Forum Fodder | Friday 01 November 2019
The more extensive a man's knowledge of what has been done, the greater will be his power of knowing what to do. - Benjamin Disraeli (1804-1881)
All the best for another week's continuing education! - Graham

LATEST ONLINE CE...

Investing
The allure and limits of monetised fiscal deficits
It is only a matter of time before some shock triggers a new recession. Because policymakers will be pressured to do something, "crazy" policy responses will become a foregone conclusion.
Nouriel Roubini, Roubini Macro Associates | More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
After value’s tough ‘10s, we must stick to our guns for ‘20s
The 2010s challenged value investors as, paradoxically, cheap stocks became cheaper and expensive stocks grew more expensive. For those holding their nerve, the inconsistency sets up a good 2020s.
Andrew Clifford, Platinum Asset Management| 0.50 CE | More

Strategies | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Machine learning gives great flexibility – and responsibility
Artificial Intelligence, Machine Learning (ML), and Deep Learning represent an important expansion of the quantitative investors' analytical toolkit, providing substantial new flexibility.
Joanna Nash, Acadian Asset Management| 0.50 CE | More

Strategies |As seen at Portfolio Construction Forum Strategies Conference 2019
True diversification is not about portfolio insurance
Investors want it all from alternatives - keep up with equities in bull markets, and give insurance when markets fall. But true diversification adds independent sources of return to portfolios.
Jason Koo, Macquarie Investment Management | 0.25 CE | More

Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Income investors should look beyond just yield
A broader approach to retirement income, looking beyond yield and incorporating expected return and risk, means some income-generating assets should be excluded from retirement portfolios.
Michael Martel, State Street Global Advisors| 0.50 CE | 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 and enrol now!

20-21 November | 12 CE/CPD hours
Investment Management Research Symposium 2019 (20-21 Nov 2019)
Established in 2007, the annual Investment Management Research Program Symposium presents contemporary investment research. Presented in collaboration with Macquarie University and supported by CIMA Society of Australia, it features an exceptional Faculty - academics from leading university business schools, independent consultants, central bankers, regulators and professional investors - presenting research related to this year's theme, "We are living in exceptional times".
Register now!

RECENT ONLINE CE...

Markets
Can the US and China make a deal?
The Sino-American trade war may well be about to enter its endgame. The next round of negotiations could be the last real chance to find a way through the trade, technology, and wider economic imbroglio that has been engulfing both countries.
Kevin Rudd, Asia Society Policy Institute | More

Markets
Investors need a new measure of economic growth
Much macroeconomic analysis is very narrow in scope. ESG factors are ignored all together. A new indicator of national progress measures economic dynamism and progress on meeting ESG goals.
Stephanie Kelly, Aberdeen Standard Investments| 0.25 CE | More

Strategies
Retirement spending and biological age
There is a growing body of evidence suggesting that chronological (C) age is dominated by biological (B) age as a better proxy for longevity risk. Practitioners must consider both ages when building portfolios and structuring retirement spending strategies.
Moshe Milevsky, York University| 1.00 CE | More

Finology
The Big Five: A new path to improving client service
There is scientific consensus that five major personality traits explain much of the behavioural differences between individuals - linking to financial outcomes, and preferences for advice.
Herman Brodie,Prospecta Limited | 0.50 CE | More

Investing
Research Review: The investment behaviour of hedge funds
Two papers looking at hedge funds provide further evidence that the more proactive managers are the best performers.
Ron Bird, Investment Management Research Program | 1.00 CE | More  

Markets
Lagarde’s edge is Europe’s opportunity
Christine Lagarde will soon succeed Mario Draghi as president of the ECB. She is taking the reins at precisely the right moment for Europe to make the changes needed to avoid a second lost decade.
Mohamed El-Erian, Allianz| More

Markets | As seen at Portfolio Construction Forum Strategies Conference 2019
We will have to choose between the US and China in the 2020s
In the increasingly intense strategic and economic competition between Washington and Beijing, it's naive to think Australia can just sit on the sidelines.
Tom Switzer and panel | 0.75 CE | More

Philsophy | Strategies | Investing | Finology
5 essential portfolio construction components
Portfolio construction is multi-faceted and should be iterative. Five key components provide a framework to design quality portfolios to meet clients' objectives.
Annika Bradley, Lodrino| More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Remove your rose coloured binoculars, reality is setting in
Hindsight has taught us the importance of active core bond funds as an insurance policy. Now is the time to consider expanding your investable universe as the secular need for income intensifies.
Rob Mead, PIMCO| 0.50 CE | More

Markets | Investing
Research Review: More on market anomalies
Are markets efficient? Recent research suggests not, finding media impacts information dissemination, and mispricing explains the value premium.
Prof Ron Bird, Investment Management Research Program | 1.00 CE | More

Keep up to date - follow us @PortfolioForum
There's no need to wait until our weekly Forum Fodder email to know what's new with Portfolio Construction Forum. Just follow us on Twitter to hear as soon as we release new articles on portfolioconstructionforum.edu.au and when registration opens for our onstage programs.

Connect with me on LinkedIn
We also let my LinkedIn network know as soon as we release new articles on portfolioconstructionforum.edu.au and when registration opens for our face-to-face CE programs. If LinkedIn is more your thing than Twitter, I'd welcome you connecting. And of course, I'd welcome having an offline direct conversation with you any time.