The global trade game

The US/China trade confrontation is heating up and market analysts are scrambling to figure out what will come next. It's tempting to rely on historical experience but history is likely to be a poor guide.

Mohamed El-Erian More

Research Review: Performance, fees and active managers

Recent research examines the performance of active bond managers, and the impact of performance fees on returns of active equity funds and private equity funds.

Ron Bird1.00 CE More

Understanding how people spend their money in retirement

A retiree's spending will change over time. However, changes in spending profile over time are often ignored when it comes to retirement income planning.

Aaron Minney 2 commentsMore

Sustainability is crucial to infrastructure returns

Infrastructure assets have large environmental footprints. Incorporating ESG factors into the infrastructure investment process can improve risk-adjusted returns.

Rebecca Sherlock More

Disruptive technologies will revolutionise healthcare

Genomic medicine will radically change how diseases are diagnosed and treated. Healthcare valuations do not currently reflect the long-term opportunities in the sector.

Bianca Ogden More

Small caps are thriving in the global upswing

Around the world, smaller companies are benefitting from robust economic growth, low base rates and balance sheet flexibility. Investors should focus on opportunities in Japan and Europe.

Ed Rosenfeld More

Downsize now and rejoice at leisure

Government incentives may help to encourage downsizing but the decision itself may not be purely financial as recent research reveals.

Joanne Earl0.50 CE More

Things (in the economics world) are broken

Every generation or so, things (in the economics world) break. Indeed, the history of the world's international monetary order is a history of change, occurring on average every 40 years. This current system is, therefore, long in the tooth.

Chris Watling0.50 CE More

Revisiting the importance of investment returns in retirement

About 30 years ago, Canadian researcher Don Ezra identified the ‘10/30/60’ rule - in retirement, 10% of income comes from contributions, 30% from earnings on investments before retirement, and 60% from investment earnings accrued after retirement. Does this rule still apply in Australia, given our current economic conditions?

David Knox More

Making the case for sovereign GDP-linked bonds

The time has come for national governments around the world to start issuing their debt in a new form, linked to their countries' resources.

Robert J. Shiller 1 commentMore

Behavioural biases lead to unrecognised risk-taking

Behavioural biases - substitution, aggregation, and feedback risks, overconfidence, and limited attention and availability bias - distort money managers' perceptions and lead them to take risks they don’t see.

Terrance Odean0.50 CE More

Economists vs scientists on long-term growth

Neither policymakers nor markets should bet on the past decade's slow growth carrying over to the next. The best bet is that AI and other technologies will have a much larger impact on growth than up to now.

Kenneth Rogoff More

Diversification - what it is and is not

The concept of diversification may seem to be second nature. However, some of its fundamentals are often misused and sometimes misrepresented.

Michael Furey 1 commentMore

Investors need growth equities as change accelerates

Structural change and the resulting earnings growth will always outrun interest rates in the long run, so as change continues to accelerate, investors need growth equities in their portfolio.

Nick Griffin0.50 CE More

Latest US stimulus is a red flag

There is now a 50% chance that the US Federal Reserve will hike interest rates more sharply than markets expect, leading to a recession in the next one to two years.

Brett Gillespie More

The blockchain pipe dream

It is high time to end the hype. Bitcoin is a slow, energy-inefficient dinosaur. Most of the coins are little different from railway stocks in the 1840s, which went bust when that bubble – like most bubbles – burst.

Nouriel Roubini 1 commentMore

Forum Fodder 13 Apr 2018

This week in Forum Fodder: El-Erian - global trade wars; Rebecca Sherlock – ESG and infrastructure; Bianca Ogden - disruptive tech in healthcare; Aaron Minney - retirement spending; Prof Ron Bird - performance, fees, active managers

Graham Rich, Publisher, PortfolioConstruction Forum More

Mark your diary

2018
20 Mar - farrelly's User Group (Syd)
18-21 Mar - CIMA IMAC (Syd)
11 Apr - Research Roundtable (Syd)
12 Apr - IMR Workshop (Syd)
25 May - Masterclass NZ (Akl)
17 Jul - Research Roundtable (Syd)
18 Jul - Research Roundtable (Mel)
22-23 Aug - Strategies Conference (Syd)
9-12 Sep - CIMA 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)

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2017 Markets Summit - Webcast

Markets Summit 2017 featured a stellar lineup of international and local experts offering their best high conviction idea/thesis on the opportunities and risks ahead as the winds of change sweep through economies and asset classes - and the implications for portfolios.

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2017 Finology Summit - Resources Kit

Finology Summit 2017 featured a stellar lineup of finology experts offering their best high conviction idea/thesis on how the winds of change are impacting how investors think and behave with respect to money, and how we can better relate with them (and help others who must do so).

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2016 Markets Summit - Resources Kit

Markets Summit 2016 featured a stellar lineup of international and local experts offering their best high conviction idea/thesis around the Markets Summit theme - is it deja vu (all over again)? - and the resulting portfolio construction decision(s) that must be made.

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Backgrounder: Cyclical? Structural? Secular?

This Backgrounder defines the terms "cyclical", "structural"" and "secular" and provides examples, in order to increase the clarity of debate about what's really driving markets.

PortfolioConstruction Forum More

2016 Conference - Webcast

Conference 2016 featured a stellar lineup of international and local experts offering their best high conviction idea/thesis around the the friction between short-term and long-term investing imperatives - and the portfolio construction decisions that must be made.

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Conference 2015: the director’s cut

PortfolioConstruction Forum Strategies Conference 2015 featured a carefully selected faculty of more than 35 international and local portfolio construction experts offering their best high conviction ideas about critical portfolio "crossroads". Here are the highlights.

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Backgrounder: The long and short of it

Managing the fundamental friction between short-term and long-term investing imperatives is a key challenge when building portfolios. This Backgrounder explores some of the key concepts and debates.

PortfolioConstruction Forum More