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G'day
Brace yourself - this week's
Fodder is a deluge! It brings you all of the plenary presentations
from Markets Summit last week for you to "attend" (the
elective sessions will be live from Monday). Each is a
rapid fire, 20-minute presentation from a member of the Markets Summit
faculty pitching his/her highest conviction idea regarding the impact of
Unconventional Monetary Policy, and the implications for portfolios.
Of course, there's a lot more in this Fodder than you can get through in
one weekend. If you're pressed for time, start with
Angela's pithy summary of The Great Debate, and
then go and "attend" The Great Debate in full. Then, book your diary
for 20 minutes a day for the next few weeks, |
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to "attend" the
rest
of the program. Print this Fodder out and tick off each session as you
complete them. You won't regret investing the time - you'll
gain a baker's dozen of expert, high conviction markets insights for you
to consider applying to your portfolios.
All the best for some great ongoing learning - and for the week ahead - Graham
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Perspectives -
latest |
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Markets Summit 2014 - key takeouts
In a new format for Markets Summit 2014, delegates took the role of CIO
for the day, as the 18 strong presenter faculty made the case for their
highest conviction insights.
Angela Ashton, PortfolioConstruction Forum | Opinion
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Markets Summit 2014 Investment Advisory Board Meeting
Our Markets Summit faculty debated two critical portfolio construction
issues arising from Unconventional Monetary Policy.
Investment Advisory Board
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& Podcast
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Over the wire or under it, the Great Escape will be dangerous
In rapid-fire presentations, 18 experts from various parts of the world
debated the biggest issue facing the financial world.
Greg Bright, Investor Strategy News | Opinion
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Unintended consequences of ultra-easy monetary policy
Today's
long period of very easy money and very low yields has distorted the
financial system. This will cause unintended consequences in the near
future as QE ends.
Dr Woody Brock, SED | Presentation,
Paper & Podcast
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QE and navigating the Great Escape
Most of the world will see an improvement in economic growth this year.
Equities are by far the most attractive asset class - but they will be
much more volatile.
Jonathan Pain, The Pain Report | Presentation,
Paper & Podcast
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Are the Fed and PBoC ahead of or behind the curve?
If the US and China prove to be prescient and 'ahead of the curve',
financial markets will flourish; if they dawdle, we'll see yet another
boom and bust cycle that ends in tears.
Dr Robert Gay, Fenwick Advisers | Presentation
& Podcast
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The sweet spot of the global economy
There is no doubt that some countries are better placed than others in
The Great Escape. In fact, Australia and NZ have the chance to be rock
star economies of the 21st century.
Oliver Hartwich, The New Zealand Initiative | Presentation
& Podcast
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The end of Unconventional Monetary Policy
After a half decade of weakness, robust growth in the US and UK is
setting the stage for unconventional monetary policies to be unwound.
David Hale, David Hale Global
Economics | Presentation,
Paper & Podcast
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Does the end of QE mean the end of the yield play?
Short-term rates are likely to remain low for a prolonged period of
time. Investors will still need to source yield, they'll simply have to
be more creative to find it.
Russ Koesterich, BlackRock | Presentation & Podcast
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Bonds are a cheap insurance policy
Think about bonds as an insurance policy for portfolios. With higher
yields available, very cheap insurance is even better able to pay for
hurdles facing portfolios.
Robert Mead, PIMCO | Presentation & Podcast
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Liquidity surfing to bull running
A rise in US Treasury yields is likely to have a profound impact on
benchmarks. Bonds should remain a critical component of portfolios, but
a more active approach is necessary.
Tai Hui, JP Morgan Asset Management | Presentation,
Paper & Podcast
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The US recovery will surprise on the upside
The US is the critical market of the global economy - and there are
sign-posts that clearly suggest it is ready to surprise on the upside,
with significant implications for portfolios.
Hamish Douglass, Magellan Financial Group
| Presentation,
Paper & Podcast
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Quantitative squeezing - differentiation in EM Investing
Emerging Markets were a focal point in 2013, repricing as US stimulus,
commodity prices and China's boom subsided. In future, EM performance
will depend on individual merit.
Kathryn Koch, Goldman Sachs Asset Management | Presentation,
Paper & Podcast
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The wrong route to the right destination?
We must challenge common assumptions about the US and emerging markets
to ensure we are focusing on the best routes to the right destination.
Ronald Temple, Lazard Asset Management
| Presentation,
Paper & Podcast
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The Aquarium Theory of Investing
Today's world is different from anything in the history of human
capitalism. The Aquarium Theory of Investing is one way to gain
perspective.
Brian Singer, William Blair & Co | Presentation & Podcast
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Calendar of
live programs |
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