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Sam Altman has joined Forbes’ rich list.

A new class system is emerging even within the world’s 1pc

The Forbes’ rich list has gained $US2 trillion as Taylor Swift and Sam Altman have become billionaires, but 14 people at the top belong in a new category.

  • Lucy Burton

Is it worth getting a Qantas home loan for the points?

It’s no good getting a ‘free’ one-way ticket to France but having no money to buy yourself a decent pain au chocolat.

  • Penny Wise

Why picking ASX biotechs is mostly for the crazy brave

It’s a space with a reputation for rollercoaster returns and outlandish sales pitches, but some investors get lucky.

  • Tom Richardson

How to move on from a major financial loss

Three people who lost large sums of money open up about being duped, dealing with ‘gut-wrenching betrayal’ and their search for emotional acceptance.

  • Nina Hendy

East coast buyers bet on AUKUS, power Perth’s property boom

Perth is the country’s hottest property market as migrants converge with east coast investors betting that major defence contracts will boost rents and returns.

  • Tom Rabe and Brad Thompson

Matt Comyn’s tax reform ideas don’t warrant breathless praise

Readers’ letters on the CBA chief executive’s tax proposals, why banking regulation is still needed, the lack of research on solar equality, GST fumbles, and calls for more gas.

Wealthiest Australians

Cettire’s shares slumped on Tuesday, on the first day of trade after the Bell Potter note was published.

Cettire shares slide 16pc on Bell Potter downgrade

The company’s house broker said the luxury marketplace would continue to outperform peers, but it would be harder for it to generate high growth.

  • Updated
  • Carrie LaFrenz and Jonathan Shapiro
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
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This Month

Units still provide a valuable foothold into property ownership.

The right apartment still a good stepping stone to property wealth

The price difference between houses and apartments has reached record levels, but units are still an important stepping stone on the property ownership journey.

  • Richard Wakelin
Trustees do not have unfettered power to deliberately exclude particular beneficiaries, even if they are estranged.

Why estranged family members might still have a claim on trust money

A decision in the Victorian courts found that trustee must engage in bona fide inquiries about potential beneficiaries.

  • Peter Townsend

March

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
We asked 11 experts where they would invest $1 million.

Where to invest $1m right now

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
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
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Family offices do asset allocation very well, Josh Derrington says.

Inside the Queensland family office making 15pc

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

  • Tom Richardson
A question of super.

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
Although there will be significant bad debts, they appear to have already peaked.

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
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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
4:56

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
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
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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