I have an aversion to the mainstream media since I regard it to be simplistic fodder for the masses designed to do little more than maintain a never ending cycle of anxiety based upon a distorted version of reality. It wilfully ignores the small battles people undertake everyday to make the world a tiny bit…
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Public hearings for the Financial Services Royal Commission, which resumed this week, are bringing to light some questionable practices in the sector – from lending beyond people’s means, to giving the wrong financial advice and charging for advice that was never given. Unaffordable home loans, poor financial advice and unmanageable consumer credit may have serious consequences for many Australians, beyond…
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Always been a fan of Hugh simply because he was different….. Hugh Hendry is a rare breed: a retired hedge fund manager who has actually retired. Lately, the former manager of the Eclectica Fund, a London-based global macro outfit he ran for 15 years until shuttering it last year, spends his days unsubscribing from finance-related…
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Just a quick example for people who are keen on hedging or risk reduction. Hedging or risk reduction in any form acts as a drag on performance – this is a side effect of what it is designed to do. The chart below is a performance comparison between GOLD and unhedged local gold ETF and…
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I have just returned from a few days on Hamilton Island and whilst standing around waiting to board the flight home I was talking to an American mother and daughter who coincidentally had also sat across the aisle from me on the flight up. I asked them where they were going next and after a…
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The following quote is from an excellent long form article on the opioid crisis in the US. Nevertheless, pain research remains startlingly underfunded and undervalued. In American medical schools, the average number of teaching hours on pain is nine; in the average veterinarian curriculum, it’s forty-five. More here – Harpers Magazine
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At the end of a two-day investment conference sponsored by Dimensional Fund Advisors in Los Angeles last month, I couldn’t stop squirming. The final workshop included a slide show highlighting articles from major business publications across the country conveying a range of dire investment messages. Some spouted warnings of impending market calamity. Others urged investors…
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Whilst I am on the topic of correlations and returns Yahoo Finance does offer the capacity via their charting program to compare various instruments and get a sense of their relative returns. In the chart below I have compared the AUD/USD to SPDR Gold Trust ETF and GOLD a local gold ETF. You can make up…
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