823 results found

When evaluating investment performance, we generally acknowledge a fundamental distinction between skill and luck. This research paper looks at the concept of “moral luck” and finds that the outcome of an investment recommendation may shape others’ evaluations of both the skill and the morality of the investment adviser.

Rob Hamshar | 1.50 CE

The idea that individuals are more sensitive to losses than to equivalent gains is critical in investment decision-making. Two recent papers highlight that loss aversion/tolerance is a more nuanced phenomenon than is commonly recognised.

Rob Hamshar | 1.50 CE

Three articles provide us with insights into the impact that the growth in passive management has had on the performance of active managers; the risks taken by active managers and the general efficiency of markets; and, the behaviour of markets.

Ron Bird | 1 comment | 2.00 CE

The future state of the economy and markets depends, in part, on what people expect it will be. Understanding people's expectations, and how and why they form and revise them, has important implications for portfolio construction practice.

Rob Hamshar | 1.50 CE

There's much to learn from history, but every time is different when it comes to markets. The backdrop for investing will require investors to identify how the outlook today intersects with our experiences of the past and where it differs.

Ronald Temple | 0.50 CE

This economic cycle will mean revert to a traditional business cycle - a cycle that may not exactly repeat but will rhyme with prior inflation cycles. Opportunities exist in global bonds in 2024 and 2025 no matter hard or soft landing outcomes.

Jack McIntyre | 0.50 CE

Second term presidents tend to be more ideologically aggressive, since they are freed from the need to face voters again. Investors globally need to think through the implications of a second term for either candidate.

Libby Cantrill | 0.50 CE

While investors need to be mindful of the potential risks posed by different stress events, they should largely ignore macro and geopolitical predictions when it comes to selecting companies to invest in. The discussion covered a range of investment topics, from inflation predictions to niche equity opportunities in mid-cap and emerging markets

David Allen | 0.50 CE

Equity valuations are at attractive levels for most emerging markets but the lack of interest in emerging markets in general has led to extraordinarily attractive valuations.

Joseph Lai | 0.50 CE

Investors should explore opportunities beyond the ASX20, focusing instead on the Ex-20 index which provides exposure to Australia's future rather than its past.

Dion Hershan | 0.50 CE

Three investment experts offer and debate their high conviction thesis on a long-term, deep rooted structural change impacting markets over a decade or more.

There's no such thing as "normal" for supply chains. The challenges for 2024 and 2025 that echo the past include logistics network disruptions, geopolitical risks and the cash costs of environmental policies - which make investing in supply chain security more important than ever.

Chris Rogers | 0.25 CE

Global REITs have been overwhelmed by the rapid rise in interest rates, headlines about the demise of the office, and concerns over bank lending to commercial real estate. However, history is not repeating. The industry is in strong shape.

Andrew Parsons | 0.50 CE

Market cycles show there is a clear anomaly in the Senior Secured Loans space with record setting yields and compelling risk-adjusted returns.

Gerard Fogarty | 0.50 CE

For the last two decades, private equity has consistently outperformed the public market, through market cycles and with less volatility. In 2023, private equity continued to show superior returns in the mid-market. Looking forward, the outlook for is stronger.

Justin England | 0.50 CE

Australia's residential vacancy rate is at a record low and net overseas migration at a record high. But, the banks can no longer participate in the market like they used to, providing greater opportunity for real estate private credit.

Mark Power | 0.50 CE

Higher than desired inflation is now structurally embedded in the global economy. The boom-bust inflation cycle of the 1970s gives a useful historical parallel, providing investors insight into the coming decade.

William Curtayne | 0.50 CE

The technology sector has now eclipsed its all-time high relative to the S&P 500, exceeding its dot.com bubble highs. So this begs the question – is this a bubble and what is the risk of another tech wreck?

Alan Pullen | 0.50 CE

With heightened global geopolitical risks, reduced fiscal support from governments, a deflating Chinese property bubble, and an ongoing US commercial real estate crisis, 2024 is a year for investors to be nimble and tactical.

Jonathan Pain | 0.50 CE

Our diverse panel of experts debated the high conviction propositions they heard during Markets Summit 2024 and the portfolio construction implications.