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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
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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
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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
| Opinion
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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
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Opinion
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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
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Research
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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 Consider the unpublished equivalent statistic that a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
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RECENTLY... |
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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. |
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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
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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
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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
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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
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0.75 CE
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1 comment
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Resources
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![](/obj/thumbnails/pcf_tn_Andrew-MB_70x70.jpg) |
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
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0.50 CE
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White Paper
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