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3 July 2024
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Now we're captivated by inflation and higher rates but only a year ago, investors were certain of the supremacy of US companies, the benign nature of inflation and the remoteness of tighter monetary policy.
Each stage in the economic cycle has unique characteristics that impact the relative performance of factors of individual shares that explain the long-term risk and return performance of an asset.
For a decade of accommodative central bank monetary policy, investors have been more macro-oriented, following liquidity and rate patterns. It’s time to focus on companies and be more micro-oriented.
Inevitably, with each new development in this cycle, investors as what they can do to prepare for a recession. Our answer: revisit asset allocation, diversify, and review active risks in your portfolio.
Many experts are warning that over the past 60 years, the yield curve has inverted in advance of every recession, but will a yield curve inversion have a different result this time?
Australian credit markets have had a good run, and any investor tempted to exit the sector should consider whether a move now is too early in the cycle. A period of range-bound stability is the more likely outcome.
Since the 1950s, predictions on the death of economic cycles have come and gone, and each time they have been wrong. But since no two cycles are the same, we ought to look for what’s different this time.
Too many variables affect the market and economies, and most are unforeseeable or overly complex to understand. Instead of wasting time on such macro issues, it's better to focus on your investment edge.
Promoters of different investment structures obviously extol the virtues of their own products and highlight the weaknesses of others. What's interesting is that a weakness can also be a strength.
Fundamental indexing is now well-established in Australia, but has recently underperformed cap-weighted indexes. What is the longer-term outlook and rationale?
Long term investors look forward to market-wide falls because good companies are sold off along with the rest. It gives a chance to buy into companies that were previously considered too expensive.
In part 2 of Who Wins? we look at an Australian investor holding US shares compared with an investment in the local market, plus the relationship between inflation and exchange rates.
Two commonly asked questions are: 'How much do I need to retire' and 'How much can I afford to spend in retirement'? This is a guide to help you come up with your own numbers to suit your goals and needs.
There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue.
Washington H. Soul Pattinson is an ASX top 50 stock with one of the best investment track records this country has seen. Yet, most Australians haven’t heard of it, and the company seems to prefer it that way.
We are often quoted life expectancy at birth but what matters most is how long we should live as we grow older. It is surprising how short this can be for people born last century, so make the most of it.
A new report suggests Australian housing is twice as expensive as that of the US and UK on a price-to-income basis. It also reveals that it’s cheaper to live in New York than most of our capital cities.
Here are 10 rules for staying happy and sharp as we age, including socialise a lot, never retire, learn a demanding skill, practice gratitude, play video games (specific ones), and be sure to reminisce.