Established in 2009, Markets Summit is THE investment markets scene setter of the year, focusing on the key drivers and outlook for the markets. As usual, 2023 Faculty were each challenged to offer their best high conviction proposition in the context of the program theme - this year, "Every VUCA cloud has a silver lining!" Their high-conviction faculty propositions can be distilled into three key discussion threads, supporting the case that, for portfolios, every VUCA cloud has a silver lining! Watch the highlights video, read the key takeouts - and then delve into the high conviction presentations that most interest you.
As the clouds of Volatility, Uncertainty, Complexity and Ambiguity continue to swirl, the silver lining is that we are on the road back to normal monetary policy settings, from abnormal, and a return to more rational asset prices. But we must be patient.
Those constructing portfolios must understand the nuances of bond risk/return drivers and how bond market performance can be impacted by different macro scenarios. Opportunities abound.
Inclusion of private equity as an alternative asset in portfolios is an out-of-date approach that does not consider secular trends in companies staying private and the unfolding democratisation of PE.
As economies continue to recover from the catastrophe of Covid-19 lockdowns, we must re-embrace the pursuit of progress, an idea that is central to science, freedom, and a thriving society.
After a chaotic period, across most asset classes, silver linings are emerging. Global equity investors can capture these by identifying companies best placed to benefit from shifts in energy and technology.
Once the decision has been made to invest in global small caps, fundamentals return to the fore. Limited research coverage and inefficiencies in the market are the opportunity.
Investors will have to work harder to make money than just owning US beta. The silver lining is that there are large equity markets and sectors that are cheap with significant growth drivers.
After a lost decade, cyclical and structural headwinds are abating for emerging market equities, while profound secular changes are becoming tailwinds. But the path ahead will look very different to the past.
ESG analysis advances and drives sustainable investing by helping investment practitioners develop a clearer view of a company's true market value, consistent with their fiduciary duty.
Our diverse panel of experts debated which of the high conviction propositions they heard during Markets Summit 2023 they most strongly agreed with and why, including identifying "silver linings" (investment opportunities not yet fully priced into the market) and which they disagreed with most and why - and the portfolio construction implications of both.
Established in 2009, Markets Summit is THE investment markets scene setter of the year. For the first time in decades, an inflationary gale is rattling financial markets. Many post-GFC tailwinds have gone into reverse, as we experience a regime shift from an era of globalisation, “rules-based” geopolitics, fiscal discipline, benign inflation, steady economic growth and ultra-loose monetary policy to one of localism, nationalism and war, fiscal largesse, soaring inflation, elevated recession risk and higher interest rates. This once-in-a-career regime shift poses many challenges for portfolio construction practitioners. The high VUCA (volatility, uncertainty, complexity, ambiguity) market environment continues! Yet, opportunities abound for those able to identify the powerful forces reshaping the outlook for markets, and to reorientate their portfolios accordingly. Every VUCA cloud has a silver lining!
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Established in 2009, Markets Summit is THE investment markets scene setter of the year. For the first time in decades, an inflationary gale is rattling financial markets. Many post-GFC tailwinds have gone into reverse. This once-in-a-career regime shift poses many challenges for portfolio construction practitioners. The high VUCA (Volatility, Uncertainty, Complexity, Ambiguity) market environment continues! Yet, opportunities abound for who reorientate portfolios accordingly. Every VUCA cloud has a silver lining! Markets Summit 2023 will help you better understand the key drivers of and outlook for the markets, and the opportunities and risks ahead on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.
Uncertainty and change are unavoidable realities of life. In the spirit of thinking differently and embracing uncertainty, I offer you this year's global developments to watch over the next five years.
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.