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2021 End of Year Wrap
Read more: 2021 End of Year WrapIt’s that time of year again. We’d once again like to thank all of you for the support and engagement in another challenging year. We assumed we may have been able to break away from Covid this year, but it wasn’t to be the case. It almost seems like 2021 has been an extension of 2020! Thankfully in Tasmania we have had better fortune than most throughout 2021. Freedom from Covid throughout most of the year, along with freedom of movement within the state. We can only hope the newest variant of Covid is less severe, will be blunted by…
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Magellan Challenges Active Adviser Beliefs
Read more: Magellan Challenges Active Adviser BeliefsClick video to listen to story. If you didn’t know, Hamish Douglass is probably Australia’s best known fund manager and is the figurehead of one of the most recognisable funds management businesses in the country: Magellan Financial Group. For years his flagship global fund has outperformed the market based on his convictions. It has afforded him rockstar status, a cult like following with investors, and the ability to get his message almost unfiltered into the media as many of Australia’s finance journalists have acted as stenographers when reporting on his thoughts and comments. Until recently. Magellan’s stellar performance has evaporated…
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What Do You Want To Happen?
Read more: What Do You Want To Happen?The Christmas and New Year period can be chaos. More people out on the roads, airports are packed, stores are crowded, supermarkets are like zoos. Navigating it all can be tiresome and frustrating. At a more micro level, the chaos might be a better chaos that involves spending more time with friends and family. You often hear people say this time of the year is a good time for reflection and to focus on what’s important. They’re not talking about the spending, or the gifts, or the food, but the people. If people are truly the most important thing at…
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Lessons From Transitory Inflation
Read more: Lessons From Transitory InflationToward the end of October, Australia’s bond market received a surprise. For most of the first half of the year the Reserve Bank of Australia had been buying up 3 year dated bonds in an attempt to suppress yields and keep them around the 0.1% level. If bond prices are bid up, the yields fall and vice versa. This had been successful until June, when the RBA suddenly started pulling back from the market and the 3-year yields, which play a role in fixed mortgage rates, moved sharply from the 0.1% to 0.4%. Yields again trended downward until September when…
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Take This Job & …
Read more: Take This Job & …Hamilton, Ontario. It’s August 2021 and Canadian Prime Minister Justin Trudeau rolls into town for an election campaign speciality. Standing with a young couple near an under-construction house to announce a new policy aimed to help young people get into the market. Suddenly, a loud voice from the crowd cuts through the façade of the campaign speech. “You had six years to do something. You’ve done nothing,” a young man shouts. “These houses are worth $1.5 million. Are you going to help us pay $1.5 million? Are you, buddy?” The man is quickly cornered by Trudeau’s supporters and persuaded to…
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