|
G'day
This week's Fodder features the top rated session
from our recent Symposium NZ program - Professor Jack Gray
explaining
how to tell whether a manager has or will add value. With 97% rating
the session good (30%) or excellent (67%), you shouldn't miss it. On a
related note,
the full Resources Kit of videos, presentations, podcasts and papers is
available to all Members. Whether you attended or not, you have full
access to the Resources Kit so you can "attend" all 17 sessions online.
Book your diary for 20 minutes a day for the next few weeks (there's far
too much to get through in one sitting). You won't regret making time -
you'll take away a baker's dozen of expert, high conviction ideas to
consider applying when building portfolios. Meanwhile, Michael Kitces reviews
the latest research on retirement spending, concluding that traditional
safe withdrawal rate approaches may be overestimating funds needed to
retirement by up to 20%. That's good news for baby boomers whose
assets were hit by the GFC. Tony Vidler notes that new FMA CEO Rob
Everett's introductory briefing contained
two clear warnings on adviser behaviour. Bob Huebscher, of US-based
Advisor Perspectives, has summarised a keynote address from Kyle Bass
(famous for predicting the US sub-prime crisis) from the recent |
|
 |
Mauldin Conference. As you'll read,
Bass is very bearish on Japan (and not much more positive on China).
Lastly, we profile
Russ Koesterich's very popular Markets Summit 2014 session on
whether QE
means the end of the yield play.
All the best for a great weekend's learning -
Graham
P.S. Don't forget to book your
diary to "attend" Symposium
via the online Resources Kit!
|
|
LATEST...
|
|
 |
How to judge the likelihood a manager will or has added value
There's some evidence that some managers can add (relatively)
consistent value net of costs. Can we (or anyone) identify them?
Prof Jack Gray, UTS | Resources
|
|
 |
Changes in retirement and the retirement spending smile
Most research assumes retirees maintain a consistent standard of living.
A new study disproves this, implying we may be overestimating funds
needed to retire by up to 20%.
Michael Kitces, Pinnacle Advisory Group | Opinion
|
|
 |
Behaviour in the spotlight
New
NZ FMA CEO, Rob Everett, gave an interesting briefing by way of
introduction. It contained two strong warnings focused on adviser behaviour.
Tony Vidler,
Strictly Business | Opinion
|
|
 |
Kyle Bass: The looming crises in Asia
Nobody is more outspokenly bearish on Japan than Kyle Bass. He recently
reiterated his doubts on Japan's chances of averting a debt crisis, and
cast doubt on China's economy.
Robert Huebscher, Advisor Perspectives | Opinion
|
|
 |
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 | Resources
* Rated "very
good " by
Markets Summit 2014 delegates.
|
|
RECENTLY...
|
|
 |
The democratic disruption of finance
Having redefined media, technology, the Internet and social media
will soon likely start transforming how capital is mobilised and
allocated.
Mohamed El-Erian, Allianz | Opinion
|
|
 |
A tale of two sharemarkets
Often, the true dangers reside where investors are most comfortable
going and the best opportunities are where investors fear to tread.
Dominic McCormick, Select Asset Management | Opinion
|
|
 |
Longevity risk aversion and safe withdrawal rates
There are a huge variety of different ways to think about retirement
income strategy. This paper introduces "longevity risk
aversion" and its impact on safe withdrawal rates.
Angela Ashton, PortfolioConstruction Forum | Research
|
|
 |
The investor's challenge
Whatever return forecasts you make will be wrong - so you better have a
portfolio that has the opportunity to make money in a very broad
spectrum of investment outcomes.
Guy Stern, Standard Life Investments | Opinion
|
|
 |
The Aquarium Theory of Investing
Normal is not our experience - 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 | Resources
* Rated "very good" by
Markets Summit 2014 delegates
|
|
 |
Other good reads
Capital in the Twenty First Century
- The Economist does us all a favour and summarises the surprise
700-page best seller (currently No 2 on the Amazon best seller list),
Thomas Piketty's new economic treatise. It explores global inequality
since the beginning of the Industrial Revolution and whether current
trends will continue. Some say it will shape future economic policy.
Or catch this interview with Piketty for more insight.
|
|
PLUS...
|
|
 |
Symposium NZ 2014 - Resources
Kit
The most successful Symposium
program
yet (96% of delegates rating it good or excellent, the 2014 program
featured an outstanding Faculty of 15+ international and local
investment professionals presenting on contemporary and emerging
portfolio construction issues. Whether you attended Symposium 2014 or
not, this Resources Kit will challenge and refresh your portfolio
construction thinking,
giving you a baker's dozen of expert, high conviction ideas to consider
applying when building portfolios.
|
|
 |
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.
|
