Forum Fodder

Forum Fodder | Friday 27 October 2023

“We are now living through the most dangerous time in the last 60 years… This confrontation between the liberal democracies, led by the US, and the autocracies is gradually becoming worse.” - Former Australian foreign minister Alexander Downer (22 October 2023)

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

Investing

Research Symposium 2023 “Exploring contemporary investment research issues”
AEDT 8.30am-5.15pm Thursday 23 November 2023 (Sydney) | 6+ CE
Essential for all senior practitioners, Research Symposium will challenge your portfolio construction thinking by debating issues around researching, selecting and implementing investment solutions to help build better quality investor portfolios.
Presented in November each year (but on hold in 2020-2021 and virtual only in 2022 due to Covid), and supported by CIMA Society, we’re delighted to resume the Research Symposium as an “in-person” only program (delegates cannot attend via live stream as there is a strong emphasis on roundtable peer discussion and debate). This year’s program features behavioural finance specialist Herman Brodie on how to overcome the heuristics that have us make poor investment “sell” decisions, along with five hot topic sessions challenging current practice on researching, selecting and/or implementing investment solutions for inclusion in APLs, models and multi-manager portfolios.
A$0 for Practitioners | Contact us to register.

Markets

The five main drivers of global economic uncertainty
Even in the highly unlikely event that the current geopolitical situation improves rapidly, a deep sense of uncertainty will remain, driven by five economic and financial factors.
Mohamed El-Erian | Read

Markets

Thinking Differently: Beyond the razzle dazzle
Those calling for the cash rate to be raised to a more appropriate “real” level or to match the Fed Funds rate to avoid “imported inflation” should be duly ignored.
Wayne Fitzgibbon, CAS Market Insights | Read

Strategies | Markets | As seen at Strategies Conference 2023

In 2023, every business is an AI business
We are living in the middle of a major societal shift towards not just the use of, but the reliance, dependence and advancement of our lives being built on technology that seeks to emulate us, mimic us and envelope us.
Grant McCarthy, Tidal Ventures & Shane Baldacchino, Microsoft | 0.25 CE | Listen, Watch

Strategies | Markets | As seen at Strategies Conference 2023

If you do anything, invest in companies that embrace AI
AI has been described as important a lever for detaching economic growth from population growth as the steam engine. Companies that don’t use AI to remake their business simply don’t have a place in today’s portfolios.
Alex Pollak, Loftus Peak | 0.25 CE | Listen, Watch

Strategies | Investing | As seen at Strategies Conference 2023

Investing Roundtable - You can do anything, just not everything
The Investing Roundtable explored key challenges and opportunities that practitioners should be thinking about when building quality multi-asset, multi-manager portfolios - allocations to global small cap equities, returns-based fund style analysis, and optimised portfolio design.
Bronwen Moncrieff, John Laver, Michael Furey, Naomi Finnigan | 0.75 CE | Listen, Watch

Markets | Investing

Research Review: Wallstreet bets - then and now
The WallStreetBets phenomenon - and the sensational short squeeze of Gamestop in 2021 in particular - demonstrated the potentially dramatic influence of collective retail behaviour on financial markets.
Rob Hamshar, Portfolio Construction Forum | 2.00 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

The Bank of Japan’s seductive widow-maker trade
Could Japan become the world’s next great growth story? Warren Buffett seems to think so and the IMF expects the Japanese economy to grow by 1.4% in 2023. But the Japanese economy could also be a ticking time bomb.
Kenneth Rogoff | Harvard University | Read

Strategies | Markets

Thinking Differently: Don’t ignore the future that has already happened
Focussing on what we know about the world we live in and figuring out what it might mean for investing is much less glamourous and newsworthy than the prediction game, but it’s potentially more rewarding.
Wayne Fitzgibbon, CAS Market Insights | Read

Strategies | Markets | As seen at Strategies Conference 2023

Don’t sit on the sidelines, invest in Global Corporate Bonds
Investment-grade corporate bonds can improve portfolio risk-adjusted returns. A focus on the highest quality global corporate bonds will provide opportunities for investors to capture future income, as well as add a defensive anchor within portfolios.
Jeremy Cunningham, Capital Group | 0.50 CE | Listen, Watch

Strategies | Markets | As seen at Strategies Conference 2023

If you could predict one thing, make it equity earnings surprise
Brokers hire a great many analysts to write and publish detailed analysis on corporate earnings forecasts. It’s right to focus on earnings, but the level of delivered growth is less important than the surprise in growth (positive or negative).
Ram Rasaratnam, AXA Investment Managers | 0.50 CE | Listen, Watch

Strategies | Markets | As seen at Strategies Conference 2023

If you do one thing, rebalance equities with cash generators
As markets become narrow and expensive, core, growth and quality portfolios are converging. This presents risks for many portfolios but a great opportunity for valuation-focused investors.
Warryn Robertson, Lazard Asset Management | 0.50 CE | Listen, Watch

Strategies | Finology | Philosophy

Laying Chicago economics to rest
There is good reason to think that the economic orthodoxy of the past 50 years has one foot in the grave. The question is whether the mainstream economics profession has gotten the memo yet!
Antara Haldar, University of Cambridge | Read

Markets | Philosophy

Q&A: Outperforming markets given history rhymes not repeats
The fact that structural changes do exist and that historical data are often of limited relevance presents a major opportunity for investors seeking to outperform others.
Woody Brock, SED | Listen, Watch

Strategies | Markets

Thinking Differently: Hamlet and the October Effect
The three biggest crashes in US stock markets occurred in October and there have been other significant October falls over the past 100 years. While common sense suggests the “October Effect” is nothing more than market folklore, should it be ignored?
Wayne Fitzgibbon, CAS Market Insights | Read

Strategies | Markets | As seen at Strategies Conference 2023

If you do anything, capture energy transition via infrastructure
The transition a net zero emission economy offers risks and opportunities for investors. Infrastructure is a simple way to benefit from the transition to a net zero emission economy and represents a multi-decade growth opportunity.
Gerald Stack, Magellan Asset Management | 0.50 CE | Listen, Watch

Strategies | Markets | As seen at Strategies Conference 2023

Global private debt is a core portfolio allocation
Yield premium over comparable liquid markets, control, upfront economics and low historical volatility and default rates make private credit an asset class to consider for a core allocation in investors’ portfolios.
Teiki Benveniste, Ares Australia Management | 0.50 CE | Listen, Watch

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

When investing, a youthful mindset is everything
The young are better able to navigate VUCA owing to their natural growth and learning mindset. In an environment where investors can do anything, just not everything, we can all benefit from adopting a youth mindset.
Tassos Stassopoulos, Trinetra Investment Management | 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.
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

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.