US credit markets have delivered strong returns this year. Companies have been issuing record amounts of debt, borrowing costs have remained manageable and bond investors have pocketed solid gains. It’s been a golden run. However, in recent weeks cracks have appeared beneath the surface, and the pace at which the problems have emerged is worth…

In our second note on the realities of investing we turn our attention to cash. Cash feels safe. It’s familiar, stable, and seemingly risk-free. But over the long term, relying solely on cash can be one of the riskiest strategies for investors. True safety comes not from avoiding risk, but from balancing cash with growth…

In recent weeks and months, the NZ dollar has weakened against most trading partners. It’s doing exactly what you’d expect it to against a challenging economic backdrop, and whether this is good or bad depends on your perspective. The NZ dollar is down six per cent against the US dollar since the beginning of July,…

It’s been a fantastic run for the US sharemarket. The S&P 500 index is up 18 per cent in the past 12 months, and 83 per cent over three years. Even Federal Reserve Chair Jerome Powell has commented on this, noting that “equity prices are fairly highly valued” during a recent speech. To be fair,…

The first three quarters of the calendar year are behind us, and investors have again been well rewarded for ignoring the noise and staying the course. It’s been a cracking period for investors, despite the volatility. World shares fell 16.3 per cent in the wake of President Trump’s tariff announcements in April. This was an…

The latest quarterly investor confidence survey from ASB has got a lot of attention in recent days, with media reports noting that optimism was at its lowest ebb since the pandemic. This survey covered the June quarter, and the ASB team pointed out that concerns were very high around April, near the beginning of the…

Gold continues to be a topic of conversation across financial markets, with the precious metal rising almost 40 per cent so far in 2025 and hitting fresh record highs. It’s doubled in value the last three years and even outpaced the mighty S&P 500 index in the US. That’s no small feat, with the US…

Typically, when I write about making the most of compounding, I talk about the power of compounding for someone starting at a young age. But what if you didn’t start young? What if you’re only now looking at investing at age 50, 55, or even 60? Is it too late to begin? The simple answer…

There’s hope emerging that our economy is turning a corner. Is that possible with so much bad news still around? As always, whether your glass is half-full or half-empty depends on where you’re looking and what you’re paying most attention to. If you prefer to listen to a podcast episode on this topic:  It’s also…

New Zealand‘s long awaited economic recovery has been delayed, rather than cancelled. A more prosperous period is likely ahead, although we do need to exercise some patience. The Reserve Bank not only cut the Official Cash Rate (OCR) last month, but it slashed its forecasts for where it goes from here. If you prefer to…