Forum Fodder

Forum Fodder | Friday 04 November 2022

“The lasting image of the era of cheap money for me will be the recent announcement that customers can now pay for a Deliveroo takeaway in instalments via Klarna… It’s hard to escape the impression of two drunks propping each other up at the end of a long party.” - Financial Times associate editor Sarah O’Connor (01 November 2022)

All the best for another week’s continuing education!
Graham
P.S. Mark Your Diary! Markets Summit 2023 “Debating the drivers of and outlook for investment markets” - Wednesday 22 February 2023. Finology Summit 2023 “Debating biases, beliefs and behaviours in portfolios!” - now Wednesday 03 May 2023. For our full 2023 calendar click here.

Markets

Xi’s conflict-prone China
The outcome of the 20th Party Congress underscores an important distinction between economic growth “with Chinese characteristics” as it has long been described, and a very different strain of development with Xi Jinping characteristics.
Stephen Roach, Yale University | Read

Markets | Strategies | Rated in the top 5 at Strategies Conference 2022

Macro Markets Roundtable: The future ain’t what it used to be!
Investors began 2022 in bullish form however rising inflation concerns combined with Russia’s invasion of Ukraine soon soured the mood. More than ever, practitioners need to understand the key secular and structural forces impacting on markets and the portfolio construction implications.
Jonathan Pain, Marc Seidner, Andrew Clifford, Nikki Thomas | 1.00 CE | Watch, Listen

Strategies | Investing | Philosophy | As seen at Strategies Conference 2022

Sustainable investors need to go beyond ESG and target SDGs
Sustainable investing is booming - and sustainable investors need to align their strategies with sustainable development ambitions. The Sustainable Development Goals provide a valuable blueprint.
Jan Anton van Zanten | 0.50 CE | Watch, Listen

Markets | Strategies | Philosophy | As seen at Strategies Conference 2022

Your world is your “green” bond
Investing and engaging for change, committing to tackling the climate-related risks that threaten the future of the planet is our duty or our future ain’t what it used to be!
Ecaterina Bigos, AXA Investment Managers | 0.50 CE | Watch, Listen

Investing

Research Roundtable: Fidelity Global Future Leaders
This Research Roundtable focused on the Fidelity Global Future Leaders strategy, with senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios. Afterwards, the meeting is truncated and published for on-demand viewing by all Forum members.
Portfolio Construction Forum | 1.50 CE | Read, Watch

Finology | Invitation to investment advisers

Complimentary self-assessment to benchmark your Client Care & Practice knowledge and skills
Financial advisers must continually improve their client care and practice knowledge and skills - doing so makes obvious business sense. Our new Finology Benchmarking Indices (FBI) self assessment tool helps you benchmark your investing biases, beliefs and behaviours versus peers, to further empower your “client care and practice” knowledge and skills. It’s complimentary to our members who give investment advice, while we continue to develop it.
Portfolio Construction Forum | 0.50 CE | Take the FBI self-assessment

Markets

Markets Summit 2023 “Debating the drivers of and outlook for investment markets”
AEDT 8.30am-5.30pm Wed 22 Feb 2023
Established in 2009, Markets Summit is THE investment markets scene setter of the year. The program is designed and curated by our specialist, experienced and independent team and features a Faculty of 20+ leading investment thinkers - geopolitical specialists, economists, market/asset class experts, and investment strategists - from around the world. Markets Summit will help you better understand the key drivers of and outlook for the markets, and the opportunities and risks ahead on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.
Join us in person at our live studio, a live site, or via live stream | 7-11 CE | More about Markets Summit

Philosophy | Finology

Behavioural Finance: Investment decision-making short course
Led by behavioural finance expert, Herman Brodie, the Behavioural Finance - Investment Decision-Making course will help you identify, analyse and evaluate the principal human preferences that influence decision-making in situations of uncertainty, so you can recognise and identify these preferences in others, to improve investment decision-making.
Herman Brodie | 8.00 CE | Enrol

Markets | Strategies

Spotlight on residential property
After four decades of supercharged growth in residential property prices, we are finally seeing some of the froth come out of this market. This Spotlight argues that we are entering a very different environment for residential property prices.
Tim Farrelly, farrelly’s Investment Strategy | Read | Subscribe to Spotlight

Markets | Strategies

We’re in the midst of a regime change for portfolios
2022 has been a horrible year for investors. Usually when markets are down 20%, you might feel that the worst of the pain has passed. That’s unequivocally wrong. The most dangerous phase of markets is yet to come.
Alex Lennard & Fiona Ker, Ruffer | Watch, Listen

Markets | Strategies | As seen at Strategies Conference 2022

The search for returns just got real
The regime has changed. We know from experience that diversified portfolios are robust in a disinflationary world. But some portfolios may not be so robust in an inflationary world. The future is definitely not what it used to be.
Al Clark, MLC Asset Management | 0.50 CE | Watch, Listen

Markets | Strategies | As seen at Strategies Conference 2022

Thematic investing is a better mousetrap for global small caps
The future ain’t what it used to be, so capital allocators should look beyond arbitrary benchmarks and combine a thematic universe with the structural benefits of small cap investing.
David Sullivan, UBS Asset Management | 0.50 CE | Watch, Listen

Investing

Research Roundtable: Lazard EM Total Return Debt
This Research Roundtable focused on the Lazard Emerging Markets Total Return Debt strategy, with senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios. Afterwards, the meeting is truncated and published for on-demand viewing by all Forum members.
Portfolio Construction Forum | 1.50 CE | Read, Watch

Markets

The stagflationary debt crisis is here
Team Transitory clearly lost to Team Persistent in the inflation debate. And now there are early signs that the Great Moderation has given way to the Great Stagflation.
Nouriel Roubini, Roubini Macro Associates | Read

Markets

Q&A: US inflation will not fall back to 2% in the future
Inflation will not fall back to the pre-Covid 2% level that the US Federal Reserve wants. Two underlying structural changes will keep US inflation at about 4% in the future.
Dr Woody Brock, Strategic Economic Decisions | Watch, Listen

Markets | Strategies | Finology | Philosophy | Rated in the top 5 at Strategies Conference 2022

Portfolio construction strategies ain’t what they used to be!
Portfolio construction requires precarious navigation in an ever-changing world. Only when we adapt our skillsets and reframe our perspectives can we understand why things are happening and capture upcoming opportunities.
Tassos Stassopoulos, Trinetra Investment Management | 0.50 CE | Watch, Listen

Markets | Strategies | Philosophy | Rated in the top 10 at Strategies Conference 2022

Ignore the hype - GREITs are the investment for all seasons
The future ain’t what it used to be – that’s just noise. Listed Global REITs provide investors with a competitive return profile and diversification from equities, a compelling reason for allocations in portfolios.
Andrew Parsons, Resolution Capital | 0.50 CE | Watch, Listen

Strategies | Investing | Philosophy

Research Review: ESG investing and returns
The first of these two papers provides a comprehensive review of the several thousand papers written on ESG investing and investment performance, while the second looks at downside risk reduction.
Ron Bird, ANU & Portfolio Construction Forum | 2.00 CE | Read

Markets

Pound foolishness
The British pound’s current gyrations point to some essential traits of currency markets. I am not sure what to make of Trussonomics.
Jim O’Neill | Read

Markets | Rated in the top 10 at Strategies Conference 2022

Globalisation’s future ain’t what it used to be!
As a new age of economic localisation reunites place and prosperity, practitioners must understand the implications for economies and societies - and for portfolio construction.
Rana Foroohar, Financial Times & CNN | 0.75 CE | Watch, Listen

Markets | Strategies | Rated in the top 10 at Strategies Conference 2022

Global corporate bonds should be a core allocation
The case for investment-grade corporate bonds replacing traditional sovereigns as a core allocation is strengthening with the income opportunity of this sub-asset class being the brightest it’s been in years.
Harry Phinney, Capital Group | 0.50 CE | Watch, Listen

Markets | Strategies | Rated in the top 10 at Strategies Conference 2022

The demise of the 60/40 means portfolios need trend
The seismic shift in economic, social and political themes means the future ain’t what it used to be – rendering the 60/40 portfolio inadequate.
Razvan Remsing, Aspect Capital | 0.50 CE | Read, Watch, Listen

Strategies | Finology

Research Review: Financial literacy and sequencing risk
With ever greater participation in superannuation, the accumulated sum held those entering retirement is often significant. But do older people have the cognitive ability and financial acumen to invest effectively?
Ron Bird, ANU & Portfolio Construction Forum | 2.00 CE | Read

Forum CE Library - over 660 CE/CPD hours
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Forum CIMA CE Library - over 125 CE hours
This subset of our full 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, Legislated, FMA, etc).
Earn CIMA CE hours

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.