Chess masters can play simultaneously against several players. The more time passes, the more US President Trump's international economic strategy looks like such a match. There are three games.

Two recent papers looking at hedge funds provide further evidence that the more proactive managers are the best performers.

Our regular Forum Fodder email alerts Members to what's new with our blended live and online continuing education, accreditation and certification programs.

The Bloomberg Money Market Benchmarks Update 2018 (08 Nov 2018) has been assessed and accredited by Portfolio Construction Forum for Continuing Education (CE/CPD) hours. Delegates must confirm their attendance in order to receive CE accreditation.

This week in Forum Fodder: Prof Anat Admati - Are financial crises inevitable?; Prof Martin Feldstein - Falling share prices and the US economy; Michael Kitces - When clients “need” more risk, adjust portfolios or goals?; Matt Williams & Emma Goodsell - Owner-managed co’s are the backbone of a good portfolio; Michael Morell - The world economy is facing a geopolitical inflection point.

The IMR Conference 2018 (20/21 September 2018) has been assessed and accredited by Portfolio Construction Forum for Forum CE hours. Delegates must confirm their attendance in order to receive CE acceditation.

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.

It wouldn't be surprising if the 10-year T-bill rises to 5% or more in the next few years, taking real yields back to over 2%, and causing the P/E ratio for US equities to return to its historical benchmark.

Ex-CIA Acting Director and economist, Morell worked with six US Presidents. He explains the current geopolitical inflection point that will affect the world economy for a very long time.

The CIMA Society Conference 2018 (30 October & 01 November 2018) has been assessed and accredited by Portfolio Construction Forum for Forum CE hours. Delegates must confirm their attendance in order to receive CE acceditation.

This week in Forum Fodder: Stephen Roach - America’s inflation risks; Woody Brock - Storm clouds for 2020; Tim Farrelly - Using Australian Asset Backed Loans in portfolios; Affirmative Investment Management - Impact investing is the way of the future for fixed income; Philipp Hofflin - Valuation mistakes will prove very costly in a post QE world.

We give a 20% chance to a US corporate debt bubble burst before end 2020. It is both incredible and unconscionable that massive leverage could once again bring down Main Street a mere decade after 2008.

It was inevitable. Another upturn in the US inflation cycle is at hand. The Fed is entirely correct to send the message that there is considerably more to come in its current tightening cycle.

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.

This week in Forum Fodder: Prof J Bradford DeLong - Self-fulfilling financial crises; Brett Gillespie - In this tug-of-war market, you need a bet each way; Annika Bradley - 5 essentials: managed account vs managed fund; Prof Ron Bird - Asset management, overconfidence and market discipline; Nikki Thomas - Capturing future earnings upgrades leads to outperformance.

Potential returns on traditional assets are falling and the search is on for different sources of attractive returns. The Australian Asset Backed Loans asset class deserves a place in many portfolios.

Two recent research papers on investment management look firstly at the implications of overconfident managers and, secondly, at career risk associated with poor investment performance.

There is no silver bullet to portfolio implementation. Both managed funds and managed accounts can provide a more streamlined and sophisticated portfolio implementation solution – and both have pros and cons.

This week in Forum Fodder: More top rated presentations from Strategies Conference 2018! Matt Williams & Emma Goodsell - Owner-managed companies are the backbone of a good portfolio; Nikki Thomas - Capturing earnings upgrades leads to outperformance; Philipp Hofflin - Valuation mistakes will prove very costly in a post QE world; Stephen Fitzgerald - Impact investing is the way of the future for fixed income; plus Susan David, David Sanger, Chris Berg and more...

The Lendlease Investor Masterclass (10 October 2018) has been assessed and accredited by Portfolio Construction Forum for Forum CE hours. Delegates must confirm their attendance in order to receive CE acceditation.