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Friday 27 April 201

8Specialist, independent, investment
continuing education, accreditation & certification

Forum Fodder | Friday 31 May 2019
Self-education is, I firmly believe, the only kind of education there is. - Isaac Asimov
All the best for another week's continuing education! - Graham


How inflation could return
The inflation outlook is subject to far wider possibilities than policymakers have considered. Too little focus on structural factors could pose serious risks to economic wellbeing and financial stability.
Mohamed El-Erian, Allianz |

Rethinking inflation targets
The Federal Reserve is contemplating changing its framework for targeting inflation. It should conclude that the FOMC needs more patience with the current neutral stance rather than a new target.
Robert Gay, Fenwick Advisers |

The corporate bond outlook is more risk for less return
The easy money in credit markets is now gone, leaving corporate bonds facing more risk for less return. Additionally, structural liquidity deterioration raises the black swan risk of a disorderly sell-off spilling over into other markets.
Gopi Karunakaran, Ardea Investment Management | 0.25 CE |

Fund brands and trust
A new study shows that retirement savers demonstrate a strong preference for trusted managed fund brands over unbranded funds - but unbranded funds are strongly favoured over poorly trusted fund brands.
Susan Thorp, University of Sydney | 0.50 CE |

Applying behavioural finance in practice - part 2
Helping clients is about more than just educating them as to the right decision, it's also about helping them to actually take action.
Michael Kitces, Pinnacle Advisory Group | 0.75 CE |

Think less crystal and more sign posts....
If we are going to commit capital to the markets, we need a framework which is centered around expectations...
Bob Michele, JP Morgan Asset Management |

But can you trust real estate stats?
I do not think one can believe vacancy rates...We know real estate agents and they all say that there is a gross under-reporting of vacancy rates...
Fergus Hardingham, FM Financial Solutions |


Certified Investment Management Analyst® (CIMA®)
Are you involved in any aspect of constructing multi-manager portfolios?
CIMA certification is the peak, international technical portfolio construction certification program designed for investment management analysts – that is, those involved in any aspect of constructing multi-manager portfolios, whether practitioner or advocate. Stand for more - more knowledge, skill and expertise - with CIMA certification.
Find out more and enrol now!


Philosophy | Markets
A carbon dividend is better than a carbon tax
To tackle climate change, a carbon tax is immensely popular among economists. But it imposes the same cost on the rich and poor. Instead, a carbon dividend would be a smart step – and one that wouldn’t invite a yellow vest reaction.
Mark Paul & Anthony Underwood |

Is the dollar really doomed?
Five misplaced concerns about the future of the dollar cast doubt on forecasts of a long-run collapse in the dollar.
Woody Brock, SED | 0.50 CE |

Philosophy | Strategies | Investing
Alternative investments - what, how and why?
The definition of the "alternative investment" asset class is one of the most debated and important. Quality portfolio construction is built on a contemporary and defensible philosophy – a key element of which is how asset classes are well defined. What is your philosophy?
Graham Rich, Portfolio Construction Forum | 1 comment |

Applying language research to real life conversations
Practitioners need to know what words to use, what words to lose - and be able to apply that knowledge - to improve their conversations with clients about fees, regulations and new investment strategies.
Gary DeMoss, Invesco Consulting | 1.50 CE |

Europe will trigger the next global volatility event
Slowing growth with extreme recession risk, coupled with a combative populist government, may well see Italy trigger a crisis in European debt and the currency which will cause a substantial global volatility event.
Vimal Gor, Pendal Group | 0.25 CE |

We are all active investors now
Rather than worrying about whether portfolios are actively or passively managed, investors should focus on strategic asset allocation. The tired active-passive investment debate has run its course.
Larry Hatheway, GAM Investments |

Markets | Strategies
The race of our lives revisited (in a nutshell)
Climate change has moved faster than most thought possible. There will be exciting investment opportunities in companies focused on climate change mitigation and adaptation.
Jeremy Grantham, GMO | 1.00 CE |

Strategies | Investing
Research Review: About active and passive
A recent paper looks at the implications of passive investing for market stability, while a second describes different shades of alpha for active and index investing. A third reviews the impact of luck on portfolio rebalancing outcomes.
Ron Bird, Investment Management Research Program | 1.00 CE |

Investing | Finology
Behavioural finance competence is a must to Know Your Product
We must fully understand a fund’s performance to achieve best practice portfolio construction and recommend client solutions that truly reflect their investment beliefs and avoid unwanted biases.
Michael Furey, Delta Research & Advisory | 0.50 CE |

There will be no global recession in 2019 or 2020
Investors are so focused on predicting the end of this economic cycle they have missed the fact that it simply won't. A recession will be avoided and the cycle will extend.
Bob Michele, JP Morgan Asset Management | 2 comments | 0.25 CE |


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