Welcome to Firstlinks Edition 660

Welcome to Firstlinks Edition 660

By 1976 Prime Minister Harold Wilson was exhausted, drinking excessively and demoralised. Wilson’s state didn’t substantially differ from his electorate. The UK was a mess. In the two years of his most recent run as Prime Minister, Wilson had been kicking the can down the road. With a razor thin majority of three seats in the House of Commons he ...
The ultimate superannuation EOFY checklist 2026

The ultimate superannuation EOFY checklist 2026

We have only a short time left to the end of the financial year to get our SMSF or other super funds in order and ensure we are making the most of the strategies available to us. Here is a checklist of the most important issues that you should address with your advisers before the year-end. Get this wrong and your SMSF could lose tax exemptions, ...
Two months into retirement

Two months into retirement

For those of you who don’t know me, I retired 2 months ago from being a full-time academic researching retirement planning for nearly 20 years. Now I am focusing on implementing my findings: for myself, for individuals and for organisations. As I promised when I retired, I am providing a month by month account of my findings from the other side. As ...
We tend to spend less in retirement …

We tend to spend less in retirement …

… but we seem to appreciate it more. Let me start by giving you some quick conclusions from studies on retirement spending and satisfaction. Then I’ll explain where those findings come from. Do the relevant studies constitute good scientific, or at least economic, proof? No, but it all seems very reasonable. That’s why I’m writing this. I’ll explain ...
Can you value a share just using dividends?

Can you value a share just using dividends?

John Burr Williams’ family could trace their lineage in North America back to the first English settlements. He made a significant contribution to the investing world but he was not the only family member who left a mark. One relative founded Princeton University and had a son who became Vice President of the United States. He was the first of two ...
The 25-year property trust default is being questioned

The 25-year property trust default is being questioned

For a quarter of a century, the discretionary trust has been the automatic structure for sophisticated property investors in Australia. Accountants defaulted to it. Investors defaulted to it. In our brokerage, we’ve written deal after deal into trust structures without the question of whether it was the right vehicle really coming up. In the last few ...
Are active managers bringing a knife to a gunfight?

Are active managers bringing a knife to a gunfight?

Stock volatility is at unprecedented levels. Whether it is Cochlear’s April trading update, the 2026 Hormuz crisis, Liberation Day in 2025, or a company reporting season, the swings are sharper and less anchored to fundamentals than at any previous point in market history. The market structure has permanently changed in how equity prices are set, and ...

Welcome to Firstlinks Edition 660

Welcome to Firstlinks Edition 660
By 1976 Prime Minister Harold Wilson was exhausted, drinking excessively and demoralised. Wilson’s state didn’t substantially differ from his electorate. The UK was a mess. In the two years of his most recent run as Prime Minister, Wilson had been kicking the can down the road. With a razor thin majority of three seats in the House of Commons he ...

The ultimate superannuation EOFY checklist 2026

The ultimate superannuation EOFY checklist 2026
We have only a short time left to the end of the financial year to get our SMSF or other super funds in order and ensure we are making the most of the strategies available to us. Here is a checklist of the most important issues that you should address with your advisers before the year-end. Get this wrong and your SMSF could lose tax exemptions, ...

Two months into retirement

Two months into retirement
For those of you who don’t know me, I retired 2 months ago from being a full-time academic researching retirement planning for nearly 20 years. Now I am focusing on implementing my findings: for myself, for individuals and for organisations. As I promised when I retired, I am providing a month by month account of my findings from the other side. As ...

We tend to spend less in retirement …

We tend to spend less in retirement …
… but we seem to appreciate it more. Let me start by giving you some quick conclusions from studies on retirement spending and satisfaction. Then I’ll explain where those findings come from. Do the relevant studies constitute good scientific, or at least economic, proof? No, but it all seems very reasonable. That’s why I’m writing this. I’ll explain ...

Can you value a share just using dividends?

Can you value a share just using dividends?
John Burr Williams’ family could trace their lineage in North America back to the first English settlements. He made a significant contribution to the investing world but he was not the only family member who left a mark. One relative founded Princeton University and had a son who became Vice President of the United States. He was the first of two ...

The 25-year property trust default is being questioned

The 25-year property trust default is being questioned
For a quarter of a century, the discretionary trust has been the automatic structure for sophisticated property investors in Australia. Accountants defaulted to it. Investors defaulted to it. In our brokerage, we’ve written deal after deal into trust structures without the question of whether it was the right vehicle really coming up. In the last few ...

Are active managers bringing a knife to a gunfight?

Are active managers bringing a knife to a gunfight?
Stock volatility is at unprecedented levels. Whether it is Cochlear’s April trading update, the 2026 Hormuz crisis, Liberation Day in 2025, or a company reporting season, the swings are sharper and less anchored to fundamentals than at any previous point in market history. The market structure has permanently changed in how equity prices are set, and ...