Elsewhere, Trump’s \u201cTrump’s \u2018Big, Beautiful Bill\u2019\u201d passed the House and Senate, now he’s just got to sign it. In the words of the President, \u201cthis is a great time to buy\u201d. Stay strong. Stay long.\u00a0<\/p>\n
Have a great weekend.<\/p>\n
Chris Conway<\/a><\/b>, Managing Editor, Livewire Markets<\/p>\n From cold call to capital giant: The Metrics story in Lockhart\u2019s words<\/p>\n Despite increased scrutiny, demand for private credit remains strong. For co-founder and CIO Andrew Lockhart, the focus remains unchanged: raise capital, deploy it wisely, and manage risk. \u201cYou’re fundamentally here to deliver a good outcome for people,\u201d he says. That disciplined approach has helped grow Metrics to $30 billion in assets under management over 12 years. On this episode of The Rules of Investing, Lockhart explores the firm’s origins, current market conditions, the impact of falling interest rates, and an exciting new growth opportunity that builds on Metrics\u2019 core strengths and deep institutional relationships. Don\u2019t miss this rare look inside one of Australia\u2019s most successful private credit managers.<\/p>\n LISTEN | READ<\/a><\/b><\/p>\n No – ETFs are not causing CommBank’s “hated” rally<\/p>\n Commonwealth Bank\u2019s relentless rally has drawn plenty of ire, and no shortage of blame directed at ETFs and passive flows. But are they really the culprits? In this analysis, I dive into the data to reveal what\u2019s actually driving CBA\u2019s ascent. Spoiler: it\u2019s not the ETFs. I also tackle the most common arguments, highlighting the role of fundamentals, and explain why ETF ownership simply doesn\u2019t stack up as a convincing cause. If you\u2019ve been puzzled (or frustrated) by CBA\u2019s performance, this piece offers much-needed clarity. Don\u2019t miss this myth-busting take on one of the ASX\u2019s most talked-about rallies.<\/p>\n FIND OUT\u00a0MORE<\/a><\/b><\/p>\n Top 3 Wires this Week<\/p>\n Here are the weeks top viewed or liked wires by our subscribers:<\/p>\n Some of the best wires from our Contributors this week:<\/p>\n Every major asset class made money – did you?<\/p>\n So much for the crash. Despite predictions that Trump\u2019s trade war would sink global markets, every major asset class ended FY25 in the green. Unhedged international equities led the charge with an 18% return, Australian listed property surged 14%, and domestic bonds rallied 6.8%. The average balanced super fund delivered a solid 10.2%, a welcome payoff for those who stayed the course. It\u2019s a textbook case of markets climbing the wall of worry (and a timely reminder of the power of diversification). But AMP\u2019s Shane Oliver warns<\/a> the fizz could fade in FY26, with more volatility and slimmer returns on the horizon.<\/p>\n Vishal Teckchandani<\/a><\/b>, Senior Editor, Livewire Markets<\/p>\n Weekly Poll<\/p>\n What are your predictions for equity market returns in FY26?<\/b><\/p>\n a) Bullish \u2013 <\/strong>10%+ gains incoming VOTE NOW<\/a><\/b><\/p>\n LAST WEEKS POLL RESULTS<\/b><\/p>\n We asked “With headline inflation cooling to the lower end of the RBA\u2019s 2\u20133% target band, is it time for the central bank to give us a break?”<\/b><\/p>\n The poll shows 33% said to wait for clarity on trade tensions, 30% warned it could fuel higher house prices, 21% wanted cuts to ease mortgage pressure, and 16% felt the global outlook is still too uncertain.<\/p>\n SEE RESULTS BREAKDOWN<\/a><\/b><\/p>\n Get the Weekend Edition straight to your inbox<\/p>\n Popular and exclusive content from the week sent every Saturday morning<\/p>\n SUBSCRIBE TO TRENDING ON LIVEWIRE – IT’S FREE<\/b><\/a><\/p>\n Other Newsletters across our network<\/p>\n Never miss an update<\/p>\n![\"\"](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/ROI_25_Andrew-Lockhart_WE.jpg\")
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b) Meh \u2013<\/strong> 5-10% feels about right
c) Bearish \u2013<\/strong> flat or negative returns
d) Doesn\u2019t matter \u2013 <\/strong>I diversify and chill<\/p>\n\n