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Insights

FirstLinks

Stay up-to-date with the latest market commentry and news from industry experts FirstLinks.

Latest insights

The mispriced investment opportunity in global defence

Franklin Templeton’s Kim Catechis says while markets benefitted from peace for 40 years, a military resurgence is now underway, fuelled by geopolitical tensions and technological advancements. As such, defence spending is soaring, offering potential opportunities for investors.
11 December 2024 3 min read

Australian stocks will crush housing over the next decade, one year on

Last year, Morningstar’s James Gruber wrote an article suggesting returns from ASX stocks would trample those from housing over the next decade. One year later, he gives an update on how that forecast is going and what's changed since.
11 December 2024 4 min read

How will stocks fare with a smaller US government?

MFS Investment Management’s Robert Almeida says while less government involvement in the economy and markets is long overdue, investors need to consider what a reduced government role may mean for the profitability of businesses that are unable to offset rising cost pressures.
04 December 2024 3 min read

The US market outlook is more nuanced than it seems

Investors are getting back to business after a tumultuous election year. However, Neuberger Berman’s Joseph Amato says weighing up the fundamentals is complicated by policy crosscurrents that splinter the outlook in several industries.
27 November 2024 3 min read

ASX large cap outlook for 2025

Ausbil Investment Management’s Paul Xiradis says economic growth in Australia looks to have bottomed, which means it makes sense to selectively add to cyclical exposures on the ASX in addition to key thematics like decarbonisation and technological change.
21 November 2024 3 min read

Looking beyond banks for dividend income

The Big Four banks have had an extraordinary run and its left income investors with a conundrum: to stick with them even though they now offer relatively low dividend yields and limited growth prospects or to look elsewhere.
20 November 2024 2 min read

America eats the world

As the S&P 500 rips to new highs, the US now accounts for a staggering two-thirds of the world equity index. Morningstar’s James Gruber looks at how America came to dwarf other markets, and what could change to slow or halt its momentum.
13 November 2024 5 min read

Warren Buffett is preparing for a bear market. Should you?

Berkshire Hathaway's third quarter earnings update reveals Buffett is selling stocks and building record cash reserves. Here's a look at his track record in calling market tops and whether you should follow his lead and dial down risk.
07 November 2024 4 min read

US election implications for investors and Australia

The return of Donald Trump to the US presidency brings the prospect of more US tax cuts and deregulation, but also more tariff hikes, trade wars and policy uncertainty. Here's Dr Shane Oliver’s take on what it means for markets going forward.
07 November 2024 4 min read

Searching for value in tech stocks

Just because a stock is cheap doesn't necessarily make it good value. This uses case studies in the tech sector to help identify when stocks trading on 30x earnings may be inexpensive and when others on 10x may be value traps.
30 October 2024 3 min read

Gold: trustless, rustless, shiny, and tiny

While gold can create divisive views - Buffett called it a valueless pet rock - this assesses its place in portfolios from a supply-demand standpoint and versus currencies. Both angles suggest some exposure to gold is prudent.
25 October 2024 3 min read

A megatrend hiding in plain sight: defence

VanEck says as global defence spending inflects higher, there is a huge opportunity to a group of companies that have already outperformed broader market indices over the long-term.
19 September 2024 4 min read

The tortoise wins in investing

For decades, it's been a truism that taking greater risks with stocks should equate to higher returns. New research casts doubt on that and suggests investing in 'boring' stocks and industries may be a better bet.
01 August 2024 4 min read

Are Australian banks headed for a fall?

Australian bank stocks have had a stellar 12 months, prompting many investors to suggest now would be a good time to sell them. Yet the Big Four remain in a strong position that suggests a more nuanced outlook is needed.
01 August 2024 4 min read

ASX200 ‘handbrake’ means positive investors could miss out

The dominance of mega-cap stocks in the US has led to strong index performance and a new wave of passive investors. But Auscap Asset Management says Australia's markets might not be so suited to this approach.
25 July 2024 3 min read

Don’t compare apples and oranges in private credit

Nehemiah Richardson from Pengana says global and Australian private credit are different and shouldn't be lumped together. As such, investors also need to be wary of more complex and lower quality securities as the asset class grows.
25 July 2024 3 min read

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