It is only a matter of time before some shock triggers a new recession. Because policymakers will be pressured to do something, "crazy" policy responses will become a foregone conclusion.
Coming to a Portfolio Construction Forum program and looking for somewhere to stay? We don't organise accommodation for delegates, but we can point you in the right direction...
This lecture instructs IMAC candidates on the principles of equity securities and analysis including: fundamental investing and analysis; industry analysis; corporate analysis; quantitative investing; momentum investing; value/contrarian investing; and, technical analysis.
This lecture instructs IMAC candidates on the accurate and meaningful measurement and assessment of investment portfolio performance, specifically performance measurement and attribution.
This lecture instructs IMAC candidates on approaches to asset allocation (SAA, TAA, DAA), the role of strategic asset allocation and method for setting the SAA, optimisaton, pre-tax return estimates, estimating risk and correlation, and forecast estimation errors.
This lecture instructs IMAC candidates on how to make decisions about a portfolio's market and currency exposure, and to determine the impact of those decisions on portfolio performance. To various extents, these topics are considered in other IMAC lectures (currency management, asset allocation, performance measurement) and hence this lecture fills the gaps.
This lecture instructs IMAC candidates on properties of debt markets, the investment features and risks of bonds, the application of the time value of money to the valuation of bonds, and the concepts of duration and convexity and their application to bond portfolio management.
The quarterly Dynamic Asset Allocation is published electronically, and emailed to subscribers in early March, June, September, and December. It features farrelly's Editorial; long-term outlook for markets; Forecast in Focus; and three different approaches to Implementation...
The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...
Financial regulators have been reluctant to dish out jail terms. A new research paper finds that prison terms can be a cost-effective governance mechanism. A second paper gauges the impact of self-control on investment behaviour.
In the increasingly intense strategic and economic competition between Washington and Beijing, it's naive to think Australia can just sit on the sidelines.
Artificial Intelligence, Machine Learning (ML), and Deep Learning represent an important expansion of the quantitative investors' analytical toolkit, providing substantial new flexibility.
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?
Great eyesight depends on more than just clarity of vision - peripheral awareness, eye co-ordination, depth perception, focus and colour sensitivity all play a crucial role, without which our vision is impaired. Strategies Conference 2019 looks ahead at the issues that will dominate the 2020s and beyond to provide greater clarity in building quality portfolios.
A disciplined, scenarios-based approach to determining your views on the outlook for markets is vital for building 20/20 portfolios. Determining investment strategy by analysing issues from a number of viewpoints allows you to arrive at plausible scenarios for how the future may unfold.
As life expectancies improved, the "Financial Independence, Retire Early" movement was born. But a very long time in "retirement" requires more flexible spending rules.
Two recent research papers explore the impact of investors' increasing appetite for environmentally responsible investments.
While much of the discussion around climate change and transition risks is focused on negative impacts, these changes will offer significant opportunities for some businesses.
Research finds that SRI funds perform as well as conventional funds, ESG equity investing has outperformed in the US, and controversial stocks do best in crises.
The critics of QE are right to warn of unintended consequences. But shunning QE may also have unintended consequences. The critics should be careful what they wish for.
Retirement bucket strategies tie specific expenses to specific portfolios. But looking at categories of spending doesn't necessarily work. A better approach is to segment spending within each category.
The long boom in Australian residential property prices seems to have finally ended. Further falls to come will cause the Australian economy to slow but will not cause a recession.
Most of us use funds in clients' portfolios. Three new research papers look at what differentiates fund managers, highlighting factors we probably never considered important.
Two recent papers provide timely insights on the market impact of behaviour that is detrimental to corporate reputation, and the impact of ever-growing passive investing on behaviour within organisations.