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LATEST... |
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Faith in central bank omnipotence is fading fast
Markets have a
habit of coming along and kicking you in the teeth when
you least expect it - and often when you are most
confident you know what you are doing. The bull market
in central bank omnipotence is probably over..
Dominic McCormick, Select Asset Management
| Opinion
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Crisis and complexity
Crisis and Complexity explores over a dozen economic and
financial catastrophes since 1720, focusing on both the
unique characters and historical events that shaped each
crisis as well as their common recurring pattern.
Ross Barry, First State Super
| Opinion
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At the crossroads... Retirement income certainty - is it
an oxymoron?
3 strategies to manage retirement income uncertainty
The danger that
“sequence of return risk” can devastate a retirement
portfolio is both increasingly recognised and frequently
misunderstood. Three concrete, research-driven
strategies can help manage it.
Michael Kitces, Pinnacle Advisory Group
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1.00 CE
| Resources
* Rated
in the top 10
of 40 presentations by Conference 2015 delegates
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A widely accepted portfolio construction flaw
The typical approach to portfolio construction in the
world of financial planning is a two-step process
encompassing asset allocation and investment selection.
It is the second step where a major flaw exists.
Michael Furey, Delta Research & Advisory
| Opinion
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In defence of manager research
Three Oxford University professors wrote a research
paper in 2013 severely criticising consultants for
failing to pick winners via their fund manager research.
The New York Times picked it up. But the fact that
consultants couldn't identify gold medal winners in
advance doesn't matter. Consistent silver is better than
occasional gold.
Don Ezra, Russell Investments
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Opinion
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Member comments
Thanks for responses
I don't think I was implying that they're holding onto
assets at all...
Michael Furey, Delta Research & Advisory
| Comment
FOFA considerations
One of the big problems confronting advisers today is
the massive level of compliance in relation to fund
switching
etc, under the FOFA rules.
Steve Blizard, Roxburgh Securities
| Comment
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RECENTLY... |
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The Fed throws EMs a lifeline
Yellen has confirmed what should have been obvious all
along - the Fed is not indifferent to international
financial stress and its risk management approach
remains strongly biased in favour of "lower for longer".
But four things about US monetary policy are frequently
misunderstood.
Anatole Kaletsky, GaveKal
| Opinion
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What do 1987, 1998, 2005 and 2015 have in common?
In all of 1987,
1998, 2005 and 2015, the US economy was close to full
employment, inflation was tame, commodity prices low,
EMs were under financial strain, volatility roiled
financial markets, the US dollar was strong, and US
monetary policy was excessively generous. And what
followed?
Dr Robert Gay, Fenwick Advisers
| Opinion
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Crossroads... Alpha & Smart Beta… fact, fallacy or
fantasy?
After wasting the Goldilocks Era, EM are at a crossroads
EM policymakers
have wasted their commodity-fueled Goldilocks Era and
are sitting at a crossroads. Without a dramatic policy
shift, EM are a value trap, if not an outright bubble.
Marko Papic, BCA Research
| Resources
* Rated
in the top 5
of 40 presentations by Conference 2015 delegates
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Investing around human capital
Focusing on a client's investment portfolio alone
ignores their greatest asset - their ability to continue
earning income through the fruits of their labor, also
known as their "human capital". Deciding how much risk
to take with financial capital given a client's human
capital risks is crucial.
Michael Kitces, Pinnacle Advisory Group
| Opinion
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The boutique premium
While the debate
over the value of active investment management has
intensified in recent years, the outperformance of
boutique managers over non-boutiques and indices has
been overlooked.
Affiliated Managers Group
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0.75 CE
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Paper
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Opportunity in turmoil
Turmoil often provides a fantastic opportunity to
reassess one's portfolio - and we're currently going
through exactly such turmoil. The question is: what are
the critical issues that investors should focus on as
they rethink portfolio positioning today?
Vadim Zlotnikov, AB Global
| Opinion
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Member comments
Real Return funds…lacking reality?
Michael, I'd agree that CPI + 5% is certainly a tough
target, and even more so in this current environment...
Andrew Ash, Wealth Market
| Comment
Real Return funds…lacking reality? Or are they?
David and Andrew have put it almost exactly how I would
put it. Michael, your article implies that the Objective
Based investment funds are doing nothing more that
holding on to assets...
Paul Hodson, Abbotts Wealth Management
| Comment
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