Forum Fodder

Forum Fodder | Friday 01 September 2023

“Uncertainties, both old and new, complicate our task of balancing the risk of tightening monetary policy too much against the risk of tightening too little… As is often the case, we are navigating by the stars under cloudy skies.” - US Federal Reserve chair Jerome Powell at the Jackson Hole Economic Symposium (25 August 2023)

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

Markets

Does an expanded BRICS mean anything?
Now that the BRICS (Brazil, Russia, India, China, and South Africa) will accept new members, can the grouping pose a genuine challenge to the prevailing global-governance institutions?
Jim O’Neill | Read

Strategies | Markets

Spotlight on hedge funds
For the first two decades of their life, hedged funds produced outstanding returns on average. For the past 20 years, it’s not been so good. In this Spotlight, we review the reasons why, and whether there are any hedge funds worthy of inclusion in portfolios.
Tim Farrelly, farrelly’s Investment Strategy | Read

Markets

If you do anything, think about energy, AI and geopolitics
Beyond a near-term sluggish outlook for global growth, practitioners should think about three key forces which will drive long-term market risks and opportunities.
Ronald Temple, Lazard | Listen, Watch

Markets

If you do anything, exploit the alpha in currency markets
Since central banks abandoned their ultra-loose monetary policies, currencies once again offer a source of investment returns, as well as portfolio diversification.
Razvan Remsing, Aspect Capital | 1.00 CE | Read, Listen, Watch

Strategies | Markets

The equity affair is fraught - it’s time to partner with bonds
Achieving equity like returns with much lower risk and equivalent liquidity is the holy grail that is now on offer from high yield.
Paul Benson, Insight Investment | 0.25 CE | Listen, 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 mild global contraction is coming
While a severe hurricane for the global economy looks less likely than it did a few months ago, we are still likely to encounter a tropical storm that could cause significant economic and financial damage.
Nouriel Roubini, Roubini Macro Associates | Read

Markets

Q&A: US dollar will remain the world’s reserve currency
While the US dollar’s share of global foreign exchange reserves is in long-term decline, the currency’s dominance will continue despite the rising risk of embedded inflation.
Woody Brock, SED | 1.00 CE | Read, Listen, Watch

Strategies | Markets

You can’t do everything, but you can focus on trends
As economies slow, fixed income will once again provide portfolio diversification, allowing practitioners to focus on capturing long-term trends such as climate change and artificial intelligence.
Chris Iggo, AXA Investment Managers | 0.25 CE | Listen, Watch

Finology

Motivating clients to be more active in the financial planning process
Advice Engagement is a framework that helps advisers focus on understanding their clients’ needs and improving their outcomes, by improving the likelihood that the client will accept and follow the advice.
Michael Lecours, fpPathfinder, courtesy of Kitces.com | Read

Finology | Philosophy

Philosophy Lecture: Ethics matters and ethical awareness
This lecture explores the concept of ethics, contemporary issues in financial services as they relate to ethics, and the relevancy and application of ethics in our everyday lives.
Clare Payne, EY | 2.50 CE | Read, Watch

Strategies | Markets | Investing

Harry Markowitz (28 August 1927 – 22 June 2023)
Until the early 1950s, investing was an art. Then, along came the publication of work undertaken by Harry Markowitz (1952). Over a 20-year period, this played the primary role in moving investing from an art to a science.
Ron Bird, ANU & Portfolio Construction Forum | Read

Strategies | Markets

Inflation volatility demands investors think differently about how to invest
As we move into an era which is both more inflationary and more volatile, asset allocators will need to adapt in order to deliver returns. A dynamic and unconstrained approach to asset allocation will become essential.
Fiona Ker, Ruffer | 0.25 CE | Listen, Watch

Strategies | Finology | Philosophy | As seen at Finology Summit 2023

A good spending plan is essential for a good financial plan
A critical part of any retirement plan is a spending plan (which is not the same as a budget). Ultimately, a good spending plan helps keep clients’ investments on track.
Tim Farrelly, farrelly’s Investment Strategy | 0.25 CE | Listen, Watch

Finology

Research Review: A closer look at fundamental beliefs
The authors of this paper propose that it’s not just confirmation bias, but the way it interacts with a specific set of fundamental beliefs that generates a surprisingly wide array of bias effects.
Rob Hamshar, Portfolio Construction Forum | 1.00 CE | Read

Markets | Investing | Philosophy

Focus on quality companies for superior risk-adjusted returns
Protecting capital in down markets is the foundation for superior returns – and quality investing, with a long-term investment horizon, protects shareholder wealth on the downside, while capturing steady capital growth.
Craig McCourtie, Northcape Capital | 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 700 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 (AU), FAAA, FMA and CIMA^® CE/CPD requirements, to name just a few.
Earn CE/CPD hours

Forum CIMA CE Library - over 150 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 (AU), FAAA, FMA etc).
Earn CIMA CE hours

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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.