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31 January 2025
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As every aspect of our lives has been transformed by digitisation, the changing nature of money and currencies should come as no surprise. But while bitcoin is here to stay, many investors still lack a clear grasp of what it is.
Less government involvement in the economy and markets is long overdue. But investors need to consider what a reduced government role may mean for the profitability of businesses that are unable to offset rising cost pressures.
The US is days away from a presidential election with major repercussions for economic policy and investments in the US and the world. Views from First Sentier Investors and BNP Paribas Asset Management.
Central bank independence was an appropriate solution when inflation was a threat. In today’s low-inflation, low-growth and high-debt world, even central banks doubt their level of influence.
Even the experts concede that the more you know, the less you can be sure. Donald Trump is playing a game of brinkmanship with the trade wars, and it could end badly. Or not.
Tariffs are often seen as a negative for global trade. However, for road, rail, and port operators, tariffs may only re-calibrate origins and destinations. Political risk and the typically short life of a tariff also need to be considered.
In the 1970s, bank branches had pistols in the teller drawers and cupboards, but behind the accidents and hilarious stories lies a grim truth that is a warning to Trump's crazy idea to arm teachers.
After many years of disappointment, there is a renewed focus on the US’s need to invest heavily in infrastructure. With investors looking for consistent revenue streams, it's a welcome addition to the asset class.
Growth assets have defied most predictions and performed well six months on from Trump’s election, but what will be the market consequences of a possible impeachment, using history as a guide.
Is it better to position a portfolio with an over-reliance on economic growth expectations, or find companies winning market share, cutting costs, restructuring and acquiring independently of GDP hopes?
Trump’s vision for US trade policy might suit US corporates and Middle America, but the rest of the world will suffer the consequences. Income inequality and environmental setbacks are other unwelcome effects.
US small business expectations are high under a Trump presidency but reality and fundamentals rather than sentiment will need to kick-in soon to justify recent market gains.
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.
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.
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.
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.
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.
Getting regular, growing income from stocks is tougher with the dividend yield on the ASX nearing 25-year lows. Here are some conventional and not-so-conventional ideas for investors wanting to build a dividend portfolio.