The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Monday, June 13, 2011

Did God give you eyes to plagiarise?

This long-weekend the AFR has effectively recycled the feature piece on shares vs. fixed-income that I published with Business Spectator a couple of weeks ago (see here). It runs one story, A vibrant bond market would keep us all interested, that argues, as I did, that we are overexposed to equities, and puts the case for more retail investment in fixed-income (as I did). It even quotes the same expert I dug out, Dr Stephen Nash, and uses the same OECD asset-allocation weights I've employed in the past to make this case (about Aussie super funds being overweight equities). This article is accompanied by another feature, Why our shares are duds, by my mate Andrew Cornell, which also advances the theme I pushed in relation to the relatively poor performance of equities (albeit that Cornell ignores the risk/volatility story, and focuses on a comparison of Aussie equities against other sharemarkets, as opposed to other asset-classes). Finally, it runs an op-ed by former ASIC Chair, Jeremy Cooper, who is now with Challenger Financial, entitled, Market no place for retirees, that argues that Australian retirees have far too much equities risk, as I did. One of my chief criticisms of the Cooper Review of superannuation was that it did not address this issue.