Columnist Steve Johnson

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

'The vast majority of defensive businesses look expensive today. They're expensive in their own right, but particularly so relative to the value on offer elsewhere. Those seeking security in recognised defensive businesses are missing better

Telstra's shareholders have benefited from the company's monopoly position for more than a decade. That could change with the stroke of a pen. On closer analysis, the difference between Trujillo and his predecessors has been more stylistic

There were some winners out of last night's budget. Leighton Holdings would presumably be pretty happy with the amount of construction work slated for the next five years. And Primary Health Care, Sonic and Healthscope were probably expecting

How are you feeling? No doubt you're battered and bruised by the market's relentless attack on your share portfolio over the past year. We've heard stories of investors, mentally unable to deal with the reality of a decimated portfolio,