Category: Stock Market

One of the most common questions I hear from ASX dividend share investors is around how to build a portfolio that can provide tax-advantaged income.

The way our dividend system is structured in Australia is actually fairly unique in the world – and gives investors the opportunity to harvest income in an advantaged way.

But many investors don’t realise this and make decisions with their investing which negate these benefits and can even end up eroding their overall returns.

So let’s look at how ASX shares are taxed, and how you can use this to your advantage. Remember though – this is just general information. You should always speak to a tax professional about your individual circumstance as well.

How are ASX shares taxed?

When you own ASX shares you will face two types of tax: capital gains tax and income tax.

Capital gains tax is only levied when you buy an ASX share and sell it at a later date for a profit. In most circumstances, you get a discount on this gain if you have held the shares longer than a year. And if you never sell a share, you never have to pay tax on its gains – something to keep in mind.

For shares that don’t pay dividends, that’s the end of the story. But if you hold shares that do (which is likely for many ASX investors), you will also pay income tax.

See, dividends are taxed as ordinary income. This means you’ll have to add the dividends you receive each year to your total income, which is then taxed at your marginal rate.

But there’s another aspect to dividend taxes that some investors overlook: franking credits.

How franking can help you pay less tax

If a company pays a dividend in Australia, it usually does so from a pool of cash that has already been taxed by the government. Therefore, if the government taxes the dividend again when you receive it as income, it will have been taxed twice. To remove this double-tax, the dividend will come with a ‘receipt’ of the tax that’s already been paid. That receipt is known as a franking credit. Depending on how the company has paid its tax, and in which country it earns its income, dividends may be distributed fully franked, partially franked or with no franking credit at all. 

Franking credits can be used to offset other income as a deduction, effectively reducing the tax you have to pay on said income. In this way, receiving dividends is a very tax-effective way to make money. This is particularly relevant in retirement when you no longer have work-related deductions to offset your income tax.

Foolish Takeaway

Of course, some investors don’t really worry about dividends and prefer to stick with growth shares to try and maximise capital gains. But for those investors who invest for income, or even those who are happy with any kind of return, dividends can be a great way to receive income that comes with tax advantages like franking. So make sure if you invest for dividends, you know the full extent of the benefits that come with them!

More reading

• Top brokers pick the latest ASX stocks to buy today
• Is it time to buy ASX banks?
• 2 ASX shares I plan to hold til I’m 100
• ASX 200 market close: Share market up 1.8%
• Here’s why the Fortescue share price hit an all-time high today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post How you can get tax-advantaged income with ASX dividend shares appeared first on Motley Fool Australia.

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The S&P/ASX 200 Index has ended up 1.8% today at the market close.

There are plenty of ASX shares that have soared in reaction to the news that a vaccine is showing very early promising signs. Investors love good news so share markets soared overnight and today the ASX has followed.

Some of today’s biggest ASX 200 movers

The Unibail-Rodamco-Westfield (ASX: URW) share price went up 11.4% today.

Worley Ltd (ASX: WOR) saw its share price jump by 9.6%.

The Nearmap Ltd (ASX: NEA) share price rose by 9%.

The oOh!Media Ltd (ASX: OML) share price grew by 8.6%.

COVID-19 conditions have caused cyclical and retail shares like shopping centres and businesses relating to advertising to be sold off. Today seems to have been a signal for some investors to jump into shares that have been most heavily affected. And something like Worley might benefit from the higher oil prices. 

James Hardie Industries plc (ASX: JHX) share price jumps

The James Hardie Industries plc (ASX: JHX) share price increased by 11.2% after announcing its result.

The compared reported group adjusted net operating profit of US$352.8 million for the full year, an increase of 17% compared to the prior corresponding period. Net sales of US$2.6 billion for the full year, this was an increase of 4% compared to last year.

Reported net profit increased by 6% to US$241.5 million. The ASX 200 share’s result was solid given the environment.

Tabcorp Holdings Limited (ASX: TAH) update

The ASX 200 gambling’s share price rose 2.5% today after giving an update.

Tabcorp said that it has secured agreements for a waiver of leverage and interest cover for the next two testing dates, but it won’t pay a final FY20 dividend.

It’s also in advanced discussions with its US private placement holders to obtain changes to existing covenants.

At 15 May 2020 it had $820 million of available liquidity of undrawn facilities and unrestricted cash. This compares to $749 million at 3 April 2020.

More reading

• ASX 200 storms 2% higher: Big four banks jump on COVID-19 vaccine news
• Why James Hardie, Oil Search, Webjet, & Westpac shares are jumping higher
• This is the latest ASX 200 stock to unveil double digit profit growth
• ASX gambling shares on watch as sporting codes make plans to resume
• These mid cap ASX shares could grow into large caps in the future

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia has recommended oOh!Media Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Fortescue Metals Group Limited (ASX: FMG) share price hit another new all-time high today. Fortescue’s shares had been trending higher for most of the year, despite a brief (but sharp) dip in March, along with the rest of the broader S&P/ASX 200 Index (ASX: XJO). But since falling to a low of $8.58 on 9 March, the Fortescue share price has rallied over 62% to today’s new high of $13.95 before edging slightly lower to $13.93 at the close.

Real winners have been hard to find on the ASX 200 in recent months (especially in the dividend space), so is it too late to invest in Fortescue?

Why Fortescue shares are hitting the roof

Fortescue is an iron ore miner and one of the biggest in Australia at that. The company has a market capitalisation of over $40 billion (based on today’s closing share price). Unlike most other mining giants such as BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO), Fortescue is a pure-play on iron ore, with the red dirt comprising almost all of the company’s earnings.

And it’s this red dirt that is sending the Fortescue share price higher today. Iron ore prices have been holding up remarkably well since the coronavirus pandemic set in. They haven’t dipped below US$80 per tonne in 2020 so far. But this week, iron ore prices have pushed over US$90 per tonne amid global supply concerns.

According to the Australian Financial Review (AFR), the Brazilian mining sector is currently being severely affected by COVID-19, and supply cuts are very likely in 2020. Brazil is one of the largest exporters of iron ore, so this supply squeeze is causing global iron ore prices to rise, and the Fortescue share price to follow suit.

Is the Fortescue share price a buy at these levels?

On one level, there is a lot to like about the Fortescue share price today. Fortescue is an extremely low-cost producer of iron ore and has an average cost of extraction of around US$13 per tonne. With iron ore prices currently sitting around US$92 per tonne, Fortescue has basically got itself a license to print money. This money will no doubt fund massive dividend payments for Fortescue’s shareholders if the iron ore price stays anywhere close to its current level – which in itself is a scarce commodity these days.

But by investing in Fortescue (as with all ASX resources shares) you are always taking on pricing risk. Fortescue has no control over the pricing of the commodity it mines, which leaves it at the mercy of the market. Iron ore is a notoriously volatile commodity as well, having touched both US$187 a tonne and US$40 a tonne in the last decade.

Foolish Takeaway

I think Fortescue is a great company, and one well worth adding to a diversified ASX portfolio. Its costs are so low that I don’t think it will ever be in serious risk of bankruptcy, even in a sustained iron ore bear market. Saying that, anything can happen with commodity prices (just take a look at oil recently). As such, I would probably wait until this company isn’t trading at all-time highs before adding it to my buy list.

More reading

• Is the ASX 200 getting too far ahead of itself?
• Macquarie picks the best stocks to buy for the post COVID-19 rebound
• Could ASX 200 iron ore shares save the Australian economy?
• Are CBA shares in the buy zone?
• 3 ASX shares that will have strong dividends in 2020

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) may be getting a bit too far ahead of itself at the moment. Or is it?

It has recovered 22% since that market low on 23 March 2020. The ASX 200 is still down 22% from the all-time high on 20 February 2020. What’s going to happen next?

Bear case for the ASX 200

Several major economies are predicting that this is going to be one of the most economically painful periods. Perhaps it will be the most painful ever. I’m not sure either way about that, but to me it seems unlikely that the ASX 200’s low would be in a month after the sell-off started if the real economy does get that bad. Maybe investors are getting complacent about the situation.

There’s a large amount of economic support for populations at the moment. Unemployment benefits have been boosted and Australia’s jobkeeper program is unprecedented. But how long will these last? The Australian federal government seems keen to lower the cost somehow. If these programs are ended prematurely it could cause shares to fall.

The GFC is a completely different situation to this, but the ASX 200 market selloff and economic damage took more than a few months to get through.

Bull case

There is already early signs of positive news of a vaccine for the coronavirus. There are dozens of teams around the world trying to develop a treatment or vaccine.

Central bank support and extremely low interest rates are supporting asset prices like the ASX 200. Perhaps that support is artificial, but it’s there nonetheless. The RBA has already said that low interest rates are probably going to stay around for at least for a few years.

A fall of more than 20% is a sizeable drop even after the recovery we’ve seen. These prices are still (long-term) good value compared to before and interest rates are a lot lower. Time will tell whether the bull or bear case is right. I think there could be more pain to come, but I’m still regularly investing each month.  

Within the ASX 200 I still there are plenty of opportunities like Brickworks Limited (ASX: BKW).

More reading

• Here’s why the Fortescue share price hit an all-time high today
• Macquarie picks the best stocks to buy for the post COVID-19 rebound
• Are CBA shares in the buy zone?
• 3 ASX 200 blue chip shares I would buy today
• The ASX big bank stock most likely to outperform in the COVID-19 recovery

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Day trading may provide you with an adrenaline kick and potentially even decent returns, but statistically it creates far more losers than winners.

Cory Michael from Vantage Point Trading told Forbes: “The success rate for day traders is estimated to be around only 10%, so …90% are losing money.”

But those in the 10% aren’t necessarily winning. Mr Michael added: “Only 1% of [day] traders really make money.”

In light of this, I think investors interested in building their wealth should consider a more prudent investment strategy that involves buying and holding shares over the long term.

With that in mind, here are three ASX shares that I believe investors should consider:

Afterpay Ltd (ASX: APT)

The first share to consider buying is Afterpay. I think this payments company would be a great option for long term focused investors. This is due to the continued success of its international expansion which I expect to drive further strong underlying sales and customer growth for a long time to come. Especially if it decides to expand into mainland Europe and Asia.

Cochlear Limited (ASX: COH)

Another option to consider is Cochlear. It is a hearing solutions company which I feel could be a long term market beater. I believe its outlook is very positive due to the ageing populations tailwind. This is because as people age their hearing will tend to fade and require some form of assistance. I expect this to lead to increasing demand for hearing solutions products over the next couple of decades.

Pushpay Holdings Group Ltd (ASX: PPH)

Pushpay is another payments company to consider. It provides a donor management platform to the faith, not-for-profit, and education sectors. The company has carved out a leadership position in the sector and has been experiencing very strong demand for its offering. The good news is that it is still only scratching at the surface of its sizeable market opportunity. This could mean there is still plenty more growth to come from this rapidly growing tech company.

More reading

• Cochlear share price edges lower on patent infringement news
• 2 millionaire-maker ASX internet growth shares
• Where to invest $500 in ASX shares right now
• This ASX fintech share is soaring again as the economy reopens
• 3 industries that may never recover from COVID-19

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The federal government’s early childhood education and care relief package helped ASX childcare shares stay afloat at the height of the COVID-19 pandemic. However, as restrictions ease and Australians begin to go back to work, the free childcare scheme is unlikely to be extended beyond its expiry date of 28 June 2020.

What is the free childcare scheme?

In early April, the federal government pledged to support parents and childcare centres across the country by announcing that childcare would become free for parents who continue to work during the coronavirus pandemic.

Additionally, the government announced it would provide financial support to childcare centres to ensure they continue to operate. As a result, the government has been paying childcare businesses 50% of their pre-COVID-19 revenue in the form of weekly ‘business continuity payments’.

The scheme was no doubt a big relief to the many parents trying to balance both working at home and parenting at the same time. It has also been vital for many others such as nurses and doctors that have been required to leave their children in the care of others when they go to work.

The announcement put a rocket under ASX childcare shares like G8 Education Ltd (ASX: GEM) and Think Childcare Ltd (ASX: TNK) at the time. However, following the initial boost, both shares remain relatively flat over the past month. G8 Education even tapped the market for capital in April to provide liquidity and strengthen its balance sheet.

New report hails scheme as a success

A report into the free childcare scheme has just been released by the Federal Education Department. The report was produced at the height of the pandemic and involved a survey of more than 7,000 child care providers.

According to ABC News, the report concluded that the scheme fulfilled its aim of rescuing the sector and keeping services viable and open. It found that 86% of childcare services credited the scheme with helping them stay open, while 76% said the scheme helped them stay financially viable. The report also said that current childcare levels remain well below capacity at 63%.

As quoted by ABC News, Education Minister Dan Tehan said:

It is positive to see a report card like this but we cannot rest on our laurels because as demand continues to increase we’ve got to ensure that the sector will survive and flourish in a post pandemic world.

Speaking to the Sydney Morning Herald, Mr Tehan further commented on the sustainability of the scheme:

The success of the rescue package and the success we have had in flattening the curve means we do have to look at how long we want this temporary measure in place and how quickly do we need to change to meet the growing demand.

What next?

The current scheme is due to expire on 28 June 2020. While no final decision in regard to an extension has been made yet, Prime Minister Scott Morrison recently highlighted the temporary nature of the scheme. On Friday, Scott Morrison said that although the Education Minister is considering the program beyond its current expiry, it was “not a sustainable model for how the childcare sector should work”.

As for ASX childcare shares, it will continue to be a tough road ahead as COVID-19 has had a significant adverse impact on occupancy levels across the sector. G8 Education and Think Childcare also carry a meaningful amount of debt to be serviced.

Although G8 Education’s recent $301 million equity raising helped to substantially shore up its balance sheet, it is still in a net debt position of $65 million on an adjusted basis. The much smaller Think Childcare had around $30 million of net debt as of FY19 (ending 31 December 2019).

More reading

• These 10 ASX 200 shares have fallen the most over the last year
• Here are all the ASX 200 companies that have announced capital raisings so far in 2020
• Leading brokers name 3 ASX 200 shares to sell right now

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (Index:^AXJO) is heading for its best session this month on growing optimism that the global economy is finally on the path to recovery.

Markets may have passed peak COVID-19  pain and investors should be reassessing their ASX share portfolio to best position themselves for the post pandemic world.

If you are looking for clues on the stocks you should and shouldn’t hold, Macquarie Group Ltd (ASX: MQG) may have some answers as its analysts looked at stock returns in the 1990 recession.

Doesn’t repeat but rhymes

That was the recession we had to have where the unemployment rate jumped to over 10%. Economists expect a similar outcome for the job market during this coronavirus-inspired recession.

“We still think the market is in a range, as valuations limit upside. But without a second wave of Covid-19 and shutdowns, the worst of the contraction may have passed, and March 23 is the low,” said the broker.

“This puts us in Late Contraction; that part of the recession where stocks often go up even when unemployment rises above 10% as it did months later in 1990-91.”

Go overweight on resources

One sector that the broker is overweight on during this part of the market cycle is resources. The BHP Group Ltd (ASX: BHP) share price outperformed during the recession two decades ago and Macquarie thinks this will happen again.

Mind you, it’s not only BHP but also the other iron ore producers that Macquarie are tipping to be big winners this time round. This means you should add Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) to the list as well.

This is because the group is expected to generate strong free cash flows that can be used to pay dividends.

Gold standard

Gold miners also found a place in Macquarie’s model portfolio. The broker added Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) to its overweight list.

Another sector to find favour is communications as media stocks outperformed in the last recession. Macquarie is backing NEWS CORP/IDR UNRESTR (ASX: NWS) over Nine Entertainment Co Holdings Ltd (ASX: NEC), and is keeping its bullish view on Telstra Corporation Ltd (ASX: TLS) for its defensive qualities.

Bet on consumers

Macquarie is also encouraging investors to increase their exposure to consumer discretionary stocks as cyclical stocks tend to outperform in a recovery. Stocks highlighted by the broker are Crown Resorts Ltd (ASX: CWN), Wesfarmers Ltd (ASX: WES) and Aristocrat Leisure Limited (ASX: ALL).

Sectors to avoid

On the flipside, Macquarie is recommending investors go underweight on financials, healthcare and technology.

It is also suggesting investors reduce their exposure to Australian real estate investment trusts (AREITs).

More reading

• Here’s why the Fortescue share price hit an all-time high today
• Is the ASX 200 getting too far ahead of itself?
• Could ASX 200 iron ore shares save the Australian economy?
• Are CBA shares in the buy zone?
• 3 ASX shares that will have strong dividends in 2020

Motley Fool contributor Brendon Lau owns shares of Aristocrat Leisure Ltd., BHP Billiton Limited, Macquarie Group Limited, Rio Tinto Ltd., and Telstra Limited. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Telstra Limited. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended Crown Resorts Limited and Nine Entertainment Co. Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I’m a big fan of growth shares and feel lucky to have so many to choose from on the Australian share market.

But with so many options, it can be hard to decide which ones to buy.

Three top ASX growth shares that I think should be considered are listed below. Here’s why I would be a buyer of these shares:

a2 Milk Company Ltd (ASX: A2M)

One of the best growth shares on the local market could be a2 Milk Company. Over the last few years the infant formula and fresh milk company has grown at a rapid rate thanks largely to the success of its A2-only offering with Chinese consumers. The company’s products exclude the A1 protein from cow’s milk which some people are believed to have problems consuming. Demand continues to rise for its products, leading to management recently upgrading its guidance for the full year. The top end of its guidance range implies year on year revenue growth of 34.1% and EBITDA growth of 35.4%. Given its modest market share, I believe a2 Milk Company still has a long runway for growth.

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

If you would like to invest in growth shares outside Australia, then you could invest in some of the fastest growing tech companies in the Asia market with the BetaShares Asia Technology Tigers ETF. Through a single investment investors can gain exposure to companies that are revolutionising the lives of billions of people in the region. This includes ecommerce giant Alibaba, search engine company Baidu, and new Afterpay Ltd (ASX: APT) shareholder and WeChat owner, Tencent.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another option for growth investors to consider is Domino’s Pizza. I think it could generate market beating returns for investors over the next decade thanks to its bold same store sales and store expansion targets. Over the next five years the pizza chain operator is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. If it delivers on this, I expect it to underpin strong earnings growth for the foreseeable future.

More reading

• Where to invest $10,000 into ASX shares
• ASX shares that could benefit from the Internet of Food
• ASX shares can help millennials retire before their parents
• Are these China-exposed ASX shares in danger in 2020?
• Double your money with these high quality ASX shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Domino’s Pizza Enterprises Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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A large portion of the Australian economy is reliant on tourism and high value exports such as tertiary education. With the coronavirus pandemic effectively shutting down the majority of the economy, Australia’s mining sector has remained a pillar of strength.

So, will the surging price of iron ore help the Australian economy recover faster?

Why is the iron ore price surging?

With economic fears of the coronavirus pandemic subsiding, the iron ore spot price has surged more than 10% since the end of April and is currently trading above US$91 a tonne. The iron ore price has surged on the back of stronger than expected demand from China and weak supply from exporters in Brazil.

Earlier this year, the pandemic triggered fears as steel stockpiles in China surged due to subdued construction demand. However, as construction projects have restarted in China the country’s steel surplus has been absorbed. In addition, the potential for infrastructure stimulus has also strengthened the demand side.

In addition to stronger demand, the rapid spread of coronavirus cases in Brazil has impacted the country’s output. Brazil has long been the world biggest producer of iron ore, however a dam collapse last year resulted in tighter restrictions being placed on mines. Surging coronavirus cases in the country have also raised concerns about future iron ore supply.

How have iron ore miners performed?

Iron ore miners on the ASX have outperformed in 2020 despite the tumultuous conditions of financial markets. Fortescue Metals Group Limited (ASX: FMG) has seen its share price surge almost 30% for the year and is currently trading at all-time highs. Mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) have also seen strong demand with their share prices bouncing 44% and 28%, respectively, from their lows in March.

The Australian mining sector was partially immune to the coronavirus lockdown with workers allowed to commute for work. In addition, coronavirus transmission in the iron ore producing heartland of Western Australia remains low.   

Foolish takeaway

According to the Minerals Council of Australia, iron ore exports are the largest source of export revenue in Australia, contributing $63 billion in 2017 to the economy. Iron ore producers in Australia are poised to benefit and provide a boost to the local economy as they dominate supply for recovering Chinese demand.

In addition to the economy, the ASX 200 iron ore miners could also provide value to shareholders. With companies in the banking sector slashing dividends, iron ore miners could fill the income void by matching or increasing their payouts.

More reading

• 3 ASX shares that will have strong dividends in 2020
• 5 ASX 200 dividend shares for an economic recovery
• Why ASX iron ore miners like BHP aren’t afraid of the China trade war
• Fortescue share price hits a record high: Is it too late to invest?
• ASX 200 up 1.35%: Gold miners and Fortescue rocket higher, big four banks tumble

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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