Welcome to Firstlinks Edition 655

Welcome to Firstlinks Edition 655

The market continues to swerve with each new development in the Middle East. This can be a scary time for investors which increases the chance of making mistakes. These are three quotes I come back to when markets are volatile. “Everyone has a plan until they get punched in the mouth.” Mike Tyson Yes, I am talking about Mike Tyson. The one with the ...
The thin line between investing and gambling

The thin line between investing and gambling

Ben Graham was born in England and moved with his family to the US when he was 1 year old. His father took the family to New York to set up a new branch of a successful family business. This was far from the prototypical immigrant experience. His family was wealthy and moved to 5th Avenue in a house staffed by domestic servants. This lifestyle would ...
Are we running out of gold?

Are we running out of gold?

Mined gold production reached a record high in 2025, based on our 2025 Gold Demand Trends report(Chart 1). Global miners produced 3,672 tonnes of gold, a modest year-on-year increase of 1% and the highest in our data series – albeit this may be subject to revisions when more data becomes available.[1] And we expect mined gold production to further ...
Policy setting in democracies

Policy setting in democracies

Energy and climate policy in this country continues to divide many in the electorate and has been at the forefront of political debate for several decades now. Recently, I argued that current policy is leading us down a path of ‘duplication’ as opposed to a path of genuine energy ‘substitution’. I was implying that policy is top heavy in the pursuit of ...
Take my money and lie to me… again

Take my money and lie to me… again

This will be the third time I’ve written specifically about private assets under the “take my money and lie to me” title, and honestly, I wish I didn’t have to do it. The first time I did so, in December of 2022, a large Canadian mortgage lender with a sterling reputation decided that they would suspend redemptions on a fund that was marketed to ...
Australia was once a world leader in innovation, now the system is ‘broken’

Australia was once a world leader in innovation, now the system is ‘broken’

Australia’s research and innovation system is “broken” and needs “bold reform”, according to a major new independent report released on Tuesday. Titled “Ambitious Australia”, it’s the culmination of a strategic examination of research and development in Australia, commissioned by the federal government in December 2024. It was led by Tesla chairwoman ...

Welcome to Firstlinks Edition 655

Welcome to Firstlinks Edition 655
The market continues to swerve with each new development in the Middle East. This can be a scary time for investors which increases the chance of making mistakes. These are three quotes I come back to when markets are volatile. “Everyone has a plan until they get punched in the mouth.” Mike Tyson Yes, I am talking about Mike Tyson. The one with the ...

The thin line between investing and gambling

The thin line between investing and gambling
Ben Graham was born in England and moved with his family to the US when he was 1 year old. His father took the family to New York to set up a new branch of a successful family business. This was far from the prototypical immigrant experience. His family was wealthy and moved to 5th Avenue in a house staffed by domestic servants. This lifestyle would ...

Are we running out of gold?

Are we running out of gold?
Mined gold production reached a record high in 2025, based on our 2025 Gold Demand Trends report(Chart 1). Global miners produced 3,672 tonnes of gold, a modest year-on-year increase of 1% and the highest in our data series – albeit this may be subject to revisions when more data becomes available.[1] And we expect mined gold production to further ...

Policy setting in democracies

Policy setting in democracies
Energy and climate policy in this country continues to divide many in the electorate and has been at the forefront of political debate for several decades now. Recently, I argued that current policy is leading us down a path of ‘duplication’ as opposed to a path of genuine energy ‘substitution’. I was implying that policy is top heavy in the pursuit of ...

Take my money and lie to me… again

Take my money and lie to me… again
This will be the third time I’ve written specifically about private assets under the “take my money and lie to me” title, and honestly, I wish I didn’t have to do it. The first time I did so, in December of 2022, a large Canadian mortgage lender with a sterling reputation decided that they would suspend redemptions on a fund that was marketed to ...

Australia was once a world leader in innovation, now the system is ‘broken’

Australia was once a world leader in innovation, now the system is ‘broken’
Australia’s research and innovation system is “broken” and needs “bold reform”, according to a major new independent report released on Tuesday. Titled “Ambitious Australia”, it’s the culmination of a strategic examination of research and development in Australia, commissioned by the federal government in December 2024. It was led by Tesla chairwoman ...