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21 January 2025
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Will the Year of the Dragon prove a fruitful one for markets? Strong labor markets and a loosening in financial conditions should help in the first half of 2024, though things may get more rocky as the year progresses.
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.
As market uncertainty continues, it is more important than ever to have a sound investment process. To help with a long-term focus, it may be useful to have some guidelines to fall back on when the market noise gets too loud.
Housing market sentiment has eased from record highs and confidence has ticked down as house price rises slow. Construction costs overtook lack of development sites as the biggest impediment for new housing.
Rather than marking the end of a bull run for technology, the recent sell-off is just a healthy correction and offers a great buying opportunity into technology leaders that have strong long-term earnings growth.
At a recent industry panel, superannuation and funds management experts discussed the challenges facing the sector in 2021 and beyond. Investors should know what managers are thinking in growing their businesses.
The unrealistic value creation through lowering discount rates while assuming high growth shows a sensible link is critical. Interest rate assumptions need as much valuation focus as the cash flows of the business.
ETFs have grown rapidly in popularity and diversity, but like managed funds, not all products will survive for the long term and there are consequences if a small-scale ETF is closed by its issuer.
BlackRock's CEO, Larry Fink, wrote to over 1,000 business leaders on the importance of long-term value creation and why companies should make a positive contribution to society.
ETFs offer competitive pricing and easy access for investors, plus a wide range of market exposures. EY is forecasting wider investment mandates and continuing double-digit ETF growth globally.
The share prices of smaller companies are traditionally more volatile than large, but the market is changing and the roles seem to be reversing. Is it possible to change our bias against small caps?
New technologies and markets are driving opportunities for small to medium cap companies, as well as the global tech giants. Many Australian companies have jumped on the wave.
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.