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Here’s what you need to know today

• Nvidia reported quarterly earnings and shares were up 4% in after-hours trading. Revenue was up 69% to $44.1 billion and net profit was up 26% to $18.8 billion. The continued growth in sales indicates that the large tech companies (Amazon, Google, Microsoft) are continuing to invest heavily in AI infrastructure. (Nvidia)
  
  

• A US court ruled that the Trump Administration tariffs are unlawful, ruling that the emergency powers used do not allow such sweeping global tariffs. In response, the White House said, it is "not for unelected judges to decide how to properly address a national emergency" and Homeland Security adviser Stephen Miller called the ruling a "judicial coup". The ruling will almost certainly be appealed to the Supreme Court. (ABC News)

  
  

• Elon Musk has left the Department of Government Efficiency (DOGE). The announcement came one day after Musk criticised the Trump Administration’s ‘Big Beautiful Bill’ which, if passed, would increase US government debt by US$3.8 trillion over 10 years. (ABC News)
  
  

• A group of 12 pension funds that together manage US$950 billion have written to Tesla chairwoman Robyn Denholm demanding Elon Musk work at least 40 hours a week at the embattled car maker. While the letter’s signatories together only hold 0.25% of Tesla shares, it is another sign of growing shareholder dissatisfaction with the multiple hats Elon has been wearing. (AFR)
  
  

• Ukraine and Germany have announced they would together produce long-range weapons and Germany would lift the restrictions on how far Ukraine could fire such weapons. Ukrainian President Zelensky also warned that Russia had amassed 50,000 soldiers near the border in preparation for a large summer offensive. (Financial Times)
  
  

• Chinese fast-fashion retailer Shein has seen its planned London stock market listing fall flat. The company now plans to IPO in Hong Kong after plans to list on the London Stock Exchange were not approved by leaders in Beijing. (Reuters)
  
  

• Wednesday night’s State of Origin rugby league clash was the most-watched television event of the year so far in Australia, bringing in 3.8 million viewers. A reminder that live sport continues to be the most valuable commodity in entertainment. (AFR)

What the…?

Here’s a seriously inspirational story for your Friday. Terry Pirovolakis’ son Michael was diagnosed with spastic paraplegia 50 (SPG50), a rare neurological disorder that affects fewer than 100 people in the world.

There was no cure, and doctors said he would be paralysed from the waist down by age 10 and quadriplegic by 20. The Pirovolakis family liquidated their life savings, refinanced their home and paid a team at the University of Texas to work on a gene therapy. When researchers found a proof of concept, Pirovolakis worked with a small drug company in Spain to manufacture it.

The drug halted the progression of the disease in Michael, and is now in clinical trials to be approved as the first-ever treatment for SPG50. (Fox News)

Investing is a lifelong journey

Here’s what you can learn today.

A framework to evaluate your risk tolerance

Community Question: What framework can investors use to evaluate whether an investment opportunity aligns with their risk tolerance and long-term financial goals?

We put this question to Peter Nevill, financial adviser at Viola Private Wealth.

The first step is understanding what you want to achieve – retire at 60 and generate a passive income that replaces your salary? Grow a deposit to purchase a home? Before constructing a portfolio, the context of what it needs to do for you must be clear, and as goals evolve over time, so must the portfolio to reflect this. There are 3 components relevant here that intertwine:

1. Risk capacity – if your circumstances dictate that you can’t afford to lose any capital, then there is only so far you can go up the ‘risk curve’ – generally, the higher the risk the higher the return, but also the higher the chance of capital loss.

2. Risk tolerance – how much volatility can you withstand emotionally? You don’t want to have sleepless nights worrying about your portfolio because equity markets take a downturn.

3. Risk required – you need to embrace a certain level of risk to generate the returns needed to achieve your goals. If you need to generate 10%pa over the next 10 years to make work optional, a portfolio of government bonds and term deposits just isn’t going to get you there. 

Ask yourself the following questions:

• How would you react if the price of an asset were to go down in value by 15%; buy more? panic and sell everything to cash? Would it keep you awake at night?

• What is more important to you – preserving your capital, or growing the portfolio value as much as possible?

• Have you been comfortable investing in shares and other growth assets in the past?

When assessing whether an opportunity is appropriate for you, look at it through that lens and have your eyes wide open to the expected return and risks – that way, you’re less likely to be scared out of it. Life is too short to be kept awake at night stressing about your portfolio. As always, ensure all the eggs don’t go in the one basket, though – diversity is everybody’s friend; as they say, it’s the only free lunch in investing.

Would you like to speak to Peter or another of our hand-picked financial advisers? Fill out the form on our website and we’ll put you in touch.

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