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21 January 2025
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In recent years, large caps returns have dwarfed those of small and mid-caps, especially in the US. 2024 could be the year that reverses as earnings growth re-accelerates for higher quality smaller companies.
Despite recession predictions, consumer activity and corporate earnings are holding up well. Global long-term interest rates probably peaked last October, and there are signs of corporate earnings re-acceleration.
If you're still getting your head around blockchain, read this quick summary on the potential of distributed ledgers. The technology is not without problems but cannot be ignored.
New technologies are transforming the property industry. While many have recognised this trend, they haven’t yet developed a business strategy based on this transformation.
Maybe this time, investing IS different, as technology approaches tipping points of exponential advancement. Developments in genomics, robotics, artificial intelligence and computing power may go in unforeseen directions.
Online brokers have traditionally been more consumer-focussed than their institutional competitors, but developments in fintech are forcing them to adapt and embrace innovation to stay on top of what consumers want.
While roboadvice businesses are ramping up in Australia, we are yet to see one come close to providing the full range of financial advice services offered by human advisors. The nuances are too complex.
Roboadvice disruption could come from anywhere, opening the door for non-traditional providers without incumbents even realising it. When it's more exciting, it can grab the attention of the previously disengaged.
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.