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Edition: 547

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Welcome to Firstlinks Edition 547 with weekend update

  • 15 February 2024
  • 10

The latest data from APRA and the ATO shows SMSFs continue to grow. Almost 612,000 SMSFs hold $885 billion in assets, with most of the money in listed shares, cash and term deposits, as well as unlisted trusts.

UniSuper's CIO on why the market rally could continue

Markets have rallied hard of late. In his latest investment update, UniSuper CIO John Pearce looks at what’s behind the recent strength, whether it's justified, and the risks for the market going forwards.

A case study in good business culture versus bad

Peter Drucker’s axiom “culture eats strategy for breakfast” continues to ring true. If culture is the sophisticated word for execution, Boral has been a standout over the past 12 months, while Fletcher Building has lagged.

Indexing tax thresholds to address bracket creep

To negate bracket creep, the thresholds at which marginal tax rates change should be indexed to inflation. Instead, governments legislate ad-hoc tax cuts to address bracket creep and announce them with great fanfare.

Meg on SMSFs: Is contribution splitting a forgotten strategy?

It's a surprise how rarely we see ‘spouse contribution splitting’ in SMSFs. This type of splitting is a special rule that effectively allows someone to ‘give’ some of their super contributions to their spouse.

Graham Turner on lessons from 40+ years of Flight Centre Part 2

In this exclusive interview, Graham Turner talks about how Flight Centre went global, what he's learned from key mistakes, the way he uses psychology to build the right teams, and his criteria for making acquisitions.

What's unique about private equity?

Research finds that private equity claims of offering superior risk-adjusted returns to public markets are exaggerated. Complexity, capital calls, and illiquidity are among the challenges investors face to reap potential rewards.

Are record market highs bullish or bearish?

Stocks have had a barnstorming run of late, breaking to new highs in many markets, as they anticipate imminent cuts to interest rates in the US. Can the run continue, and if so, what are the key signposts to look for?

Most viewed in recent weeks

Vale Graham Hand

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.

Australian stocks will crush housing over the next decade, one year on

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.

Avoiding wealth transfer pitfalls

Australia is in the early throes of an intergenerational wealth transfer worth an estimated $3.5 trillion. Here's a case study highlighting some of the challenges with transferring wealth between generations.

Taxpayers betrayed by Future Fund debacle

The Future Fund's original purpose was to meet the unfunded liabilities of Commonwealth defined benefit schemes. These liabilities have ballooned to an estimated $290 billion and taxpayers continue to be treated like fools.

Australia’s shameful super gap

ASFA provides a key guide for how much you will need to live on in retirement. Unfortunately it has many deficiencies, and the averages don't tell the full story of the growing gender superannuation gap.

Looking beyond banks for dividend income

The Big Four banks have had an extraordinary run and it’s left income investors with a conundrum: to stick with them even though they now offer relatively low dividend yields and limited growth prospects or to look elsewhere.

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