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21 January 2025
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Political turmoil and new regulations have left Europe-listed small caps unloved and under-covered. Taking a 'friendly activist' approach to investing in those with global growth opportunities can reap dividends.
We do not agree with Treasury’s suggestion that institutional investors are overly influenced by the research provided by proxy advisors. Here's how active ownership works to serve the client's best interests.
A fund that is 'passive' does not mean its managers merely invest as directed by the index with little concern for ESG risks. Good stewardship is valued as much by 'indirect' investors as direct shareholders.
Try having a direct conversation with a board member without going through the company's PR team. Boards can become managed and co-opted by company executives and forget who they work for.
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.
Individuals may feel disempowered when their small number of shares are outweighed by large institutions, but combining retail power into a voting block can lead to meaningful engagement.
The days of company boards making decisions in isolation from their shareholders have long gone, and investor expectations are rising across many cultural and social issues.
Hostile takeover battles can produce heated disputes between company directors, managers and shareholders. What’s in the company’s long term interests and who decides? Does shareholder activism aid or hinder?
A fundamental tenet of free market capitalism is that owners choose how their assets are used to their best advantage. Does this apply to shareholders? And do super fund members get to exercise such choice?
A dedicated shareholder activist is an investor who actively seeks out companies with the intention of engaging directly with the board and management to address flawed strategies.
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.