Issue: Friday 29 May 2020 This week the Prime Minister told Australia he wants to "fire the starters' gun on the economy" in a speech outlining his vision for recovery. While boasting of the fact Australia is "weathering the storm better than many and better than most", he lamented the fact "millions of Australians" are now relying on a recovery. A recovery that is for now, fuelled by government support. The worst does seem to be over. Road traffic [...]
We hope this note finds you and your family safe and well despite these being the strangest of times. As a community, we are all doing our best to adapt to the difficulties that face us at present. It is confronting. It is challenging. It is unsettling to say the least. But we are learning to appreciate the simple things, discovering new skills and for many working out what is truly important. Here at FinSec, we have settled into [...]
24th March - SA Leaders Q&A session with Andrew Creaser "People are worried about their investments, and emotions are running high but what we do have is control over how we respond. The best financial advice in the wake of COVID-19? Don’t panic. How do you make informed decisions? What are the opportunities?"
By now you have all probably seen the news on the spike in reported cases outside of China. The coronavirus disease is apparently communicable even by those who are not showing signs of having it, which is making it harder to control. The number of new infections in Wuhan/Hubei and the rest of China are falling sharply (latest new infection rate was 630 in Hubei and 20 in the rest of China). However, markets are reacting to the jump [...]
As we seem to say every year... Where has the last 12 months gone?! It is December once again and we are only a few short weeks away from celebrating a new year. As is customary of the season, we have prepared our FinSec reflections; a look at some of the stories that have shaped our year in 2019. The year of the banks 2019 started with the banks in the headlines and looks set to end the same [...]
When the math adds up, the numbers never lie. They're infallible, concrete, impossible to argue with -- however you want to spin it… It turns out that even innocent statistics can be twisted to support any nefarious thing you want to prove. The charts below show the exact same data, however the Y axis has been manipulated to downplay or emphasise weakness in the AUD since last year. Is it more dangerous to drive in NSW or the Northern [...]
It is a story that has made news headlines the world over. A story about culture and greed impairing the judgement of people who should have known better. While both sides of politics have been very vocal in the wake of Hayne’s interim report, no one has touched the vexed question of how did we end up here? The impact on the victims has been devastating. The behaviour of the financial services community despicable and unforgivable. The viewing has been [...]
Reverberations will continue to be felt across the mahogany boardrooms and expansive top-floor executives suites of Australia’s admonished banking and financial services giants, as the royal commission claims more scalps while others jump the proverbial ship. The revelations exposed by the royal commission have been nothing short of appalling. As members of the profession – and as people who are proud to call themselves financial advisers – We find it jarring and disappointing that these are the circumstances in which the [...]
After an exceptionally strong year in markets, volatility has struck back in recent days. At the time of this writing, the S&P 500® Index has fallen roughly 10% from its record close on Jan 26.1 The Australian equity market has seen falls of smaller magnitude, given it did not participate to the upside through most of 2017 and January of this year. Nevertheless, the age-old adage of the US sneezing remains, and sustained volatility in the US is likely to weigh on our [...]
Three years ago Bitcoin was $250AUD. With a 10,000% increase in price since then, it is starting to generate significant buzz with the everyday investor, as is the underlying technology driving it, “blockchain”. But what are digital currencies and should you be investing in them? We asked renowned technologist and futurist, Mark Pesce to take us on the bitcoin / blockchain journey. “Never invest in a business you don’t understand.” A simple bit of advice from the Sage of Omaha, Warren [...]