as the third major bubble of this century.
This examines the performance of key asset classes and sub-sectors in 2024 and over longer timeframes, and the lessons that can be drawn for constructing an investment portfolio for the next decade.
Key lessons include expensive stocks can always get more expensive, Bitcoin is our tulip mania, follow the smart money, the young are coming with pitchforks on housing, and the importance of staying invested.
Check out the most-read Firstlinks articles from 2024. From '16 ASX stocks to buy and hold forever', to 'The best strategy to build income for life', and 'Where baby boomer wealth will end up', there's something for all.