The legendary investor says we’re in the midst of the third major shift he’s seen in his 50-year career, as a decades-long low-interest-rate environment shifts to something most investors have not yet experienced. It’s a new world in which credit investors – and especially bargain hunters – should thrive.
The sharp spike in complaints, including nearly 54,000 against banking and finance businesses, shows the effects of financial stress from aggressive interest rate hikes and the explosion of scams, the financial ombudsman’s chief said.
The Financial Services Council commissioned the Retirement Income Policy Roadmap to help the superannuation system put greater emphasis on the drawdown phase. Industry leaders say the biggest hurdle is a deeply entrenched fear of running out of money.
Following an increase in income test thresholds, many more Australians are now eligible for the Commonwealth Seniors Health Card and other concession schemes that provide valuable discounts. But many don’t realise they qualify even if they’re too wealthy to receive the Age Pension.
Signs of rising economic optimism in Australia don’t change the narrative on the risk of recession, and chances remain very high for a deep downturn in Australia, according to a new report.
Multi-asset index funds offer the benefits of passive investment strategies with added diversification, says AMP’s Stephen Flegg, but investors should be aware of how a fund manager’s choices and risk profile may affect performance.
Berkshire Hathaway recently added 20.4 million shares of Apple, which now makes up about half its equity holdings. More recent moves suggest Warren Buffett may now be returning to his historical focus on value, via old-school energy investments.
While the firms agreed there’s an opportunity to review the regulatory oversight of consulting firms, they told a Senate inquiry they had no plans to voluntarily break up their businesses, despite claims of inherent conflicts of interest.
Fronting a House economics committee inquiry into competition in the banking industry, the heads of CBA, ANZ, Westpac and NAB insisted they weren’t unfairly setting interest rates and that competition and customer engagement in the sector have never been stronger.
Speculation over Lowe’s future as the RBA chief had been swirling for months amidst fallout over interest rate decisions. Bullock, the current deputy governor, will become the first female leader of the central bank.
