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            <a class="pre-header-sm lg:pre-header-md uppercase text-primary hover:underline" href="/categories/macro">Macro</a>

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          <time datetime="2020-10-20T10:00:22+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">October 20, 2020 10:00</time>
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              3 places to invest as interest rates head south
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  With interest rates heading to zero, keeping your money in the bank has become a poor way to increase – or even preserve – your wealth. A better strategy, I believe,...
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        Montgomery Investment Management
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          <time datetime="2020-10-20T07:17:07+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">October 20, 2020 07:17</time>
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            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full ">
              How to avoid the equity market disaster zone
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Investing in ‘ten-baggers’, much loved by Peter Lynch, is easy to say but hard to do. We prefer to start by avoiding the losers, the bottom 20%. I show in this wire...
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      <div>
        Aoris Investment Management
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          <time datetime="2020-10-20T06:45:10+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">October 20, 2020 06:45</time>
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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>Consumers will continue to defy <span class="whitespace-nowrap">doomsayers<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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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  The Covid-19 crisis has brought with it many predictions about the demise of the Australian consumer. But time and time again since the pandemic began, the reality has...
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  <div class="flex items-center gap-2">
    <span class="text-bold-md">A2M</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="1994" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-a2m">
      <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 ">The a2 Milk Company Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:A2M</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-1994">
            Followed by<span class="font-bold text-gray-700"> 4007 </span>people
        </div>
          <div 
  class="follow-stock-code-1994-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1994"
  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="ALD" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-ald">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">ALD</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="2595" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-ald">
      <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 ">Ampol Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:ALD</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-2595">
            Followed by<span class="font-bold text-gray-700"> 655 </span>people
        </div>
          <div 
  class="follow-stock-code-2595-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="2595"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
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</div>

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

    <div data-controller="tooltip">
  <a aria-label="AZJ" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-azj">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">AZJ</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="208" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-azj">
      <div class="p-4 flex group">
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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Aurizon Holdings Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:AZJ</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-208">
            Followed by<span class="font-bold text-gray-700"> 380 </span>people
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          <div 
  class="follow-stock-code-208-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="208"
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  </div>
</div>

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

    <a class="px-1 py-0.5 text-bold-md text-nav-item" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/wires/consumers-will-continue-to-defy-doomsayers">
      +13
</a></div>

        </div>
        <div class="pt-4 pb-4 lg:pb-2 hidden sm:block">
          <div class="flex gap-2">
    <div data-controller="tooltip">
  <a aria-label="A2M" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-a2m">
    <div
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>
  <div class="flex items-center gap-2">
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</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="1994" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-a2m">
      <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 ">The a2 Milk Company Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:A2M</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
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            Followed by<span class="font-bold text-gray-700"> 4007 </span>people
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          <div 
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  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
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    <div class="h-0 w-full flex justify-center">
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  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="ALD" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-ald">
    <div
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>
  <div class="flex items-center gap-2">
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</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Ampol Ltd</div>
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</a>    <div class="px-4 mt-0.5">
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  data-followable-type="stock_code"
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  <div class="flex items-center gap-2">
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</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="208" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-azj">
      <div class="p-4 flex group">
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          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Aurizon Holdings Ltd</div>
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</a>    <div class="px-4 mt-0.5">
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          <div 
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  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
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  </div>
</div>

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

    <div data-controller="tooltip">
  <a aria-label="CHC" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-chc">
    <div
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>
  <div class="flex items-center gap-2">
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</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="475" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-chc">
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</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
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  data-followable-type="stock_code"
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      </div>
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  </div>
</div>

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

    <div data-controller="tooltip">
  <a aria-label="COL" data-controller="event" data-event-name-value="link_click" data-event-id-value="45988" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-col">
    <div
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  <div class="flex items-center gap-2">
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</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="513" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-col">
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</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
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      +11
</a></div>

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        Airlie Funds Management
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  High inflation seems to be a topic befitting of an ancient economics history syllabus. It’s hard to remember when sustainably rising consumer prices were an issue....
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  Local market started positive with global investors chasing AUDUSD higher for the first two hours and then faded slightly to finish a positive day on weak volume. The...
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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>What we can learn from G8 <span class="whitespace-nowrap">Education<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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  COVID-19 has wreaked havoc on all our lives and parents in particular have found it challenging. With childcare centres shutting early in the piece, parents were not...
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              Our approach to maintaining durable income
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  The new environment of zero rates and higher credit market volatility calls for a new approach to durable income investing—one that can go anywhere, but remains...
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          <time datetime="2020-10-19T13:23:18+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">October 19, 2020 13:23</time>
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              This bricks and mortar retailer will continue to thrive post-pandemic
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  As the pandemic accelerates the shift to online shopping, investors have favoured those retailers with superior e-commerce capabilities as the winners in a...
</div>

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</span>    </div>
      <div>
        Claremont Global
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          <time datetime="2020-10-19T12:27:21+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">October 19, 2020 12:27</time>
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          <div class="sm:flex-grow">
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              Actively managed small caps are a core portfolio holding
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  We have chosen the 5-year anniversary of the Flinders Emerging Companies Fund to review the performance of active managers in the Australian Small Cap sector.  It is...
</div>

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      <div>
        Flinders Investment Partners
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              Aussie pharma stocks running long race to a COVID cure
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  Picture 8,000 Boeing 747s crammed with glass vials and syringes – no, it isn’t a novel solution to airlines’ COVID woes, but a stark illustration of the logistical...
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  Finding yield isn’t the problem for investors – even in these tough times. Identifying sustainable sources is the nub of the problem, says Elanor Investors Group’s...
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              Assessing Australians&#39; income options
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  With the COVID-19 pandemic continuing to disrupt economies and markets, investors are in uncharted territory, but the traditional benefits of a broad opportunity set...
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        PIMCO
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  Sitting on the desk of Reserve Bank of Australia Governor Philip Lowe most days when he arrives at work are letters from the public. Many are from retirees who have...
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        Magellan Investment Partners
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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>Two good reasons to consider going short in Aussie <span class="whitespace-nowrap">equities<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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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  The Australian market is uniquely concentrated. The top end of the index is dominated by a few big companies, and that’s supported by a long tail of small positions....
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              The leveraged loan market has gone feral
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  The US leveraged loan market has had a tough year but the pain is set to continue for years to come. At the start of the year margins were low and competition for...
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          <time datetime="2020-10-17T07:45:12+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">October 17, 2020 07:45</time>
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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>The disastrous Economics of Climate Change, with Prof. Steve Keen | Webinar &amp; <span class="whitespace-nowrap">Podcast<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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  On the agenda today: • prof. Keen&#39;s recent work on the appallingly bad neoclassical economics of climate change, in which he contends numerous errors have been made in...
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