133 results found

"Forward PEs look attractive" is often offered as an astute observation. It's almost a truism. But does using forward PEs to assess market valuations work?

Under the lifecycle investing approach, real return outcomes are the most crucial measure of investment outcomes. But managing real return risk involves thinking differently about what risk really means in portfolios.

At a practical level, how can we manage the risk of a client not maintaining their desired standard of living in retirement because they have lived longer than expected?

When all the risks are plain to see, investors understandably become cautious. But often, the very best time to buy is when the risks are well and truly known.

This presentation was preparation for the interactive workshop later in the program, looking at the fundamental principles behind diversification, the critical role of correlation in getting diversification benefits, and how practically to consider the benefits of diversification when designing portfolios.

The Australian economy is affected only tangentially by fiscal problems elsewhere, but there are strong effects on markets. Currency is the lynchpin.

Bonds are negatively correlated to equities – so they make a great portfolio diversifier despite their low yields, right?. Wrong.

"The Hedge Fund Mirage" shows investors would've been much better off in US T-Bills over the past decade. We look at hedge fund association AIMA's "comprehensive rebuttal".

Obama is back in, attention has turned to the fiscal cliff. Can we just ignore the economy and get on with investing?

How governments will reduce debt is the subject of considerable debate. One option seems most likely.

Is gold the ultimate currency? How do we feel about a currency that lost 79% purchasing power from 1980 to 2000?

A growing chorus of (largely offshore) commentators has Australia falling into a pronounced slump. Are we on the edge of a precipice? No.

Seven areas where thinking outside the box may lead to different portfolio construction decisions.

Many practitioners want to manage their clients’ asset allocation more proactively (not tactically!) but find the implementation issues confusing...

This one just won't go away. Central to this is the idea that the limiting factor behind bank lending is enough cash to lend out. It is just wrong...

Building debt portfolios used to be easy. But it’s much harder now. These days, the debt side of portfolios must be absolutely secure and should designed as three buckets...

Mssrs Henry, Murray and Tanner are successful in their fields. But none has a background in financial planning or investment management. It shows.

The debt side of portfolios used to be the easy part of portfolio construction, but not these days. In this Critical Issues Forum session at the 2011 PortfolioConstruction Forum Conference, Tim Farrelly outlines a systematic and practical process for constructing the debt side of portfolios and shows how considerable value can be added and demonstrated clearly to investors...

Australian residential property does not behave like other investment classes. Why? And what does that mean for forecasting returns?

Is this the time to be buying or selling international equities?