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16 April 2025
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The Australian sharemarket seems to be rewarding a number of unprofitable companies on the promise of future riches. Yet profits and cashflows still matter, as a recent case study of Domino's Pizza shows.
Successful companies depend on management decisions, with bold choices, long-term vision, and calculated risks driving growth. Luxury brand, Hermès, exemplifies this, resulting in it creating immense shareholder wealth.
The FTX story has it all: fraud, greed, lust, large financiers and political connections. For Australian investors, it might seem the drama is too surreal to have any relevance, yet we think there are lessons to take away.
Listed companies often raise capital around the same time they pay dividends and return capital to shareholders, but proposed legislation may prevent companies paying franked dividends during a capital funding.
Companies with a boys’ club approach to leadership are a red flag for investors. On the other hand, companies that walk the talk on women in leadership roles perform better, potentially making them better investments.
We do not agree with Treasury’s suggestion that institutional investors are overly influenced by the research provided by proxy advisors. Here's how active ownership works to serve the client's best interests.
A fund that is 'passive' does not mean its managers merely invest as directed by the index with little concern for ESG risks. Good stewardship is valued as much by 'indirect' investors as direct shareholders.
Try having a direct conversation with a board member without going through the company's PR team. Boards can become managed and co-opted by company executives and forget who they work for.
While many investors are happy to invest in any online companies, Warren Buffett focusses more on the quality of future growth, buying companies whose earnings are 'virtually certain' in 10 or 20 years from now.
It’s not only products and business models that create wealth. Management teams make decisions on how to deploy capital and such actions drive vastly different outcomes over time.
Everyone seems to be watching The Last Dance, a fascinating sports documentary about the pursuit of excellence by one of the greatest athletes of all time. Let's not stretch the business analogy too far.
Female representation on boards is increasing but still low, and they command fewer positions in small companies. Worse, of the 34 CEOs appointed to boards in the last year, only three were women.
The intergenerational wealth transfer, largely driven by a housing boom, exacerbates economic inequality, stifles productivity, and impedes social mobility. Solutions lie in addressing the housing problem, not taxing wealth.
With an election due by 17 May, we are effectively in campaign mode with the Government announcing numerous spending promises since January and the Coalition often matching them. Here's what the election means for investors.
With fixed term deposit rates declining and bank hybrids being phased out, what are the best options for investors seeking income? This goes through the choices, and the opportunities and risks involved.
The S&P 500's recent correction raises concerns about a bear market. History shows corrections are driven by high rates, unemployment, or global shocks, and that there's reason for optimism for nervous investors today.
The famed investor says the rapid switch from globalisation to trade wars is the biggest upheaval in the investing environment since World War Two. And a new world requires a different investment approach.
Trump's tariffs and China's retaliatory strike have sent the Nasdaq into a bear market with the S&P 500 not far behind. What are the implications for the economy and markets, and what should investors do now?