Forum Fodder

Forum Fodder | Friday 26 May 2023

“I think everyone should be prepared for rates going higher from here… you should be prepared for [a US interest rate of] six percent, seven percent.” - Jamie Dimon, CEO of JPMorgan (22 May 2023)

All the best for another week’s continuing education!
Graham
P.S. Mark Your Diary! Strategies Conference 2023 (23-24 August 2023). Join us in person at our live studio, a live site, or via live stream and earn 14+ CE hours. Registration opens next week.

Markets

Sell in May and go away?
We should never let rules of thumb override financial fundamentals, but there are times when fundamentals become quite hazy. Recent inflation data suggests that we are in such a period right now.
Jim O’Neill | Read

Markets | Finology | Philosophy | Rated in the top 5 at Finology Summit 2023

I believe behavioural alpha is the most sustainable
Investors today have more knowledge than any prior generation, however there remains a chasm between knowing and doing. Acknowledging we are all biased, because we are all human, is the first step to better decisions.
David Wanis, Longwave Capital | 0.25 CE | Listen, Watch

Strategies | Finology | Philosophy | Rated in the top 5 at Finology Summit 2023

I believe certainty of income leads to confidence
Retirement strategies must adapt in line with markets and demographics trends and the additional risks that are relevant for investors in decumulation.
Mark Lapedus, Allianz Retire+ | 0.50 CE | Listen, Watch

Finology (Ethics)

Active trust building is ethical
Trust is the product of two judgements clients make about us - our competence and our benevolence. So trust could, at least partly, be won without being earned. So is it ethical to try?
Herman Brodie, Prospecta | 0.75 CE | Listen, Watch

Investing | Philosophy

Research Review: Active index investing
The most recent evolution in index investing has been a drift into the active world. Until recently, active passive investing has not been subject to much analysis. The two papers considered here begin to make some inroads.
Ron Bird, Australian National University & Portfolio Construction Forum | 2.50 CE | Read

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

Winners and Losers in the AI Arms Race
Throughout history, technological change has created both winners and losers. There is no reason why AI, like previous technologies, shouldn’t produce more of the former than the latter.
Barry Eichengreen, University of California | Read

Strategies | Markets

Crockpot: Don’t buy High Yield Debt until it is very, very cheap
Only buy High Yield Debt when it is super cheap? It’s nuts and you can clearly see it’s nuts.
Tim Farrelly, farrelly’s Investment Strategy | Read

Finology | Philosophy | Rated in the top 3 at Finology Summit 2023

I believe our brains can beat uncertainty
Confidence in a sea of confusion is key to success. Using three tools of persuasion, we can create a sense of certainty even when who knows what is just around the corner.
Adam Ferrier, Thinkerbell | 0.50 CE | Listen, Watch

Finology | Philosophy | Rated in the top 10 at Finology Summit 2023

Analysing decisions not results is essential for better alpha
Decision attribution analysis provides a crucial lens on equity manager skill, benefiting asset owners and fund buyers as they select and monitor managers.
Clare Flynn Levy, Essentia Analytics | 0.50 CE | Read, Listen, Watch

Strategies | Markets | Investing | Finology | Philosophy

Research Review: The adaptive markets hypothesis
Despite widespread criticism of the efficient markets hypothesis, development of comparably broad alternatives has been lacking. One promising direction is the adaptive markets hypothesis which seeks apply the concepts and methods of ecology and evolutionary biology to financial market dynamics.
Rob Hamshar, Portfolio Construction Forum | 2.50 CE | Read

Markets

No respite from the slow-motion US-China collision
Fragmentation and decoupling are becoming the new normal - US and China remain on a collision course, and a dangerous deepening of the ongoing “geopolitical depression” is all but inevitable.
Nouriel Roubini, Roubini Macro Associates | Read

Markets | As seen at Markets Summit 2023

A return to progress is a silver lining of Covid-19
As economies continue to recover from the catastrophe of Covid-19 lockdowns, we must re-embrace the pursuit of progress, an idea that is central to science, freedom, and a thriving society.
Gigi Foster, University of New South Wales | 0.25 CE | Listen, Watch

Markets | As seen at Markets Summit 2023

Secular growth opportunities can be identified in a VUCA World
After a chaotic period, across most asset classes, silver linings are emerging. Global equity investors can capture these by identifying companies best placed to benefit from shifts in energy and technology.
Nikki Thomas, Magellan Financial Group | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2023

For global smalls, the macro doesn’t matter - cash flow is King
Once the decision has been made to invest in global small caps, fundamentals return to the fore. Limited research coverage and inefficiencies in the market are the opportunity.
Marcus Burns, Spheria Asset Management | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2023

Markets Summit 2023 - Scene setter & key takeouts
Established in 2009, Markets Summit is THE investment markets scene setter of the year, focusing on the key drivers and outlook for the markets. As usual, 2023 Faculty were each challenged to offer their best high conviction proposition in the context of the program theme - this year, “Every VUCA cloud has a silver lining!” Their high-conviction faculty propositions can be distilled into three key discussion threads, supporting the case that, for portfolios, every VUCA cloud has a silver lining! Watch the highlights video, read the key takeouts - and then delve into the high conviction presentations that most interest you.
Portfolio Construction Forum | Read, 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, FAAA, FMA and CIMA^® CE/CPD requirements, to name just a few.
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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, FAAA, FMA etc).
Earn CIMA CE hours

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