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28 January 2025
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A nascent theme today is that the inverse correlation between bonds and stocks has returned as inflation and economic growth moderate. This broadens the potential for risk-adjusted returns in multi-asset portfolios.
Magellan's Head of Global Equities, Arvid Streimann, thinks that although stock price momentum will slow next year, cyclical companies will lead the pack. He outlines the risks to his forecast and the stocks he likes best.
As the S&P 500 rips to new highs, the US now accounts for a staggering two-thirds of the world equity index. This looks at how America came to dwarf other markets, and what could change to slow or halt its momentum.
Despite an explosion in data, investment titan, Cliff Asness, believes the market has become less efficient, not more, over his 34-year career. He explains why, and how you can take advantage of it.
Like the proverbial middle child, global mid-caps tend to be overlooked and underappreciated. However, mid-caps offer potentially more growth than large caps and less risk and volatility than small and micro-caps.
The 'Magnificent Seven' stocks in the US have had an incredible run and many investors are wondering how long it can last. While it may be tempting to take profits in these stocks, it could prove a costly error.
It's ASX reporting season again and a big watch will be on the impact that a softening economy has on company results and outlooks. Here's your guide for what to expect, and potential winners and losers.
The barbarians of buyouts have become the angels of alternatives: KKR is now one of the world's dominant alternate asset managers. Many investors are underestimating the vast opportunities in KKR’s addressable markets.
A key decision that investors face is whether to pursue investments over a short or long-term horizon. Both approaches have benefits and drawbacks and understanding the differences is critical to managing a portfolio.
ASX small caps have recently underperformed larger companies and liquidity in these companies has vanished. That provides a chance for enterprising investors to buy fast growing yet cheap small and micro cap stocks.
There's a common belief that the outperformance of 'growth investing' over 'value investing' since the GFC is simply due to the fall in longer-term interest rates, but is this really the case? The answer may surprise you.
After investors become more realistic in terms of earnings over the next three months and earnings are rebased, the outlook for the share market is expected to be positive heading into the second half of this year.
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.
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.
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.