Forum Fodder

Forum Fodder | Friday 28 April 2023

“The relationship between the US and China is likely to determine humanity’s fate in the 21st century. It will determine whether there will be peace, prosperity and protection of the planetary environment, or the opposites.” - Martin Wolf, chief economics commentator at the Financial Times (26 April 2023)

All the best for another week’s continuing education!
Graham

Finology

Finology Summit 2023 - Uncertainty | Exploring human factors in portfolio construction
AEST 8.30am-5.30pm Wednesday 03 May 2023
Finology Summit explores the human factors – beliefs, behaviours and principles - in portfolio construction. The focus of this year’s program is “Uncertainty”. Designed and curated by our specialist, experienced and independent team, the program features an exceptional Faculty of experts from around the world, each offering a high conviction perspective on a facet of investment uncertainty and/or certainty. This year’s program includes: Adam Ferrier on how our brains can beat uncertainty; Clare Flynn Levy on why analysing decisions not results is essential for better alpha; Elise Payzan-Le Nestour, PhD, on how neurofinance insights can improve investment decision-making; Tim Farrelly on why a good spending plan is essential for a good financial plan; and, Herman Brodie on why behavioural ethics are not just for ‘bad’ people.
Join us at our live studio, a live site, or via live stream | 7-11 CE | Check out the final program and register now!

Markets

The economic costs of America’s conflict with China
In a wide-ranging speech last week, Janel Yellen reversed the terms of US engagement with China, prioritising national-security concerns over economic considerations.
Stephen Roach, Yale University | Read

Markets | As seen at Markets Summit 2023

Private debt is your safe port in any storm
In these unsettled VUCA conditions, private debt can offer short duration with a focus on capital preservation, a silver lining for investors in the form of consistent, risk-adjusted returns and income.
Andrew Lockhart, Metrics Credit Partners | 0.50 CE | Listen, Watch

Markets | Philosophy | As seen at Markets Summit 2023

Sustainable investing (done right) is capitalism at its best
ESG analysis advances and drives sustainable investing by helping investment practitioners develop a clearer view of a company’s true market value, consistent with their fiduciary duty.
David Blood, Generation Investment Management | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2023

G-REITs are the liquid real estate value play
Although the consequential volatility casts a VUCA cloud over global REIT performance, the silver lining is that this is transitory, in part reflecting a number of the sector’s key attributes.
Andrew Parsons, Resolution Capital | 0.50 CE | Listen, Watch

Investing

Research Roundtable: Ruffer Total Return International Australia
This Research Roundtable focused on the Ruffer Total Return International (Australia) 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 | 2.00 CE | Read, Watch

Finology | Philosophy

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

A BRICS threat to the US dollar?
Until the BRICS countries can find a credible alternative for their own savings, the greenback’s dominance will not really be in doubt.
Jim O’Neill | Read

Markets | As seen at Markets Summit 2023

The RBA is crashing the party
The RBA is set to continue rate hikes that will bring on an earnings recession in 2023. Use Australian equity market weakness later in this year as the silver lining to position for an improved long-term outlook for Australian equities.
William Curtayne, Milford Asset Management | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2023

We live in a multi-polar world and ought to invest like it
Investors will have to work harder to make money than just owning US beta. The silver lining is that there are large equity markets and sectors that are cheap with significant growth drivers.
Julian McCormack, Platinum Asset Management | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2023

Portfolios need to embrace secular trends
Sustainability is at the core of future societies. By channelling investments in companies with sustainable practices, heightened by environmental and social conscience, investors can seize opportunities in transitioning economies.
Ecaterina Bigos, AXA Investment Managers | 0.50 CE | Listen, Watch

Markets | Strategies | As seen at Markets Summit 2023

Private equity is no longer an alternative asset class
Inclusion of private equity as an alternative asset in portfolios is an out-of-date approach that does not consider secular trends in companies staying private and the unfolding democratisation of PE.
David Chan, MLC Asset Management | 0.50 CE | Listen, Watch

Markets

The coming doom loop
The basic principle of duration risk seems to have been lost on many bankers, fixed-income investors, and bank regulators. After being a non-factor for the last 15 years, the interest-rate sensitivity of deposits has returned to the fore.
Nouriel Roubini, Roubini Macro Associates | Read

Markets | Rated in the top 3 at Markets Summit 2023

Decade-high yields alone don’t make bonds attractive
Those constructing portfolios must understand the nuances of bond risk/return drivers and how bond market performance can be impacted by different macro scenarios. Opportunities abound.
Gopi Karunakaran, Ardea Investment Management | 0.50 CE | Listen, Watch

Markets | Rated in the top 5 at Markets Summit 2023

In an AI world, semiconductors are the new oil
Global demand for greater computing power continues to escalate, presenting an exciting silver lining of possibilities and investment potential.
Nick Griffin, Munro Partners | 0.50 CE | Listen, Watch

Markets | Rated in the top 5 at Markets Summit 2023

The tide is set to rise for emerging markets equities
After a lost decade, cyclical and structural headwinds are abating for emerging market equities, while profound secular changes are becoming tailwinds. But the path ahead will look very different to the past.
Tassos Stassopoulos, Trinetra Investment Management | 0.50 CE | Listen, Watch

Finology | Philosophy | As seen at Finology Summit 2021

Ethical decision making is not an oxymoron
Many assume there are two kinds of business decision makers - those who are ethical and those who are not. However, most of us are both.
Dafna Eylon, Eylon Associates | 1.00 CE | Listen, Watch

Forum CE Library - over 700 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, Legislated (was FASEA), AFA, FPA, FMA and CIMA^® CE/CPD requirements, to name a few.
Earn CE/CPD hours

Forum CIMA CE Library - over 140 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 (was FASEA), FPA, AFA, FMA, etc).
Earn CIMA CE hours

Connect with us on LinkedIn
We 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. And of course, I’d welcome having an offline direct conversation with you any time.