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Hourglass

The universal reward of time and patience

In Leo Tolstoy’s great novel ‘War and Peace,’ a Russian general charged with defeating Napoleon and expelling the French from Russian soil argued against rushing into battle, saying the strongest of all warriors were “time and patience.”

Road and Clouds

Royal Commission – Asleep at the Wheel?

With the Banking Royal Commission in full swing, the spotlight is squarely on financial services regulators. Future Fund chairman and former federal treasurer, Peter Costello, stated it plainly: “The next step of the royal commission is to actually find out why the regulatory agencies weren’t awake and at the wheel.1“

AUD-Stretch

Banks should exit the Financial Planning business

What an extraordinary week at the Banking Royal Commission. AMP’s reputation has been shredded when the head of advice Jack Regan admitted that the financial services giant blatantly lied to ASIC 20 times and that they continued to charge advice fees for orphaned clients. Then it was CBA’s turn when the commissioner accused them of being the “Gold Medalist” of taking fees for no service. I could go on, however, I am sure most of you are following the story. No wonder the general public have reduced faith in the financial planning industry.

Painting coal gold

Chasing Alpha: Fools Gold!

As an investor you are constantly inundated with information: Where is the market heading, top 5 buys, top 5 sells etc. This clamour will increase in pitch as we approach the end of the year with predictions for which way the market is headed next year, it will roll in to it elections, status of large projects, weather predictions etc. and yet somehow there will still be several unanticipated events – some government falling, attack or sanction by the UN / USA and everything will be abuzz and different to the predictions anyway. This will all be exciting and exhilarating stuff, calling out to all investors to keep watching the latest updates. We have been saying for many years, it makes sense for the media to turn finance and investing into entertainment, to get more eyeballs and therefore advertising big bucks for them. Clearly, it is a self-serving purpose and they are not really doing you any favour.