Saturday, August 02, 2025
Quarter-century review: Asset class winners & losers, how things change (and how I got through it)!
How things can change, radically and quickly Booms collapse into busts, winners turn into losers, and prior losers arise from the ashes into new booms My personal journey through it all
House prices -v- other Real Assets part 2: Microsoft & US shares
House prices have soared – but that’s mostly just inflation due to continued debasement of paper money. Compared to other 'Real Assets', house prices have fallen in value over time. Case in point: US shares.
The house price myth: Sydney house prices -v- other Real assets part 1: Gold
House prices have soared to astronomical levels in recent years, but have they really? No. Only if you measure them in terms of the increasingly worthless paper money that governments are deliberately debasing. Comopared to other Real Assets, house prices have actually fallen in value! For example: gold. &
Residential Landlords v Tenants: Australia is 'Landlord Heaven, Tenant Hell'
Australia has the fastest rising residential property prices and rents in the world, making it Residential ‘Landlord Heaven, Tenant Hell’. The tide will turn one day, but when?
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Hugh Dive, CFA. Chief Investment Officer, Atlas Funds Management, and frequent expert commentator quoted in the AFR.
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Noel Whittaker, AM – Australia’s best-known personal finance writer, columnist, and media commentator for the past three decades. He has written more than 20 books on personal finance, his regular columns on personal finance are published in almost every major Australian newspaper, and he appears regularly on radio and TV as an expert on finance and investing.
“Ashley’s unique fact-based analyses and insights into Australian and global markets are always worth reading. He has an incredibly deep and comprehensive store of financial markets data.”
Chris Cuffe, AO – One of Australia’s best known and most experienced investment managers – former CEO of industry giants Colonial First State, then Challenger Financial; founder and Chair of Australian Philanthropic Services, and Third Link Growth Fund; current/former chair, director and/or investment committee member of numerous funds including UniSuper, Argo Investments, Hearts and Minds Investments, Paul Ramsay Foundation, and many others.
“Over the past 20 years, Ashley has been an invaluable assistance to me, as a reliable source of unbelievably strong and interesting data, and many good investment ideas.”
"The depth and quality of Ashley’s research and analysis of investment markets is the best in the business.”
Dr Don Stammer - Australia’s most respected economic writer, commentator, and speaker for the past 40 years, with a distinguished career including the Reserve Bank of Australia, Chief Economist at Deutsche Bank Australia for 21 years, chair of nine ASX companies, plus numerous non-listed and not-for-profit boards.
“Ashley is one of the best writers and thinkers on financial markets in Australia. His unique analysis and research is always fact-based and insightful, not the usual uninformed market noise and waffle that infects the mainstream financial media.”
Graham Hand - Editorial Director of Morningstar Australia, including Founder/Managing Editor of FirstLinks, Australia’s leading newsletter and publishing service on wealth management, superannuation, and personal finance.
"I read all of Ashley's research on financial and economic issuess. His data resources, deep knowledge, and original analysis put him in a class of his own."
Ian Macfarlane AC - Former Governor, Reserve Bank of Australia (Australia's central bank), 1996-2006. Former Director, Woolworths, Leighton Holdings, and ANZ Bank. Also on the International Advisory Boards of Goldman Sachs (2007-2016), the China Banking Regulatory Commission (2011-2014), and director of the Lowy Institute for International Policy (2004-2017).