552 results found

The collapse in oil prices in the second half of 2014 is very large in a historical context. This paper explores the implications for portfolios.

Investment managers have a better chance of adding alpha if they have a clear philosophy of how they generate it, according to research on the importance of a robust investment philosophy.

In recent years, academics have been at war over whether the small cap premium exists. This recent paper finds it does - if you control for quality - and that it is significant, and not time or market specific.

We are reminded daily that the US stock market has achieved record highs between 2009 and today. But the true bull market covers 35 years. What does an understanding it tell us about the future? The answer is: a lot.

Woody Brock | 1.00 CE

Fund research is something of a dark art - there is little quality information available on how to go about it. But here are two great papers covering qual and quant analysis of funds and managers.

Even the most skillful active managers will sometimes underperform. And, in some market environments, most active managers can be expected to underperform.

Now the Fed has opened the door to normalising interest, what constitutes "normal"? Take care in stretching for yield now the Fed is no longer making promises.

This paper by Rob Arnott and Denis Chaves looks the effects of different age cohorts on GDP and asset class returns.

Vimal Gor | 1.75 CE

This paper offers a surprising amount of info and interesting ways of framing investment issues in retirement, and some good analysis of longevity risk.

Currency risk is a significant issue for Australian investors. This paper summarises the research on optimal hedge ratios for international equities exposures.

In this seminal paper, Ibbotson confirms that after the decision to actually invest is made, asset allocation and manager selection are equally important.

Pippa picked up where she left off in her opening keynote, tying the Markets Summit 2015 proceedings together, summarising her key takeouts, and their implications for portfolios.

In this simulated investment board meeting, our day's 17 international and local Faculty members debated and voted on whether to overweight international equities and underweight Australian equities in portfolios on a two- to three-year view.

In 2014, we witnessed the return of market volatility. With potentially significant market return and volatility, investors should consider portfolio positioning before the fact.

The fourth D confronting investors - the disruptions wrought by technological change. Cash cows, thoroughbred stocks and roll-ups are best placed in a world challenged by the four Ds.

Kate Howitt | 0.50 CE

While demographics will still dominate into the future, energy and automation are quickly rising to be just as important with significant implications for portfolios.

Vimal Gor | 0.50 CE

A currency union absent of full political union is inherently unstable. After the first country exits the eurozone, markets will attack the next most vulnerable. The dominos will fall.

Few opportunities are available today where discounts to intrinsic value outweigh downside risks. Japanese corporations are increasingly embracing ROE and shareholder value.

Since Q4 2014, oil prices have plunged, currency markets are at war and intraday volatility of stock indices is disturbing. A crisis mode has started. Asset allocators must mitigate risks before this next crisis inevitably hits.

Thomas Poullaouec | 0.50 CE

One of the most important events of 2014 for investors was the dramatic collapse in the oil price. Overall, investment portfolios must be repositioned for increased volatility.

Nick Langley | 0.50 CE