Back to the original post in this thread a SMSF is not fully self managed if there are restrictions on what companies you can invest in. Nor is it self managed if they manage the ever increasing compliance matters for you and charge like wounded bulls for the privilege.
The bigger they are the harder they fall. That's and old saying that is largely ignored [pun intended] by an industry that thinks large = non spec and small = spec. Ask some WOR holders who purchased a decade ago @ $48 whether their $11 stock is a spec. Many so called blue chips have halved or quartered their prices in recent years BUT the industry pretends they are not spec.
All investments are spec. Even the AUD is riding on a spec high ATM.
The idiotic tax incentives that favour investing in local dividend paying stocks absolutely ensures that 90% of players are all invested in a tiny speculative pool within the ASX. As soon as one of many economic oscillations takes the local market out of its tolerance zone something will go pop and the real estate bubbles will follow suit. Nobody can say when this will happen ..... only that it will.
With this in mind I personally like ASX stocks that have diverse overseas income streams and good business models that incorporate some high level risk management. Such investments may avoid the chorus when it sings we'll all go down together....... but of course there are no guarantees beyond death and growing taxes on super.
