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Friday 17 June 2016

Specialist, independent investment continuing education & certification for portfolio construction practitioners

Portfolio rebalancing, bear markets, the X factor, Namibia & inflation
This week, Michael Kitces challenges the conventional wisdom of rebalancing portfolios at time intervals, advocating relative rebalancing bands instead (it's a lot simpler than that sounds). On the finology front, Bob Veres looks at how to stop clients' primative flight instincts overruling their rational mind during the stress of a bear market. BlackRock's Charlie Lanchester explains "the X factor" of Australian equity investing. Then hot on the heels of last week's piece from Oliver Hartwich on 'Africa rising', Columbia University's Joseph Stiglitz will further challenge your perspective, showcasing Namibia. Finally, don't miss Christian Hawkesby's top 10-rated presentation from Symposium on why inflation should be the most important macro indicator on our radars.
All the best for a great weekend's continuing education - Graham
P.S. Registration for PortfolioConstruction Forum Conference 2016 (24/25 August) opens next week.


Finding the optimal rebalancing frequency
How often should a portfolio be rebalanced? Rather than the conventional wisdom of rebalancing at fixed time intervals, a superior methodology is tolerance band rebalancing.
Michael Kitces, Pinnacle Advisory Group |
0.50 CE | Research

How to psychologically prepare clients for bear markets
The next bear market will come - and none of us can predict the hour or day. Preparing clients for bearish times may be more important than portfolio design. But how?
Bob Veres, Inside Information |

The Australian equities X factor
Everybody is an Australian equities expert, understandably so for those who live in Australia. But the X factor in Australian equities portfolios is concentration risk.
Charlie Lanchester, BlackRock |

Learning from Namibia
Since winning independence from South Africa in 1990, this country of 2.4 million people has achieved enormous gains, especially in the last couple of years.
Joseph E. Stiglitz & Anya Schiffrin, Columbia University |

Right now inflation is the most important macro indicator
Central bankers successfully tamed inflation in the late 1980s and early 1990s. Persistently low inflation is the new problem. With markets complacent about the inflation outlook, signs of inflation could create a scare.
Christian Hawkesby, Harbour Asset Management |
* Rated in the top 10 presentations by Symposium 2016 delegates

Member comments

Long-term investment returns
Hi Dom - Thanks for a thought provoking article. We live in interesting times and it is rewarding to work with investors during such times. I believe that (extremely) low returns on safe assets is fine...
Mark Hayden, Hayden Financial Services |

Geo-politics - Growth of Democracy
This is an optimistic assessment of the world: people use the Internet to become better informed and so there is a spread of democracy. Maybe.
Dr Keith Suter, Global Directions |

Geo-politics - Universal Basic Income (UBI)
The UBI debate is gaining traction. I have been a supporter of it for many years. But it is a hard sell...
Dr Keith Suter, Global Directions |


Challenges in building portfolios today (and what to do)
The current investment environment is arguably one of the toughest ever in which to build portfolios that deliver return and are robust into the future. There are a range of approaches that can be taken
Dominic McCormick, Select Investment Partners
 1 comment | Opinion

Populists and productivity
The view prevailing in Silicon Valley and other global technology hubs is that we are entering a new golden era of innovation which will radically increase productivity growth. Why haven't those gains appeared?
Nouriel Roubini, Roubini Global Economics |

Why take an interest in Africa's rise?
Africa rising' has been a catchphrase since the beginning of this century. It is the idea that Africa, and especially Sub-Saharan Africa, could be to the 21st century what South-East Asia was to the second half of the 20th century.
Dr Oliver Hartwich, The New Zealand Initiative |

Setting a retirement spending policy
Setting an appropriate spending level is one of the most crucial tasks for retirees. Spend too much and risk utter penury down the track. Be too conservative and the client spends their remaining years in unnecessary hardship.
Tim Farrelly, farrelly's |
0.50 CE  | Opinion

Today's risk profiling puts us all at risk
Risk profiling is entirely broken. The key to understanding clients is in analysing their actions, not their words, or answers to a risk questionnaire.
Bernard Del Rey, Capital Preferences |
* Rated in the top 5 presentations by Symposium 2016 delegates

Member comments

Pay attention to geo-politics when making investment decisions
Given the reluctance of traditional media organisations to cover geopolitics in any depth, where can investors find reliable sources of information on world events?
Graham Rich, PortfolioConstruction Forum |

Geo-politics - Information
There is no one basic source of such information. World events are as complicated as any other aspect of life.
Dr Keith Suter, Global Directions |

Investment lessons from Japan
As I read your article, Tim, I found myself wondering about the comparative relativities between the Japanese experience and ours...
Russell Wadey, Insight Family Wealth Consultants |

Investment lessons from Japan
Yes, yes and yes! One of the great difficulties with economics is that we rarely get conclusive data - every situation is different, so it is very rare that we can say with absolute certainty that x causes y...
Tim Farrelly, farrelly's |


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