Magellan is innovating again, this time raising money for what's been called a "monster" closed-end listed investment trust (LIT) with features that dramatically raise the bar for the standard model of closed end listed investment vehicles.

Mid this year, ASIC concluded its enquiry into allegations of wrongdoing and criminal behaviour at IOOF, related mainly to the research team and its then head. The real "scandal" turned out to be about reckless and biased elements of the media (and politicians).

I wonder whether this post-Trump market rally and associated bullish economic and market narrative will come to be seen as one of the more prominent historical examples of poorly timed and lazy market groupthink.

With most asset classes offering limited return potential, there is a drive for more alpha, but finding it is not easy. Discount narrowing on LICs can be a valuable source.

The current investment environment is arguably one of the toughest ever in which to build portfolios that deliver return and are robust into the future. There are a range of approaches that can be taken.

Australia is increasingly resorting to "debt bubble economics" - exactly what caused bubbles and major busts in the US and other economies in recent decades.

I am increasingly coming to the conclusion that the vast majority of annual investment outlook pieces are frequently useless to the average investor or adviser.

When central banks are taking to extreme policies, and Donald Trump has a decent chance of being US President, we need to be prepared for anything. Gold may not be the perfect hedge, but what is?

The case for and against illiquid assets is hotly debated. Indeed, other than fees, the battle between industry funds and retail super funds has been heavily fought around significantly differing levels of exposures to the main illiquid asset classes.

Markets have a habit of coming along and kicking you in the teeth when you least expect it - and often when you are most confident you know what you are doing. The bull market in central bank omnipotence is probably over.

Many have taken an alarmist approach to the recent sell-off in China's A sharemarket, declaring the bubble has definitely burst. The question was well put by one of our key clients who in late June asked, "Is China Done?".

Recent reports covering IOOF have, in my view, widely missed the mark. The media, politicians and industry participants who have helped propel what to me looks like a witch-hunt need to stop and think.

If the "no property bubble" camp is to gain credibility, they need to develop much stronger arguments than many trotted out recently.

In a world dependent on robust economic growth to solve or postpone debt problems the over-reliance on an apparently slowing US economy is of major concern.

While it has offered a very bumpy and challenging ride in recent years, I suspect those prepared to buy and hold some gold exposure today will be well rewarded.

The recent listing of the Magellan Global Fund has essentially introduced a new structure into the ASX-listed and quoted fund universe. With more choice comes more complexity.

Investing globally is increasingly popular with the expectation of a continued weak AUD being a big driver. But easy currency gains may have been had.

Recently, I attended the Eureka Report Around the World of Investing Forum. The overwhelming impression was that global investing is very new to many Australians.

Despite strong returns, it's still hard for investors to think positively about China A shares as an investment. The key is to envisage what the world will look like in 10 to 15 years.

Relying on Fed tightening to predict the next serious sharemarket weakness may be very dangerous. Perhaps this time really IS different.