Ukraine, Russia, interest rates and inflation continue to be the most important factors for investors at the moment; in the short-term at least. How things can change in a month, however, with the domestic market staging a remarkable turnaround to gain 6.4 per cent in March, ultimately bringing the quarterly return back to breakeven.

Just a few short months ago, we were asking the question “are equities too expensive?” The threat of rate hikes then switched the rhetoric to “why aren’t bond yields higher?” But now investors face an even more challenging question, according to Kerry Craig, global market strategist at JP Morgan Asset Management: “what do I do when nearly everything is down?”

These most simple of quotes are likely to be tested in the coming months after what can only be described as a bumper year for commodities. Seen as one of the few true inflation hedges, professional and amateur investors have been pouring into everything from energy to iron ore, lithium and rare earths in the pursuit of protection from weakening share markets.

Few expected February to mark the beginning of what many are calling World War III. Russian leader Vladimir Putin makes the ill-fated decision to invade Ukraine in February, escalating into the aggressive bombing of every major city and a major armed offensive.

The Berkshire Hathaway (NYSE: BRK.A) annual letter to shareholders is must reading for any investor or financial professional. Despite nearing 100 years of age both Buffett and his business partner Charlie Munger remain as astute and knowledgeable as they have ever been.

The proliferation of data and information has done little to improve the outcomes of self-directed investors. With information on almost any issue and a social media system built to reinforce our own beliefs or views in many cases, making sound investment decisions has never been harder.

Australia remains somewhat unique in offering every member of the population the ability to control the investment of their life savings. While not perfect, it clearly remains one of the preferred options, particularly for retirees.

January offered a stark reminder to investors around the world that volatility comes on both the up and downside of markets. It seems as soon as the new year ticked over every financial market participant became obsessed with the outlook for interest rates.

The passive vs. active debate has now been around for several decades, effectively starting when Jack Bogle founded Vanguard in the 1960s. While headlines highlighting the below-average performance of ‘active’ managers make for great headlines, they offer little insight into what is actually occurring in equity markets around the world.

Estate planning is among the least talked-about parts of any financial plan yet given the growing level of wealth in Australia it is likely to be one of the most important. This is particularly so in an age where blended families are more common than ever, and we are about to see the biggest redistribution of wealth from one generation to the next in history.

Despite the all too regular commentaries focused on fear, uncertainty and doubt, investment portfolios delivered another strong year of returns in 2021. Whether it was the spread of the Delta Variant, unexpected inflation, the Evergrande default or more recently the Omicron outbreak, investors had little choice but to accept risk in 2021

There is no shortage of investment ideas available to self-directed investors, nor any lack of ‘fool-proof’ money-making strategies. The level of certainty with which most investment ideas are delivered to the masses belies the inherent complexity of markets.

Since our last note on BNPL, there has been even more frenzied activity in the partnership and acquisition game involving BNPL players and Payment Technology platforms. Here is a summary of the past few months:

There is little doubt it felt like déjà vu for many when word of the new COVID-19 variant, Omicron, spread around the world at the end of November. The article in this issue was written almost immediately after the initial news and was quickly proven wrong.

While every self-directed investor knows that Australia’s share market represents just 2 per cent of the world’s listed companies, investing in overseas markets remains a bridge too far for most.

One of the most powerful trends of 2020 was no doubt the huge surge in retail investors joining the stock market frenzy. With fresh stimulus cheques and stay-at-home orders in place, many turned to shares to pass their time.

This may sound repetitive, but the opportunity in Big Tech has never been better. The US quarterly reporting season has all but confirmed that the most important companies in the world remain in robust health.

It was another positive month for the Wattle Balanced Model which continues to eke out strong returns despite an increasingly uncertain outlook. The preference for shorter duration fixed income and defensive alternative allocations to high-quality bonds paid off after the selloff in global and Australian bond markets.

Global markets once again broke with history, not only passing through which is traditionally the most volatile month of the year but delivering the strongest such month in several years.

Last month we looked at the impact of BNPL players on consumer banking. This month we take a deeper dive into the murky world of this magic pudding finance product.