Market pricing goes to the heart of everything we do in constructing portfolios. But the risk-free rate is artificial as central bank manipulate interest rates to stimulate economies. The implications for asset allocation are significant.
This Research Roundtable focused on the UBS CBRE Global Real Assets strategy, with 10 senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios. Afterwards, the meeting is truncated and published for on-demand viewing by all members.
These two research papers present insights into how advisers can better assess and guide how clients think about and structure goals - including savings goals.
Somehow the optimal growth/defensive asset split from the 1980s is still considered "balanced" today - never mind that for the first time since the 1930s, the cost of capital is stubbornly static at a negative real return.
In April, I argued equity markets might continue to rally despite the collapse of the world economy. And so they have. But in my 40 years of observing and participating in financial markets, I've learned that August is always a month to watch.
The first All Things Considered webinar was foundational. Our panel of expert portfolio construction practitioners and academics made the case for questioning our investing activities, and identified some “sacred cows” that are most consequential to investment outcomes AND in greatest need of revision.
Sharpe proposed that active investing must be a losing pursuit in aggregate. This paper takes a critical look at that proposition, and whether it is worthwhile considering using active fund managers.
Research finds that SRI funds perform as well as conventional funds, ESG equity investing has outperformed in the US, and controversial stocks do best in crises.
The way investors respond to the language of financial services can be influenced by using the right words, avoiding others, and structuring messages to overcome skepticism.