Forum Fodder

Portfolio Construction Forum

Our regular Forum Fodder email alerts Members to what's new with our blended live and online continuing education, accreditation and certification programs.

The most recent Forum Fodder email is below.

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 Specialist, independent, investment
continuing education, accreditation & certification

Forum Fodder | Friday 07 August 2020
"We reach our conclusions, limited by the inadequacy of our foresight and influenced by our optimistic or pessimistic biases. And we learn from our experience how hard it is to get the answer right." - Howard Marks, Oaktree Capital Management (5 August 2020)
All the best for another week's continuing education! - Graham
"All things considered... the next big shock" zoominar 3 Friday 14 August 2020 Who would have thought that a health crisis would create such a significant financial and economic crisis? To properly manage systemic risk in our portfolios, we need to ask ourselves, where is the next big shock coming from? More info & register


Are financial markets none the wiser?
In April, I argued equity markets might continue to rally despite the collapse of the world economy. And so they have. But in my 40 years of observing and participating in financial markets, I've learned that August is always a month to watch.
Jim O’Neill, Chatham House |

Right for the right reasons
In the last two weeks, very important data on the US economy and corporate earnings have been released. These depressing data are as we had predicted. It remains true that the S&P 500 should drop by 35% from its 1 January level.
Woody Brock, SED |

Markets | Investing
The state of play
One of the most important tasks for any decision-maker is to continuously stress-test assumptions and mark-to-market their hypotheses as to how the future will unfold. Let's "nowcast" a little.
Christopher Joye, Coolabah Capital |

All things considered... We don't know what we don't know
Our first All Things Considered zoominar was foundational. Our panel of expert portfolio construction practitioners and academics made the case for questioning our investing activities, and identified some “sacred cows” that are most consequential to investment outcomes AND in greatest need of revision.
Joe Fernandes, Maroš Servátka & Robert Prugue | 1.00 CE |

Philosophy | Investing | Editor's Pick!
Is active investing doomed as a negative sum game?
Sharpe proposed that active investing must be a losing pursuit in aggregate. This paper takes a critical look at that proposition, and whether it is worthwhile considering using active fund managers.
Geoff Warren, Australian National University | 1.00 CE |

Stop calling product recommendations advice
Poignant words from Jim Stackpool. An especially good call out in regard to the 'Awards Bubble'...
David Graham, Story Wealth Management |

Finology | Invitation to investment advisers
Complimentary survey to benchmark your Client Care & Practice knowledge and skills
FASEA requires that financial advisers continually improve their client care and practice knowledge and skills - doing so makes obvious business sense, as well. Our new Finology Benchmarking Indices (FBI) is the only benchmarking tool for this area of knowledge and skill - and it's complimentary to our investment adviser members while we continue to develop the service.
Take the Finology Benchmarking Indices survey


"All things considered... the next big shock" zoominar, Friday 14 August 2020 | 1 CE/CPD hour
Who would have thought that a health crisis would create such a significant financial and economic crisis? To properly manage systemic risk in our portfolios, we need to ask ourselves, where is the next big shock coming from? Responsibility and sustainability have been subsumed by the current crisis. But the impact of not addressing them will be the cause of the next. More info & register

Strategies Conference 2020 "It's a whole new world"
We are looking forward to presenting Strategies Conference 2020 as a live online "hybrid" program. Mark your diary! 30 Sep to 01 Oct 2020.
Meanwhile "attend" Strategies Conference 2019 "20/20 vision" on-demand


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.
Enrolments are now open for the next intake


Revisiting the white swans of 2020
In February, I warned any number of foreseeable crises - "white swans" - including Covid-19, could trigger a massive global disturbance in 2020. Many are now in play. Why are financial markets ignoring these risks?
Nouriel Roubini, PhD, New York University | 1 comment |

Stop calling product recommendations advice
Regardless of how QSuper justifies their focus on limited advice, they cannot justify calling it advice. It is a product recommendation.
Jim Stackpool, Certainty Advice Group | 1 comment |

Philosophy | Markets | Investing | Editor's Pick!
Research Review: SRI, ESG and controversial investing
Research finds that SRI funds perform as well as conventional funds, ESG equity investing has outperformed in the US, and controversial stocks do best in crises.
Ron Bird, Investment Management Research Program | 1.00 CE |

Research Review: Mental Accounting
Humans categorise and form stories about their world - including their financial lives. Two recent papers emphasise the implications of mental accounting, particularly for any investment professional in a client-facing role.
Rob Hamshar, Portfolio Construction Forum | 1.00 CE |

Finology  | Editor's Pick!
New Word Order - It’s not what you say, it’s what they hear
The way investors respond to the language of financial services can be influenced by using the right words, avoiding others, and structuring messages to overcome skepticism.
Gary DeMoss, Invesco Consulting | 0.50 CE |

Every fibre of my being
Based on the US 10-year real yield versus gold chart, an investor needs to be thinking about where real yields are headed. Do you have any favoured indicators?...
Peter Eichmann, Park Street Group |

China as economic bogeyman
Much of the new push for industrial policy in the US and Europe is motivated by the perceived Chinese "threat". But economic considerations suggest this is the wrong focus.
Dani Rodrik, Harvard University |

Research Review: Regret
Two research papers exploring regret can help us improve how investment decision-making and outcomes are framed with clients and offer deeper insight into clients' personal and financial goals and priorities.
Rob Hamshar, Portfolio Construction Forum | 1.00 CE |

Philosophy | Strategies | Editor's Pick!
The case for a barbell investment strategy
What strategy should a rational investor, completely free of constraints, take to preserve wealth while making modest long-term gains? To do so will not be easy over the next two decades.
Dr Woody Brock, SED | 1.00 CE | 1 comment
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Markets | Strategies | Editor's Pick!
When navigating uncertainty, breadth trumps depth
To succeed within the ever-shifting context in which investment decisions are made, investors should adopt a multi-lens approach. Context matters, and siloed thinking can be detrimental.
Vikram Mansharamani, Harvard University | 1.00 CE |

Finology | Editor's Pick!
Move over risk/return profiles: Values define client’s needs
Only by making the effort to understand and align investment beliefs with values can we get a sharper understanding of our clients' true objectives and provide solutions that will really meet their needs.
Tassos Stassopoulos, Trinetra Investment Management | 0.50 CE |


Forum CE Library - over 540 CE/CPD hours
Complimentary for all Forum members, the Forum's online on-demand CE Library offers over 540 CE/CPD hours of accredited learning resources, to help members meet the CE/CPD requirements of 16 governing bodies (regulators, associations, and institutes) - including ASIC, APRA, FASEA, FMA, AFA, FPA and CIMA
® CE/CPD requirements, to name a few.

Forum CIMA CE Library - over 75 CE hours
This subset of the full Forum CE Library features just those learning resources that are accredited for CIMA CE hours, so CIMA certificants can more easily find learning resources to meet their recertification obligation (at the same time as meeting the CE/CPD requirements of other governing bodies e.g. ASIC, APRA, FASEA, FMA, etc). 


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