Episode 157: Templeton’s Chart: How to Invest When Everything Is Expensive

<p>Steve and Tom are flying without Jacob this week, covering the week ending 16 October 2026.</p><p>They open with the French supermarket chain whose freezers went from minus five to fifty degrees, blamed on a cyber attack and actually caused by software nobody bothered to update, then the Norwegian army’s Hertz hire cars and what the data trail says about how little of modern life we actually control. From there: French borrowing costs at their highest since 2002 with debt near 300 percent of GDP and no eurozone bailout coming, why Australia’s government debt is among the lowest in the developed world and what that means for an economy leaning on private borrowing, unemployment ticking up to 4.6 percent, and an ASX that has gone precisely nowhere all year.</p><p>The second half is the one to stay for. Steve walks through John Templeton’s dynamic allocation framework: more in stocks when markets are cheap, less as they get expensive, and what that implies with the CAPE sitting at 42. Plus why ugly and cheap usually beats comfortable and expensive, why rebalancing needs a cash buffer, and the Brazil trade that took four years to go nowhere.</p><p>There are charts this week, so grab the document in the show notes.</p><p>Signals &amp; Noise Premium: <a href="https://www.totalmoneymanagement.com.au/offers/UoT6mohZ/checkout" rel="ugc noopener noreferrer" target="_blank">https://www.totalmoneymanagement.com.au/offers/UoT6mohZ/checkout</a><br />Find your investor personality: <a href="https://www.totalmoneymanagement.com.au/Enneagram-types" rel="ugc noopener noreferrer" target="_blank">https://www.totalmoneymanagement.com.au/Enneagram-types</a><br />Everything else: <a href="https://www.totalmoneymanagement.com.au/" rel="ugc noopener noreferrer" target="_blank">https://www.totalmoneymanagement.com.au/</a><br />Questions: <a href="mailto:support@totalmoneymanagement.com.au" rel="ugc noopener noreferrer" target="_blank">support@totalmoneymanagement.com.au</a></p><p>This podcast is for informational purposes only and does not constitute financial advice. Total Money Management | AFSL 568642.</p>