Hard on the heels of last week's focus on values and investing - including the role of whistleblowers and the media - this week, Dom McCormick writes about the "real" IOOF "scandal" (biased media and politicians who now won't admit they may have got it wrong). Dr Woody Brock dispels three myths and half-truths about the behavior of bond prices (great prep for our upcoming Markets Summit program in Feb 2017). The Forum's Will Jackson summarises geopolitical forecaster George Friedman's keynote address at the recent ASFA Conference (bottom line - we have returned to history, the "fantasies of the last 20 years are gone").  Michael Kitces's report on why retirees' may not need to save as much as traditional retirement spending models would suggest is good news. Finally, The Carlyle Group's Jason Thomas warns of the consequences to portfolios of central banks' "Mae West approach" to monetary policy.
All the best for a great weekend's continuing education - Graham
P.S. Register is now open for Summit 2017 “The Winds of Change” (February 2017).

QUOTE OF THE WEEK...

"You have to study a great deal to learn a little." - Montesquieu

LATEST...

Philosophy
The "real" IOOF "scandal" 18 months on
Mid this year, ASIC concluded its enquiry into allegations of wrongdoing and criminal behaviour at IOOF, related mainly to the research team and its then head. The real "scandal" turned out to be about reckless and biased elements of the media (and politicians).
Dominic McCormick, DPM Financial Services | Opinion

Strategies
Using age banding to estimate spending in retirement
A growing body of research on the actual spending habits of retirees finds spending declines over time, implying retirees may not need to be saving as much to retire.
Michael Kitces, Pinnacle Advisory Group | 0.50 CE | Research

Markets
Bond market turmoil in a Trumpian economy
Many worry that "the new normal" may be over, that the peak of the bond market has been reached, and so forth. We agree in part with this new view and offer some pointers to help navigate the bond market shoals ahead.
Dr Woody Brock, SED | Opinion

Markets
US will maintain a thoughtful distance amid disorder
US scepticism on free-trade and defence agreements is rational in an unstable world, according to geopolitical forecaster and author, George Friedman.
Will Jackson, PortfolioConstruction Forum | Opinion

Markets
An end to the Mae West approach to monetary policy
Since the GFC, Central Banks have taken a Mae West approach to monetary accommodation. If a little is good, and more is better, then too much is just right. What happens when it ends?
Jason Thomas, The Carlyle Group | Opinion

Values and investing
Very interesting series. Should be an important part of every financial education program.
Peter Hecht | Comment

Great article Dom
The future is more uncertain than ever and the challenge right now is how to survive an environment with a wide range of possible outcomes, as you rightly point out...
Jerome Lander, ProCapital | Comment

RECENTLY...

Philosophy
Values and investing
Does our character manifest itself in our investing decisions? This Resources Kit - presenting 10 key research papers, presentations and opinion pieces - focuses on what determines values, how values impact ethics and behaviour, and the relationship to trust.
Curated by PortfolioConstruction Forum | 0.50 CE | 1 comment | Resources

Markets/Strategies
Trump rally - genuine growth or groupthink gamble?
I wonder whether the post-Trump market rally and associated bullish economic and market narrative will come to be seen as one of the more prominent historical examples of poorly timed and lazy market groupthink.
Dominic McCormick, Select Investment Partners | 2 comments | Opinion

Markets
Fleeing Italy
Following the Brexit and Trump victories, focus has shifted to the upcoming referendum in Italy. There is a disquieting real-time poll of investor sentiment.
Professor Carmen Reinhart, Harvard University | Opinion

Markets/Investing
Over inflated long duration assets will lose you money
Real assets including real estate have overinflated valuations. Investors need to understand the frame work necessary to manage the trade-off between shorter term returns and longer term risks.
Stephen Hayes, Colonial First State Global Asset Management | 0.50 CE | Resources

Your article is a must read
Great stuff Dom ... finally a common sense perspective...
Michael Furey, Delta Research & Advisory | Comment

Systems thinking
Which of the two reality show contestants, do you think, is the better systems, whole-picture thinker, and which is the one-moral-cause-at-a time thinker?
Ralph Pain, University of Wollongong | Comment

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