Forum Fodder

PortfolioConstruction Forum

 

Our regular Forum Fodder email alerts Members to what's new on this site and with our live professional development progams. A sample of the Forum Fodder email is below.  Become a Member (with our compliments) to receive Forum Fodder and access our multi-media learning centre, PortfolioConstruction.com.au (this site) featuring:
- Resources Kits - videos and podcasts of the sessions and accompanying papers from our live programs;
- Perspectives library - exclusive interviews, research papers, white papers, opinion papers and special interest
   subscription services from local and international investment professionals and subject matter experts; and,
- CPD Campus - our online portfolio construction learning and accreditation resource.


 


 Friday 26 September 2014

The independent professional development service for investment portfolio construction practitioners

G'day

This week's Fodder highlights five of the 10 highest rated sessions from our recent PortfolioConstruction Forum Conference - Risk and Return (& Relating). First up is entertaining economist, London-based Chris Watling, who shows why record low levels of volatility - while natural for this stage of the cycle - should be feared rather than embraced. Ex Harvard prof, Ryan Taliaferro, explains an approach to decoupling risk and return to reduce portfolio risk without reducing average return. Psychologist Dr David Lazenby - who consults to The Federal Reserve and sits on three HNW investment committees i.e. he "gets" our world - explains why all practitioners, whether investor facing or not, need to learn to give positive Return on Attention, Intimacy and Empathy if they want their messages to hit home. Sanjay Natarajan argues that investors' increasingly short-term psyche has one benefit - it creates a time arbitrage opportunity for those with longer investment time horizons. Lastly, while each of the Conference sessions can stand alone perfectly well, starting

 with my Conference introduction will help tie them all together so that the sum is greater than the parts.
All the best for some great weekend learning - Graham
P.S. The Conference Resources Kit is now available and each week going forward, we'll include a Conference session or two in our regular "mixed bag" Fodder.

LATEST...

Quiescent markets – why is volatility so low?
With global volatility at multi decade lows, the critical question is should we be worried or relaxed? What next? In fact, quiescent markets should be feared, not embraced.
Chris Watling, Longview Economics
Resources

Reconnecting the three Rs - Risk & Return (& Relating)
The last decade has seen a distinct disconnect between investment risk and return, versus what we're taught should be the case.
Graham Rich, PortfolioConstruction Forum
Resources

Risk & return: Two investment approaches
If risk and return are imperfectly linked, there is opportunity to increase average return, without increasing risk - particularly in equity markets where risk is mispriced.
Ryan Taliaferro, Acadian Asset Management
Resources  

The power of the 3rd R
To flourish in the robo-advice era, portfolio construction practitioners must provide clients with a positive Return on Attention (ROA), Intimacy (ROI) and Empathy (ROE).
Dr David Lazenby, ScenarioNow Inc
Resources

Lengthening the investment time horizon
Company fundamentals don't change nearly as much as equity market prices - and therein lies an opportunity for investors with a longer-term view.
Sanjay Natarajan, MFS Investment Management
Resources

RECENTLY...

Slick LICs
IPOs of LICs continue. But LICs have unique challenges and complexities that make them a complicated investment decision - which is certainly not the way they are marketed.
Dominic McCormick, Select Asset Management
Opinion 9 comments

A return to valuation-driven markets
Over the next year or two, asset prices will no longer be driven by economic stats and monetary policy. Three major rotations are likely to continue and gather pace.
Anatole Kaletsky, GaveKal
Opinion  

Dysfunctional risk and return
In many cases, fundamental risk and return characteristics have been shown the door as funds have flowed into perpetually lower yielding income asset classes.
Mark Kiesel, PIMCO
Resources  
*** One of the top 10 rated sessions at Conference 2014 ***

Finding smart beta in the factor zoo
This paper argues that to make choices regarding smart betas we must first assess whether they're robust. Luckily, it concludes, most so-called factors can be ignored.
Angela Ashton, PortfolioConstruction Forum
Research

The big differences with EM debt
EM debt is a relatively new asset class. In liquid format, it's only been around for about 20 years - and the most attractive part of the EM debt market has yet to re-rate.
Arif Joshi, Lazard Asset Management
Opinion

PLUS...

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