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G'day
This week's Forum Fodder
offers a diverse range of views around markets,
strategies and investing, the three pillars of portfolio construction.
Louis-Vincent Gave
explains why Russia won't let go of Crimea ("reasoned paranoia") and the
fairly black and white investment implications of Putin prevailing.
It's proof positive of the impact of geopolitics on constructing
portfolios.
Dom McCormick makes the case for more global equities exposure,
arguing that the factors supporting a home bias have either partly or
fully reversed, or are in the process of doing so. Angela Ashton reviews a
new research paper from academics Michael Drew and Adam Walk on safe
withdrawal rates in the Australian context. This is the first paper
specific to Australian investors. It's an absolute "must read" for every
practitioner. We also start a series on Finology issues. Finology is the
emerging (converging?) research field covering the study of minds,
customs and behaviours with respect to money, as it applies to the
giving of investment advice. It incorporates behavioural finance, and
much, much more. We kick off with a |
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piece from Michael Kitces, explaining how to use social proof to help
clients make better decisions. Lastly, don't miss this week's
2-minute video on
two reasons why US micro-cap stocks may be a good place to invest for
the next 5-10 years.
All the best for a great weekend's learning, and for the week ahead - Graham
P.S.
Mark Your Diary! PortfolioConstruction Conference 19-21 August.
This year's theme is
Reconnecting the three Rs: Risk & Return (& Relating)
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Perspectives -
latest |
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Russia's permanent interests
If you believe the US State Department has the Crimean situation under
control, plan for a bullish scenario for risk assets. Plan for the
opposite, if you believe Putin will prevail.
Louis-Vincent Gave, GaveKal | Opinion
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Global investing trend has much further to go
Australians are waking up to the fact that they have not had enough
global (mainly equity) exposure. Why the case for more global exposure
now?
Dominic McCormick, Select Asset Management | Opinion
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Safe withdrawal rates in retirement - an Australian perspective
A new research paper looks specifically at withdrawal rates in the
Australian context, confirming the legislated minimums for account-based
pensions are much too high.
Angela Ashton, PortfolioConstruction Forum | Research
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Using social proof to help clients make better decisions
If we're explaining a "norm" to clients that embeds a social proof, we
should be using norms that show what is successful, not describing the
commonality of failure!
Michael Kitces, Pinnacle Advisory Group | Opinion
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Two reasons for US micro-cap stocks for the next 5-10 years
Increasing corporate activity in the US, and a more positive US
macro-economic backdrop make US micro-cap stocks a good place to invest
for the next 5 to 10 years.
Chris Cuesta, Thomson Horstmann & Bryant | Opinion
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Perspectives -
recently |
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Realpolitik in Ukraine
In finance and geopolitics, experience must always prevail over hope,
and realism over wishful thinking. A grim case in point is the Russian
incursion into Ukraine.
Anatole Kaletsky, GaveKal | 2
comments | Opinion
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Markets Summit
Resources Kit - recently |
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There will be no Great Escape without a Great Unwind
To achieve the Great Escape, central banks must first complete the Great
Unwind – the removal of ultra-easy monetary policies. So what is the
roadmap for the Great Unwind?
Tim Farrelly, farrelly's | Presentation
& Podcast
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Can central bankers negotiate the B.U.M.P. without crashing?
Breaking Unconventional Monetary Policy (B.U.M.P.) and it's impact on
global financial stability is the key risk for the foreseeable future.
Nick Bullman, CheckRisk | Presentation,
Paper
& Podcast
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Inflation risk - will QE ruin retirement?
Ultra-low interest rates and QE have offset the deflationary forces of
debt deleveraging. The challenge policy makers face is when to withdraw
the stimulus to avert inflation.
Dr Susan Gosling, MLC | Presentation,
Paper & Podcast
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Is index investing simply a case of indifference?
In a Great Escape world, ignoring the index and actively seeking growth
investments regardless of size or weightings is more important than
ever.
Alex Milton, Novaport Capital | Presentation & Podcast
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Deploying TAA across credit will be critical as QE unwinds
The ability to pick inflection points in markets as well as deploying
TAA across credit will be the key ingredient going forward.
Robert Waldner, Invesco | Presentation,
Paper & Podcast
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Calendar of
live programs |
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Keep up to
date - follow us @PortfolioForum
There's no need to wait until
our weekly Forum Fodder email to know what's new with PortfolioConstruction Forum.
Just follow us on Twitter to hear as soon
as we release new articles on
PortfolioConstruction.com.au and
registration opens for our live programs.
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PortfolioConstruction
Forum Conference - 19-21 August 2014
Since 2002, PortfolioConstruction Forum Conference has gained a
reputation as THE investment conference of the year. Presented in Sydney
each August, it is our flagship program - a jam-packed, marathon
three-day, 25-hour program featuring 40 intensive, objective,
interactive sessions and more than 50 carefully selected local and
international portfolio construction experts. It is a companion program
to the annual Markets Summit held in Sydney each February.
Preview the theme "Reconnecting the three Rs - Risk & Return (&
Relating)"
&
Mark your diary! 19-21 August 2014
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