Investors should focus on asymmetric opportunities with a margin of safety and multiple ways of winning. Developed Asia and Europe offer these in abundance.

Like all presidents, Trump will be judged by how far he makes good on his pledges. It is important to distinguish between the real and the imaginary obstacles Trump faces.

Mid this year, ASIC concluded its enquiry into allegations of wrongdoing and criminal behaviour at IOOF, related mainly to the research team and its then head. The real "scandal" turned out to be about reckless and biased elements of the media (and politicians).

Following the victory of the Leave campaign in the UK Brexit referendum and of Donald Trump in the US election, focus has shifted to the upcoming referendum in Italy. There is a disquieting real-time poll of investor sentiment.

Active Share can be an effective way to evaluate the appropriateness of a fund manager's fee. Low Active Share funds should come with index-fund-like fees.

The lack of response at the zero bound of policy interest rates is hardly surprising. In fact, it is strikingly reminiscent of the so-called liquidity trap of the 1930s. What is particularly disconcerting is that central bankers remain largely in denial.

Australian banks face a number of headwinds - they are real, but could better be described as zephyrs. The market has overreacted. Buy the banks.

Rapid technological innovation, affordable communication, and demographic shifts are reshaping the world. The traditional country/regional approach to asset allocation is not optimal for capturing these new opportunities.

Data overfitting is a well known problem and one would expect clever statisticians and scientists not to succumb to its temptations. But "meta-overfitting" may be endemic in finance.

Tracking error constraints on active management focus on short-term outcomes and don't align with most investor goals, which are longer term. A low tracking error portfolio can often lead to an unfavourable outcome for end investors.

SMSF portfolios appear inefficient – creating an opportunity to either increase returns for the current level of risk or reduce risk for the existing return.

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 portfolios with international exposure, there are times when currency returns dominate overall performance. This paper analyses the currency hedge decision from the perspective of an Australian investor with international exposure.

The world of investing and business has seen a great deal of change in the past 30 years. Investors face a slew of psychological challenges. Here are the 10 attributes I believe to be the hallmark of a great investor.

Populism in developed countries is real, but there are meaningful differences between the UK and US stories that are important to keep in mind in the run-up to US Presidential election.

New research has found that teams of three portfolio managers deliver higher gains, adjusted for risk, than funds managed by a single individual or by teams of other sizes.

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!

This week's Fodder is a special feature focused on the presentation given by internationally renowned economic and financial historian, Professor Niall Ferguson, at our recent PortfolioConstruction Forum Symposium 2016 program.

This week's Fodder is a special feature focused on the presentation given by internationally renowned economic and financial historian, Professor Niall Ferguson, at our recent PortfolioConstruction Forum Symposium 2016 program.