Thursday, September 19, 2024

Sept 2023

1-10 out of 10 results.
Australian shares Investment & Wealth MgmtAsset allocation, portfolio construction
‘Frankly my dear . . . we need to include Franking Credits in reporting and portfolio planning’

Franking credits on dividends on Australian shares can add more than 1% per year to returns for Australian shareholders. But many professionals don’t include the value of franking credits in their clients’ returns – either historical, or forecast.

Ashley Owen Sep 26, 2023
Investment bubbles/busts, cyclesInvestment & Wealth MgmtManaged funds
Warren Buffett: world’s greatest investor, but even he lost it 20 years ago.

Many readers wanted me to back up by bold claim that even the best investor in the world – Warren Buffet – suffered from the same disease that plagues every other successful fund manager in the world - fading out-performance over time.

Ashley Owen Sep 24, 2023
Asset allocation, portfolio constructionInvestment & Wealth MgmtManaged funds
Few active fund managers add value. But even value-adding managers almost always fade over time.

Many active fund managers start out well, but they all peak early in their careers, and then it is all downhill from there. Even for the best in the world.   Here are 20 actual fund examples, plus 15 reasons for inevitable fund performance fade (the causes are different for every fund), and how to spot them in time.

Ashley Owen Sep 21, 2023
Asset allocation, portfolio constructionInvestment & Wealth MgmtManaged funds
Most active fund managers continue to destroy value and line their pockets with your money

Over the year to June 2023, active managed funds in Australia destroyed $4.5 billion in wealth from retail investors. Half of this was a straight transfer of wealth from the pockets of innocent investors to the pockets of fund managers. The other half was genuine wealth destruction through incompetence.

Ashley Owen Sep 18, 2023
Australian economyCommodities & MiningChinaExports, trade
China builds another ‘Sydney CBD’ every 3 days – with our rocks!

Property construction has been the largest component of China’s incredible economic growth this century, and also the largest contributor to Australia’s export revenues, government tax receipts, corporate profits, and national wealth.

Ashley Owen Sep 15, 2023
Population, demographics, immigrationAustralian economyWealth, Inequality
Where are You on the Income Tax Pyramid? 42% of adults pay no tax!

It’s tax return time in Australia. As we fill in our tax returns and pay our taxes, we often wonder – Am I paying too much tax? Am I paying my ‘fair share?’ What is a ‘fair share’, anyway?

Ashley Owen Sep 11, 2023
Asset classes, asset class returnsAsset allocation, portfolio construction
Aussie retirement funds have highest ‘growth/defensive’ asset mix in the world. Is this higher risk?

What is the best or ideal asset allocation for long term investment funds, including retirement/pension funds?

Ashley Owen Sep 08, 2023
Stock stories
Qantas – My adventure with the over-geared, over-protected, cash-less bird!

This is the story of my adventure with Qantas shares – and proof that the ‘Bigger Fool’ theory works! Media headlines writers are having a field day with all the recent dramas surrounding Qantas.

Ashley Owen Sep 06, 2023
InflationEconomics
"Sticky Inflation", Productivity, Housing, Commodities boom/bust + "What's keeping the AUD down?"

Here is our quick snapshot of Australian and US share markets, short-term interest rates, bond yields, and the AUD

Ashley Owen Sep 04, 2023
Stock market crashesInvestment bubbles/busts, cyclesAustralian shares Recessions
ASX reporting season in 4 charts - $40b wiped off profits! - where did it go, and why?

August is the main full-year reporting season for Australian listed companies, as most companies have June reporting years. For ASX100 companies that reported their June full-year results in August, total profits fell by one third from $116b to $76b.

Ashley Owen Sep 01, 2023

‘For many years, Ashley has been my go-to source of information and analysis on what’s going on in financial markets and why.’

“Ashley has an encyclopaedic knowledge of the markets – I call him Mr Google!”

Noel Whittaker, AM – Australia’s best-known personal finance writer, columnist, and media commentator for the past three decades. He has written more than 20 books on personal finance, his columns appear in almost every major Australian newspaper, and he appears regularly on radio and TV as an expert on finance and investing. Noel Whittaker AM

“Over the past 20 years, Ashley has been an invaluable assistance to me, as a reliable source of unbelievably strong and interesting data, and many good investment ideas.”

"The depth and quality of Ashley’s research and analysis of investment markets is the best in the business.”

Dr Don Stammer - Australia’s most respected economic writer, commentator, and speaker for the past 40 years, with a distinguished career including the Reserve Bank of Australia, Chief Economist at Deutsche Bank Australia for 21 years, chair of nine ASX companies, plus numerous non-listed and not-for-profit boards. Read more

“What sets Ashley Owen’s analysis apart from investment banks and the financial press is his deep fact-based understanding of long-term financial data, rather than getting caught up on the daily noise over issues that may generate trades or sell newspapers today, but will be irrelevant and misleading two years from now.” 

Hugh Dive, CFA. Chief Investment Officer, Atlas Funds Management, and frequent expert commentator quoted in the AFR.

 

“Ashley’s unique fact-based analyses and insights into Australian and global markets are always worth reading. He has an incredibly deep and comprehensive store of financial markets data.”

Chris Cuffe, AO – One of Australia’s best known and most experienced investment managers – former CEO of industry giants Colonial First State, then Challenger Financial; founder and Chair of Australian Philanthropic Services, and Third Link Growth Fund; current/former chair, director and/or investment committee member of numerous funds including UniSuper, Argo Investments, Hearts and Minds Investments, Paul Ramsay Foundation, and many others. Read more.

 

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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.