To maintain "no taxation, no representation" deal with its people, China's leadership seems to be going down a path that'd see index funds as forced buyers of Chinese equities.

A surprise rate cut in November 2014 and investor expectations of further easing measures have triggered a strong rally in China equities - both A shares, and in the last three weeks, H shares. Can it last?

Is it time to start thinking more about E/P ratios than P/E ratios? After all, predicting that returns may be higher or lower with a low (or high) earnings yield (and a corresponding P/E ratio) really isn't so controversial.

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder NZ this week - Jack Gray on unknown unknowns plus low interest rates with Tim Farrelly, Bob Gay & Rob Mead

We are reminded daily that the US stock market has achieved record highs between 2009 and today. But the true bull market covers 35 years. What does an understanding it tell us about the future? The answer is: a lot.

In Fodder this week - Jack Gray on unknown unknowns plus low interest rates with Tim Farrelly, Bob Gay and Rob Mead

Fixed income markets seem to have gotten the correct message, albeit perhaps for the wrong reasons – short-term interest rates will stay low for a long time.

These are words that I utter with the utmost caution - this time, it really is different. For something genuinely new to the modern experience, consider the curious case of collapsing equity volatility.

Investors often face unknown and even unknowable states of the world. How should we make investment decisions under ignorance?

Low GDP growth, very low real rates, higher PEs and valuation multiples - it's a new world. We all need to get used to it. In particular, we should review client spending plans.

Fodder is back this week with Dom McCormick and Oliver Hartwich, plus 3 pieces on active management

Fodder is back this week with Dom McCormick and Oliver Hartwich, plus 3 pieces on active management

Fund research is something of a dark art - there is little quality information available on how to go about it. But here are two great papers covering qual and quant analysis of funds and managers.

Even the most skillful active managers will sometimes underperform. And, in some market environments, most active managers can be expected to underperform.

I had been going to write something about housing this morning, but got distracted in the WEO database. House prices, especially in Auckland, are a political and social scandal.

What does dollar parity say about New Zealand and Australia? It is a tale of two different countries. And, it is a tale of a major role reversal.

A German exit from the eurozone would give Germany the currency it deserves and leave the rest of the eurozone with the carcass of a currency well suited for its needs.

New in Fodder this week - Oliver Hartwich & Charles Dallara on Greece, plus GaveKal, Bob Gay & JP Morgan

New in Fodder this week - Oliver Hartwich & Charles Dallara on Greece, plus GaveKal, Bob Gay & JP Morgan

Even if it's not your intention to recommend stocks, understanding financial analysis in general and ratios in particular, can enhance your ability to analyse equity funds.