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, (this site) featuring:
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 Friday 13 November 2015

What's going on in your brain?
It's 18 months ago, at Conference 2014, that we introduced Finology to 550 Members via a booked-out Masterclass and our main Conference 2014 program.  Finology explores the relationship between human beings and money in our society. It is the emerging (and converging) research field covering the study of minds, customs and behaviours with respect to money. It incorporates behaviour finance and much, much more. Since then, our aim has been to include Finology perspectives in Fodder whenever possible. This week's "What's going on in your brain" is a great piece (and one you may wish to share with clients to help them understand themselves better). For more on Finology, refer to our growing Finology library and join us for Finology Summit (17 Feb).
All the best for another great weekend's learning - Graham
P.S. Markets Summit (16 Feb) & Finology Summit (17 Feb) registration opens next week.


At the crossroads… Decision making under uncertainty - sensible or senseless?
A clear philosophy is the best basis for making decisions
Having a clear investment philosophy based on our own belief set - a living document that we evolve and sharpen over time - is the best tool to making investment decisions.
Tim Farrelly, farrelly's
0.50 CE Resources

Preparing for Fed lift-off
The Federal Reserve is near-certain to start its tightening cycle on 16 December. Apart from praising Yellen for consistency and foresight (instead of castigating her for confusion and indecisiveness), how should investors react?
Anatole Kaletsky, GaveKal Opinion

Why inflation is lower than you think
Financial pundits routinely claim that US inflation is much higher than the reported statistics. Viewed over the longer term, however, US inflation is far lower than reflected in the published data, according to economist, Dr Woody Brock.
Robert Huebscher, Advisor Perspectives

It's the end of the EU as we knew it
Since Angela Merkel single handedly opened Germany's borders to refugees, asylum seekers, migrants and any other nomads, the continent has been plunged into chaos. It threatens to wreck the EU - or, at least turn it into an entirely different organisation.
Oliver Hartwich, The New Zealand Initiative
| Opinion

What's going on in your brain
We examine four situations where individuals make poor choices and review the research to show where the brain makes those decisions. In each case, we present some ideas about how to overcome the potentially suboptimal choice when it comes to investing.
Michael Mauboussin & Dan Callahan, Credit Suisse
| Research

Member comments
SPIVA comparisons
... Consider the unpublished equivalent statistic that a total of 100%* of index managers underperform after fees. Clearly not doing as good a job as the active managers. 
Aaron Minney, Challenger Comment

Beyond borders
Very interesting presentation - it makes you think about our traditional asset allocation approach and the tools we use for this.
Mark Carroll, Morvest Financial Planning Comment


On asset allocation
While I hope you take the time to read all of Fodder this week, the asset allocation paper by PortfolioConstruction Forum Member, Michael Furey, is particularly innovative. He has replicated the BHB study of 30 years ago on the importance of asset allocation, but with Australian diversified funds - and then he takes things a few steps further, looking at whether active management has added value. It's a great paper.

The importance of asset allocation in Australia
Between 15 and 30 years ago, there were several studies into the importance of asset allocation. Is asset allocation still important today, and in the Australian fund context? How successful is active management?
Michael Furey, Delta Research & Advisory
1.00 CPD Research

From memory to denial in Russia
In Putin's third presidential term, dissidents are routinely dubbed deviants, fifth columnists, and traitors, as the regime leads a drive for national unity based on religion, tradition, and paranoid rhetoric. For the moment, Putinism is the only game in town.
Robert Skidelsky, Warwick University Opinion

Harnessing India’s growth by investing before the crowd
To harness the full potential of India's growth story, investors should seek exposure to India's mid and small cap companies, rather than just the large, liquid companies with significant global revenue bases which dominate benchmark allocations.
Mugunthan Siva, India Avenue Investment Management
  White Paper

Equity - Global
Beyond Borders: Follow the revenue, not the domicile
A better way to evaluate companies and portfolios is to consider where companies do business, not where they are headquartered. It is time to invest beyond borders.
Robert Lovelace, Capital Group
| 0.75 CE | 1 comment | Resources

Infrastructure investing needs a tight definition
Infrastructure has gained greater focus in recent years, with investors drawn to its defensive characteristics. But infrastructure investing requires a tight definition to deliver the defensive attributes that investors are targeting.
Andrew Maple-Brown
, Maple-Brown Abbott | 0.50 CE | White Paper

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