Economic Overview As in the previous quarter, the major theme of the June quarter was COVID-19. In contrast to the punishment investors took in the March quarter, the June quarter provided some relief. Investors saw market rallies that partially countered some of the steep falls of the previous quarter. The easing of COVID-19 lockdowns, patchy potential signs of economic recovery, along with unprecedented government stimulus and central bank intervention saw risk appetites return rapidly. In the US, early data confirmed the severe economic impact of lockdown measures. However, weekly claims for unemployment insurance slowed significantly with retail sales rebounding strongly…

When people contact us about property investing it’s usually for one of two reasons. “Can you help me get into property investing?” “Can you help me get out of property investing?” On the first question the answer is always no. The high transaction costs. The lack of diversification. The need to use quite extreme leverage. The hope capital gains will wash away losses on income. New properties that can be loaded with fees. Older properties needing maintenance. Uncertainty on locations and rental returns, even within a booming city. These things don’t sit within an evidence-based investment strategy. The level of…

You may have heard of the one about the broken clock. Look up at the wall. If the hands aren’t moving on your favourite clock it’s not going to give you the correct time. Yet as the hands don’t move, the time does. Every twelve hours the clock will line up with the correct time and strike gold. Stretch it out to 24 hours and your stopped or broken clock is right twice in a day. It’s a useful proverb or phrase if you want to explain away some accidental success or good fortune against the odds. Maybe a unreliable…