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21 April 2025
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The market share for Exchange Traded Funds and index trackers may increase past optimal levels and stay there for many years. There seems very little if anything that active managers can do to reverse that.
There are signs that passive investing is struggling to keep up in a world that's rapidly passing it by. To understand why, we need to talk about how private equity has revolutionised the investment landscape.
In a recent interview, Morningstar CEO Kunal Kapoor explains why low-cost investing wins, how artificial intelligence and ESG will bring lots of opportunities, and why distractions are an investor's worst enemy.
Famed investor David Einhorn says passive investing has broken markets and it's forced him to change his investment style to stay in business. How has passive investing transformed markets, and what happens next?
John Bogle famously advocated a two-fund portfolio of US stocks and bonds. Recently, I tried to create an Australian version of the Bogle portfolio and found that what seems simple can quickly turn complicated.
The S&P/ASX 200 index is one of the most concentrated sharemarket indices in the world. Equal weighted indices can offer an alternative and have historically outperformed their market capitalisation counterparts.
An index rebalance occurs when the composition of an index changes. Fund managers must buy and sell stocks to match the rebalanced index and to achieve their index-tracking objective, but there are consequences.
In his final letter as CEO of Amazon, Jeff Bezos implored people to avoid being normal, to nurture their distinctiveness. Fund managers should earn their active fees by building unique, active portfolios.
Based on a long investing career, the author sets out his beliefs without attempting to justify them here. Readers can agree or disagree. It's his guide for friends and family with an actionable variation for risk appetite.
A look at long-term performance gives a sense of perspective that helps tune out short-term noise, focus on your long-term goals and ‘stay the course’. Here are some interactive charts.
Howard Marks' memos to his clients are always worth reading, and when a highly successful manager acknowledges the strengths of index investing, it's worth checking what he says.
Passive investing typically incurs less tax than active investing but should be made even more tax-effective by using losses in the portfolio to offset taxable capital gains.
The intergenerational wealth transfer, largely driven by a housing boom, exacerbates economic inequality, stifles productivity, and impedes social mobility. Solutions lie in addressing the housing problem, not taxing wealth.
With an election due by 17 May, we are effectively in campaign mode with the Government announcing numerous spending promises since January and the Coalition often matching them. Here's what the election means for investors.
With fixed term deposit rates declining and bank hybrids being phased out, what are the best options for investors seeking income? This goes through the choices, and the opportunities and risks involved.
The S&P 500's recent correction raises concerns about a bear market. History shows corrections are driven by high rates, unemployment, or global shocks, and that there's reason for optimism for nervous investors today.
The famed investor says the rapid switch from globalisation to trade wars is the biggest upheaval in the investing environment since World War Two. And a new world requires a different investment approach.
Trump's tariffs and China's retaliatory strike have sent the Nasdaq into a bear market with the S&P 500 not far behind. What are the implications for the economy and markets, and what should investors do now?