Here’s what you need to know today

• China has banned the buying of any iron ore from BHP. For weeks, China’s state-owned iron ore buyer China Mineral Resources Group (CMRG) has been negotiating a long-term deal with BHP. As talks broke down CMRG banned steel mills from buying BHP iron ore. BHP was down 2% as a result. (Bloomberg)
  
  

• Australia’s home prices saw their fastest monthly gain since October 2023 according to Cotality's Home Value Index (HVI). Nationally, prices were up 0.8% for the month, and 2.2% for the quarter. And this is all before the expansion of the 5% deposit Home Guarantee Scheme kicks off today. (Capital Brief)
  
  

• Australian lithium stocks had a bad day after the Chinese government confirmed reports about lithium reserves in the mining hub of Yichun from Chinese lithium producers CATL and Gotion High-Tech. Pilbara Minerals (-7%), Liontown Resources (-10%), IGO (-4%) and Mineral Resources (-5%) were all down. (Capital Brief)
  
  

• Spotify founder Daniel Ek has announced he will step down as CEO of the audio streaming platform and transition to the role of Executive Chairman. Two Spotify executives, Gustav Soderstrom and Alex Norstrom, will take over as co-CEOs while Ek turns his focus to the “long arc” of the company. (BBC)
  
  

• The US Government has shut down with the majority of America’s 900,000 federal employees sent home. Republicans needed 7 votes from Democrats to pass their budget through the Senate but would not agree to Democrat demands to reverse cuts to healthcare funding. Before the government shut down, US President Trump warned a shutdown would lead to “irreversible” cuts to federal jobs and programs. (Reuters)
  
  

• One government program that won’t be affect by the shutdown is tariff collection. The US Department of Homeland Security have unveiled a plan to continue collecting tariffs even as non-essential federal workers are sent home. (Reuters)
  
  

• The AI infrastructure boom continues with CoreWeave agreeing to supply Meta with US$14.2 billion worth of computing power to help the social media giant build advanced AI models. This is a big win for CoreWeave who currently make 71% of its revenue from Microsoft. (Bloomberg)
  
  

• Britain is banning junk food ads on television and online before 9pm. The restrictions apply to food designated as high in saturated fat, salt and sugar, which The Economist estimates makes up 20% of purchases in British supermarkets and 60% of current food and drink ads. The ban officially goes into force in January, but food companies have agreed to comply earlier. (The Economist)

What the…?

Ray Dalio, the founder of Bridgewater Associates, has been one of the most successful investors of our time. Lately, he has been focused on how empires end and voicing concerning about America’s growing debt.

He recently made some of his most explicit comments yet, arguing that America’s national debt was at “unsustainable” levels and it threatened the “end of the entire U.S. empire”.

What’s an investor to do? Dalio argued that gold and non-fiat currencies (i.e. crypto) will become more important stores of wealth in coming years. (Quartz)

Investing is a lifelong journey

Here’s what you can learn today

Different advisers for different stages of life

Community Question: When am I ready to see a financial adviser?

We put this question to Matt Ingram, financial adviser and partner at Northhaven Financial Management.

The simple answer is… probably now. It depends more on the type of financial adviser you see.

If you’re just starting out, maybe juggling some student debt or a car loan, thinking about buying your first home, or wanting to get your savings on track, there are advisers who specialise in exactly that. These advisers are set up to help people at the beginning of their financial journey, so you don’t need to have a big investment portfolio or a high income to get value from their advice.

On the other hand, some advisers focus on high-net-worth clients; that is, people with significant assets to invest. If that’s the case, they might have minimum investable asset requirements before you can become a client, so you might not be quite ready for that type of service just yet.

The main thing is to find an adviser who matches where you’re at in life. There are all sorts of advisers out there, each with their own areas of expertise and ideal client types. Whether you’re just starting out or you’ve already built up some wealth, there’s likely someone who can help you take the next step. So, you’re “ready” as soon as you feel you could use some guidance, just make sure you pick someone who’s a good fit for your current stage and goals.

Want help finding an adviser that suits your needs? Fill out the form on our website and we’ll match you with one of our hand-picked advisers.

A message from Betashares

Betashares has launched GGBL, the newest addition to its Wealth Builder range of ETFs.

GGBL is designed to help investors access the benefits of gearing as part of their long-term wealth creation strategy. By borrowing at institutional rates that are typically much lower than those available to individual investors, GGBL provides cost-effective access to geared investing.

The Fund offers moderately geared exposure to a globally diversified portfolio of around 1,300 companies across more than 20 developed markets, excluding Australia. 

Want more Equity Mates?