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              Boom and bust in developed markets
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  A look at the long-term trends/cycles and the current valuation divide within Developed Market equities. 
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        Topdown Charts
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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%] ">
              Why valuations don’t drive stocks
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Fisher Investments Australia reviews why focusing on valuations may lead you astray
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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>5 international markets on fire - and the ASX ETFs to play <span class="whitespace-nowrap">them<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">
  Global equities are on fire: a sector up 118%, a country ETF up 43%. Here are the markets investors can’t afford to ignore.
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          <div class="sm:flex-grow">
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              Which big shorts are getting bigger?
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  Which ASX stocks are being bet against the most, and which ones are starting to see short sellers go away?
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      +7
</a></div>

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            <h2 class="mt-2 headline-md lg:headline-xl lg:group-hover:underline sm:max-w-full max-w-[60%] ">
              4 ASX stocks in the P/E Red Zone
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  How stocks can end up thousands of percent above their P/E averages and what this tells us about the ever-popular valuation metric. 
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              A look under the hood of VanEck’s new growth ETF
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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>Doug Tynan: Real estate, rolexes, and returns - how the ultra-wealthy think <span class="whitespace-nowrap">differently<svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" id="embed_podcast" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  From psychology to process, Doug Tynan reveals why discipline drives investing success and where luxury, AI, and durability meet.
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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>Buy Hold Sell: 4 ASX stocks for playing defence (and 1 to leave on the <span class="whitespace-nowrap">bench)<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 at record highs call for smart defence. Tim Riordan and Brenton Saunders share their picks to keep your portfolio in the game.
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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>VSG&#39;s Global Multi-Strategy Fund: Building a multi-generational portfolio with an operator&#39;s <span class="whitespace-nowrap">mindset<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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  A high bar for equities: inside the Global Multi-Strategy Fund’s unique operator-led approach to compounding capital for the long term.
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        Livewire Markets
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          <time datetime="2025-09-29T10:19:03+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">September 29, 2025 10:19</time>
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              Why US tech still beats China’s dragons
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  On the surface, Chinese world-class companies are trading at a fraction of US prices. But their cheapness rarely comes without cause.
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              Auscap’s case for active investing and where they’re finding value
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  There are times where passive investing works but, according to Auscap, the current breakdown of the Australian market isn’t it.
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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>Aussie large-cap valuations? &quot;They&#39;re <span class="whitespace-nowrap">nuts&quot;<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 valuation multiples of Aussie large caps similar to Nvidia, Allan Gray&#39;s, Simon Mawhinney, is looking for value elsewhere.
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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>A look inside the portfolios of Australia&#39;s leading <span class="whitespace-nowrap">investors<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 private credit to gold, discover where Soul Patts’ Todd Barlow and Regal’s Phil King see the biggest returns.
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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>Schroders: 5 growth stocks being under-appreciated by the <span class="whitespace-nowrap">market<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">
  Idiosyncratic stock ideas, not mega-themes, sit at the core of Schroders’ concentrated strategy.
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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>Buffett’s favourite advantage is <span class="whitespace-nowrap">dead<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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  At Livewire Live 2025, Macquarie Capital&#39;s Viktor Shvets put a torch to conventional thinking about markets and economic moats.
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              Media worth consuming – September 2025
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  Interesting and under the radar media on finance, economics, politics and society.
</div>

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        Narrow Road Capital
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</div>

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          <time datetime="2025-09-27T06:00:04+10:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">September 27, 2025 06:00</time>
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          <div class="sm:flex-grow">
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              5 steps to build a smarter ETF portfolio (plus 6 funds I like)
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  With 400+ ETFs on offer, choice overload is real. Here, I share a simple framework to help you pick  products that pull their weight.
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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%] ">
              Five risks for 2026
            </h2>
            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  What should you be looking out for as 2025 hits its final quarter? I share five risks that investors should consider as we approach 2026. 
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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>Managed accounts explained - what investors need to <span class="whitespace-nowrap">know<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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  Leveraging scale, MLC’s managed accounts cut costs for investors while offering access, diversification, and institutional-grade solutions.
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        <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-63822" data-load-engagement-count-target="like" data-wire-id="63822" data-position="2100">
                <button
  class="lw-button tertiary_gray xs icon-only "
  
  data-turbo-stream-url-value="/hotwired/likes/63822/wire/2100/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="63822" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:2100,&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-63822" data-load-engagement-count-target="comment" data-wire-id="63822" data-position="2100">
    <a
  class="lw-button tertiary_gray xs icon-only "
  href="/wires/managed-accounts-explained-what-investors-need-to-know#comment_body"
  
  data-controller="
    event 
     
    
    
     
  "
  data-controller="event" data-event-name-value="wire_comment_click" data-event-view-name-value="" data-event-id-value="63822" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:2100,&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-63822" data-load-engagement-count-style-value="listing" data-load-engagement-count-target="stats" data-wire-id="63822" data-position="2100" data-style="listing" data-device-type="desktop"></div>
          </div>
        </div>
      </div>
    </div>
    <div class="flex flex-row-reverse">
        <time datetime="2025-09-26T12:15:28+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">September 26, 2025 12:15</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=2025-09-26+12%3A15%3A28+%2B1000&amp;last_position=2100"></a>
</template></turbo-stream>
