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

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

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

Research Review: Small portfolios are beautiful

Markowitz informed us of the risk-reduction advantages of diversification. But just how diversified does an investor have to be to realise almost all of the benefits of diversification?

Ron Bird1.00 CE More

Bonds are no longer a reliable risk diversifier

Simply holding bonds no longer diversifies an investment portfolio, with genuine risk diversification better achieved by exploiting currently under-priced risk premia in volatility and inflation markets.

Gopi Karunakaran0.25 CE More

FASEA proposals fail to address the P and D of CPD

FASEA's proposed CPD standards will fail to lift the educational standards required of an emerging profession, as they only address the 'Continuing' aspect of CPD, and ignore the crucial 'Professional' and 'Development' elements.

Graham Rich More

Investment crystal balls broken or imperfect

Investors have long relied on two crystal balls when predicting future returns: equity risk premium and the yield curve. Crystal balls have their place, so long as they are combined with an uncommon degree of common sense.

Amin Rajan More

Future-proof portfolios are entirely achievable

Future-proofing isn’t about guaranteeing an outcome. No strategy can do that. It's about implementing strategies today that increase the likelihood that multiple objectives, often with different time horizons, can be all achieved.

Rudi Minbatiwala More

A future proof portfolio should guard against pessimism

There will always be movements in markets that we need to be attentive to, and you should construct a portfolio that takes advantage of fear. But don't let that fear drive the dominating principles in your portfolio construction.

Tony Crescenzi More

Electric vehicles are not game changing

Consensus appears to assume that electric vehicle adoption rates will increase dramatically. This view is misplaced. The impact on the oil price and equity market leadership is not something that investors are positioned for.

Stephen Anness0.25 CE More

QE turns 10

November 2018 will mark the tenth anniversary of quantitative easing - undoubtedly the boldest policy experiment in central banking modern history. There are five key lessons learned from QE.

Stephen Roach More

Just how dumb are the bond markets?

If US bond rates go higher from here, it is likely to be in response to something we don't yet know, rather than what is already out there. Markets are not nearly as dumb as many suggest.

Tim Farrelly 2 commentsMore

The assumption of unendingly low interest rates is dangerous

Investors should focus more than ever on uncovering sources of idiosyncratic alpha, rather than relying on momentum or passive beta.

Jacob Mitchell0.25 CE More

Does fixed income still diversify portfolio risk?

Re-evaluate the conventional assumption that owning government bonds is inherently defensive and risk diversifying. At best, it's an expensive choice and at worst, it won't work.

Gopi Karunakaran More

Forum Fodder 17 Sep 2018

This week in Forum Fodder: Nouriel Roubini - The makings of a 2020 financial crisis; Tassos Stassopoulos - Culture not companies dictate investment trends; Graham Rich - the Forum’s submission to FASEA on CPD; Ron Bird - Small portfolios are beautiful; Gopi Karunakaran - Bonds no longer a reliable risk diversifier.

Graham Rich, Publisher, PortfolioConstruction Forum More

Mark your diary

*** 2018 ***
22-23 Aug - Strategies Conference (Syd)
09-12 Sep - IMAC (Syd)
20-21 Sep - IMR Conference (Syd)
13-20 Oct - Research Roundtable Intl (US)
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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