Look beyond the yield

Over the years, many people have asked me about buying property. “Should I buy one expensive property or two or more less expensive properties?” It’s a difficult question that requires quite a lot of analysis to make the right decision. But I can help provide the steps of analysis an investor should take when considering what to do.

I spent almost seven years as a stock analyst, early in my career, at the Chicago-based research firm Morningstar, working out of its Sydney office and covering a range of stockmarket-listed companies. It was a humbling experience and one that, in hindsight, was the best training ground for building an investment framework, which I have used in my career ever since.

A stock analyst studies different companies throughout the day and writes up their research to help people decide where to invest. These are typically