1. Research Review: More on Behavioural Issues

    Three recent research papers continue to grow our understanding of how behavioural traits impact on markets. The first provides insights into Warren Buffett's success; the other two examine the markets' response to earnings information.

    Ron Bird | 15-12-17 | 1.00 CE | More
  2. Maybe retirees should spend the kids' 'inheritance'

    Plenty of anecdotes suggest that baby boomers are spending their savings and will leave nothing for the next generation. Looking at the actual data, this is questionable.

    Aaron Minney | 05-12-17 | More
  3. Values, ethics and investing

    While some still firmly believe that values and ethics have no part to play in investing, the tide is turning. Values play a vital role in investment and business decisions - and, increasingly, investors care about more than just financial returns.

    Clare Payne, Charles Sampford, Jack Gray,  | 22-11-17 | 1.00 CE | More
  4. The Cocaine Brain and other biases

    Human beings are subject to behavioural biases, which negatively affect their ability to make rational choices. These behavioural biases create market inefficiencies that active investment managers can exploit to generate alpha.

    Stuart Rae | 13-11-17 | More
  5. The moral identity of Homo Economicus

    Two recent books indicate that a quiet revolution is challenging the foundations of economics, promising radical changes in how we view many aspects of organisations, public policy, and even social life.

    Ricardo Hausmann | 09-11-17 | 1 comment | More
  6. Philosophy Lecture: Value investing

    Value investing has proven successful over time but it requires discipline and a long-run horizon - and disagreement remains over whether the value premium will persist. What's your philosophy?

    Philipp Hofflin | 01-11-17 | 4.00 CE | More
  7. Another Nobel Surprise for Economics

    The winner of this year's Nobel Memorial Prize in Economic Sciences, Richard Thaler of the University of Chicago, is a controversial choice. For some in the profession, the idea that psychological research should even be part of economics has generated hostility for years.

    Robert J. Shiller | 16-10-17 | More
  8. Research Review: Old chestnuts

    Portfolio insurance - invented over 40 years ago - has experienced the renaissance that it very much deserves. Trend (momentum) investing dates back over 40 years, too - the success of which is traced back in this paper to over 100 years.

    Ron Bird | 10-10-17 | 1.00 CE | More
  9. Research Review: Red is bad, green is good

    Two recent studies provide evidence that issues unrelated to the fundamental operation of a firm impact their market valuation.

    Ron Bird | 21-09-17 | 1.00 CE | More
  10. Ethics has nothing to do with investment

    While some still firmly believe that ethics has nothing to do with investment, the tide is turning. Increasingly, clients are demanding ethical portfolios.

    Clare Payne | 24-08-17 | 0.25 CE | More
  11. We do a lot of things in this industry that are unhelpful

    Managers must both develop and implement an investment process - but we seem to be determined to deny them recognition for the former and to judge their performance on the latter.

    Ron Bird | 24-08-17 | 0.50 CE | More
  12. Investors should hedge their overall financial risk

    People often consider risks in isolation, and overpay for protection as a result. Rather than hedging against specific risks, investors should think like a game theorist.

    Shachar Kariv, University of California, Berkeley | 21-08-17 | More
  13. Revealing a client's true preferences

    Game theory, econometrics and distributed computing power can reveal a client's true preferences for risk, loss, uncertainty, time and goals – with scientific precision and in terms that clients can understand.

    Shachar Kariv, University of California, Berkeley | 20-08-17 | 0.50 CE | More
  14. Research Review: Financial ruin and biological age

    Two recent studies shed light on retirement income planning. One proposes a framework to avoid the pitfalls of shortfall probabilities. The other finds biological age impacts spending rates.

    Will Jackson | 15-08-17 | 1.00 CE | More
  15. Achieve client goals with minimum discomfort

    Observing how a client makes financial trade-offs can provide a more accurate measure of their risk preferences than if we ask questions about what they think they would do.

    Shachar Kariv, University of California, Berkeley | 18-07-17 | 1.00 CE | More
  16. What do we know about investor irrationality?

    It's become conventional wisdom that under-performance is due to the irrational investment behavior of individuals. It's time to question whether conventional wisdom has even a scintilla of meaning.

    Michael Edesess | 04-07-17 | More
  17. Buying happiness and satisfaction with greater cash reserves

    The classic view of cash when investing is that it's something to minimise. But a recent study found that we're just not content without a healthy allocation to cash. In fact, pushing investors to put all their cash to work increases their financial stress.

    Michael Kitces | 29-06-17 | More
  18. Masterclass NZ 2017 - Resources

    Masterclass NZ is a post-graduate extension program focused on contemporary issues that are fundamental to building better quality portfolios. The one-day program is comprised of five research-based, active learning sessions:

    16-06-17 | More
  19. Buy Low, Sell High. It sounds simple but clients need a framework

    Clients benefit from understanding the investment journey. Having prepared responses to scenarios improves the chance of success.

    Douglas Isles | 01-06-17 | 0.25 CE | More
  20. People know what to do. They just need to do it!

    Can clients easily change their behaviour? The theory of planned behaviour can help to promote real change and convert intentions into outcomes.

    Joanne Earl | 01-05-17 | 1.00 CE | More
  21. A client's life is a mix of stocks & bonds

    It is time to properly account for risk characteristics of client’s most valuable asset - their human capital. This isn’t easy to implement and places practitioners in a difficult situation...

    Moshe Milevsky, York University | 24-03-17 | 1.00 CE | More
  22. Behavioral biases & hierarchy of retirement needs

    Research suggests we mentally account for income and assets with an intrinsic hierarchy of priorities - a "hierarchy of retirement needs". So retirement income strategies should be reframed to answer three questions.

    Michael Kitces | 23-03-17 | More
  23. 2017 Finology Summit - Resources Kit

    Finology Summit 2017 featured a stellar lineup of finology experts offering their best high conviction idea/thesis on how the winds of change are impacting how investors think and behave with respect to money, and how we can better relate with them (and help others who must do so).

    01-03-17 | More
  24. Finology Summit 2017 - The winds of change - key takeouts

    Finology Summit 2017 focused on how "The winds of change" are affecting how investors think and behave with respect to money, and how we can better to relate with them. Here are our key takeouts.

    23-02-17 | More
  25. Mindset/Skillset/Toolset - the trifecta for success

    The key to influencing investors is to have the right mindset, build the right skillset and apply the right toolset.

    Troy Hendrickson, Duke CE | 15-02-17 | 0.50 CE | More
  26. Focus investors on goals with a retirement spending policy

    A formal, written spending policy can help investors focus on what's really important - will they meet their goals?

    Tim Farrelly | 15-02-17 | 0.25 CE | More
  27. An investment philosophy is critical

    This workshop will help you develop a clear, communicable, logical and understandable investment philosophy, deciding what's important and what's not.

    Graham Rich, PortfolioConstruction Forum and Tim Farrelly, farrelly's | 15-02-17 | 1.00 CE | More
  28. Buy Low, Sell High sounds simple but clients need a framework

    Clients benefit from understanding the investment journey. Having prepared responses to scenarios improves the chance of success.

    Douglas Isles | 15-02-17 | 0.25 CE | 2 comments | More
  29. The Advice Tipping Point is imminent - panel

    Our panel discusses the steady stream of disruption around the delivery of financial advice.

    Panel | 15-02-17 | 0.25 CE | More
  30. People know what to do to change their circumstances. They just need to do it!

    Can clients easily change their behaviour? The theory of planned behaviour can help to promote real change and convert intentions into outcomes.

    Joanne Earl | 15-02-17 | 1.00 CE | More
  31. Empathy is the essential skill to survive

    The key trait for relating to investors in the future will be the one skill that our brains are not programmed to receive from a computer - empathy.

    Michael Kitces | 15-02-17 | 0.50 CE | More
  32. The winds of change and the 4IR

    Strong winds of change are blowing - we appear to be entering a new age of populist and economic nationalism. What does it all mean for the outlook for the markets?

    Graham Rich, PortfolioConstruction Forum | 15-02-17 | 0.25 CE | More
  33. The Advice Tipping Point is imminent

    Regulatory tailwinds, fee pressure, unbridled experimentation around the delivery of advice - it's a steady stream of disruption. Ironically, technology is both our poison and antidote.

    Stig Nybo | 15-02-17 | 0.50 CE | More
  34. Backgrounder: 5 Megatrends driving portfolio construction

    In 2002, we embarked on a quest to identify the secular forces which would substantially influence markets over the coming decade. We proposed five megatrends - which still drive portfolio construction today.

    Will Jackson | 13-02-17 | More
  35. Empathy is the essential skill to survive the Robo threat

    With the onward marching of computing power, our transition from being "knowledge workers" to "relationship workers" may be here sooner than we realise.

    Michael Kitces | 10-02-17 | 2 comments | More
  36. The 4th industrial revolution

    We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In the end, it all comes down to people and values.

    Klaus Schwab, World Economic Forum | 10-02-17 | More
  37. Loss aversion, "FoMo", anxiety and mistiming

    Four common behavioural problems make the journey of investing particularly challenging for many investors. An understanding of each help investors stay the course and meet their goals.

    Douglas Isles | 10-02-17 | More