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Investing

The maturation of Jay Powell

If you just judge Jay Powell by Trump’s tweets, you are excused for concluding that Powell is the worst Fed chair in modern history. Even if you asked the Fed watchers and commentariat for their opinion of Mr. Powell, you would probably get the same assessment. The fact that he has flubbed all his post-meeting […]

Investing

Final rule on ‘association retirement plans’ released by DOL

On July 29, the Department of Labor (DOL) issued a final rule intended to expand the use of multiple employer plans (MEPs) to provide workplace retirement benefits. The final regulations modify the DOL’s long-standing interpretation of “employer” as defined in the Employee Retirement Income Security Act of 1974 (ERISA) to provide an additional mechanism for […]

Investing

Taking a low volatility approach to uncertain markets

After experiencing uncharacteristically low volatility in equity markets for a number of years, investors have felt the uptick in volatility more recently. The CBOE Volatility Index (VIX) is an indicator of the market’s expectation of the S&P 500’s near-term volatility. Typically, higher values are associated with increased levels of market volatility. Since 2012, the closing […]

Investing

SteelPath September MLP update and news

MLP market overview Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended August down 6.7% on a price basis and down 5.5% once distributions were considered. The AMZ results underperformed the S&P 500 Index’s 1.6% total return loss for the month. The best performing midstream subsector for August was the Petroleum Pipeline group, […]

Investing

The Ultimate Father’s Day Present

Every Mother’s Day, my wife and her girlfriends have a tradition: They book a fancy restaurant and get all dressed up, looking a million bucks … And then? They offload the kids onto their husbands and spend the rest of the day drinking champers together! So for Father’s Day this year, I figured “if it’s […]

Investing

This week I lost a mentor

It was 2pm when I arrived at the Peter MacCallum Cancer Centre in Melbourne. I’d been going since 5am, driving in from the farm, then having back-to-back meetings … and back-to-back coffees. I took a deep breath and strode confidently into a private patient room and greeted my old mate, former Deputy Prime Minister Tim […]

Investing

Pass me a bucket

I saw the door of my study creep open, ever so slightly. I heard heavy breathing. Whispers. And then … fits of giggles. It was the school holidays and my sons were bored, so they decided to spy on their old man ‘working’. And fair enough too. When I was roughly their age, I’d do […]

Investing

Is a recession inevitable?

The yield curve has been a constant topic of conversation among investors since mid-August, when the 2-year/10-year Treasury curve briefly inverted and launched furious speculation that a recession may be around the corner.  The same holds true among Invesco’s market strategists, who have been debating what an inverted yield curve means and whether a recession […]

Investing

The day I got scammed on Bitcoin

“Mr Pape, are you ready to make a lot of money?” a stuffy British accent asked me over the phone. “Maybe, but I’m not feeling it”, I replied. “Mr Pape, are you aware that Bitcoin is currently surging? My other clients made 63% … just last week.” “I want you to get me … motivated”, […]

Investing

The Old Black Dog

Today I want to tell you a story about the dog that’s on the cover of my books. (If you’ve read my latest book, you might think you know how this story ends … but trust me, you don’t.) Her name is Betty, and she’s an old sheep dog from the Mallee. Betty was kindly […]