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Daniel Kahneman found wealthy people were rarely happier than those with lower incomes, challenging the idea that money buys happiness.

Author Daniel Kahneman, who exposed investors’ irrationality, dies

The psychologist’s work casting doubt on the logic of decision-making helped spawn the field of behavioral economics and won him a Nobel Prize.

  • Stephen Miller
Year after year, relatively few active fund managers outperform passive managers.f

Stock pickers at near record levels of underperformance

More than 75 per cent of all Australian large-cap equity fund managers underperformed the ASX200 benchmark for 2023.

  • Ben Smythe

Where to invest $1 million

We asked 11 experts where they would invest $1 million to earn serious returns; then we asked them to nominate an indulgence spend.

  • Lucy Dean, Joanna Mather and Tom Richardson

The tax implications of contributing business sale proceeds into super

The tax-related issues depend on the circumstances involved. In complex cases, one might need to engage an accountant, a solicitor and a financial planner.

  • John Wasiliev

Inside the Queensland family office making 15pc

Meet a mango farmer managing billions who will back anything except private equity.

  • Tom Richardson

Two ETFs for investors looking to tap bargains in China recovery

There is no telling if the Chinese sharemarket crash is over, but smart investors know that in carnage can lie opportunity.

  • James Weir

Wealthiest Australians

The Bonython is full of lush tropical plants.

Singo sells famed Paddington complex for more than $30m

Annie Todd, the estranged wife of Atlassian billionaire Mike Cannon-Brookes, will take ownership of The Bonython office complex in Paddington.

  • Larry Schlesinger and Bonnie Campbell
Sigma Healthcare boss Vikesh Ramsunder and Mario Verrocchi of Chemist Warehouse.

Chemist Warehouse sales, profit surge ahead of ASX debut

Regulatory approval from the ACCC stands in the way of a combined Chemist Warehouse and Sigma, which have revealed robust financials before their merger.

  • Updated
  • Carrie LaFrenz and Jemima Whyte
Clive Palmer’s private company Mineralogy reaped $447 million in mining royalties last year.

Clive Palmer reaps $447m in royalties from Chinese adversaries

Rich Lister Clive Palmer says he is confident of success with massive damages claim against the federal and WA governments, and will stand his ground in a separate legal dispute with one of China’s biggest conglomerates.

  • Updated
  • Brad Thompson
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This Month

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The most ‘dangerous’ phrase in inheritance planning

“To be shared equally between my children” sounds simple, yet it’s anything but.

  • Penny Pryor
How I would fix Australia's productivity challenges: Comyn
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How I would fix Australia's productivity challenges: Comyn

CBA CEO Matt Comyn freestyles some ideas to change political terms and reform tax to turbocharge Australia's productivity.

  • Updated
Reddit has made its Wall St debut.

Should you invest in Reddit after 48pc ‘pop’?

The issue for individual investors is returns like this don’t always last.

  • Charlie Wells
Financial strategies involving trusts which merely result in the payment of less tax are not evidence, on their own, of a dominant purpose of tax avoidance, the court found.

$60 billion in trust payments under cloud following ATO court loss

The court warned the ATO cannot dictate to taxpayers how they should arrange their affairs.

  • Duncan Hughes
Companies, superannuation funds, and family discretionary trusts have various pros and cons.

High-income earners turn to investment companies

Superannuation is no longer the “go to” tax-effective investment vehicle.

  • Michael Hutton
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Maria Lykouras, CEO of JBWere.

Women overwhelming winners in $5trn Baby Boomer wealth transfer

Women will receive 65 per cent of the nearly $5 trillion due to pass from Baby Boomers and their parents to the next generation in the next decade, a new report finds.

  • Lucy Dean
Violette Snow near her home in Tasmania.

What to do with a big inheritance

Around $10 billion worth of shares, cash and property is bequeathed every month in Australia. Experts weight in on how to manage a windfall.

  • Duncan Hughes
The Fed has allowed core inflation to grow at a pace significantly above its 2 per cent goal for three consecutive years.

Central banks may be repeating their pandemic errors

Central banks delayed rate increases after the pandemic on the basis they could not forecast the future, but now use rubbery projections to rationalise rate cuts.

  • Updated
  • Christopher Joye
Risk sits at the heart of financial markets but trying to pin it down can be maddening.

How investors get risk wrong

Contrary to popular wisdom, more volatile stocks do not outperform.

David Swensen in 2005. He reduced Yale’s investments in shares in favour of illiquid assets.

Want better returns? Cut back on shares, bonds

University endowments and the Future Fund indicate that long-term bets on private equity and other unlisted assets produce better returns.

  • Jonathan Kearns
It’s worth adding that the ATO recommends using an independent valuer when the valuation is complex,

Be careful with property valuations this SMSF audit season

Property valuations are becoming more problematic and will attract the attention of the Tax Office.

  • Peter Burgess
A question of super.

Why super isn’t supposed to make you super rich

There were opportunities in the past to make exceptionally large contributions to tax-advantaged super accounts, but those days are over.

  • John Wasiliev
The average amount spent on an engagement ring is $6000.

How much should I spend on an engagement ring?

In a stroke of 1930s marketing genius, De Beers convinced men they needed to spend at least a month’s salary on a diamond engagement ring. But is that really a good rule of thumb?

  • Penny Wise
it is only once you get to see the full set of numbers that an informed decision to buy, hold or sell can be made.

Four companies that surprised with ‘cracker’ results

Some stocks disappoint initially, but look great after a full set of numbers is revealed.

  • Elio D'Amato
AFR

Retirees face income hit as cost of living soars

A pandemic-era freeze on deeming rates is about to come to an end. Here’s what that means for pensioners.

  • Updated
  • Duncan Hughes
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Scammers are targeting wealthy Australians.

CEO tells how he almost transferred $25m to scammers

Scammers use LinkedIn to find wealthy individuals and C-Suite executives before pouncing when they are at their most vulnerable, like after an overseas trip.

  • Lucy Dean
The ACCC will scrutinise supermarket conduct.

Supermarket wars will throw up bargains for investors

As the noise from the various inquiries reaches fever pitch, investors may be presented with opportunities to buy shares in good quality supermarket businesses for a discounted price.

  • Mark Draper
Investors will start looking to allocate more funds to commercial property, although they remain wary of office towers.

‘Narrow window’ to snap up commercial property bargains

With institutional capital still watching on the sidelines, smaller investors have the chance to pick up quality assets at discounts as high as 30 per cent.

  • Sam Tamblyn
Allan Myers has quit the Melbourne Club, and not gone quietly.

Allan Myers quits Melbourne Club over racism claim

Despite so much in common, Allan Myers and the Melbourne Club have parted ways. And not amicably.

  • Myriam Robin
Markets like inflation have been slayed, belligerently seeking to ignore mounting evidence that signals otherwise.

Inflation risks unravelling the rally

While the “everything” rally has excited risk junkies, inflation might spoil the party again.

  • Updated
  • Christopher Joye