On the Money

Simple rules for creating a lifelong investment portfolio

Last year, one of Australia’s leading investors and fund managers walked into my office for a recording of The Australian Investors Podcast. I had just been scribbling some notes on my whiteboard about philosophy, discount rates and practical aspects of investing…

War vs. COVID-19

The scale of the human, social and economic costs wrought by COVID-19 has prompted some politicians to compare it with war. Although this might create some good political spin, which is always attractive to politicians, it is not correct. The…

Small caps to remain attractive for investors

Following the March equity market correction due to the COVID-19 pandemic, global equity markets rebounded sharply in April, with the small cap sector outperforming. Although the short-term outlook remains uncertain, the market recovery was spurred on by several factors. Many…

Upcoming webinars & roundtables

As working from home has become the new normal for most people, there are still many opportunities for advisers and investors to cut through the noise and hear insights from some of the best investment managers and research teams from…

Stress testing supply chains

Our underlying companies in the Legg Mason Martin Currie Global Long Term Unconstrained Fund have shown resilience in terms of balance sheet strength and relative share price performance. However, given the unprecedented nature of the exogenous shock, and the recessionary…

Purposeful engagement is more effective than shareholder activism

Shareholder activist groups are diverting company management’s time and energy towards narrow environmental and social causes. We explore why active ownership and purposeful engagement can achieve a better outcome for all stakeholders. Shareholder activism on the rise At an increasing…

Assessing the impact on Australian small caps

The COVID-19 global pandemic is unfolding quite differently to all other major market events seen through history. Governments globally are facing a delicate balancing act between trying to minimise the health impact of the virus, whilst managing the severe disruption…

Not even normal for a crash

Stock markets have crashed, we can be confident of that. History suggests there is no quick recovery from crashes like these, which means lasting consequences for investors. The World Health Organisation declared the COVID-19 coronavirus a pandemic last Wednesday, wiping…

A 10-point plan to avoid recession

The world economy is teetering on a knife edge: the Chinese and Indian economies were slowing even before the COVID-19 Coronavirus, and as Australia was recovering from one of its worst bushfires. Share markets around the world collapsed at the…

Forget more compulsory super

The Grattan Institute has released its submission to the government’s retirement incomes review, a review called in anticipation of five annual increases in compulsory superannuation contributions, scheduled to begin in July 2021. Our research shows the super increases aren’t necessary.…