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          <time datetime="2017-12-20T09:46:00+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 20, 2017 09:46</time>
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              Lessons from the crash: property trusts 10 years on
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  ‘Those who do not learn from history are condemned to repeat it’. So said Spanish-American philosopher George Santayana.  This saying has not been lost on the...
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          <time datetime="2017-12-20T09:00:35+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 20, 2017 09:00</time>
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          <time datetime="2017-12-19T18:00:52+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 19, 2017 18:00</time>
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          <time datetime="2017-12-19T15:48:00+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 19, 2017 15:48</time>
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          <time datetime="2017-12-19T13:36:01+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 19, 2017 13:36</time>
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  Today we&#39;ve initiated coverage on Patrys, a Melbourne-based company that may have one of the world&#39;s first cell-penetrating antibodies for the treatment of cancer. ...
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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>Australia’s banks still priced for perfection <span class="whitespace-nowrap"><svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  Markets have ‘baked in’ expectations that interest rates and inflation will stay low for a long time, but Simon Mawhinney, Chief Investment Officer at Allan Gray,...
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          <time datetime="2017-12-19T09:56:32+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 19, 2017 09:56</time>
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  Due to their attractive income, franking credits and relative capital stability, it is easy to see why Australian investors are drawn to Hybrids – with the Australian...
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          <time datetime="2017-12-19T09:03:56+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 19, 2017 09:03</time>
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              NAB’s ESG momentum: a positive
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  Many quants and hedge fund managers are sceptical of the value of ESG (Environmental, Social and Corporate Governance) data. It certainly makes reasonable sense that...
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        Market Partners 
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          <time datetime="2017-12-18T13:16:08+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 18, 2017 13:16</time>
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              ‘Retail apocalypse’ more muted than many people might think 
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  Type relentless.com into a browser and where will you end up? At amazon.com. When Jeff Bezos established Amazon as an online bookseller in 1995 he toyed with calling...
</div>

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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>Montgomery Global’s 4 steps to <span class="whitespace-nowrap">investing<svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  In this short video I discuss Montgomery Global’s four-step investing process by reviewing a core holding in our global portfolios. If you are interested in the...
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              All Ordinaries Index - The last 8 trading days of the Calendar Year is Inordinately Bullish
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  I note that the last 8 trading days of the calendar is inordinately Bullish for the All Ordinaries Index, producing an average gain of 2.19%, with a positive result on...
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          <time datetime="2017-12-18T09:39:08+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 18, 2017 09:39</time>
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              2018 &#39;Predictions and Top Picks&#39;
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  Each year we invite Livewire readers to participate in our &#39;Predictions and Top Picks&#39;. It’s a survey with a difference, giving you the ability to test your views...
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          <time datetime="2017-12-18T08:49:29+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">December 18, 2017 08:49</time>
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              Three key LIC take-outs from 2017 
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  The Listed Investment Company (LIC) sector has been one of the great success stories in recent years, growing at 15% last year to 105 LIC now listed on the Australian...
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      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Mogul Games Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:MGG</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1209">
            Followed by<span class="font-bold text-gray-700"> 54 </span>people
        </div>
          <div 
  class="follow-stock-code-1209-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1209"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="MXT" data-controller="event" data-event-name-value="link_click" data-event-id-value="37541" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/fund/metrics-master-income-trust">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">MXT</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1243" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/fund/metrics-master-income-trust">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Metrics Master Income Trust</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:MXT</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1243">
            Followed by<span class="font-bold text-gray-700"> 93 </span>people
        </div>
          <div 
  class="follow-stock-code-1243-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1243"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="URB" data-controller="event" data-event-name-value="link_click" data-event-id-value="37541" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-urb">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">URB</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="2083" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-urb">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">URB INVESTMENTS LIMITED</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:URB</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-2083">
            Followed by<span class="font-bold text-gray-700"> 4 </span>people
        </div>
          <div 
  class="follow-stock-code-2083-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="2083"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

</div>

        </div>
      <div class="lg:flex lg:items-center clear-both">
        <div class="mt-2 lg:mt-4">
          <div class="flex items-center">
    <div class="mr-2">
        <a data-controller="event" data-event-name-value="link_click" data-event-id-value="146" data-event-statisticable-value="profile" data-event-custom-data-value="{&quot;position&quot;:22600,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" href="/contributors/bell-potter">
            <picture style="">
    <source type="image/webp" srcset="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBWTA9IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--dbd1fc89dddc341676bbe53c3aa2fb0cc152de96/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBPZ2wzWldKd09oTnlaWE5wZW1WZmRHOWZabWxzYkZzSGFRSElhUUhJIiwiZXhwIjpudWxsLCJwdXIiOiJ2YXJpYXRpb24ifX0=--1fd30fd39e489c8cda41fffd3d21b2be931eb227/5ea0f7b35d5927ed940f646e0e78e9611397711997.png" />
  <img
    class="h-10 w-10 rounded-full bg-white overflow-hidden"
    src="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBWTA9IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--dbd1fc89dddc341676bbe53c3aa2fb0cc152de96/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lKYW5CbFp3WTZCa1ZVT2hOeVpYTnBlbVZmZEc5ZlptbHNiRnNIYVFISWFRSEkiLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--a788536266c8d052a67a95e113f2ebbff3ad0a97/5ea0f7b35d5927ed940f646e0e78e9611397711997.png"
    srcset="https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBWTA9IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--dbd1fc89dddc341676bbe53c3aa2fb0cc152de96/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lKYW5CbFp3WTZCa1ZVT2hOeVpYTnBlbVZmZEc5ZlptbHNiRnNIYVFISWFRSEkiLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--a788536266c8d052a67a95e113f2ebbff3ad0a97/5ea0f7b35d5927ed940f646e0e78e9611397711997.png, https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBWTA9IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--dbd1fc89dddc341676bbe53c3aa2fb0cc152de96/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lKYW5CbFp3WTZCa1ZVT2hOeVpYTnBlbVZmZEc5ZlptbHNiRnNIYVFISWFRSEkiLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--a788536266c8d052a67a95e113f2ebbff3ad0a97/5ea0f7b35d5927ed940f646e0e78e9611397711997.png 2x"
    alt="Bell Potter"
    style=""
    loading="lazy">
</picture>
</a>    </div>
  <div id="profile-link" class="text-heavy-sm md:text-heavy-md text-darkestgray">
    <div>
        <span class="profile-name-hover-container" data-controller="event tooltip" data-event-name-value="contributor_hover_view" data-event-id-value="146" data-event-statisticable-value="profile" data-event-custom-data-value="{}" data-event-event-value="mouseover" data-tooltip-url-value="/hotwired/hovercards/146/contributor">
          <a class="hover:underline mr-1" data-controller="event" data-event-name-value="link_click" data-event-view-name-value="summarized_longform_wire_view" data-event-id-value="146" data-event-statisticable-value="profile" data-event-custom-data-value="{&quot;position&quot;:22600,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" href="/contributors/bell-potter">Bell Potter</a>
</span>    </div>
      <div>
        Stockbroker 
      </div>
  </div>
</div>

        </div>
        <div class="hidden lg:block lg:mt-4 mx-4 w-1 h-4 border-l border-gray-300"></div>
        <div class="mt-4 flex items-center text-heavy-sm md:text-heavy-md text-darkestgray">
          <div class="flex items-center mr-4">
            <div id="wire-listing-like-37541" data-load-engagement-count-target="like" data-wire-id="37541" data-position="22600">
                <button
  class="lw-button tertiary_gray xs icon-only "
  
  data-turbo-stream-url-value="/hotwired/likes/37541/wire/22600/like"
  data-controller="
    event 
     
    
    
    turbo-stream 
  "
  data-controller="event turbo-stream " data-event-name-value="like_clicked" data-event-view-name-value="" data-event-id-value="37541" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:22600,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="latest_feed" data-event-ga-action-value="like_clicked" data-event-ga-label-value="" data-turbo-stream-method-value="post"
  
  
  aria-label=home_like
  
  
  
>
  <svg class="home_like">
  <use xlink:href="#home_like"></use>
</svg>

  
  
  
</button>


</div>            <div class="flex items-center ml-1">
              <div id="comment-link-37541" data-load-engagement-count-target="comment" data-wire-id="37541" data-position="22600">
    <a
  class="lw-button tertiary_gray xs icon-only "
  href="/wires/three-key-lic-take-outs-from-2017#comment_body"
  
  data-controller="
    event 
     
    
    
     
  "
  data-controller="event" data-event-name-value="wire_comment_click" data-event-view-name-value="" data-event-id-value="37541" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:22600,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="latest_feed" data-event-ga-action-value="wire_comment_click" data-event-ga-label-value=""
  
  
  aria-label=comment
  
  
  
>
  <svg class="home_comment">
  <use xlink:href="#home_comment"></use>
</svg>

  
  
  
</a>

</div>
            </div>
            <div id="wire-listing-stats-37541" data-load-engagement-count-style-value="listing" data-load-engagement-count-target="stats" data-wire-id="37541" data-position="22600" data-style="listing" data-device-type="desktop"></div>
          </div>
        </div>
      </div>
    </div>
    <div class="flex flex-row-reverse">
        <time datetime="2017-12-18T08:49:29+11:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">December 18, 2017 08:49</time>
    </div>
</div>


      </div>
    </div>
</div>

  </div>
</template></turbo-stream>
  <turbo-stream action="update" target="pagination"><template>
    <a rel="next" href="/hotwired/feeds/latest?cache_prefix=latest_wire&amp;cursor=2017-12-18+08%3A49%3A29+%2B1100&amp;last_position=22600"></a>
</template></turbo-stream>
