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.
Observing how a client makes financial trade-offs can provide a more accurate measure of their risk preferences than if we ask questions about what they think they would do.
The IMCA Au Seminar 5 (11/12 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.
In addition to publishing content created by the PortfolioConstruction Forum team, the Forum welcomes submissions of high quality, content from third parties that meet the following guidelines.
This week in Fodder, Dr Bob Gay on why, as the Fed weans itself from past discretionary actions and shifts back towards its usual rules-based framework for decision-making, they are no longer relevant. Prof Dani Rodrik explains why this G20 meeting will be the most interesting for years. Michael Edesess analyses whether it's true that studies of "investor return" vs "investment return" prove the conventional wisdom that individuals underperform the investments they invest in. And finally, we feature two video presentations from recent Forum programs.
This week in Fodder, Dr Bob Gay on why, as the Fed weans itself from past discretionary actions and shifts back towards its usual rules-based framework for decision-making, they are no longer relevant. Prof Dani Rodrik explains why this G20 meeting will be the most interesting for years. Michael Edesess analyses whether it's true that studies of "investor return" vs "investment return" prove the conventional wisdom that individuals underperform the investments they invest in. And finally, we feature two video presentations from recent Forum programs.
In a low growth, low inflation, low interest rate and low yield environment, a cyclical economic upturn presents opportunities in asset classes such as equities and real estate
Discretion in setting monetary policy has had a checkered history. Ironically, the debate on rules vs discretion is heating up just as the FOMC sets a course for unwinding its extraordinary policy measures.
Fodder starts with two very different perspectives on interest rates. First, Tim Farrelly arguing Central Banks should be applauded. Then, Yale's Stephen Roach argues that today's central banks are even more impotent than they were in the 1930s. Michael Kitces highlights a new research study that debunks the belief that holding cash is something to avoid. Rob Arnott et al debunk the myth that there is a correlation between stock returns and the political party in power. And, finally we feature the top-10 rated presentation by Colonial First State Global Asset Management's Stephen Halmarick at Markets Summit 2017 on Trump the game changer.
Fodder starts with two very different perspectives on interest rates. First, Tim Farrelly arguing Central Banks should be applauded. Then, Yale's Stephen Roach argues that today's central banks are even more impotent than they were in the 1930s. Michael Kitces highlights a new research study that debunks the belief that holding cash is something to avoid. Rob Arnott et al debunk the myth that there is a correlation between stock returns and the political party in power. And, finally we feature the top-10 rated presentation by Colonial First State Global Asset Management's Stephen Halmarick at Markets Summit 2017 on Trump the game changer.
The classic view of cash when investing is that it's something to minimise. But a recent study found that we're just not content without a healthy allocation to cash. In fact, pushing investors to put all their cash to work increases their financial stress.
Yes, rates are unusually low. But to describe that as unnatural shows a lack of understanding about how the world works and a refusal to accept that maybe the world has changed.
The IMCA Australia Seminar 4 2017 "Appointing Investment Managers (Operational Due Diligence)" has been assessed and accredited by PortfolioConstruction Forum for Forum CE hours. These can be used to help meet the CE/CPD requirements of 15 regulators, associations, institutes and designations – including ASIC RG104/105/146 requirements and CIMA certificants’ CE commitment. Delegates must attest their attendance in order to receive CE acceditation.
Masterclass NZ is a post-graduate extension program focused on contemporary issues that are fundamental to building better quality portfolios. The one-day program is comprised of five research-based, active learning sessions:
Fodder starts with Nouriel Roubini arguing that Trump's policies are a key risk to the nascent global pick up in economic activity. Dr Bob Gay explains why Fed officials believe they can engineer a graceful exit from their experiment with asset purchases. Invesco's Stephen Anness and Andy Hall have written a terrific paper on the art of contrarian thinking of all types. Prof Ron Bird reviews two new papers on factor investing And finally, we feature the top-10 rated presentation by PIMCO's Joachim Fels at Markets Summit 2017.
Fodder starts with Nouriel Roubini arguing that Trump's policies are a key risk to the nascent global pick up in economic activity. Dr Bob Gay explains why Fed officials believe they can engineer a graceful exit from their experiment with asset purchases. Invesco's Stephen Anness and Andy Hall have written a terrific paper on the art of contrarian thinking of all types. Prof Ron Bird reviews two new papers on factor investing And finally, we feature the top-10 rated presentation by PIMCO's Joachim Fels at Markets Summit 2017.
Literature from a variety of disciplines help highlight the qualities behind truly creative, contrarian thinking - qualities which can be applied to modern portfolio management.
Unlike other commonly used factors, very little research has been undertaken on the quality factor - which makes a newly released paper very interesting. Another new paper extends the usual momentum factor into "returns signal momentum".
