Why Australian shares underperformed and how to pivot your portfolio for FY2026

The numbers don't lie: The ASX did 3 per cent over the 12 months to June, and the S&P 500 did 20 per cent. Unless - like a big super fund - you had half your portfolio invested offshore, the chances are you underperformed in FY2026.

The numbers don't lie: The ASX did 3 per cent over the 12 months to June, and the S&P 500 did 20 per cent. Unless - like a big super fund - you had half your portfolio invested offshore, the chances are you underperformed in FY2026.

Marc Jocum, investment strategist at GlobalX ETFs, joins Associate Editor, James Kirby in this episode.

In today's show, we cover:
* Wall Street smashes the ASX...again
Why Big Super funds probably beat your SMSF
Which ETFs investors are buying for the year ahead
What the hell happened at CSL?

The numbers don't lie: The ASX did 3 per cent over the 12 months to June, and the S&amp;P 500 did 20 per cent. Unless - like a big super fund - you had half your portfolio invested offshore, the chances are you underperformed in FY2026.
Marc Jocum, investment strategist at GlobalX ETFs, joins Associate Editor, James Kirby in this episode.
In today's show, we cover:
<ul>
<li>* Wall Street smashes the ASX...again</li>
<li>Why Big Super funds probably beat your SMSF</li>
<li>Which ETFs investors are buying for the year ahead</li>
<li>What the hell happened at CSL? </li>
</ul>

Unlock your wealth potential with The Money Puzzle.

Featuring two power-packed episodes each week packed with smart money-making strategies, from superannuation to investing in shares, plus in-depth analysis of property markets.

Get tips from leading experts and practical tools to help build lasting wealth.

Submit your questions at themoneypuzzle@theaustralian.com.au. 

Unlock your wealth potential with The Money Puzzle.
Featuring two power-packed episodes each week packed with smart money-making strategies, from superannuation to investing in shares, plus in-depth analysis of property markets.
Get tips from leading experts and practical tools to help build lasting wealth.
Submit your questions at <a href="mailto:themoneypuzzle@theaustralian.com.au">themoneypuzzle@theaustralian.com.au</a>.&nbsp;

The Australian’s Money Puzzle covers all important finance and property topics.

The Money Puzzle

Every week, The Australian's James Kirby delivers two power-packed episodes featuring in-depth analysis of property markets and smart money-making strategies.

Unlock your wealth potential with The Money Puzzle.

Featuring two power-packed episodes each week packed with smart money-making strategies, from superannuation to investing in shares, plus in-depth analysis of property markets.

Get tips from leading experts and practical tools to help build lasting wealth.

Submit your questions at themoneypuzzle@theaustralian.com.au.

Unlock your wealth potential with The Money Puzzle.
Featuring two power-packed episodes each week packed with smart money-making strategies, from superannuation to investing in shares, plus in-depth analysis of property markets.
Get tips from leading experts and practical tools to help build lasting wealth.
Submit your questions at themoneypuzzle@theaustralian.com.au.

Why Australian shares let you down this year (and what to do about it) 

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/43dc2faa-83ed-46a6-a76d-b47b00865c78/transcript

Budget 2026: The sleeper tax issue for long-term investors and retirement planning

For a generation, Australian investors were advised to hold their investments until they retired: Then once they entered tax-free retirement, they could largely sidestep CGT tax: This central plank of financial advice is finished: Every retiree will now pay a minimum 30 per cent tax and nobody will escape.

For a generation, Australian investors were advised to hold their investments until they retired. Then once they entered tax-free retirement, they could largely sidestep CGT tax. This central plank of financial advice is finished: Every retiree will now pay a minimum 30 per cent tax and nobody will escape.

Dr Adrian Raftery, author of '101 ways to save money on your tax - legally' joins Associate Editor, James Kirby in this episode.

In today's show, we cover:
The shock change to investor retirement benefits
How the CGT new minimum rate is the sleeper issue for long-term investors
Examining how tax planning must reflect the wider budget changes
My shares have gone to zero - can I claim a tax loss?

For a generation, Australian investors were advised to hold their investments until they retired. Then once they entered tax-free retirement, they could largely sidestep CGT tax. This central plank of financial advice is finished: Every retiree will now pay a minimum 30 per cent tax and nobody will escape. Dr Adrian Raftery, author of '101 ways to save money on your tax - legally' joins Associate Editor, James Kirby in this episode.
In today's show, we cover:
<ul>
<li>The shock change to investor retirement benefits</li>
<li>How the CGT new minimum rate is the sleeper issue for long-term investors</li>
<li>Examining how tax planning must reflect the wider budget changes</li>
<li>My shares have gone to zero - can I claim a tax loss?</li>
</ul>

Your retirement plan’s CGT shock (with Adrian Raftery) 

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/2dcd4894-8ac0-47a9-9352-b49000711055/transcript

The Money Puzzle: Why commercial property is suddenly looking attractive

There is still a property sector where the outlook is improving, where yields are strong and anyone can negatively gear.

There is still a property sector where the outlook is improving, where yields are strong and anyone can negatively gear. Hey, you can even use borrowed funds in your Self-Managed Super Fund: It's time to take a second look at the commercial property sector.

James Gerrard of www.financialadviser.com.au joins Associate Editor, James Kirby in this episode.

In today's show, we cover:
The pros and cons of commercial property
Why Budget tax changes have lit up the sector
The best entry points for the everyday investor
Cash flow risk - the outstanding danger for new commercial property investors 

There is still a property sector where the outlook is improving, where yields are strong and anyone can negatively gear. Hey, you can even use borrowed funds in your Self-Managed Super Fund: It's time to take a second look at the commercial property sector.
James Gerrard of&nbsp;<a href="http://www.financialadviser.com.au/" data-saferedirecturl="https://www.google.com/url?q=http://www.financialadviser.com.au&amp;source=gmail&amp;ust=1784688870652000&amp;usg=AOvVaw3TmLzujEY4CIlUSzzz8FLe">www.financialadviser.com.au</a> joins Associate Editor, James Kirby in this episode.
In today's show, we cover:
<ul>
<li>The pros and cons of commercial property</li>
<li>Why Budget tax changes have lit up the sector</li>
<li>The best entry points for the everyday investor</li>
<li>Cash flow risk - the outstanding danger for new commercial property investors&nbsp; </li>
</ul>

Commercial property suddenly looks attractive: Should you go near it?

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/ebb3a453-9e90-489e-9ae4-b48e004debfd/transcript

The Money Puzzle podcast: The future of property investing  and adapting to the new budget realities

We are only beginning to digest the full impact of the Budget changes for residential property. In short, it will never be the same again. That doesn't mean you can't invest successfully, but it does mean you need to know the new rules.

We are only beginning to digest the full impact of the Budget changes for residential property.In short, it will never be the same again. That doesn't mean you can't invest successfully, but it does mean you need to know the new rules.

Cameron Kusher of Kusher Consulting joins Associate Editor, James Kirby in this episode.

In today's show, we cover:
The hunt for yield in residential property
Forget the interest-only loan
How long-term negatively geared investors will thrive
Taking a second look at commercial property 

We are only beginning to digest the full impact of the Budget changes&nbsp;for residential&nbsp;property.In short, it will never be the same again.&nbsp;That doesn't mean you can't invest successfully, but it does mean you need to know the new rules.
Cameron Kusher of Kusher Consulting joins Associate Editor, James Kirby in this episode.
In today's show, we cover:
<ul>
<li>The hunt for yield in residential property</li>
<li>Forget the interest-only loan</li>
<li>How long-term negatively geared investors will thrive</li>
<li>Taking a second look at commercial property&nbsp;</li>
</ul>

Why property investing will never be the same again 

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/87caffbe-72a4-4452-aff3-b48900704894/transcript

Why Australian shares let you down this year (and what to do about it)

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