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July 2025

1-2 out of 2 results.
Investment & Wealth MgmtAustralian shares International shares
The US stock market is the second LEAST concentrated stock market in the world! Why all the fuss?

Alarmist commentaries allege 'concentration' in the US stock market. Nvidia has shot up to 6% of total US market value. But this is actually the second SMALLEST 'largest stock weight per country' in the world. Only Japan has a less concentrated stock market. The 5 largest US stocks comprise 22% of total US market value, but there are 20 countries where more than 22% is in just ONE stock. The 10 largest US stocks comprise 31% of total US market value, but there are a dozen countries where more than that is in just ONE stock. In Australia there is also rising concern that CBA is now 12 % of total ASX market value. Actually, this is still relatively low. What concerns me is NOT concentrations, but excessive VALUATIONS, and over-confidence that earnings and dividends will rise to justify current prices. &

Ashley Owen Jul 04, 2025
Investment & Wealth MgmtFinancial MarketsInterest ratesInflationAustralian shares International sharesCommodities
June 2025 snapshot: another great month (and financial year) for shares and diversified investors

Another month of strong gains on global share markets, across almost all industry sectors. Gold and oil prices spiked briefly after the US bombing of Iran, but receded by month end. Industrial commodities are mostly down on global slowdown fears plus over-production. Bond yields are down on global slowdown fears, and the US dollar continues to slide as per plan. For the 2024/5 financial year, diversified growth/balanced portfolios posted another year of above-average double-digit returns, despite all of the dramas and scares during the year.

Ashley Owen Jul 01, 2025 2

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The information contained in this document relates to historical, factual events and returns, and contains general commentary and observations about financial markets, asset classes, and asset allocation. This document, or any part thereof, does not, and is not intended to, constitute investment advice, or financial advice, or financial product advice, in any jurisdiction in which it is published, re-published or read. It does not recommend, encourage, or influence readers to buy, hold, sell, or deal in any financial product or security. Where securities of financial products are mentioned, it is purely for the purposes of illustration, context, and/or education, and not intended to influence anyone to buy, hold, sell, or deal in it. The information is current when written. All reasonable measures are taken to ensure its accuracy at the time of publication, but the author accepts no responsibility or liability for any errors or omissions. This document is only provided to, and intended for, holders of Australian Financial Services Licences. It should not be used or relied upon by any person or entity other than a duly licenced AFSL holder, or authorised representative thereof. The author receives no benefit, financial or otherwise, from any product provider, or product issuer, or any other firm involved directly or indirectly in the provision or services in or to financial markets or industries, whether mentioned in the report or not. Any opinions expressed by the author are his alone, and are intended for the purposes of education.