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15 January 2025
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Recent volatility has reflected nervousness about tech stocks in the US and whether they can deliver returns on massive AI investment. With rates set to fall, these stocks and the broader US market should continue to find favour.
Powerful tailwinds are forming behind certain areas of global equity markets that previously spent many years in the wilderness. Chief among them are stockmarkets in Europe and Japan, which have surged in recent months.
Perhaps the most consequential lesson from the pandemic for companies is that relying on single links in the global supply chain is a mistake. Here's how businesses are adjusting and the implications for investors.
The odds favour a US recession, albeit a mild one. If Australia can manage an orderly reduction of household debt, then it will give the RBA more flexibility to increase interest rates and bring them in line with US rates.
For the world’s central banks, the second half of 2022 has been dominated by addressing ‘today’s problem’ of high inflation. In 2023, the banks will switch focus to 'tomorrow's problem': global growth and unemployment.
A global technology arms race between the US and China is heating up. We examine what's happening now and whats likely to happen in future. As well as the risks and opportunities for investors from this crisis.
Supply chain pressures highlight the important role and economic value created by companies working to make our infrastructure more efficient. We review two logistics companies that are well positioned to perform.
Stagflation occurs when economic growth slows (stagnation) and prices rise (inflation), and while this scenario has been evident for a while now, is it really the same as the last time, over 40 years ago?
Investors ask whether global supply chains were stretched too far and too complex, and following COVID, is globalisation dead? New research suggests the impact on investment returns will not be as great as feared.
Bull markets tend to follow their own momentum until they hit a clear opposing force. The economy is like a spring about to be uncoiled with the most obvious restraint on the horizon is the return of inflation.
With historic falls in greenhouse gas emissions during the COVID-19 pandemic, we have a unique opportunity to construct a recovery that ensures a stronger economy while minimising carbon emissions.
With 160 programmes underway and billions of dollars spent on COVID-19 vaccines, investors are drawn to optimistic news. However, the company that has developed most new vaccines has a sober view.
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.
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.
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.