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G'day
This week, Fodder has a "finology"
theme. Finology is a very new term - in short, it is about where
investing meets investors. It's the emerging (and 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. But rather than
just tell you about it, this week's Fodder shows you. First,
Prof Jack Gray writes about the need for us all to
invest in communicating about investing - because as he so
succinctly explains, we do too much reporting and not enough rapporting!
Expanding on Jack's central point, Michael Kitces
provides three very practical finology examples. Angela Ashton
reviews a great introduction to behavioural finance - again, full of
practical examples, this time on
the effect of our behavioural biases on investment portfolios.
And then we highlight another Michael Kitces paper, this one on
using social proof to help clients make better decisions by using
norms that show what is successful investing behaviour.
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To continue your finology
learning,
register for our one-day Finology Forum (19 August), where we'll look in depth at how to better
relate complex investment issues to investors.
All the best for some great
finology learning - Graham
P.S.
Conference early bird registration (incl Finology Forum) ends Thursday
P.P.S.
Speaking
of better communicating investment issues with investors, watch The
Investment Series this Sunday at
8.30pm on Sky Business
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LATEST...
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Invest in communicating about investing
As investment professionals, we live investing every day. We spend
excessive time reporting and not enough 'rapporting.'
Prof Jack Gray, UTS| Opinion
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Where investing meets investors
Three critical and interrelated aspects of practically managing
client portfolios: constructing portfolios using buckets;
diversifying human vs financial capital; and, the Withdrawal Policy
Statement.
Michael Kitces, Pinnacle Advisory Group | Resources
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Behavioural finance vs standard finance
This paper is a great introduction to why behavioural finance is quickly
becoming recognised as a field that can add real value to the wealth
management industry.
Angela Ashton, PortfolioConstruction Forum
| Opinion
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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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RECENTLY...
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Gouging the Gauchos
The recent US supreme court ruling that Argentina's hold-out creditors
have the right to be paid in full is a dangerous decision for all
countries for two reasons.
Nouriel Roubini, Roubini Global Economics| Opinion
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Geopolitical risk - implications for portfolio construction
Do geopolitical events involving potential or actual military
conflict really matter in the constructing of investment portfolios?
Dominic McCormick, Select Asset Management | Opinion
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Evidence for the stability of risk tolerance
The GFC was the first market crisis where good risk profiling tools had
been in place across a wide range of investors. Two recent papers look
at whether risk tolerances altered materially through it.
Angela Ashton, PortfolioConstruction Forum
| Opinion
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PLUS...
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Register now: PortfolioConstruction
Forum Conference (19-21 Aug)
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.
Register now
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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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