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G'day
This week, Fodder offers six new perspectives - we usually try to keep
it to five a week, but sometimes there's just too many good pieces to
resist. To kick off, Harvard's Ken Rogoff asks
"Is the era of high inflation gone forever?" arguing that
inflation is not dead, merely dormant. Long serving
journo, Greg Bright,
offers his key takeouts from our recent Conference
2014, linking it all to Richard Nixon and the modern classic "Zen
and the Art of Motorcycle Maintenance" - don't ask, you have to read
it! Tim Farrelly shows
why Australian term deposits are an area ripe for finding opportunities
to add value for clients and how easy it is to work out which
to buy. You don't have to be a quant geek to do it. (Speaking of quant
geeks) Michael Furey explains in non-quant terms
where he thinks the new wave of unconstrained bonds funds fit in a portfolio,
while Anatole Kaletsky argues that
a big correction in equities is unlikely to be caused by monetary policy
expectations. Lastly, our accredition manager,
Angela Ashton, reviews the latest paper
from Professor Robert Merton
in which he discusses
the "crisis" in retirement planning, and how best to structure
portfolios with investors so they "own" and |
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understand how to plan for
retirement in a defined contribution world. His solution is implementable by
regular practitioners (and has interesting tie-ins
to the concepts discussed in last week's
Finology Backgrounder).
All the best for some great
weekend learning - Graham
P.S. Conference 2014 Resources Kit (videos, ppt, papers, etc) will be
live from Monday.
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LATEST...
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The exaggerated death of inflation
Modern central banking has worked wonders to bring down inflation.
Today, high inflation seems remote. But inflation is only dormant, it is certainly not dead.
Kenneth Rogoff, Harvard University
| Opinion
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The Zen of risk parity and Richard Nixon's surprise benefit
What do Richard Nixon, novel "Zen and the Art of Motorcycle
Maintenance", and Bridgewater Associates have to do with risk parity
investing and Conference 2014?
Greg Bright, Investor Strategy News
| Opinion
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Making the right call on Term Deposits
Are Term Deposits the most boring subject in finance? Actually, they're
anything but. The Australian TD market is an area where it is easy to
add demonstrable value for clients.
Tim Farrelly, farrelly's
| White
Paper
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Monetary policy is no threat to markets
A big correction in
equities, if it hits in the next year or two, is unlikely to be
caused by monetary policy expectations.
Anatole Kaletsky, GaveKal | Opinion
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Ramblings about unconstrained debt funds
Unconstrained debt strategies are flavour of the month, and likely to be
very popular amongst investors for several reasons. But where do such
funds fit in a portfolio?
Michael Furey, Delta Research & Advisory
| Opinion
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The crisis in retirement planning
Robert Merton, 1997 Nobel Prize winner, recently penned an article
about his views on retirement planning. There are some interesting take aways for Australian practitioners.
Angela Ashton, PortfolioConstruction Forum
| Research
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RECENTLY...
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Backgrounder: Finology - where investing meets investors
This Backgrounder introduces
the most important ideas within the emerging (and converging)
research field that is finology, and some of applications to
managing client portfolios.
PortfolioConstruction Forum | White
Paper
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5 key takeouts: Conference 2014 Finology Forum
Last Tuesday, as the first day of our annual Conference program, we
hosted the first annual Finology Forum. Our particular focus of finology
was as it applies to the giving of investment advice.
Angela Ashton, PortfolioConstruction Forum
| Key
takeouts
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Russia's Eurasian vision
The escalating conflict in
Ukraine has focused attention on a fundamental question: What are
the Kremlin's long-term objectives?
Nouriel Roubini, Roubini Global Economics | Opinion
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Opportunities and challenges in a less US-centric world
We've come to accept a world where the US drives what happens in the
global economy and markets. But that's changing - with significant
implications for portfolios.
Dominic McCormick, Select Asset Management
| Opinion
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The global obsession with US data
Since 2010, there has been an almost perfect correlation between the
strength of the US economy and stock markets outside the US. But
this is set to diminish.
Anatole Kaletsky, GaveKal
| Opinion
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Shiller CAPE - terrible but valuable
After two decades of elevated earnings and P/Es (and two bear
markets but also three astonishing bull markets) many are
questioning whether Shiller CAPE is that predictive.
Michael Kitces, Pinnacle Advisory Group
| Opinion
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PLUS...
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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
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registration opens for our live programs.
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