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22 July 2024
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Regardless of the strengths of a stock, there are no certainties. Bond rates have risen far higher than most analysts expected and 'bond proxies' have suffered, even property with long leases, quality tenants and tailwinds.
A growing number of Australians are choosing to hedge their international equity exposures. Currency movements are difficult to predict so investors should treat currency hedging as a way to manage risk, not to add return.
While private investments remain a potential source for differentiated equitylike return streams, their structure merits caution for retail investors. These investments can easily turn south without access to high quality teams.
Financial markets have been volatile of late, and it's tempting for investors to seek shelter in cash for some or all of their nest egg. While that may seem a sensible strategy, it can also be a costly one.
ASX small caps have recently underperformed larger companies and liquidity in these companies has vanished. That provides a chance for enterprising investors to buy fast growing yet cheap small and micro cap stocks.
Owning bonds is less risky than owning shares, right? The evidence suggests that while this may be true in the short term, it isn't over longer time horizons, with important implications for asset allocation.
Are super fund allocations to private markets a form of 'volatility laundering' as one commentator suggests? Perhaps, but it's crucial to distinguish between different segments of private markets for a complete picture.
With domestic equities markets affected by macroeconomic volatility in 2022, Australian Ethical discusses the headwinds faced by investors and some of the opportunities this environment creates for 2023.
The Asset Class Gameboard for the last 20 years offers many lessons for investors, with the winner changing almost every year. 2022 delivered a number of extremes, but overall, equities win if investors can tolerate the risk.
Capital growth may disappoint over the next decade, making dividends critical to investor returns. The best stocks will be those that pay consistent, high dividends and are inexpensive.
In volatile markets, asset allocation should consider scenarios based on differing likelihoods. There are always a number of low probability, extreme outcomes so don't assume the central case is the only possibility.
Every successful fund manager suffers periods of underperformance, and investors who jump from fund to fund chasing results are likely to do badly. Selecting a manager is a long-term decision but what else?
There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue.
Here are 10 rules for staying happy and sharp as we age, including socialise a lot, never retire, learn a demanding skill, practice gratitude, play video games (specific ones), and be sure to reminisce.
A new report suggests Australian housing is twice as expensive as that of the US and UK on a price-to-income basis. It also reveals that it’s cheaper to live in New York than most of our capital cities.
The discounts on listed investment vehicles are at historically wide levels. There are lots of reasons given, including size and liquidity, yet there's a better explanation for the discounts, and why a rebound may be near.
The best way to lose money in markets is to chase the latest stock fad. Conversely, the best way to build wealth is by pursuing a timeless investment strategy that won’t be swayed by short-term market gyrations.
The life expectancy tables used throughout the financial advice and retirement industry have issues and you need to prepare for the possibility of living a lot longer than you might have thought. Plan accordingly.