DFA Live Q&A HD Replay: Investing Now With Damien Klassen

This is an edited version of a live discussion with Head of Investments at Nucleus Wealth and Walk The World Funds, Damien Klassen. Where are the markets heading, and what are the chances there will be a policy mistake as rates are taken higher?

You can ask a question live.

Go to the Walk The World Universe at https://walktheworld.com.au/

DFA Live Q&A HD Replay Investing Now With Damien Klassen

This is an edited version of a live discussion about the financial markets with Damien Klassen, Head of Investments at Nucleus Wealth and Walk The World Funds.

We discussed the recent rises in the markets, and whether they are sustainable, policy errors, China, property prices, crypto and investing strategy.

Go to the Walk The World Universe at https://walktheworld.com.au/

FINAL REMINDER: DFA Live 8pm Sydney Tonight: Investing Now With Damien Klassen

Join me for a live discussion about the financial markets with Damien Klassen, Head of Investments at Nucleus Wealth and Walk The World Funds.

You can ask a question live!

Go to the Walk The World Universe at https://walktheworld.com.au/

FINAL REMINDER: DFA Live Financial System On The Edge With Robbie Barwick AND John Adams 8 PM Sydney Tonight!

Join me for a live discussion about the current state of the financial system and whether it’s fit for purpose.

I will be joined by John Adams and also by Robbie Barwick from the Citizens Party. https://citizensparty.org.au/

You can ask a question live.

Go to the Walk The World Universe at https://walktheworld.com.au/

Rest In Peace ASIC: 3rd February 2023!

Following on the amazing news from last week that John Adams and In the Interests of the People, didn’t just get one inquiry into ASIC, but two – we have new news!

One inquiry will be held by the Senate Economics References Committee – this inquiry was established by a 43-20 vote of the Australian Senate.

https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASICinvestigation

The other inquiry will be held to the Parliamentary Joint Committee on Corporations and Financial Services

https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and_Financial_Services/ASICallegedmisconduct

Yesterday, 2 November 2022, the Senate Economics References Committee officially called for public submissions. The deadline submissions are 3 February 2023 – which is 3 months from now.

For all those people across Australia who have had significantly difficult experiences with ASIC, this is your opportunity to share your stories with the inquiry.

https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASICinvestigation/Terms_of_Reference

https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/How_to_make_a_submission

Go to the Walk The World Universe at https://walktheworld.com.au/

Superannuation: Trick Or Treat?

The Superannuation system is not fit for purpose, as many are finding out as balances decline, while fees do not but forced contributions increase. So today we look at data provided by APRA on fund performance (down more than 4% in the quarter to June 2022, and further now). And we feature an important contribution from Senator Gerard Rennick who addressed The Senate last week on this important issue.

Go to the Walk The World Universe at https://walktheworld.com.au/

ASIC’s Time Has Come…

News flash: Liberal Senator Andrew Bragg has given notice of a motion for a major inquiry into ASIC, which will be voted on tomorrow (Thursday). Labor currently opposes the inquiry, and the Greens haven’t taken a position yet.

Urgent: Call – today – the ALP and Greens Senators on the Economics References Committee to tell them they must support an inquiry. See their contact details below.

Whatever Senator Bragg’s motives, a major inquiry into ASIC is VERY important, as this will be the first specific, detailed, inquiry into ASIC since the 2018 Banking Royal Commission laid bare its many failures. And the Adams Report into ASIC’s very low rate of investigations – just 0.74% of all complaints – shows that it’s performance hasn’t improved.

An example of ASIC’s failure is Sterling First, which has left the lives of the elderly tenants ruined.

Below is the text of Senator Bragg’s motion:

Chair of the Economics References Committee (Senator Bragg): To move—

That the following matter be referred to the Economics References Committee for inquiry and report by the last sitting day in June 2024: (This will be a long, detailed inquiry.)

The capacity and capability of the Australian Securities and Investments Commission to undertake proportionate investigation and enforcement action arising from reports of alleged misconduct, with particular reference to:
(a) the potential for dispute resolution and compensation schemes to distort efficient market outcomes and regulatory action;
(b) the balance in policy settings that deliver an efficient market but also effectively deter poor behaviour;
(c) whether ASIC is meeting the expectations of government, business and the community with respect to regulatory action and enforcement;
(d) the range and use of various regulatory tools and their effectiveness in contributing to good market outcomes;
(e) the offences from which penalties can be considered and the nature of liability in these offences;
(f) the resourcing allocated to ensure investigations and enforcement action progresses in a timely manner;
(g) opportunities to reduce duplicative regulation; and
(h) any other related matters.

The Senators to call are:

Senator Nick McKim Greens:
02 6277 3601 senator.mckim@aph.gov.au

Senator David Shoebridge Greens:
02 6277 3169 senator.shoebridge@aph.gov.au

Senator Jess Walsh ALP:
02 6277 3744 senator.walsh@aph.gov.au

Senator Jana Stewart ALP:
02 6277 3004 senator.stewart@aph.gov.au

FINAL REMINDER: DFA Live Q&A Investing Now With Damien Klassen 8pm Sydney Tonight

Join me for a live discussion about the current state of the financial markets with Damien Klassen, Head of Investments at The Walk The World Funds and Nucleus Wealth.

You can ask a question live.

Go to the Walk The World Universe at https://walktheworld.com.au/

Your Super Savings Are Shrinking!

In this week’s market review we will as always begin in the US, cross to Europe and Asia, and end up with a local Australian summary – bearing in mind that our market pretty slavishly follows those in the Northern Hemisphere, which had an up day on Thursday, and a down day on Friday.

Volatility continues to rage across most asset classes, and this is now having real world consequences on our superannuation, or pension savings, which in Australia are forced by Government. As we will see the losses are mounting up.

But first, it was a bad end to a wild week with U.S. stocks dropped on Friday as worsening inflation expectations kept intact worries that the Federal Reserve’s aggressive rate hike path could trigger a recession, while investors digested the early stages of earnings season. The previous day the stronger than expected inflation data showed inflation remained stubbornly high and this shocked the market into a volatile rise. But in the last session of a volatile week, equities opened higher, then reversed course after data from the University of Michigan showed consumer sentiment improved in October but inflation expectations worsened as gasoline prices moved higher. The median expected year-ahead inflation rate rose to 5.1%, above the 4.7% seen in September. A climb in inflation expectations, a closely watched metric by the Federal Reserve, comes just a day after data showed worse-than-feared inflation pressure.

“Yesterday you had this amazing, powerful intraday rally that was completely wrong,” said Phil Orlando, chief equity market strategist at Federated Hermes. “Then you look at the Michigan numbers this morning that’s consistent with what we’re seeing in the economy, and the stock market now is down to reflect that number. That’s correct.”

The latest edition of our finance and property news digest with a distinctively Australian flavour.

Go to the Walk The World Universe at https://walktheworld.com.au/

DFA Live Q&A HD Replay: Damien Klassen: Investing Now

This is an edited version of a live discussion about the current state of the markets with Head of Investments for Walk The World Funds and Nucleus Wealth, Damien Klassen.

You can register for the “Meet the Managers Forum” scheduled in Melbourne on Wednesday 19/10/22 6:30-8pm: https://www.eventbrite.com/e/meet-the-managers-tickets-410294761677?aff=wtw .

We discussed this strategic session during the show, as well as the current macro issues and answered questions.

Go to the Walk The World Universe at https://walktheworld.com.au/