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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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Big four bank reduces rates

By Cameron Micallef · January 16 2020

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Save

Big four bank reduces rates

By Cameron Micallef
January 16 2020

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Big four bank reduces rates

By Cameron Micallef · January 16 2020

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As financial markets prepare for a likely rate reduction in February, banks are beginning to reduce their rates, with savers ultimately losing, new research has revealed.

Analysis from comparison site Canstar has revealed the big four banks are looking to reduce saving rates out of cycle.

NAB has reduced the introductory rate on its iSaver by 0.15 per cent to a new rate of 1.44 per cent as well as a reduced bonus rate on its Reward Savers account by 0.11 per cent to 1.39 per cent.

Steve Mickenbecker, Canstar’s finance expert, believes this is another blow to long-term savers, as savings rates fall well below inflation.

“This out-of-cycle rate cut was unexpected and positions the overall rate on NAB’s iSaver account between 0.05 per cent and 0.11 per cent below the other major banks. The season of good cheer will be well behind us if the other majors follow suit.”

Rod North, founder and managing director of Bourse Communications, believes these reductions in rates are ultimately forcing consumers into the market.

However, he cautioned investors might not be aware of the additional risk they are taking on.

“A lot of investors do not understand their capital is at risk when they invest in shares even though the return from an income point of view is better.”

“When you move from cash, which is 100 per cent secure, into a sharemarket, nothing is secure,” Mr North explained.

“Before rushing into the market, savers can get a maximum rate available for accounts with an introductory period at 2.65 per cent, with the top bonus savings account earning 2.25 per cent. Savers must start looking at options beyond the obvious,” Mr Mickenbecker suggested.

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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.