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2 April 2025
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The rise of passive investing is unlikely to derail the value of quantitative strategies. Passive investing hasn’t eradicated the irrationality of crowds, leaving pockets of opportunity to outperform indices.
Investors are overexposed to recent winners, namely large cap, growth stocks. As a whole, these stocks are exceptionally expensive, which means investors may need to switch strategies to outperform going forward.
After a hiatus last year, growth stocks are back in vogue as investors search for the 'next big thing'. That makes today's market environment unusually rich in attractive, high dividend-yielding companies.
There's been a 13-year runway of varying degrees of capital allocation that paid little attention to fundamentals and valuation. If there was ever a market environment when quality stocks are expected to perform, it's now.
As market uncertainty continues, it is more important than ever to have a sound investment process. To help with a long-term focus, it may be useful to have some guidelines to fall back on when the market noise gets too loud.
Equity investing comes with volatility that makes many retirees uncomfortable. A focus on income which is less volatile than share prices, and quality companies delivering robust earnings, offers more reassurance.
During this heightened uncertainty, Value stocks have performed relatively well, coinciding with higher inflation. Expensive Growth stocks, hit by slowing growth and materials shortages, have sold off. Where to now?
It's complicated. Rising bond yields reflect optimism about economic growth and improving business conditions. But as the recovery matures, increases in bond rates prove counter-productive, kerbing economic growth.
The traditional single-period measurement tools such as P/E or EV/EBITDA do not allow for cashflows looking out many years, which are needed to value great companies of the future such as Xilinx, Nvidia and Qualcomm.
The shift in dynamics from growth to value can be seen in the rotation of tech and communications names out of the top 20 performers to be replaced by value-style industrials, energy and financials. Will it continue?
By now, we know 'growth' stocks have outperformed 'value' for many years and investors look to the future, but there are good reasons why the switch is on, especially as value companies emerge from the pandemic.
As the world gradually emerges from the aftermath of COVID-19, many are questioning if now is value’s time to shine? How can value stocks deliver outperformance in today’s environment?
This time last year, I highlighted 16 ASX stocks that investors could own indefinitely. One year on, I look at whether there should be any changes to the list of stocks as well as which companies are worth buying now.
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.
The ABS recently released figures which are used to determine key superannuation rates and thresholds that will apply from 1 July 2025. This outlines the rates and thresholds that are changing and those that aren’t.
With the arrival of the new year, the first members of ‘Generation X’ turned 60, marking the start of the MTV generation’s collective journey towards retirement. Are Gen Xers and our retirement system ready for the transition?
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.
Warren Buffett's annual shareholder letter has been fixture for avid investors for decades. In his latest letter, Buffett is reticent on many key topics, but his actions rather than words are sending clear signals to investors.