Culture is at the heart of competitive advantage today; this is particularly the case for investment firms where people and their judgments are the chief assets. A strong culture in investment management firms is a requirement for sustainable alpha-generation.

This week, we feature Dr Woody Brock, Nouriel Roubini issues Trump a mixed first six months report card, Michael Kitces reviews how to work out the "right" discount rate to use to compare investment strategies. Michael Furey explains the four stages of investment analysis, and Mugunthan Siva argues why active and passive investing can be friends.

This week, we feature Dr Woody Brock, Nouriel Roubini issues Trump a mixed first six months report card, Michael Kitces reviews how to work out the "right" discount rate to use to compare investment strategies. Michael Furey explains the four stages of investment analysis, and Mugunthan Siva argues why active and passive investing can be friends.

Using a Stage 4 investment analysis framework is a strong move towards a deeper understanding of portfolio risk drivers, and ensuring portfolios better reflect your investment philosophy.

Having grown strongly over the last 20 years, a new study shows infrastructure investment will continue over the next two decades. It is a secular trend with long-term opportunities.

The growing belief that the US has entered an era of permanently low economic growth, due in large measure to an alleged 50% reduction in productivity growth, is wrong. Both real growth and productivity growth have been strong, not weak.

When it comes to the active versus passive investment debate, many investors believe the answer is black or white. But the issue is deeper than that.

While the use of a discount rate to compare strategies or choices that are dispersed or occur over time is useful, the proper discount rate is the investor's expected rate of return, means that the "right" discount rate will vary from one person to the next.

The Conexus Best Practice Forum (08 Aug 2017) has been assessed and accredited by Portfolio Construction Forum for Forum CE hours. Delegates must attest their attendance in order to receive CE acceditation.

After six months, we can more confidently assess the prospects for the US economy under Trump's administration. Like his presidency, paradoxes abound.

This Due Diligence Forum Research Paper, presented at the 2011 PortfolioConstruction Forum Conference, proposes an asset allocation approach that makes more complete use of information available about the future, forcing consideration of different time frames, alternate outcomes, and tail risk...

In Fodder this week - Inflation, Roach on China's resilience, market anomalies & irrationality, Farrelly on ASIC on hybrids

In Fodder this week - Inflation, Roach on China's resilience, market anomalies & irrationality, Farrelly on ASIC on hybrids

Recently, Fed Chair Janet Yellen expressed dismay that inflation has remained persistently below the Fed's target of 2%. Will low inflation derail the Fed's exit strategy?

Forecasters find it difficult to resist superimposing the outcomes in major crisis-battered developed economies on China. It has been the wrong approach in the past; it is wrong again today.

The head of ASIC says that hybrids are a ridiculous investment for retail investors. Are they? Yes and no.

The Conexus Fixed Income, Cash & Currency Forum (25-26 Jul 2017) has been assessed and accredited by PortfolioConstruction Forum for Forum CE hours. Delegates must attest their attendance in order to receive CE acceditation.

Two new studies provide widespread evidence of mispricings/irrationalities across world equity markets. One in particular provides valuable insight into managing risk in equity investing.

In Fodder this week, a guide for creating an Investment Policy Framework that encapsulates your investment philosophy, Anatole Kaletsky argues we may be seeing a major structural shift in economic doctrine, Prof Moshe Milesvky top-rated lecture from Conference 2015 on integrating human capital into portfolio construction, Rob Mead on the biggest portfolio risk ahead, and a lecture from Berkeley Professor Shachar Kariv on observing how a client makes financial trade-offs as a more accurate measure of their risk preferences.

This Guide aims to assist practitioners develop their investment policy framework, by providing a checklist of issues to consider, and publicly available examples from institutions in Australia and globally.