Shortly before Christmas, Treasury released draft legislation for a new version of the controversial Division 296 tax – the additional tax for those with more than $3 million in super. The new version does represent a significant improvement on the original proposal in that it no longer includes taxing unrealised capital gains. But there are definitely ...
As is our custom at this time of the year, we provide 10 fearless forecasts for the year ahead.
The track record of these forecasts is pretty good as you’ll see later.
Off to the races? Unfortunately, no. These forecasts are quite different from most that you read at this time of the year. Firstly, they are quite accurate. Secondly, there are not a lot ...
A million people generate a lot of demand for things. Hospitals included. In Australia, we need on average 1 hospital bed for every 270 people, so that’s 3,703 beds for 1 million people. Based on a large hospital of say 500 beds, that’s roughly 7.5 hospitals for 1 million people.
Why is this of interest? Because we are about to add another million ...
For generations, the US dollar has been regarded as the ultimate ‘safe haven’. In times of uncertainty, global investors instinctively seek the depth, liquidity, and unrivalled status of the world’s reserve currency. But what if that confidence is misplaced? What if the US dollar is actually the riskiest major currency to own today?
The dollar’s ...
This is a brief summary of some aspects of my experiences dealing with my mother’s dementia and dementia facilities in Sydney over the past three years. Every case is different of course, so these are just my random anecdotal comments that may be of interest to others facing the prospect of parent(s) or family member(s) with, or developing, ...
The defining event of 2025 was the announcement of Trump’s tariffs and an escalation of the trade war with China. While tensions cooled throughout the remainder of the year, sparking a historic stock market rally, it would be wrong to think the trade war is over.
Why? Because nothing has really changed.
The US is still running a massive trade deficit ...
When Tesla shareholders approved Elon Musk’s trillion-dollar pay deal, the headlines focused on excess. Yet its structure may be one of the clearest examples of alignment between leadership and shareholders.
Investors shouldn’t dismiss it. They should study it. Beneath the noise is a blueprint for how pay can drive founder-style thinking – and a ...
The Weekend Edition includes a market update plus Morningstar adds links to two additional articles.
Happy New Year to everyone. I trust you got through the festivities in one piece, albeit perhaps a kilo or two heavier.
Last year, Firstlinks published more than 400 articles, including editorials. We’re lucky enough to have great sponsors that produce ...
Hello, and a very Happy New Year to you.
This time last year, I urged investors here at Firstlinks to ignore the “chorus of market watchers insisting the current rally in equities is overdone and that markets are ripe for a correction.” Instead, I explained why 2025 could be another positive year, revisiting the logic behind the bullish stance we’ve ...
Much has been written about the ‘exceptional’ performance of the US stock market versus the Australian index. However, the reality is not in line with the perception.
Similar to the All Ordinaries Accumulation Index (AOAI), the Dow Jones Industrial Average (DJIA) comprises a vast array of sectors and subsectors. In recent times, the US Technology ...
Each December, an old habit returns – identifying the year’s X-Factor – the unexpected force that materially shapes investment outcomes.
The concept dates back to 1974, when I left the Reserve Bank to join Bain & Company. Soon after, Japanese life offices and pension funds began buying Australian bonds in significant volumes. At a lunch discussing ...
This essay was born out of revulsion to an accidental summer reading that paraded progress as virtue and private equity as its high priest. Every paragraph spoke the same pious language of “sustainable improvement,” “societal benefit,” and “long-term value creation,” as though leverage, asset-stripping, and balance-sheet cosmetics had become moral ...
Shortly before Christmas, Treasury released draft legislation for a new version of the controversial Division 296 tax – the additional tax for those with more than $3 million in super. The new version does represent a significant improvement on the original proposal in that it no longer includes taxing unrealised capital gains. But there are definitely ...
As is our custom at this time of the year, we provide 10 fearless forecasts for the year ahead.
The track record of these forecasts is pretty good as you’ll see later.
Off to the races? Unfortunately, no. These forecasts are quite different from most that you read at this time of the year. Firstly, they are quite accurate. Secondly, there are not a lot ...
A million people generate a lot of demand for things. Hospitals included. In Australia, we need on average 1 hospital bed for every 270 people, so that’s 3,703 beds for 1 million people. Based on a large hospital of say 500 beds, that’s roughly 7.5 hospitals for 1 million people.
Why is this of interest? Because we are about to add another million ...
For generations, the US dollar has been regarded as the ultimate ‘safe haven’. In times of uncertainty, global investors instinctively seek the depth, liquidity, and unrivalled status of the world’s reserve currency. But what if that confidence is misplaced? What if the US dollar is actually the riskiest major currency to own today?
The dollar’s ...
This is a brief summary of some aspects of my experiences dealing with my mother’s dementia and dementia facilities in Sydney over the past three years. Every case is different of course, so these are just my random anecdotal comments that may be of interest to others facing the prospect of parent(s) or family member(s) with, or developing, ...
The defining event of 2025 was the announcement of Trump’s tariffs and an escalation of the trade war with China. While tensions cooled throughout the remainder of the year, sparking a historic stock market rally, it would be wrong to think the trade war is over.
Why? Because nothing has really changed.
The US is still running a massive trade deficit ...
When Tesla shareholders approved Elon Musk’s trillion-dollar pay deal, the headlines focused on excess. Yet its structure may be one of the clearest examples of alignment between leadership and shareholders.
Investors shouldn’t dismiss it. They should study it. Beneath the noise is a blueprint for how pay can drive founder-style thinking – and a ...
The Weekend Edition includes a market update plus Morningstar adds links to two additional articles.
Happy New Year to everyone. I trust you got through the festivities in one piece, albeit perhaps a kilo or two heavier.
Last year, Firstlinks published more than 400 articles, including editorials. We’re lucky enough to have great sponsors that produce ...
Hello, and a very Happy New Year to you.
This time last year, I urged investors here at Firstlinks to ignore the “chorus of market watchers insisting the current rally in equities is overdone and that markets are ripe for a correction.” Instead, I explained why 2025 could be another positive year, revisiting the logic behind the bullish stance we’ve ...
Much has been written about the ‘exceptional’ performance of the US stock market versus the Australian index. However, the reality is not in line with the perception.
Similar to the All Ordinaries Accumulation Index (AOAI), the Dow Jones Industrial Average (DJIA) comprises a vast array of sectors and subsectors. In recent times, the US Technology ...
Each December, an old habit returns – identifying the year’s X-Factor – the unexpected force that materially shapes investment outcomes.
The concept dates back to 1974, when I left the Reserve Bank to join Bain & Company. Soon after, Japanese life offices and pension funds began buying Australian bonds in significant volumes. At a lunch discussing ...
This essay was born out of revulsion to an accidental summer reading that paraded progress as virtue and private equity as its high priest. Every paragraph spoke the same pious language of “sustainable improvement,” “societal benefit,” and “long-term value creation,” as though leverage, asset-stripping, and balance-sheet cosmetics had become moral ...
