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15 January 2025
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Inside the previous crisis, what's wrong with "I don't know"?, more efficient pensions and the third in a series on annuities.
With such political uncertainty in the US, it's one of those times when “I don’t know” should be a more common response from commentators and analysts. They're too dismissive of the potential for poor outcomes.
It's easy to forget how severe the GFC was in destroying confidence and locking up markets. There was a genuine fear that the world was such a toxic place that no credit could be trusted.
When the GFC hit Europe, a billion dollars of notes we had on issue matured over the following months without a single rollover at any price. It confirmed the need for diversified funding sources for every major borrower.
Life annuities is a product with theoretical appeal but it does not gather significant market acceptance. These behavioural reasons need to be addressed before substantial increases in sales occur.
Your age pension entitlement is assessed under the Income Test, and it may be worth re-setting the deductible amount to improve your pension payments if it's been a while since the last calculation.
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.
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.
2024 was a banner year for equities, with a run-up in US tech stocks broadening into a global market rally, and the big question now is whether the good times can continue? History suggests optimism is warranted.