Forum Fodder

Portfolio Construction Forum | 20 January 2023

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The Portfolio Construction Forum team


 
 
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Forum Fodder | Friday 20 January 2023

“Soft landings are the triumph of hope over experience. But sometimes hope does triumph over experience.” - Larry Summers, Former US Treasury Secretary at Davos 2023 (19 January 2023)

With investment markets more Volatile, Uncertain, Complex and Ambiguous (“VUCA”) than ever, this first Fodder of the year speaks directly to the theme of our upcoming Markets Summit (AEDT Wednesday 22 Feb 2023) “Every VUCA cloud has a silver lining!”. Vikram Mansharamani’s annual global development predictions, Ron Temple’s preview of his Markets Summit 2023 presentation, and we rehighlight Woody Brock’s views on inflation from end 2022, along with the Economic Scenarios Roundtable 2022’s predictions of three plausible, forward-looking economic and market scenarios that have a reasonable probability of occurring during the next two to three years.

All the best for a great year of continuing education ahead!
Graham
P.S. For our full 2023 calendar click here.

UPCOMING LIVE CE…

Markets

Markets Summit 2023 “Every VUCA cloud has a silver lining!”
AEDT 8.30am-5.45pm Wednesday 22 February 2023
For the first time in decades, an inflationary gale is rattling financial markets. This once-in-a-career regime shift poses many challenges for portfolio construction practitioners. The high VUCA (volatility, uncertainty, complexity and ambiguity) market environment continues! Yet, opportunities abound for those able to identify the powerful forces reshaping the outlook for markets and reorientate their portfolios accordingly. Every VUCA cloud has a silver lining!
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 | Register now!

LATEST ON-DEMAND CE…

Markets

23 global developments to watch over the next five years
Uncertainty and change are unavoidable realities of life. In the spirit of thinking differently and embracing uncertainty, I offer you this year’s global developments to watch over the next five years.
Vikram Mansharaman, Harvard University | Read


Markets

The fate of the global balance sheet
Just as the use of nuclear weapons promises “mutual assured destruction”, lack of economic cooperation will lead to “mutual assured deflation” because no single country can revive global demand.
Andrew Sheng and Xiao Geng | Read


Markets | Strategies

High inflation has a silver lining for portfolios
Brace for more market volatility in 2023, and orient portfolios to resilient fixed income and equity securities, and hedge fund and infrastructure managers.
Ronald Temple, Lazard Asset Management | Watch, Listen


Markets | Strategies

The US and world economy, and inflation
Nine months ago, we were told that the world would be in recession today. This did not quite happen. Now we are assured that 2023 will see a global recession, even in the US.
Woody Brock, Strategic Economic Decisions | Read


Markets | As seen at Strategies Conference 2022

Economic Scenarios Roundtable: The future ain’t what it used to be!
In stage two of our hypothetical Investment Committee meeting, three economists described and debated three plausible, forward-looking economic and market scenarios that have a reasonable probability of occurring during the next two to three years.
Dominique Dwor-Frecaut, Andrew Hunt, John McDermott | 0.75 CE | Watch, Listen

SHORT COURSE ON-DEMAND CE…

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

RECENT ON-DEMAND CE…

Markets

Will crypto survive?
FTX may be the biggest scandal in crypto so far. But, to paraphrase Mark Twain, rumours of the death of crypto itself have been much exaggerated.
Kenneth Rogoff, Harvard University | Read


Markets | Strategies | As seen at Strategies Conference 2022

Asset Class Outlook Roundtable: Future ain’t what it used to be!
In this third step of our hypothetical Investment Committee meeting, a diverse panel of asset class experts debated the implications of the three economic scenarios outlined in the Economic Scenarios Roundtable for medium-term (three years) asset class returns.
Rob Mead, Joseph Lai, Jacob Mitchell and Isaac Poole | 0.75 CE | Watch, Listen


Markets | Strategies | As seen at Strategies Conference 2022

Alternatives Roundtable: The future ain’t what it used to be!
There is increasing traction for the idea that, to succeed in today’s complex, uncertain world of investing, practitioners must embrace alternative investment strategies. But are they all they’re made out to be?
Tony Davidow, Angela Ashton, Piers Bolger & Razvan Remsing | 0.75 CE | Watch, Listen


Markets

What should jittery China investors do?
Western investors in China face a completely different economic terrain than the one in which they operated for more than a decade. In a rapidly deglobalising world, investors must consider their next moves carefully.
Dambisa Moyo, Versaca Investments | Read


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

Researchers’ Roundtable: The future ain’t what it used to be!
Practitioners must remain open-minded and continuously challenge their portfolio construction beliefs, techniques and tools. This session addressed three contemporary portfolio construction issues: We must use a risk-based framework for portfolio design; The value rotation has just begun; and, ESG ratings undervalue climate solutions…
Philipp Hofflin, Michael Furey, Michael Salvatico, David Wright | 0.75 CE | Watch, Listen


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

Infrastructure’s inflation hedge is real, yet misunderstood
Infrastructure’s unique inflation hedge characteristics protect companies and investors while allowing a tailwind of asset base growth to drive long-term total returns.
Shane Hurst, ClearBridge Investments | 0.50 CE | Watch, Listen


Strategies | Investing | As seen at Strategies Conference 2022

The future of private debt IS what it used to be!
If the question is how to achieve an attractive risk-adjusted return through all economic environments, then private debt is the answer. The future ain’t what it used to be - except for private debt.
Andrew Lockhart, Metrics Credit Partners | 0.50 CE | Watch, Listen


Investing

Research Roundtable: Warakirri Diversified Agriculture
This Research Roundtable focused on the Warakirri Diversified Agriculture 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.
Portfolio Construction Forum | 1.50 CE | Read, Watch


Markets

The age of megathreats
The world has entered a geopolitical depression with dangerous revisionist powers challenging the economic, financial, security, and geopolitical order that the US and its allies created after WWII.
Nouriel Roubini, Roubini Macro Associates | Read


Markets | Strategies

Spotlight on surviving bear markets
While equities do outperform in the long-term, the price we pay are the bear markets which periodically come along to test our staying power. This Spotlight is a guide to help investors survive bear markets.
Tim Farrelly, farrelly’s Investment Strategy | Read | Subscribe to Spotlight


Markets | Strategies As seen at Strategies Conference 2022

Asset Allocation Roundtable: Designing portfolios for future scenarios is critical
Our asset allocation consultants explain the asset allocation implications of the three Economic Scenarios and blended portfolio, and debate how best to implement the portfolio.
Sébastien Page, Tim Farrelly, Lydia Kav, Jonathan Ramsay, and David Wright | 0.75 CE | Watch, Listen


Strategies | As seen at Strategies Conference 2022

Private equity investing is critical in times of market turbulence
Private equity as an asset class is one of the longest-term strategies. Setting up a solid top-down framework is key to successful private equity portfolio construction.
Pauline Wetter, LGT Capital Partners | 0.50 CE | Watch, Listen


Investing

Research Roundtable: Warakirri Global Emerging Markets
This Research Roundtable focused on the Warakirri Global Emerging Markets 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.
Portfolio Construction Forum | 1.50 CE | Read, Watch

PLUS MORE ON-DEMAND CE…

Forum CE Library - over 660 CE/CPD hours
Complimentary for all Forum members, the Forum’s online on-demand CE Library offers over 660 CE/CPD hours of accredited learning resources, to help members meet the CE/CPD requirements of 20 governing bodies (regulators, associations, and institutes) including ASIC, APRA, FASEA, FMA, AFA, FPA and CIMA® CE/CPD requirements, to name a few.
Earn CE/CPD hours


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, FASEA, FMA, etc).
Earn CIMA CE hours

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