1. Are markets efficient?

    This view has dominated finance theory for the last 50 years or so. But prices change because people trade, and those trades leave behind a trace of all the behavioural biases people bring.

    Jean-Philippe Bouchaud | 10-12-18 | 1.00 CE | More
  2. Ideal money

    Buffett called Bitcoin rat poison squared, Schiller called it a financial bubble. We disagree. Bitcoin is perhaps the most important financial innovation ever. And it is one step closer to "ideal money".

    Payden & Rygel | 09-11-18 | More
  3. When clients need more risk - adjust portfolios or goals?

    Where portfolios are invested to achieve goals, the first step in the process should be to align the investor's goals - not the portfolio - to their risk tolerance. Implementation is then straightforward.

    Michael Kitces | 01-11-18 | 1 comment | More
  4. Are financial crises unpreventable?

    Banking and finance are an extreme case of governance and policy failures, where the abuse of power and lack of trust in institutions undermine capitalism and democracy.

    Anat Admati | 29-10-18 | 1 comment | More
  5. Impact investing is the way of the future for fixed income

    It is a common misconception that profit and impact are mutually exclusive. In fact, managing for mainstream risk-adjusted returns and creating a positive impact can be achieved in parallel.

    Affirmative Investment Management | 23-10-18 | More
  6. Self-fulfilling financial crises

    Since the global financial crisis, people have searched in vain for a more productive integration of finance, behavioral economics, and macroeconomics. The publication of a new book gives hope yet.

    J. Bradford DeLong | 18-10-18 | More
  7. The Forum releases its submission to the FASEA CPD proposal

    Portfolio Construction Forum's 23-page submission to FASEA in response to its proposed guidance on future CPD explains why the proposal is fundamentally flawed, and falls well short of any reasonable community expectation of FASEA and what drove its formation.

    Graham Rich | 12-09-18 | 1 comment | More
  8. Data analytics offers little insight on complex problems

    Machine learning algorithms are no match for the human brain when it comes to deciding how investment portfolios should be constructed.

    Peter Bossaerts | 24-08-18 | 0.25 CE | More
  9. The tech revolution will radically change how the economy works

    The Australian (and global economy) is facing decades of significant technological change that will reshape how we work, where we work, and how we relate to each other economically and politically.

    Chris Berg | 24-08-18 | 0.25 CE | More
  10. Foreign currency should be treated as a complex asset class

    Investors should treat foreign currency as an asset class in its own right, considering both short- and long-term currency risks, as well as where the best return opportunities lie.

    Olivia Engel | 24-08-18 | 0.50 CE | More
  11. FASEA proposals fail to address the P and D of CPD

    FASEA's proposed CPD standards will fail to lift the educational standards required of an emerging profession, as they only address the 'Continuing' aspect of CPD, and ignore the crucial 'Professional' and 'Development' elements.

    Graham Rich | 23-08-18 | More
  12. Impact investing is the way of the future for fixed income

    The impact investment market is growing. There is growing evidence that investing for return while generating a positive impact is a holistic way to create portfolios that are fit for the future.

    Stephen Fitzgerald | 23-08-18 | 0.50 CE | More
  13. Investment risk has nothing to do with benchmarks

    To future proof portfolios, investors looking to maximise returns should regard risk simply as the risk of losing money and in turn, best manage this risk by taking a long-term time horizon.

    David Gait | 23-08-18 | 0.50 CE | More
  14. Future-proof portfolios? Key takeouts

    Investment portfolio construction is, by definition, an exercise in long-term thinking. Given the uncertainties and competing priorities, are future-proof portfolios achievable? Practitioners share their views.

    Panel | 22-08-18 | More
  15. A future proof portfolio should guard against pessimism

    There will always be movements in markets that we need to be attentive to, and you should construct a portfolio that takes advantage of fear. But don't let that fear drive the dominating principles in your portfolio construction.

    Tony Crescenzi | 22-08-18 | More
  16. Integrate ESG considerations to help future proof portfolios

    It is vital to think about both the risk and opportunities that sustainable investing provides and define a framework that matches your investment beliefs.

    Jane Wadia | 22-08-18 | 0.50 CE | More
  17. Future-proof portfolios are entirely achievable

    Future-proofing isn’t about guaranteeing an outcome. No strategy can do that. It's about implementing strategies today that increase the likelihood that multiple objectives, often with different time horizons, can be all achieved.

    Rudi Minbatiwala | 14-08-18 | More
  18. 5 essential investment committee tools

    An Investment Committee is key to a well-constructed portfolio. Your IC's toolbox must contain the appropriate tools, making governance a key pillar of your portfolio construction process.

    Annika Bradley | 17-07-18 | More
  19. Masterclass NZ 2018 - resources

    Masterclass NZ is a post-graduate extension program focused on contemporary issues that are fundamental to building better quality portfolios. Each year, the one-day program features five research-based, active learning sessions.

    25-05-18 | More
  20. The place of bonds in a low yield world

    Investors are increasingly questioning the continued relevance of bonds in their portfolios. But bonds offer enhanced diversification qualities during times of low growth, low inflation and market uncertainty.

    Dean Stewart | 03-05-18 | 0.75 CE | More
  21. Risk mismatch the biggest mistake

    Only by understanding two factors can practitioners mitigate the risk of permanent loss of capital in emerging market companies.

    Alex Duffy | 24-04-18 | More
  22. Diversification - what it is and is not

    The concept of diversification may seem to be second nature. However, some of its fundamentals are often misused and sometimes misrepresented.

    Michael Furey | 15-03-18 | 3 comments | More
  23. The next 30 years

    There are themes and stocks that last for decades. Whether the investment horizon is three to five years, 10 years or even 30 years, it is likely investors will benefit from thinking about the universe of themes and stocks for generations to come.

    Bo Knudsen | 08-02-18 | More
  24. Sustainability is crucial to infrastructure returns

    Infrastructure assets have large environmental footprints. Incorporating ESG factors into the infrastructure investment process can improve risk-adjusted returns.

    Rebecca Sherlock | 08-02-18 | More