Self-fulfilling financial crises

Since the global financial crisis, people have searched in vain for a more productive integration of finance, behavioral economics, and macroeconomics. The publication of a new book gives hope yet.

J. Bradford DeLong More

In this tug-of-war market, you need a bet each way

The world is getting very interesting. Two strong forces - the US economy accelerating vs tariffs getting bigger - are creating a tug of war that means you need to have a bet each way.

Brett Gillespie More

5 essential issues - managed account vs managed fund

There is no silver bullet to portfolio implementation. Both managed funds and managed accounts can provide a more streamlined and sophisticated portfolio implementation solution – and both have pros and cons.

Annika Bradley 1 commentMore

Research Review: Asset management, overconfidence and market discipline

Two recent research papers on investment management look firstly at the implications of overconfident managers and, secondly, at career risk associated with poor investment performance.

Ron Bird1.00 CE More

Capturing future earnings upgrades leads to outperformance

Businesses adapting successfully to disruption exist across all industries and can be identified irrespective of prevailing market conditions. Finding those with improving earnings outlooks can deliver a future proofed portfolio.

Nikki Thomas0.50 CE More

Cyber conflict is a threat (to future-proof portfolios)

In the cyber world today, we are somewhere around World War I. There are more than 30 nations with effective cyber forces. Practitioners need to understand the threat cyber weapons pose to markets and investments.

David Sanger1.00 CE More

Future proofed portfolios need growth equities

Investors should learn the lessons of history. Looking beyond near-term valuation multiples can help identify the next great winners and also help avoid the losers. Without growth investing, a portfolio is only focusing on only one side of the equation.

Nick Griffin0.50 CE More

Building future-proof portfolios requires emotional agility

The future is, by definition, uncertain, as are financial markets. To prosper in such an environment, we need to be emotionally agile in order to align our values and actions and, in turn, help investors achieve their financial goals.

Susan David0.75 CE More

Capturing future earnings upgrades leads to outperformance

Businesses adapting successfully to disruption exist across all industries and can be identified irrespective of prevailing market conditions. Finding those with improving earnings outlooks can deliver a future proofed portfolio.

Nikki Thomas0.50 CE More

Why we get it wrong - culture not companies dictate trends

Investors need to entirely rethink their processes, assumptions and research approach, to focus on the cultures of consumers in different markets. Only by thinking like new brands themselves, can investors identify and invest in the next powerful emerging trend.

Tassos Stassopoulos0.50 CE More

Impact investing is the way of the future for fixed income

The impact investment market is growing. There is growing evidence that investing for return while generating a positive impact is a holistic way to create portfolios that are fit for the future.

Stephen Fitzgerald0.50 CE More

The tech revolution will radically change how the economy works

The Australian (and global economy) is facing decades of significant technological change that will reshape how we work, where we work, and how we relate to each other economically and politically.

Chris Berg0.25 CE More

A borderless approach delivers better EM investment outcomes

The investment opportunity in EM is greater than just the companies domiciled there. In essence, investing in global growth should not simply be defined or determined by where a company receives its mail.

Andy Budden0.50 CE More

Valuation mistakes will prove very costly in a post QE world

Future proofing portfolios is a difficult task, due to today’s demanding valuations and because the future is intrinsically unknowable. There are no set-and-forget strategies in a world of ever-changing prices.

Philipp Hofflin0.25 CE More

Owner-managed companies are the backbone of a good portfolio

Research shows that owner-manager businesses reward their long-term (non-family) investors because they instill a stability, a culture, and a focus that is geared towards the long term.

Matt Williams & Emma Goodsell0.50 CE More

The myth of secular stagnation

There are many lessons to be learned as we reflect on the 2008 crisis, but the most important is that the challenge was – and remains – political, not economic. Secular stagnation was just an excuse for flawed economic policies.

Joseph Stiglitz 3 commentsMore

Find me some uncorrelated assets!

In the 1950s, Markowitz showed that low or negative correlation is the secret sauce that makes diversification work. While his maths stacks up, the way it is often abused, does not.

Tim Farrelly 7 commentsMore

Today’s flattening yield curve: what does it imply?

The fallacy that an inverted yield curve "predicts" the onset of recessions is alive and well. Many investors believe the curve will invert in 2019, precipitating a recession. But a flattening of the yield curve need not imply a recession.

Woody Brock More

The makings of a 2020 recession and financial crisis

As we mark the decennial of the collapse of Lehman Brothers, there are still ongoing debates about the causes and consequences of the GFC. By 2020, conditions will be ripe for a new financial crisis.

Nouriel Roubini More

The Forum releases its submission to the FASEA CPD proposal

Portfolio Construction Forum's 23-page submission to FASEA in response to its proposed guidance on future CPD explains why the proposal is fundamentally flawed, and falls well short of any reasonable community expectation of FASEA and what drove its formation.

Graham Rich 1 commentMore

Forum Fodder 22 Oct 2018

This week in Forum Fodder: Prof J Bradford DeLong - Self-fulfilling financial crises; Brett Gillespie - In this tug-of-war market, you need a bet each way; Annika Bradley - 5 essentials: managed account vs managed fund; Prof Ron Bird - Asset management, overconfidence and market discipline; Nikki Thomas - Capturing future earnings upgrades leads to outperformance.

Graham Rich, Publisher, PortfolioConstruction Forum More

Mark your diary

*** 2018 ***
27 Nov - Research Roundtable (Syd)
28 Nov - Research Roundtable (Mel)

*** 2019 ***
19 Feb - Markets Summit (Syd)
20 Feb - Finology Summit (Syd)
12 Mar - farrelly's User Group (Mel)
13 Mar - farrelly's User Group (Bne)
26 Mar - farrelly's User Group (Syd)
17-20 Mar - IMAC (Syd)
02 Apr - Research Roundtable (Syd)
03 Apr - Research Roundtable (Mel)
16 Apr - IMR Workshop (Syd)
16 May - Masterclass NZ Dinner (Akl)
17 May - Masterclass NZ (Akl)
23 Jul - Research Roundtable (Syd)
24 Jul - Research Roundtable (Mel)
21-22 Aug - Strategies Conference (Syd)
08-11 Sep - IMAC (Syd)
19-20 Sep - IMR Conference (Syd)
19-26 Oct - Research Roundtable Intl (US)
26 Nov - Research Roundtable (Syd)
27 Nov - Research Roundtable (Mel)

*** 2020 ***
18 Feb - Markets Summit (Syd)
19 Feb - Finology Summit (Syd)
10 Mar - farrelly's User Group (Mel)
11 Mar - farrelly's User Group (Bne)
19 Mar - farrelly's User Group (Syd)
15-18 Mar - IMAC (Syd)
28 Apr - Research Roundtable (Syd)
29 Apr - Research Roundtable (Mel)
07 Apr - IMR Workshop (Syd)
21 May - Masterclass NZ Dinner (Akl)
22 May - Masterclass NZ (Akl)
21 Jul - Research Roundtable (Syd)
22 Jul - Research Roundtable (Mel)
19-20 Aug - Strategies Conference (Syd)
06-09 Sep - IMAC (Syd)
17-18 Sep - IMR Conference (Syd)
17-24 Oct - Research Roundtable Intl (US)
24 Nov - Research Roundtable (Syd)
25 Nov - Research Roundtable (Mel)

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