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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
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LATEST... |
![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Dominic-McCormick_70x70.jpg) |
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
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_MichaelKitces_70x70.gif) |
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
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Woody-Brock_70x70.gif) |
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
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Will-Jackson_70x70.jpg) |
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
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Jason-Thomas_70x70.jpg) |
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
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Values and investing
Very interesting series. Should
be an important part of every financial education
program.
Peter Hecht
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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
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RECENTLY... |
![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_cogs_70x70.jpg) |
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
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Resources
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Dominic-McCormick_70x70.jpg) |
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
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Opinion
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Carmen-Reinhart_70x70.png) |
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
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![](https://portfolioconstruction.com.au/obj/thumbnails/pcf_tn_Stephen-Hayes_70x70.jpg) |
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
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![](/obj/thumbnails/pcf_tn_megaphone_70x70.gif) |
Your article is a must read
Great stuff Dom ... finally a common sense
perspective...
Michael Furey, Delta Research & Advisory
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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
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Comment
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