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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Wednesday, 22 January 2020

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Open banking reform set for parliamentary appearance

By Cameron Micallef · July 23 2019

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Borrow

Open banking reform set for parliamentary appearance

By Cameron Micallef
July 23 2019

Reading:

Open banking reform set for parliamentary appearance

By Cameron Micallef · July 23 2019

Reading:

The Consumer Data Right legislation that is required for Australia’s proposed open banking scheme is set to be discussed in Parliament this week, marking a “critical step” in ensuring the reform moves forward.

According to Australian Banking Association’s executive director, Christine Cupitt, the legislation is critical in ensuring the reform moves forward and is a safe and secure system prior to its launch next year.

“Giving customers greater access to their data will make it easier and simpler to shop around for a better deal on a credit card, followed by home loans and other banking products,” Ms Cupitt explained.

She noted that open banking will provide customers with an ability to share personal information with accredited institutions such as banks, and enable them to find a better deal on their banking products.

Calling open banking “a win for customers”, the executive director credited the scheme with increasing competition and making it easier for individuals to get the best deal possible from their bank.

She noted that “thorough testing of this regime is vitally important to the success of this reform and to ensure Australians trust and use it”.

Adding to the open banking debate, Experian’s Australia and New Zealand executive general manager of credit services and decision analytics, Poli Konstantinidis, said Australians will benefit from open banking once they are educated on the subject.

“There is an immediate need for improvement in consumer education on open banking and financial literacy through government and industry investment, to ensure open banking is adopted quickly and effectively,” he explained.

According to him, “Australian businesses need to properly prepare themselves for the new shift to a data sharing ecosystem in Australia”.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.