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              The Howard Marks guide to overheated stock markets
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  In his latest memo, the legendary Oaktree investor lays out his 6 INVESTCON readiness conditions for handling high valuations. 
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        Livewire Markets
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              The RBA trims the neutral policy rate and lowers potential output, productivity growth, &amp; the NAIRU
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  The RBA has marked down potential growth on slower productivity growth, while trimming the neutral policy rate and lowering the NAIRU.  
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              Trending On Livewire: Weekend Edition - Saturday 16th August
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  ASX hits fresh highs in reporting season as strong results lift markets, rate cuts land and lithium rebounds.
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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>3 changes that helped my super grow <span class="whitespace-nowrap">faster<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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  If you’re in your 20s to 50s, applying these tips could make a meaningful difference to your quality of life in your golden years.
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              A sector’s golden era + 2 growth stocks your AI forgot to mention
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  The growth opportunity being driven by unprecedented increases in power demand from AI and other emerging technologies.  
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        Livewire Markets
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          <time datetime="2025-08-15T16:01:53+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">August 15, 2025 16:01</time>
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          <div class="sm:flex-grow">
            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full max-w-[60%] ">
              FNArena reporting season monitor: August 2025 - Week 2 (52 stocks covered)
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Read on to find the ratings, consensus price targets, and FNArena insights on each stock covered.
</div>

          </div>
</a>      </div>
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  <div id="profile-link" class="text-heavy-sm md:text-heavy-md text-darkestgray">
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</span>    </div>
      <div>
        FNArena
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  </div>
</div>

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          <time datetime="2025-08-15T13:29:16+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">August 15, 2025 13:29</time>
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              What does financial repression mean for the equity market outlook?
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  US inflation is rising, and pressure is on to cut rates. It looks like we are moving back to a world of financial repression in the US.
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        Ascalon Capital
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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>High gold prices + operational excellence = record profit, dividend for Evolution <span class="whitespace-nowrap">Mining<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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  From safety gains to project wins, Evolution Mining’s FY25 delivered on every front — and FY26 aims to do it again.
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              From gold to US markets and AI: What VanEck’s Asia Pac CEO says about the future of investing
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  Arian Neiron has spent 12 years building VanEck&#39;s Asia Pacific business from scratch, with plenty of lessons to unpack. 
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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>“Do not disappoint” – the golden rule driving this reporting <span class="whitespace-nowrap">season<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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  When the ASX 300’s yield hits a 30-year low, Michael Price turns it into opportunity, because his own family’s retirement is on the line.
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              The ex-adviser who says Sydney’s next property boom starts in 2026
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  &quot;Sydney isn’t just expensive. It’s becoming exclusive,&quot; says former Westpac financial adviser Kiril Ruvinsky.
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              Whopping US taxes on Chinese graphite imports put Syrah right back in the game
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  Plus, Kingsland super-sizes its big graphite offering with gallium and titanium; Centaurus’ green and cost credentials support $23m raising.
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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>This global income fund is not afraid to shift gears <span class="whitespace-nowrap">fast<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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  With yields back in a big way, the Allspring Global Income Fund takes an active, sector-specialist approach to global fixed income.
</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>The takeover deal bagging shareholders a 64% <span class="whitespace-nowrap">premium<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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  M&amp;A activity in the global small cap sector is heating up, making it a great time to consider an allocation to the asset class
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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>Inside QBE’s billion dollar profit, dividend and return on equity at decade <span class="whitespace-nowrap">highs<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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        Livewire Markets
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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="2025-08-14T14:55:37+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">August 14, 2025 14:55</time>
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          <div class="sm:flex-grow">
            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full max-w-[60%] ">
              Grinding through 2025
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Key Points:  Economic growth in the US has slowed in the first half of the year, driven by lower household spending. The economy is beginning to feel the effects of...
</div>

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      <div>
        Drummond Capital Partners
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          <time datetime="2025-08-14T12:59:28+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">August 14, 2025 12:59</time>
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  She was bullish on PME at $25 and is still adding, confident there’s plenty of upside left in the trade.
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          <time datetime="2025-08-14T12:56:37+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">August 14, 2025 12:56</time>
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              Telstra: A &quot;great cash machine&quot; in a weak economy
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  The telco giant beat profit expectations but follows other big ASX peers downwards following mixed FY25 results.
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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>How to invest $1 million in 2025 | Mid-year <span class="whitespace-nowrap">update<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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  An update on my SMSF and lifting the lid on private equity with TMS Private Wealth’s Ben Clark.
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  data-controller="event turbo-stream " data-event-name-value="like_clicked" data-event-view-name-value="" data-event-id-value="63404" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:2540,&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-63404" data-load-engagement-count-target="comment" data-wire-id="63404" data-position="2540">
    <a
  class="lw-button tertiary_gray xs icon-only "
  href="/wires/how-to-invest-1-million-in-2025-mid-year-update#comment_body"
  
  data-controller="
    event 
     
    
    
     
  "
  data-controller="event" data-event-name-value="wire_comment_click" data-event-view-name-value="" data-event-id-value="63404" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:2540,&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-63404" data-load-engagement-count-style-value="listing" data-load-engagement-count-target="stats" data-wire-id="63404" data-position="2540" data-style="listing" data-device-type="desktop"></div>
          </div>
        </div>
      </div>
    </div>
    <div class="flex flex-row-reverse">
        <time datetime="2025-08-14T06:00:11+10:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">August 14, 2025 06:00</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=2025-08-14+06%3A00%3A11+%2B1000&amp;last_position=2540"></a>
</template></turbo-stream>
