Forum Fodder

Forum Fodder | Friday 18 September 2026
“Warsh is being forced to choose between two demanding overlords: 1) The President of the United States; or 2) A global bond market that demands a reasonable inflation-adjusted return on its investment. My guess, and the consensus in futures markets, is that Warsh fears the bond market more.” - Jon Hilsenrath, US monetary policy analyst and former writer at The Wall Street Journal (16 September 2026)

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

Markets

After the AI bubble bursts
Just as debt markets fuelled the global financial near meltdown that followed from that crisis, their exposure to AI will drive developments now. The problem is that we possess only very limited public information about those markets.
Barry Eichengreen, University of California | Read

Investing | Finology | Philosophy | As seen at Strategies Summit 2026

There’s both an art and science to being good at being wrong
By understanding the investment behaviours of stock market “maestros”, practitioners can identify highly skilled fund managers and improve their own portfolio construction decisions, better equipping them to deliver the ultimate “prize” for clients - financial wellbeing.
Clare Flynn Levy, Essentia Analytics | 0.75 CE | Watch, Listen, Read

Strategies | Markets | Investing As seen at Strategies Summit 2026

Sports, media and entertainment is too compelling to ignore?
Supported by durable long-term growth trends and a history of low correlation to traditional markets, the full SME opportunity is too compelling for investors to ignore.
Jeevan Sagoo, Ares Management | 0.25 CE | Watch, Listen

Strategies | Investing | As seen at Strategies Summit 2026

Equal-weighting your best ideas wins the compounding prize
Every active portfolio holds two bets: selection, which is measured, and sizing, which is merely asserted. Decades of evidence show naive equal weighting is remarkably hard to beat.
Brian Arcese, Foord Asset Management | 0.50 CE | Watch, Listen

Strategies | Markets

Market Signals: The hurdle rate is moving higher
The market has entered an unusual phase. Growth is still relatively strong. Earnings remain supportive. AI investment remains powerful. The hurdle rate for almost every investment is rising. This is not yet a conventional risk-off environment. It is a repricing of what capital is worth.
Nick Schoenmaker, Portfolio Construction Forum | 0.25 CE | Read

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 (incl 1.00 ethics) | Enrol

Markets

Don’t mess with markets
Intervening in financial markets is a fool’s game - yet many seem incapable of internalising that lesson. So it is with US Treasury Secretary Scott Bessent, as he seeks to manipulate currency and bond markets.
Stephen Roach, Yale University | Read

Strategies | Markets | As seen at Strategies Summit 2026

Volatility strategies win the prize in this uncertain world
While often overlooked by investors, volatility as an asset class is driven by a genuine risk-transfer premium and is therefore intuitive, attractive and – importantly - sustainable despite these macro changes. To make portfolios more resilient while still meeting return targets and delivering investors peace-of-mind (Eyes on the Prize!), volatility is worth exploring.
Mattias Soderberg, SouthPeak Investment Management | 0.25 CE | Watch, Listen

Strategies | Markets | As seen at Strategies Summit 2026

Forget 60/40 and instead arbitrage for real alpha
The shift from low inflation and negative stock-bond correlations is structural and has rendered conventional multi-asset diversification inadequate. Practitioners must look beyond public markets and directional risk. Non-directional digital asset derivatives takes the prize, providing resilience essential for multi-asset portfolios.
Clint Maddock, Digital Asset Funds Management | 0.25 CE | Watch, Listen

Investing

Research Review: The problem of past performance
When making decisions, we all look at past outcomes as one input. This paper questions the appropriateness of the common methods of measuring investment manager performance and suggests we should focus on measures that are of more relevance to actual investor outcomes.
Ron Bird, Australian National University | 1.00 CE | Read

Strategies | Markets

Market Signals: The bottleneck has moved to capacity
The AI revolution may ultimately create abundance. The current investment regime is being defined by the scarcity encountered while building it. The next phase of the cycle will be determined by which assets own productive capacity and which assets can finance it.
Nick Schoenmaker, Portfolio Construction Forum | 0.50 CE | Read

Markets

Oil shocks are no longer so shocking
The Persian Gulf is in an unstable disequilibrium. While the economic impact has been relatively modest, recent developments do suggest that the tail risks are larger than financial markets are currently pricing in.
Nouriel Roubini, Macro Associates | Read

Investing | Finology | Philosophy | As seen at Strategies Summit 2026

The Inquisitor: Behaviour is key to alpha - Clare Flynn Levy
Behavioural analysis enables a deeper insight into fund performance and the identification of highly skilled managers capable of generating consistent investment alpha.
Robert Huebscher, Portfolio Construction Forum | 0.75 CE | Watch, Listen

Strategies | Markets

Trade finance is a portfolio diversifier
Dating back to the 13th century, trade finance - loans that provide short-term financing to support the physical flow of goods - is one of the oldest forms of credit. More investors are turning towards this asset class as a diversifier in their portfolios.
Federated Hermes | 0.25 CE | Read

Strategies | Markets

Market Signals: The AI boom has met its capital constraint
Markets experienced one of the most violent reversals of the artificial-intelligence cycle during the past week, but the most important development was not the fall itself. It was what happened next.
Nick Schoenmaker, Portfolio Construction Forum | 0.25 CE | Read

Forum CE Library - over 1,000 CE/CPD hours
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Forum CIMA CE Library - over 170 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).
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