Forum Fodder | Friday 28 February 2020
Tell me and I forget. Teach me and I remember. Involve me and I learn.
- Benjamin Franklin (1706-1790)
All the best for another week's continuing education! - Graham

LATEST ONLINE CE...

Markets
When China sneezes
The world economy was weak, and getting weaker, when COVID-19 struck - and it has brought the Chinese economy to a virtual standstill. China's sneeze may prove to be especially vexing for long-complacent financial markets.
Stephen Roach, Yale University | More

Markets | As seen at Portfolio Construction Forum Markets Summit 2020
The black swan VUCA has arrived
Coronavirus represents a Black Swan event, the economic shock of which to China will reverberate around the world, thereby amplifying and exposing global economic weaknesses.
Jonathan Pain, The Pain Report | 0.25 CE | More

Markets
The impact of the C-virus
The new virus is an "unknowable unknown" of the first order. Should the virus turn into an epidemic, all Americans will alter their behavior, such that an outright recession could result.
Woody Brock, SED | More

Philosophy | Markets | Finology
Economics has come full circle
Classical economists often incorporated human behaviour into their thinking. But in the 1960s and 1970s, homo economicus - the great rational agent of economic theory - was born. It was not until the 1990s that the link between human behaviour and economics began to be re-established.
Herman Brodie, Prospecta | More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Complacency kills - the party is over for growth investing
The world economy is operating dangerously close to stall speed. Ever-present shocks and a sharply diminished trade cushion raise serious questions about financial markets' optimistic view of global economic prospects.
Charles Dalziell, Orbis Investment Advisory | 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!

Save the Date!
Mark Your Diary now for the following continuing education programs
March 2020
- farrelly's User Group (18 Mar, Melbourne)
- farrelly's User Group (19 Mar, Brisbane)
- farrelly's User Group (24 Mar, Sydney)
May 2020
- Investment Management Research Symposium (07-08 May, Sydney)
August 2020
- Strategies Conference (19-20 Aug, Sydney)
We'll email you when registration opens...

RECENT ONLINE CE...

Markets
A global economy without a cushion
The world economy is operating dangerously close to stall speed. Ever-present shocks and a sharply diminished trade cushion raise serious questions about financial markets' optimistic view of global economic prospects.
Stephen Roach, Yale University | More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Global equities' risk requires a different perspective
Moving into the 2020s, global equity portfolios should be concentrated and highly selective, positioned to address both fundamental changes in the global backdrop and vulnerabilities in the successful styles of recent years.
Ashley Pittard, Pendal Group | 0.25 CE | More

Markets | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Vision matters – but so does implementation
Portfolio managers don't have perfect vision. Better prediction accuracy results in more concentrated portfolios, higher turnover, higher position limits and higher returns and information ratios.
Jim Creighton, Ironbark Longreach HQI | 0.50 CE | More

Strategies | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Volatility is a source of income
In times of lower growth and falling interest rates, volatility strategies can be used to produce a steady stream of income to complement other sources of returns.
Nick Seeto, Regal Funds Management | 0.50 CE | More

Finology
Research Review: Financial self-awareness and decision making
Financial decisions are among the most important life-shaping decisions we make. Two recent research papers provide further evidence as to how practitioners can help improve clients' financial decisions.
Ron Bird, Investment Management Research Program | 1.00 CE | More

Markets
What could spoil 2020?
Ten risks could cause the most economic and financial trouble in 2020. But these are not predictions - continuing global expansion is more probable than any combination of these setbacks.
Anatole Kaletsky, Gavekal Dragonomics| More

Markets | As seen at Portfolio Construction Forum Strategies Conference 2019
Australia must make 5 core shifts to reach its full potential
Australia has enjoyed nearly three decades of uninterrupted economic growth, but there are sound reasons to question whether this will continue in the future. Five core shifts – industry, urban, energy, land and culture – are needed for Australia to reach its full potential.
Katherine Wynn, CSIRO Futures | 0.50 CE | More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Alternative income streams are essential in times of change
A deliberate blend of emerging market debt and high yield opens up another universe of liquid, high income opportunities which can offer relative stability in returns and deliver the potential of higher income.
James Blair, Capital Group | 0.25 CE | More

Strategies | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Lagging in rising markets can benefit portfolio outcomes
Trailing a rising market can feel like missing out - but pure pursuit of highest returns can have unintended consequences. Protecting capital on the downside has a material impact on total returns.
Benjamin Treacy, Fidelity International | 0.25 CE | More

Strategies | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Retirement portfolios are riskier today than before the GFC
Prior to the GFC, you could build a retirement portfolio on the back of a 7% yield, virtually risk free. Today, without that free kick, a 7% yield is a much harder job, especially from a risk-budgeting perspective.
Jason Teh, Vertium Asset Management | 0.50 CE | More

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