Forum Fodder

Forum Fodder | Friday 31 May 2024

We’re pleased to announce the release of our Short Course: Mastering private debt investing, examining the unique characteristics that make private debt a compelling investment. Curated and produced by Portfolio Construction Forum, and led by private debt investing subject matter expert, Metrics’ Andrew Lockhart, this self-paced, two-hour online short course equips you with the expertise to navigate private debt investment confidently across diverse market conditions.

All the best for another week’s continuing education!
Graham
P.S. Registration opens next week!. Join us for the 23rd annual Portfolio Construction Forum Strategies Summit 2024 (Wednesday & Thursday 21-22 August), at our live studio in Sydney, as part of a group at a live site, or via live stream. Early Bird registration opens next week! Meanwhile, watch the highlights from past programs

Markets

Central banks’ new-old inflationary bias
Listening to central bankers, one would think the recent bout of high inflation was merely an excusable post-pandemic forecasting error made under extreme uncertainty. But this presumes a level of central-bank independence that is simply unrealistic.
Kenneth Rogoff, Harvard University | Read

Strategies

Guide to providing advice to wholesale clients
This Guide sets out a procedure to recommend financial products that are only available to Wholesale Clients including the method for classifying a client as a Wholesale Client and common misconceptions about providing advice to them.
Wildflower Capital | 0.50 CE | Read

Markets | As seen at Markets Summit 2024

Private debt can counter history
History shows investors should always expect the unexpected – which simply underscores the benefits of adding private debt to a portfolio.
Andrew Tremain, Metrics Credit Partners | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2024

Private Credit is a structural evolution, not risky business
Despite outpacing traditional fixed income and even exceeding long-run equity returns, some commentators argue that Private Credit represents emerging systemic risk. That is a fundamental misunderstanding.
Frank Danieli, MA Financial Group | 0.50 CE | Listen, Watch

Finology

Research Review: Financial nudging and financial mindfulness
It is well-established that investors and service providers should take human behaviour into account when making financial decisions. These papers look at how two techniques drawn from psychology - financial nudging and financial mindfulness - can influence investor behaviour.
Ron Bird, Australian National University & Portfolio Construction Forum | 1.50 CE | Read

Strategies | Markets | Investing | Philosophy

Short Course: Mastering private debt investing
Examining the unique characteristics that make private debt a compelling investment. Private debt has grown in popularity as an alternative source of debt financing, with the asset class tripling in size since 2008. Curated and produced by Portfolio Construction Forum, and led by private debt investing subject matter expert, Andrew Lockhart, this self-paced, two-hour online short course equips you with the expertise to navigate private debt investment confidently across diverse market conditions.
Metrics & Portfolio Construction Forum | 2.00 CE | Enrol

Finology | Philosophy | ** Premium **

On The Hunt: Ethical behaviour profiling
On the Hunt is a monthly lecture series focused on the human factors in investment portfolio construction, including the ethical implications. It will help you better identify and understand how investing biases, beliefs and behaviours impact portfolio construction practices - and therefore, investment outcomes - to help you build better quality investor portfolios.
Katherine Hunt, Ardentura Consulting | 1.00 CE (Ethics) | Premium | Enrol

Finology | Philosophy | ** Premium **

Behavioural Finance: Investment decision-making short course
Led by behavioural finance expert, Herman Brodie, this online, on-demand course completed at your own pace 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 myth of central bank independence
If governments are to be held responsible for investment and unemployment, they must control monetary policy. And, while central banks strive to maintain the appearance of independence, they often do what governments want.
Robert Skidelsky, Warwick University | Read

Markets

Decarbonisation happens regardless of Trump
Equity investors should set aside their fears of a second Trump presidency and focus instead on the structural opportunities presented by decarbonisation.
Mike Harut, Munro Partners | Listen, Watch

Markets | As seen at Markets Summit 2024

GREITs - not drowning, waving!
For the last two decades, private equity has consistently outperformed the public market, through market cycles and with less volatility. In 2023, private equity continued to show superior returns in the mid-market. Looking forward, the outlook for is stronger.
Andrew Parsons, Resolution Capital | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2024

Private equity outperforms, with less volatility
Global REITs have been overwhelmed by the rapid rise in interest rates, headlines about the demise of the office, and concerns over bank lending to commercial real estate. However, history is not repeating. The industry is in strong shape.
Justin England, Five V Capital | 0.50 CE | Listen, Watch

Finology | Ethics hours!

Research Review: Moral luck and investment
When evaluating investment performance, we generally acknowledge a fundamental distinction between skill and luck. This research paper looks at the concept of “moral luck” and finds that the outcome of an investment recommendation may shape others’ evaluations of both the skill and the morality of the investment adviser.
Rob Hamshar, Portfolio Construction Forum | 1.50 CE | Read

Markets

The dilemmas of the dollar
The dollar has strengthened sharply in recent months and a rising crescendo of apocalyptic financial talk threatens to spook markets. Can - and should - anything be done to head off the dollar’s strength?
Barry Eichengreen, University of California | Read

Investing | Philosophy

Bird’s Eye View: Measuring investment performance
We appoint active fund managers because we believe they will add value by outperforming the index, and we try to measure that value add as an indication of the manager’s investment skill. But how good are the measures we use?
Ron Bird, ANU & Portfolio Construction Forum | Read

Markets | As seen at Markets Summit 2024

Use Australian Equities to hedge this 1970s-like cycle
Higher than desired inflation is now structurally embedded in the global economy. The boom-bust inflation cycle of the 1970s gives a useful historical parallel, providing investors insight into the coming decade.
William Curtayne, Milford Asset Management | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2024

The Magnificent 7 is not driving a tech wreck repeat
The technology sector has now eclipsed its all-time high relative to the S&P 500, exceeding its dot.com bubble highs. So this begs the question – is this a bubble and what is the risk of another tech wreck?
Alan Pullen, Magellan Asset Management | 0.50 CE | Listen, Watch

Markets | As seen at Markets Summit 2024

Not to harp, but senior loans deliver a higher Sharpe!
Market cycles show there is a clear anomaly in the Senior Secured Loans space with record setting yields and compelling risk-adjusted returns.
Gerard Fogarty, Invesco | 0.50 CE | Read, Listen, Watch

Forum CE Library - over 800 CE/CPD hours
Complimentary for all Forum members, the Forum’s online on-demand CE Library offers over 800 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.ac.nz 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.