121 results found

We may indeed be in for a shortish period of high inflation and low growth - but as to this leading to 1980s-style stagflation? It's nuts and you can clearly see it's nuts!

The arguments for and against active and passive management are much more nuanced than is often suggested by proponents on either side. In this Spotlight, we review the hard facts as represented by the S&P Index Versus Active (SPIVA) data, which farrelly’s views as the definitive database on active management.

Gold has fascinated investors and analysts for decades. But it is a poor hedge against inflation over meaningful time horizons, and it is close to its highest real price in 800 years.

Despite astonishingly good returns during their limited history, there are too many uncertainties around crypto-currencies to consider them an investable asset.

As inflation fears increase, we are seeing property and infrastructure fund managers saying their favourite asset class is a wonderful inflation hedge. There is more than a grain of truth here, but it is only half of the story.

farrelly's Investment Strategy provides subscription and consulting tools and services to enable a dynamic, forward-looking approach to asset allocation, a key driver of quality portfolio construction and quality results for investors...

The hottest investment topic of the day is inflation and its possible impact on investment markets. In farrelly's view, it is a storm in a teacup. This sanguine view is very much an outworking of our core philosophy that the long-term is much easier to forecast than the short-term.

The idea that duration is to be avoided at this stage of the cycle? It's bad economics, bad market timing, and bad risk management. It's nuts and you can clearly see it's nuts!

Australian cash rates will stay low for decades. Low interest rates mean high asset prices, which means much lower returns ahead. Our client communications must be in tune with this new environment.

Tim Farrelly | 0.25 CE

Japan is too different from the rest of the world to be used as a road map? Acutally, more often than not, the lessons we can learn from Japan's experience are completely valid in other, very different, economies.

A large and growing body of commentators is warning about the very real possibility - if not outright likelihood - of policymakers unwittingly letting the inflation genie out of the bottle.

In a low return environment, investors just have to accept more risk in order to meet their goals? On the face of it, this seems self evident and may even have a large element of truth. But, for many, it may be a very, very poor strategy.

This lecture instructs farrelly's subscribers on on the principles of managing currency in portfolios.

This lecture instructs farrelly's subscribers on the foundations of asset allocation in three parts - key principles of asset allocation, optimisation and how to define an asset class.

The fact is that we don't NEED growth. We need high after-tax returns. High growth at a reasonable price will always be attractive. But so too will no-growth at a high risk-adjusted yield.

This lecture instructs IMAC candidates on the foundations of asset allocation in three parts - key principles of asset allocation, optimisation and how to define an asset class.

In a world where interest rates are zero or negative, we need new ways of valuing assets. This is a very common refrain and it drives me nuts. It is almost all wrong - and on so many different levels!

The impact of Covid-19 and the resulting massive worldwide government fiscal response to the crisis has sparked new discussion about the risk of an upsurge in inflation - or deflation. This is not a trivial debate.

One of the touted benefits of hedge funds is that they provide returns that are largely uncorrelated with other risky assets. In practice, hedge funds returns are highly correlated to equity markets during downturns - when it matters.