Forum Fodder

Forum Fodder | Friday 22 September 2023

“There’s not just one future. You have to think about thinking in terms of futures, because we don’t know what’s coming.” - Vikram Mansharamani, PhD, Visiting Fellow, Portfolio Construction Forum, at Strategies Conference 2023 (23 August 2023).

All the best for another week’s continuing education!
Graham
P.S. Mark Your Diary! Portfolio Construction Forum Research Symposium (Wed 01 Nov 2023, Sydney) - Exploring contemporary investment research issues. With an emphasis on peer discussion and debate, Research Symposium is essential for senior practitioners responsible for researching and selecting investment solutions for inclusion on APLs, models and multi-manager portfolios. Invitations will be sent next week.

Markets

How global currencies end
Whether the dollar retains its global role will hinge on whether the US brings its soaring debts under control, avoids another unproductive debt-ceiling showdown, and gets its economic and political act together more generally.
Barry Eichengreen, University of California | Read

Strategies | Markets | As seen at Strategies Conference 2023

Three global risks affect everything – you must do something(s)!
Three gigantic, global, interconnected risks have the potential to upend the world as we know it. Investors who understand these will be better positioned to successfully navigate the uncertainty plaguing our world.
Vikram Mansharamani, Visting Fellow | 0.75 CE | Listen, Watch

Strategies | Markets

Crockpot: Chinese equities are too big a market to ignore
Owning or not owning 4% of the global equity market is not going to make or break any portfolio. As for being too big to ignore? It’s nuts and you can clearly see it’s nuts.
Tim Farrelly, farrelly’s Investment Strategy | Read

Investing | Finology | Philosophy | As seen at Strategies Conference 2023

If you do anything, use behavioural analysis in manager selection
In the same way that Moneyball has swept every professional sport, data science is bringing greater transparency to portfolio managers’ decision-making skill. To select managers capable of outperforming, behavioural analysis is crucial.
Clare Flynn Levy and Greg Dean | 0.50 CE | Read, Listen, Watch

Strategies | Markets | Philosophy | As seen at Strategies Conference 2023

If you do anything, increase your exposure to private markets
Opinions about private markets are often not rooted in facts, due in part to the fact that data on private markets has been scarce. But data is available and it debunks some of the common misconceptions about private markets.
Mario Giannini, Hamilton Lane | 0.50 CE | Read, 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

The global economy’s real enemy is geopolitics, not protectionism
The distinction between free trade and protectionism not only misrepresents recent history, it also misconstrues today’s policy transitions and the conditions needed for a healthy global economy.
Dani Rodrik, Harvard University | Read

Markets | As seen at Strategies Conference 2023

If you do anything, beware the mania in AI stocks
Artificial intelligence will revolutionise our lives - but investors should beware the lofty multiples being assigned to AI-related stocks. We are in a replay of the dotcom bubble.
Dominique Dwor-Frecaut, Macro Hive | Listen, Watch

Strategies | Markets | Philosophy | As seen at Strategies Conference 2023

If you do anything, embrace regime change in portfolios
Markets have undergone a regime shift - to prosper, we need to understand the factors that will be crucial to building multi-asset portfolios capable of delivering financial wellbeing in the years ahead.
Steve Hanke, Johns Hopkins University | 0.50 CE | Listen, Watch

Strategies | Markets | As seen at Strategies Conference 2023

A regime shift demands an increased allocation to bonds
At a time when “you can do anything”, there are meaningful implications and opportunities for portfolio rebalancing and investors still structurally underweight bonds need to put aside recency bias and “do something” - now.
Rob Mead, PIMCO | 0.25 CE | Listen, Watch

Markets | Philosophy

The 40-year dream regime is over, you can’t do nothing
August 1982 was a banner month. It saw the dawn of a new regime for investors – and for record labels – that was to run for 40 years. But in 2022, cash rates finally ended their 40-year decline. And the world turned for investors.
Graham Harman, Portfolio Construction Forum | Read

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

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.
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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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