Columnist Steve Johnson

Commonwealth Bank has clearly improved its strategic position over the past 12 months. With pockets of soothing, almost confident, commentary from management accompanying the latest full year profit result, the spirits of those that prefer to see a

Westfield has earned its reputation as the 'best in the business'. Though billion-dollar losses will grace its scorecard in 2009, its competitive advantage remains firmly intact. Despite our analyst Nathan Bell's passion for investing,

Let's start with some facts. MAp has a management agreement with Macquarie Group whereby it pays the mothership between 1% and 1.5% of MAp's market capitalisation. At today's price, that's more than $40m per year, plus performance

For years we've warned investors to steer clear of Australia's listed infrastructure stocks. The underlying assets were sound but were laden with too much debt, oppressive fee structures and management contracts that encouraged all the wrong

It's hard to overstate the significance of the financial year now drawing to a close. We'll almost certainly never live through another quite like it. The global financial system came close to collapse in September last year. Many of the