A carbon tax - while immensely popular among economists - imposes the same cost on the rich and poor. A carbon dividend would be a smart step that wouldn’t invite a yellow vest reaction.

Five misplaced concerns about the future of the dollar make forecasts of a long-run collapse in the dollar problematic.

Climate change has moved faster than most thought possible. There will be exciting investment opportunities in companies focused on climate change mitigation and adaptation.

If a final US-China trade deal prevents China from gaining greater monetary-policy autonomy, it could create major problems when the next big Asian recession hits.

China is frequently presented as a source of crisis or instability for the global economy. However, the picture is one of imperfection, not peril.

Yes, the days of 10% Chinese growth are over. That was inevitable. But there are five key reasons to dismiss the now-widespread diagnosis that China is ensnared in the middle-income trap.

The US Federal Reserve surprised markets recently with a large and unexpected policy change. The new normal will be a US policy rate close to or just below 3%.

My key takeout was that perhaps markets entered an inflection point through 2018 and, accordingly (if they haven't already), investors need to think about how they position portfolios.

Australian investors have a different perspective on foreign currency to investors elsewhere in the world, and this should be reflected in how local portfolios are built.

Over the course of this year and next, the biggest economic risks will emerge in those areas where investors think recent patterns are unlikely to change.

This paper studies the long-term returns of US equities to determine whether earnings yield is a reasonably reliable estimate of forward real returns. Understanding the interplay of growth, value and yield provides a framework for assessing investments.

When China finally has its inevitable growth recession, the world is likely to discover that China's economy matters even more than most people thought.

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.

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.

As we mark the decennial of the collapse of Lehman Brothers, there are still ongoing debates about the causes and consequences of the GFC. By 2020, conditions will be ripe for a new financial crisis.

The fallacy that an inverted yield curve "predicts" the onset of recessions is alive and well. Many investors believe the curve will invert in 2019, precipitating a recession. But a flattening of the yield curve need not imply a recession.

The future is, by definition, uncertain, as are financial markets. To prosper in such an environment, we need to be emotionally agile in order to align our values and actions and, in turn, help investors achieve their financial goals.

A disciplined, scenarios-based approach to determining your views on the outlook for markets and then the asset allocation implications can help future-proof portfolios.