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Alphabet soup, retirement income strategy, long-term
returns
Fodder is back to being a mixed bag this week. Tim Farrelly kicks things off by questioning the
accepted wisdom that QE, ZIRP, and NIRP have created
investment distortions. Woody Brock then weighs in
on Brexit and what it means for portfolios. Michael
Kitces looks at the art and science of determining
which retirement income strategy is best. We feature
Bevan Graham's top-10 rated presentation from
Symposium 2016 on what's important to long-term
returns. And finally, Capital Group shows that who has
won past US Presidential elections has had little
impact on long-term US equity returns.
All the best for a great weekend's continuing
education - Graham
P.S.
"Attend" Symposium 2016 online in your own time
and earn up to 12.75 CE hours.
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LATEST... |
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QE and ZIRP have introduced massive distortions?
QE has caused massive investment distortions. Ditto
the ZIRP and NIRP policies of many central banks.
Beware - the chickens are coming home to roost! It
seems plausible, but...
Tim Farrelly, farrelly's |
Opinion
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A comment on BREXIT
The reality is that Brexit will hurt everyone
involved more than was admitted during the campaign.
Investors should expect heightened volatility, not
only of stocks, but even of government bonds.
Dr Woody Brock, SED |
Opinion
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How do you measure which retirement income strategy
is best?
The "best" retirement income strategy may be very
different depending on whether you measure based on
wealth, spending, probabilities of success,
magnitudes of failure, or utility functions that
weigh both the upside and downside risks.
Michael Kitces, Pinnacle Advisory Group
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0.50
CE
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Research
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Ride the cycle but structural weakness will come to
matter more
Investors need to be wary that without much needed
reform, structural weaknesses in many advanced and
developing economies will be the ultimate
determinant of longer-term returns.
Bevan Graham, AMP Capital NZ
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0.50 CE
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1 comment
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Resources
* Rated
in the top 10 presentations by Symposium 2016
delegates
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US elections have been good for long-term investors
As the battle for the White House heats up,
candidates are drawing attention to the challenges
facing the nation. But whatever the outcome of the
upcoming US Presidential election, we believe the
impact on markets will be about the same.
Capital Group |
Opinion
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Member comments
Can advisers compete with Robo's?
In
theory, no. Fortunately, Yogi Berra's law applies.
"In theory, there is no difference between theory and
practice. In practice, there is."
Tim Farrelly, farrelly's |
Comment
Retirement resources that matter: Q+A
I'm not advocating that financial planners try to be
marriage counselors, doctors or psychologists but
there are benefits to understanding the whole client...
Dr Joanne Earl, Flinders University |
Comment
Cashflows - in and out
Thanks Michael, interesting article. However, you are
correct in that the challenge with many ideas and
theories is the practical application...
Mark Carroll, Morvest Financial Planning |
Comment
Rebalancing Software
Mark, the implementational challenges of rebalancing
are something that - fortunately - are very
conducive to technology solutions...
Michael Kitces, Pinnacle Advisory Group |
Comment
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RECENTLY... |
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Inside Brexit
I previously worked with the London think tank
closely linked to David Cameron and his Tory
modernisers. It was fascinating for me to watch
Brexit from afar. Here's my take on what we've just
witnessed.
Oliver Hartwich, The New Zealand Initiative |
Opinion
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The coming EXITentialist crisis
The Brexit referendum is a major break in the 70
years of European integration. What's next for the
UK? Who is next to exit? What does this mean for
broader global stability? And - most importantly -
what are investment implications?
Marko Papic, BCA Research |
White Paper
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Brexit now and we will only have to Breturn
The lesson of history is that British isolationism
is a trigger for continental disintegration. A vote
for Brexit will mean Britain will only have to "Breturn"
sooner or later, to sort out the ensuing mess.
Niall Ferguson, Harvard University |
Opinion
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Reforming the Referendum
The lesson from Brexit is clear - put questions to a
popular vote only when there can be no
misunderstanding about how much (or how little) is
at stake. The Brexit referendum failed that test.
Christopher Granville, Trusted Sources |
Opinion
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How to identify retirement resources that matter
It's a sad fact that not everyone adjusts well to
retirement. It's estimated that about one third of
retirees have problems adapting after leaving full
time work. So why do some people fail to adapt? A
Dynamic Resource Model provides a potential
solution.
Dr Joanne Earl, Flinders University
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1.00 CE
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2 comments
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Resources
* Rated
in the top 10 presentations by Symposium 2016
delegates
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Member comments
Forward estimate versus static allocation
Michael, in past articles, you discuss the benefits
of adjusting asset allocation based on forward asset
class estimates of expected returns. How would this
possibly (if it is possible) work with this more
static allocation but dynamic re-balancing?
Stephen Farrell, Hogben Farrell Financial Planning |
Comment
Blending rebalancing strategies
Stephen, I wouldn't view these as mutually
exclusive...
Michael Kitces, Pinnacle Advisory Group |
Comment
Europe still matters
Yes, Europe still matters. It is a shrinking part of
the world in relative terms, but it is still highly
developed, rich, and home to some of the biggest
companies on the planet..
Oliver Hartwich, The New Zealand Initiative |
Comment
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