Investing is supposed to be about the incremental replacement of human capital with financial capital over the long term. But today's environment and our behavioural biases conspire against such a pure case.

Managing the fundamental friction between short-term and long-term investing imperatives is a key challenge when building portfolios. This Backgrounder explores some of the key concepts and debates.

In Fodder NZ this week - Two faces of globalisation, great investors, and 400 years of investing.

In Fodder this week - Two faces of globalisation, great investors, and 400 years of investing.

In Fodder this week - Tim Farrelly, Michael Kitces, Nouriel Roubini, Bill O'Grady, and Invesco Perpetual.

In Fodder this week - Tim Farrelly, Michael Kitces, Nouriel Roubini, Bill O'Grady, and Invesco Perpetual.

In Fodder NZ this week - Globalisation and populism, Populism, Brexit and Trump, Trump and investment

How do we survive when liquid, safe asset classes don’t offer income to cover the cost of living? Do we speculate today? Or wait for it to normalise at an unknowable future date?

In Fodder this week - Globalisation and populism, Populism, Brexit and Trump, Trump and investment

It's 10 years since the Forum's publisher, Graham Rich, interviewed Hamish Douglass and Chris Mackay as the firm launched the now behemoth Magellan Global Fund.

In Fodder this week - A hard Brexit, more on withdrawal rates, and Magellan turns 10!

In Fodder NZ this week - A hard Brexit, more on withdrawal rates, and Magellan turns 10!

Alphabet soup, retirement income strategy, long-term returns. Fodder is back to being a mixed bag this week with Tim Farrelly, Woody Brock, Michael Kitces, and Bevan Graham.

Alphabet soup, retirement income strategy, long-term returns. Fodder NZ is back to being a mixed bag this week with Tim Farrelly, Woody Brock, Michael Kitces, and Bevan Graham.

In Fodder this week - Brexit (of course!) with articles from Oliver Hartiwch, Marko Papic, Niall Ferguson, and Christopher Granville. Plus registration is now open for Conference 2016.

In Fodder NZ this week - Brexit (of course!) with articles from Oliver Hartiwch, Marko Papic, Niall Ferguson, and Christopher Granville. Plus Joanne Earl's top rated presentation from Symposium 2016.

I previously worked with the London think tank closely linked to David Cameron and his Tory modernisers. It was fascinating for me to watch Brexit from afar. Here's my take on what we've just witnessed.

In Fodder this week - Portfolio rebalancing, bear markets, the X factor, Namibia & inflation with articles from Michael Kitces, Bob Veres, Charlie Lanchester, Joseph Stiglitz, and Christian Hawkesby.

In Fodder NZ this week - Portfolio rebalancing, bear markets, the X factor, Namibia & inflation with articles from Michael Kitces, Bob Veres, Charlie Lanchester, Joseph Stiglitz, and Christian Hawkesby.

This week's Fodder is a real mixed bag - portfolios, Africa, retirement spending, and risk profiling.