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23 February 2025
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As markets whipsaw, the risk that volatility might undermine investors’ ability to achieve their return objectives looms large. What can investors do to mitigate that risk and avoid falling short of their goals?
Price is a subjective measure with no mathematical definition, but valuation approximates the truth. With many stock prices down, investors looking to buy should consider three steps suited to current market conditions.
The valuation maths of many expensive companies simply cannot work. They assume low interest rates for long terms, but strong economic growth to drive ongoing success. You can't have both.
Promoters of new listings can over-hype a loss-making company to achieve a desired valuation, but the market is increasingly critical of expensive IPOs. There are many ways to value the future.
Platinum's Kerr Neilson shares his insights into long term investing in global markets, especially the disruptive effects of technology and globalisation. And always with a focus on the price of a stock.
The investment landscape might have changed dramatically over the last 25 years, but investors can still rely on many of the same principles from the past to make sound investment decisions in the present.
Valuations of technology companies are driven by both external and internal factors, but it's still more art than science. There's no magic formula amid the guesswork but there are some basic principles to follow.
With investors gravitating towards ‘safer’ equities for yield, the equity risk premium is playing an important role in the variance of earnings multiples between defensive and cyclical sectors of the Australian equity market.
Cuffelinks reader, James, has some additional questions covering: bonds for capital gain or income, bonds in a growth strategy, passive vs active investing, unconstrained bond funds and duration risk.
When share prices are rising faster than corporate earnings, it is almost certain that the value available in the market is declining, and ultimately, value is a crucial driver of long term investment performance.
While encouraging people to draw down on their accumulated wealth in retirement might be good public policy, several million retirees disagree because they are purposefully conserving that capital. It’s time for a different approach.
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 CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.
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.
Australians are used to hearing dire warnings that they don't have enough saved for a comfortable retirement. Yet most people need to save a lot less than you might think — as long as they meet an important condition.
It’s well documented that many retirees draw down the minimum amount required and die with much of their super balances untouched. This explores the reasons why and some potential solutions to address the issue.