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25 January 2025
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Nick Sherry calls for a less complex super system, the trading prices of LICs, who benefits from a weaker dollar, the liquidity of bonds, a bond Q&A, and the bank deposit guarantee not covering super deposits.
Australia has a world-class superannuation system, but it is also the most complex. From insurances to estate provisions to the many different forms of contributions and withdrawals, we should try to 'keep it simple'.
Extracts from Peter Costello's talk to super fund executives, where he criticises their self-interest and poor handling of the super policy debate. And from a prior speech, he backs Nick Sherry's call for simplicity.
The surge in popularity of listed investment companies has seen the erosion of the average price discount relative to net assets. Whether a LIC is likely to trade at a discount or a premium should inform your decision to invest.
The Australian dollar has finally fallen against the currencies of most trading partners, and there will be companies that benefit or struggle at the new levels. If you think it will fall further, how do you take advantage?
There's no straightforward answer to the question of whether a bond is liquid. Unfortunately, at the time when you most want to sell, everyone is likely to be running for the exit.
Cuffelinks reader, James, has some additional questions covering: bonds for capital gain or income, bonds in a growth strategy, passive vs active investing, unconstrained bond funds and duration risk.
The government guarantee on deposits has finally been legislated and based on information released by APRA you'd be forgiven for assuming that superannuation bank deposits would be covered. Not necessarily.
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.
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.
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.
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.
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.