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Past Performance

1-10 out of 10 results.

Extending performance tests to retirement super is a bad idea

Most superannuation products offered to working-age Australians are now performance-tested, and there are calls to extend these tests to account-based pensions. It's likely to result in more pain than gain, though.

Diversification is not a free lunch

Harry Markowitz said that “diversification is the only free lunch in investing” as holding a broader range of assets can result in better returns without assuming more risk. This has become accepted wisdom - but it isn't true.

Fighting the last war

Recency bias often prevents investors from rationally evaluating the road ahead. We look at how to counter this common error and build a durable investment portfolio that will perform under most circumstances.

Investment performance and start date randomness

Investors have different start dates for calculating investment performance, so each investor's experience of any one manager can be completely different from the next. You can't always trust that beautiful chart of past performance.

Using past performance is a risky way to invest

We often assign quality in investment choice by historical returns, backed up when we see fund flows directed towards such historically well-performing funds. This is a mistake made by investors and regulators.

Is this really the best way to remove the super underperformers?

The YFYS annual performance test neither measures the return members achieve, nor adequately measures the risks a fund took in achieving the returns, yet it is likely to change the way funds behave.

Shaken by stock market carnage? Forget everything

Nobody has a clue what is going to happen with the market. When deciding what to do with your stocks today, what matters is where the business and its intrinsic value may be 10 years down the line.

10 hints for selecting a good fund manager

Notwithstanding the wide variety of fund managers and fund structures vying for the investor dollar, some questions need to be asked of all of them. They help us determine the quality of the fund and the manager.

My 10 biggest investment management lessons

Every experienced investor develops a set of beliefs about how markets operate, and finds the proof points to defend those views. Managing the Third Link Growth Fund has taught Chris some unconventional lessons.

Investing and bike riding share similar cycles

Road cycling has an enthusiastic following among the corporate set, particularly within the investment community. Investing and cycling have much in common, especially after sitting in the saddle for a few days.

Most viewed in recent weeks

Why the $5.4 trillion wealth transfer is a generational tragedy

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.

The 2025 Australian Federal election – implications for investors

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.

Finding the best income-yielding assets

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.

What history reveals about market corrections and crashes

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. 

Howard Marks: the investing game has changed

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.

Welcome to Firstlinks Edition 605 with weekend update

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? 

  • 3 April 2025

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The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
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