Forum Fodder | Friday 14 June 2019
A little learning is a dangerous thing. - Alexander Pope (1688-1744)
All the best for another week's continuing education! - Graham

LATEST ONLINE CE...

Markets
Has a no-deal Brexit become more likely?
If you believe the UK is turning into populist Zimbabwe or Venezuela, you should expect a no-deal Brexit. Otherwise, forget about it.
Anatole Kaletsky, Gavekal Dragonomics | More

Markets | Investing
Corporate debt the next bubble to pop?
Investment grade debt has become much riskier, default rates will rise when interest rates begin the inevitable normalisation, and credit spreads are too low – it’s a bubble waiting to burst. Actually, no.
Tim Farrelly, farrelly's Investment Strategy | More

Philosophy | Strategies | Finology
Segment retirement expenses to create retirement buckets
Retirement bucket strategies tie specific expenses to specific portfolios. But looking at categories of spending doesn't necessarily work. A better approach is to segment spending within each category.
Michael Kitces, Pinnacle Advisory Group | More

Strategies | Finology
Beliefs, biases and behaviours drive retirement solutions
A myriad of factors - psychological, emotional, cognitive and behavioural - impact a client’s financial independence during decumulation, demanding different investment solutions.
Robert DeChellis, Allianz Retire+ Powered by PIMCO | 0.50 CE | More

Markets
The New Neutral is a long-term global reality
Recent central bank decisions have strengthened the conviction that the New Neutral is a global reality which will have long-term implications on investment decisions.
Rob Mead, PIMCO | 0.25 CE | More

Population growth
So much for doing anything about housing affordability. And it will also add substantial volatility to housing prices. Property investors may cheer in the short-term, but just wait until the RBA next need to tighten interest rates...
Tim Farrelly, farrelly's | More

UPCOMING FACE-TO-FACE CE...

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 - join us for a free information seminar Tue 18 June

Strategies
Strategies Conference 2019 - 20/20 vision
Wed-Thu 21-22 Aug 2019 | 13 CE hrs
Great eyesight depends on more than just clarity of vision – peripheral awareness, depth perception, focusing ability and colour sensitivity all play a crucial role in determining our visual ability. And, the same is true of quality investment portfolio construction. To design, build and implement portfolios capable of meeting the long-term objectives of end investors, practitioners need clear vision across a range of issues. Strategies Conference 2019 will facilitate debate on a selection of contemporary and emerging portfolio construction strategies, with particular emphasis on looking ahead at the issues that will dominate the 2020s and beyond, to give greater insight and clarity to building quality investor portfolios.
Registration opens soon - meanwhile mark your diary! Wed-Thu 21-22 Aug 2019.

RECENT ONLINE CE...

Markets
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 | More

Markets
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 | More

Markets
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 | More

Finology
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 | More

Finology
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 | More

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 | More

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 | More

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 | More

Markets
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 | More

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 | More

Finology
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 | More

Markets
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 | More

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