While there is a grain of truth in many of the arguments supporting the claim that private credit is set to blow up, most are vastly overblown or, where correct, can easily be managed.

This lecture instructs IMAC candidates on the defining characteristics of an asset class.

This narrative has been doing the rounds for a while and - in terms of unlisted property at least - has been fairly close to the mark. However, going forward, it has become a really unhelpful idea.

Irrational markets are easy to beat? You would think so. But, to quote Yogi Berra, "In theory, theory and practice are the same. In practice, they're different."

Despite astonishingly good returns during their limited history, there are too many uncertainties around crypto-currencies to consider them an investable asset.

It seems plausible. A lack of research means inefficient pricing and lots of opportunities to find bargains, and inefficient markets are full of less skilled investors. Alpha is lying around just waiting to be collected.

While the majority underperform, there are still many, many managers that do outperform their relevant index over long periods. The rewards for good manager selection are real and worthwhile - if you have above average manager selection skills.

Many commentators have noticed the positive correlation between bonds and equities over the past few years and announced the end of bonds as a useful diversifier - often claiming "The 60/40 portfolio is dead, long live alternatives!".

By all means, discuss geopolitical events and the likely investment implications. But you should then completely ignore those discussions and consciously exclude geopolitics from your investment decision-making process.

Traditionally, these annual forecasts aim to predict near certainties. This year, the outlook seems a little clearer than it seemed in December 2002 – but not much.

Different ways of presenting an identical set of data lead to very different insights into a fund’s performance. Using an arithmetic graph is by far the easiest to understand - and it can also be the most deceptive.

Owning or not owning 4% of the global equity market is not going to make or break any portfolio. As for being too big to ignore? It's nuts and you can clearly see it's nuts.

For the first two decades of their life, hedged funds produced outstanding returns on average. For the past 20 years, it's not been so good. In this Spotlight, we review the reasons why, and whether there are any hedge funds worthy of inclusion in portfolios.

Gold has fascinated investors and analysts for decades. But it is a poor hedge against inflation over meaningful time horizons, and it is close to its highest real price in 800 years.

Industry funds don't use up to date valuations on their unlisted assets, and this is effectively cheating on their performance reporting? That's nuts and you can clearly see it's nuts.

farrelly's Investment Strategy provides subscription and consulting tools and services to enable a dynamic, forward-looking approach to asset allocation, a key driver of quality portfolio construction and quality results for investors...

Only buy High Yield Debt when it is super cheap? It's nuts and you can clearly see it's nuts.

A critical part of any retirement plan is a spending plan (which is not the same as a budget). Ultimately, a good spending plan helps keep clients' investments on track.

This Spotlight highlights that High Yield Debt can be a very useful addition to most investors' portfolios, producing returns that are close to those of Equities, but with lower risk. Read the abridged report.

This Spotlight finds that High Yield Debt can be a very useful addition to most investors' portfolios, producing returns that are close to those of Equities, but with lower risk. Read the full report.