Many of these oligopolies are large donors to both sides of politics and seem to get an easy run when it comes to tax and regulation.
Michael West runs a website that focuses on independent journalism. Part of what he does is hold companies accountable over unpaid tax, poor corporate practices and government/regulatory concerns.
There is a good argument, that in Australia over the last 20 years, some of the best investments you could have made are in regulated companies and vested interests.
Socially and ethically, we are supporters of Michael’s work and supportive of change.
As an investor, you need to invest in what the world is, not what it should be. You need to be aware that much of the value in particular Australian stocks is tied to their closeness to regulators and political parties. If this changes, then the winners/losers in the stock market could change dramatically.
In this week’s podcast, Nucleus Wealth’s Chief Investment Officer Damien Klassen, Senior Financial Adviser Samuel Kerr and Michael West delve into this topic.
Take us on your daily commute! Nucleus Investment Insights is available in Podcast form on iTunes and all major Android Podcast Platforms.