Forum Fodder | Friday 27 March 2020
In case you missed it last week, we've repeated below our update on how the Forum will continue to deliver credible, competent and relevant continuing education to you. We look forward to continuing to have you as part of our community.
You can never be overdressed or overeducated - Oscar Wilde (1854-1900).
All the best for another week's continuing education! - Graham

LATEST ONLINE CE...

Markets
This time truly is different
While pandemics are comparatively rare, and severe ones rarer still, I am not aware of a historical episode that can provide any insight as to the likely economic consequences of the unfolding global coronavirus crisis. This time truly is different.
Carmen Reinhart, Harvard University | More

Markets | Strategies 
Q&A: The economic impact of coronavirus
Coronavirus has put an end to the longest post-war US expansion, and is all but certain to cause a recession that will be wholly different from any other in economic history. Robert Huebscher speaks with renowned economist, Dr Woody Brock, about why.
Woody Brock, SED | More

Markets
Are we out of the woods?
On Monday, the US central bank acted with stunning shock and awe. Then, government after government announced the biggest fiscal support packages ever seen in history. All of which begs the billion dollar question - sorry, multi, multi trillion dollar question. Are we out of the woods?
Jonathan Pain, The Pain Report | More

Markets | Strategies
You’re a braver man than I
For active fund managers, the coronavirus pandemic is unlike any other crisis in modern times. In this podcast, Jonathan Ramsay of InvestSense speaks with emerging market equities portfolio manager, Tassos Stassopoulos, about the impact of values on responses to COVID-19 around the world, and the art of contrarian stock picking and managing client monies in these challenging times.
Tassos Stassopoulos & Jonathan Ramsay | More

Markets | Strategies
Investing in the 2020s will mean more risk, for less reward
In the decade ahead, ageing demographics, income inequality, market share concentration and climate change will reshape the economy, elevating VUCA and requiring deep fundamental research to determine where best to invest.
Ronald Temple, Lazard Asset Management | 0.25 CE | More

Markets
We need to deliver better TSR - total social returns
Market capitalism has survived many rotations of the political cycle over generations. But there is nothing certain or given about capitalism – and today, its future is being called into question, with growing calls to fundamentally change the system.
Paras Anand, Fidelity International | 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.
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Save the Date!
Mark Your Diary now for the following continuing education programs
August 2020
- Strategies Conference (19-20 Aug, Sydney)
We'll email you when registration opens...

RECENT ONLINE CE...

Forum Fodder | Friday 20 March 2020
Hour after relentless hour, the grim Coronavirus Black Swan continues to fly, seemingly undeterred. It's not hyperbole to say these are unique and challenging times for us all - there's nothing I can add to what is being said by the so-called coronavirus experts.
At times like these, credible, competent and relevant insights from the Forum's extensive faculty of subject matter experts become especially important to those committed to better quality portfolio construction practice through exceptional continuing education. The show must go on - albeit with appropriate social distancing! 
In fact, it's business as usual for the Forum. We've operated as both a face-to-face and online continuing education platform for over 18 years (we launched as an online-only service back in 2002 so that actually came first). And, we've been using Zoom for our video conferencing and webinar/meeting needs since 2018.
We've published over 1,500 online resources in the past five years alone, over 500 of which are CE/CPD accredited. And over the past week, we've reformed our scheduled face-to-face programs as live webinars - and we'll continue to do so, so you'll be able to meet your ongoing CE/CPD obligations either through live attendance online, or at your leisure afterwards. We look forward to continuing to have you as part of our community.
All the best for another week's continuing education! - Graham

Markets
Averting economic disaster is the easy part
COVID-19 threatens both medical and economic disaster. While it may be too late to avert a public-health crisis, unlike the medical effects of the virus, the economic impact is easy to predict and overcome.
Anatole Kaletsky, Gavekal Dragonomics | More

Markets | Strategies
Extraordinary times in markets
This is a time to be buying not selling. Question marks remain as to how far this market will fall before it bottoms out. But what we do know is that valuations are attractive. The chances of long-term investors earning returns well in excess of Term Deposits over the next five to 10 years are very, very high.
Tim Farrelly, farrelly’s Investment Strategy | 1 comment | More

Markets | Strategies
Be alert! High VUCA ahead!
This time a month ago, Markets Summit 2020 facilitated debate on the key drivers of and outlook for the markets (on a three- to five-year view) with particular emphasis on being alert to the high VUCA - volatility, uncertainty, complexity and ambiguity - risks and opportunities ahead. Watch 20+ leading investment thinkers from around the world.
Graham Rich, Portfolio Construction Forum | More

Strategies | Finology
Seeking alpha in a VUCA world requires whole brain approach
Although influenced by logical factors, changes in investment markets are often irrational and illogical. A whole-brain approach to seeking alpha is necessary to win in the investment game.
Philipp Hensler, Epoch Investment Partners | 0.50 CE | More

Finology
Applying behavioural finance in practice
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 | 1.50 CE | More

Markets
A short story about black swans at dawn
The market has now woken up to the size of the traumatic shock to the global economy, which just hit a massive air pocket. In the next few weeks, financial markets and the broad capital markets will come under severe stress. How does this end?
Jonathan Pain, The Pain Report | 1 comment | More

Markets
More on the coronavirus crisis and the markets
Two weeks ago as the coronavirus crisis began to unfold, I warned that the market could soon drop to 17,500 on the Dow. One very important form of investor ignorance today concerns the market's view that it is prospects for corporate earnings that will matter most. This is wrong.
Woody Brock, SED | More

Markets
Coronanomics 101
The G7 has vowed to use "all appropriate policy tools" to contain the economic threat posed by the COVID-19 coronavirus. That should include those wielded by medical practitioners and epidemiologists.
Barry Eichengreen, University of California | More

Markets
Super Tuesday - what happened, what’s next
Joe Biden had a fantastic night on Super Tuesday and he could be the Democratic Nominee - but a lot can change over the next month. Meanwhile, trade relations between the US and China may falter if China struggles to honour its commitments due to a weak economy.
Libby Cantrill, PIMCO | 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

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