Recently, I attended the Eureka Report Around the World of Investing Forum. The overwhelming impression was that global investing is very new to many Australians.

Dominic McCormick | 1 comment

Only the most die-hard peak-oil proponents, or other gold-bugs, will fail to acknowledge that the commodity bubble has burst. Is it a positive, or negative, for financial markets?

Louis-Vincent Gave, GaveKal

Looking back over the last 40 years, it is clear that, in the next 20 years, successful asset owners and managers are going to listen to Einstein and stop making things too simple.

Alan Brown

It is not beyond the realms of possibility that the "prudent person" approach to playing it as safe as possible in portfolio construction might undergo a significant shift.

Tony Vidler, Strictly Business

This white paper serves up a retirement income planning "buffet" - reviewing the two main opposing philosophies and the range of strategies that span the divide.

Angela Ashton, PortfolioConstruction Forum | 2 comments

Ten years ago, hardly anyone talked about low-volatility investing. Now there's growing concern it is becoming an overcrowded trade. There are four arguments against this.

David Blitz & Pim van Vliet, Robeco

PortfolioConstruction Forum Academy Spring Seminar 2014 features three sessions. This Resources Kit contains the materials for preparing for the Seminar. After the Seminar, it will also contain the presentations for each session.

Despite strong returns, it's still hard for investors to think positively about China A shares as an investment. The key is to envisage what the world will look like in 10 to 15 years.

Dominic McCormick | 3 comments

In managing sequence of returns risk, we may not be giving simple rebalancing nearly the credit it deserves to accomplish similar or better than more complex approaches.

Michael Kitces | 1 comment | 0.75 CE

Gridlock may be perfectly acceptable in Washington these days - but Europe, like Japan, now badly needs strong political leadership.

Anatole Kaletsky

The answer seems obvious. But more complicated forces are at work that have reduced real interest rates far below historic norms and may keep them very low for many years.

Robert Gay

The media continues to obsess about IS - but the far more investment-relevant development in the Middle East is the sudden return of Libyan crude to the market.

Marko Papic, BCA Research

I don't dispute low vol stocks outperform highly vol stocks. But volatility does not explain all of an asset's risk.

Michael Furey | 1 comment

The taboo that savers have to be compensated for handing money to a financial institution has been broken, with the ECB's negative rates finally being passed on to retail clients.

Oliver Hartwich, The New Zealand Initiative

It has been my contention for a while that capitalism is returning to its 19th century deflationary roots. Indeed, the evidence has become overwhelming.

Charles Gave, GaveKal

Last week's volatility surprised many. How should portfolios be positioned? And what does this recent bout of volatility tell us about the economy and financial markets?

Russ Koesterich, BlackRock

One of the originators of CAPM, Sharpe was awarded the Nobel Prize in economics. I sat down with him to discuss retirement income planning.

Robert Huebscher, Advisor Perspectives

Perhaps the most crucial change in our retirement planning language is simply to rename "retirement".

Michael Kitces

Thomas Piketty's "Capital in the Twenty‐First Century" is certainly the economics book of the year. We have been asked numerous times to appraise his ideas.

Woody Brock

This particularly relevant review of literature on sequencing risk considers the impact of Australia's age pension on retirement spending strategies.

Angela Ashton, PortfolioConstruction Forum

Relying on Fed tightening to predict the next serious sharemarket weakness may be very dangerous. Perhaps this time really IS different.

Dominic McCormick

The dynamic duo (Kitces and Pfau) are back in their search for the ultimate truth about retirement income planning and how to structure portfolios to minimise drawdowns.

Angela Ashton, PortfolioConstruction Forum

Today is much less reminiscent of 2007, when global equity prices were at similar levels to today, than of 1987. But it seems too early for investors to panic, or even reduce risk.

Anatole Kaletsky | 1 comment

This Resources Kit is a deluge of videos, podcasts, and papers for all sessions of the jam-packed Conference 2014 program so you can "attend" even if you weren't part of the 600 plus audience.

This paper argues that to make choices regarding smart betas we must first assess whether they're robust. Luckily, it concludes, most so-called factors can be ignored.

Angela Ashton, PortfolioConstruction Forum

If Scotland does vote for independence, it's hard to come up with a positive scenario for British assets.

Anatole Kaletsky

Robert Merton, 1997 Nobel Prize winner, has recently penned an article about his views on retirement planning. There are some interesting take aways for Australian practitioners.

Angela Ashton, PortfolioConstruction Forum | 1 comment

Unconstrained debt strategies are flavour of the month, and likely to be very popular amongst investors for several reasons. But where do such funds fit in a portfolio?

Michael Furey

What do Richard Nixon, novel "Zen and the Art of Motorcycle Maintenance", and Bridgewater Associates have to do with risk parity investing and Conference 2014?

Greg Bright, Investor Strategy News

Are Term Deposits the most boring subject in finance? Actually, they're anything but. The Australian TD market is an area where it is easy to add demonstrable value for clients.

Tim Farrelly

As the first day of our annual Conference program, we hosted the Finology Forum. Our particular focus of finology was as it applies to the giving of investment advice.

Angela Ashton, PortfolioConstruction Forum

The one-day Conference Finology Forum 2014 program (within the overall three-day Conference program) featured leading investment thinkers from around the world presenting on how to more effectively help investors manage their expectations and investment portfolios. This CPD Quiz is for delegates to complete, to receive CPD accreditation.

It is given that we all are wired to act foolishly sometimes, so how can we be better "choice architects" and "decision reassurers" for ourselves and our clients?

Dr David Lazenby, ScenarioNow Inc

This presentation addresses the importance of developing improved and dynamic investment approaches that seek to better understand and manage total portfolio risk as well as identify sources of return.

Dan Farley, State Street Global Advisors

Individuals are vulnerable to economic and financial risks as they approach and enter retirement. Insights from behavioural finance can be used to enhance risk communication and retirement outcomes.

Prof Hazel Bateman, UNSW

Investors should be aware of the risks they are exposed to within a portfolio and when they're being paid to take risk (or not). A different approach is needed to build portfolios with better risk awareness.

Nick Bullman, CheckRisk

Formal reports redolent with data and analysis fail to communicate risks as people actually feel them. Reports need to be replaced by rapports, by engaged conversations.

Prof Jack Gray, UTS

If geopolitics is far more important in considering investment markets today, how do we integrate geopolitics into portfolio construction?

Marko Papic, BCA Research

In recent years, the risk parity approach to asset allocation has been gaining popularity. Evidence supports it but confidence in its efficacy requires a theoretical justification.

Cliff Asness, AQR Capital Management

As we sit today with some unprecedented market conditions, it's probably more relevant than ever to understand both sides of the risk and return equation in the fixed income space.

Dr Michael Hasenstab, Franklin Templeton

Is risk parity's outperformance in the past decade sustainable or just a quirk of the unusual markets.

Michael Kitces

To flourish in the robo-advice era, portfolio construction practitioners must provide clients with a positive Return on Attention (ROA), Intimacy (ROI) and Empathy (ROE).

Dr David Lazenby, ScenarioNow Inc

What return premia - if any - are attached to different types of investment risk? And just how reliable those premia are in practice? Can the risks be diversified?

Tim Farrelly

For many Australians, their house is one of their biggest assets, if not the biggest. But a leveraged owner-occupied home is riskier than the sharemarket.

Christopher Joye, Smarter Money Investments

We need to relate to investors in such a way that they can once again know and trust that financial security is a fact, not a feeling.

Timothy Noonan, Russell Investments

The traditional approach to portfolio construction is to own a diversified portfolio, adjusting total risk up or down. An alternative is to take a bucket approach.

Michael Kitces

A sustained period of lower global growth, rich valuations from traditional assets and an eerie calm before the storm in asset price volatility require a different approach to asset allocation.

David Griffith, BlackRock

In managing a risk on/risk off world, investors can maintain or increase exposure to growth assets while experiencing a smoother ride.

Don Hamson, Plato Investment Management

To ensure risk is genuinely well diversified takes a forward-looking scenario-analysis process to combine quantitative rigor with qualitative insights of the plausible but unlikely extreme stresses we might face.

Mark Foster, Standard Life Investments

When looking to reconnect risk and return in portfolios, what better place to start than with the barometer of equity market risk itself?

Simon Ho, Triple 3 Partners

If risk and return are imperfectly linked, there is opportunity to increase average return, without increasing risk - particularly in equity markets where risk is mispriced.

Ryan Taliaferro, Acadian Asset Management

In many cases, fundamental risk and return characteristics have been shown the door as funds have flowed into ever lower yielding income asset classes.

Mark Kiesel

The last decade has seen a distinct disconnect between investment risk and return, versus what we're taught should be the case.

Graham Rich, PortfolioConstruction Forum

Fixed income has changed, and is very different today versus what it was years ago. It makes sense to evolve your portfolios accordingly.

Rick Rieder, BlackRock

What are the questions that everyone is asking today? When will interest rates spike? And, what about the increased rate of inflation? One has to accept the changing nature of these two elements.

Joan Payden, Payden & Rygel

The constant challenge is to keep clients focused on their wealth goal when they are distracted by the many other factors that influence their perception of risk.

Kajanga Kulatunga, MLC Investment Management

To improve client outcomes, financial practitioners must master six basic response skills.

Dr David Lazenby, ScenarioNow Inc

A common belief amongst financial practitioners is that investors and clients understand the investment objective. But are our investment beliefs a reflection of reality or investment myths?

Fredrik Axsater, State Street Global Advisors

Needleman said, "Money has a way to bring reality to situations". If so, the challenge is to have more scientific clarity helping to expose what money (and therefore investing) represents in a client's world.

Dr David Lazenby, ScenarioNow Inc

Finology is the emerging (and converging) research field covering the study of minds, customs and behaviours with respect to money. It incorporates behavioural finance, and much, much more.

Michael Kitces

There may be rocks ahead. Reconnecting risk and return must be the right focus - but thinking conventional tools will keep us out of trouble may be a mistake.

Alan Brown, Schroders

Alpha Potential is gaining traction as a tool to identify opportunities for active management, enhancing the value proposition afforded to active managers.

Andrew Kophamel and Ben Wang, Aberdeen Asset Management

People often ask me about my outlook for the US housing market. The outlook is improving - and that's constructive for consumer spending, confidence and jobs.

Mark Kiesel

The last decade has seen a disconnect between investment risk and return vs what we're taught should be the case. What is the long-term relationship? Can it be beaten?

PortfolioConstruction Forum

A dynamic risk management approach can protect a portfolio again sequencing risk, providing reliable investment returns over the cycle.

Plato Milliman

This paper reviews the principles, practices, risk management requirements and implementation steps needed to build absolute return focused portfolios.

Nick Griffiths, Pengana Capital

To ensure risk is genuinely well diversified takes a sophisticated forward-looking scenario-analysis process to combine quantitative rigor with qualitative insights of extreme stresses it might face.

Mark Foster & Chris Nichols, Standard Life Investments

This paper explores the thesis that capturing the traditional relationship of fixed income in the total client portfolio will require more untraditional approaches going forward.

Chris Siniakov & Andrew Canobi, Franklin Templeton Investments

Six stocks make up just under half of the Australian equity market. This research paper examines the impact of this on investors' returns, and whether it is responsible investing.

Olivia Engel

This paper explores a different approach to asset allocation and alternative returns sources to reduce the reliance on traditional asset classes and drive returns.

David Griffith, BlackRock

This research paper discusses (in simple terms) how to reconnect the concept of Risk and Return via the practical application of volatility derivatives to portfolios.

Triple3 Partners

This paper explores the opportunities within private equity and private debt and examines their role in providing downside protection for investors.

Dr Stephan Schäli & Florian Demleitner, Partners Group

Over the past 40 years, the high-yield landscape has grown exponentially. Knowing the key risks and emerging opportunities can help map a path forward.

Gershon Distenfeld & Ashish Shah, AllianceBernstein

Uncertainty about the timing of future interest rate rises poses challenges to fixed income investors. This paper identifies options available in managing portfolios in such an environment.

Nick Gartside, JP Morgan Asset Management

After two decades of elevated earnings and PEs - and two bear markets but also three bull markets - many are questioning whether Shiller CAPE is all that predictive.

Michael Kitces

Risk assets are grinding higher and volatility is extraordinarily low - and monetary stimulus is still plentiful. What does life after zero (rates) look like?

BlackRock Investment Institute

We've come to accept a world where the US drives what happens in the global economy and markets. But that's changing - with significant implications for portfolios.

Dominic McCormick

Going forward, instead of 5% real, traditional stocks and bonds will offer about 2.5%. But there are many things you can do to bridge the gap.

Cliff Asness, AQR Capital Management | 1 comment

Investing can and often is intellectually compelling. But it should not be driven by excitement, as it is for many individuals.

Jeremy Grantham

Are equities at the end of a five-year cyclical bounce or the start of a 15-year structural breakout? History suggests two contradictory answers.

Anatole Kaletsky

It is not surprising that bond managers have significant difficulty in outperforming a market cap-weighted benchmark.

Michael Furey

This paper is a great introduction to why behavioural finance is quickly becoming recognised as a field that can add real value to the wealth management industry.

Angela Ashton, PortfolioConstruction Forum

As investment professionals, we live investing every day. We spend excessive time reporting and not enough 'rapporting.'

Prof Jack Gray, UTS | 1 comment

The GFC was the first crisis where good risk profiling tools were in place for a wide range of investors. Two papers look at whether risk tolerances altered materially through it.

Angela Ashton, PortfolioConstruction Forum

Do geopolitical events involving potential or actual military conflict really matter in the constructing of investment portfolios?

Dominic McCormick

Are we at the start of a long-term bond bear market? Here are three factors that I expect to keep bond yields lower for longer, and five important implications for investors.

Curt Custard, UBS Global Asset Management

Symposium NZ 2014 facilitated debate on the three pillars of portfolio construction – markets, strategies and investing - to help delegates build better quality portfolios. This CPD Quiz is for delegates to complete, to receive Structured CPD Hours.

This paper examines the oft-considered subject of hedge fund returns, finding far greater dispersion than for traditional fund managers.

Angela Ashton, PortfolioConstruction Forum | 3 comments

The staple of retirement planning - save a percentage of income - makes it surprisingly difficult to ever reach retirement. The alternative is much easier and more successful.

Michael Kitces

Everyone knows bond rates are going up - so why would you buy fixed interest? Actually, there are three really good reasons.

Tim Farrelly

PortfolioConstruction Forum Academy Winter Seminar 2014 featured four sessions: Risk, return & relating; Statistics, lies, and investment performance analysis; How safe are safe withdrawal rates in retirement?; and, Communicating and learning with and from clients.

The Islamist surge through central Iraq has the potential to upset the plans of investors who've convinced themselves that volatility is in the past.

Charles Gave, GaveKal

What we are witnessing in Iraq is a war within Islam. Will it mutate into a broader regional war thereby threatening oil supplies?

Jonathan Pain | 5 comments

Here are some brief thoughts on four issues that matter a lot, in our view. Two have been poorly discussed in the financial press, and the other two have been ignored completely.

Woody Brock

Moving to a twenty-first-century currency system would make it far simpler to move to a twenty-first-century central-banking regime as well.

Kenneth Rogoff

Investing differently gives no certainty of great results (increasing the odds of being wrong as well as right). But it is a necessary but not sufficient ingredient for great performance.

Dominic McCormick

Are we any good at estimating the values of our homes? Surprisingly, on average we are, according to a RBA study. It also found a link to weightings of risky assets in portfolios.

Angela Ashton, PortfolioConstruction Forum

Across the industry, portfolio rebalancing is the norm - with little agreement on the optimal frequency. So I experimented to find out which frequency is best.

Michael Furey | 2 comments

This Resources Kit is a deluge of videos, podcasts, and papers for all sessions of the jam-packed Symposium 2014 program so you can "attend" even if you weren't part of the 200-strong audience.

Markets are pricing in expectations that the ECB will have to be very aggressive next week if it is to turn back the tide of European deceleration. It's reminiscent of October 1987.

Louis-Vincent Gave, GaveKal

Most research assumes retirees maintain a consistent standard of living. A new study disproves this, implying we may be overestimating funds needed to retire by up to 20%.

Michael Kitces

Three interrelated aspects of practically managing client portfolios - constructing portfolios using buckets, diversifying human capital, and the Withdrawal Policy Statement.

Michael Kitces

Our Symposium NZ 2014 faculty debated that the best way for practitioners to manage a client's primary risk of not meeting their objectives is to manage the long-term uncertainty of returns.

Symposium NZ 2014 Investment Advisory Board

This paper and presentation argue that understanding what is going on under the bonnet at central banks is key to understanding what will drive markets, and how best to position portfolios.

Christian Hawkesby, Harbour Asset Management

Are the human and organisational barriers to being better investors insurmountable, or can we learn and improve our decision-making?

Prof Jack Gray, UTS

Typically, MPT has focused solely on how to invest within classes, not amongst them. But MPT continues to evolve.

Michael Kitces

This paper and presentation provide an introduction to the risk tolerance paradox, exploring the main reason it exists, and introducing risk management strategies that seek to solve the problem.

Michael Armitage, Milliman Financial Risk Management

This paper and presentation argue that the bond market can offer compensation against rising rates through roll down and active management of forwards.

David Fisher, PIMCO

Central banks must complete the Great Unwind – removing ultra-easy monetary policies. The critical period for markets will come when the Fed lifts short-term rates (probably, but not necessarily, after tapering ends).

Tim Farrelly

Graham Rich opened Symposium 2014 in his usual thought-provoking (and entertaining) way, highlighting key issues to consider over the jam-packed, marathon program.

Graham Rich, PortfolioConstruction Forum

If you were lending somebody money, would you lend them more money just because they had more debt? If you are investing according to a debt-weighted benchmark, that is exactly what you are doing.

Graham Ansell, ANZ NZ Investments

Faced with the prospect of rising yields, some investors are cutting bond allocations. But the bond market can offer compensation against rising rates.

Scott Mather, David Fisher & Michael Story, PIMCO

Understanding what is going on under the bonnet at central banks is key to understanding what will drive markets – and therefore how to best position portfolios.

Christian Hawkesby, Harbour Asset Management

While it is well established that equity valuations impact medium-term equity returns. It is less well known that starting period equity valuations also impact medium-term equity volatility and bond-equity correlations.

Keith Poore, AMP Capital NZ

There is huge variety in retirement income strategies. This paper introduces "longevity risk aversion" and its impact on safe withdrawal rates.

Angela Ashton, PortfolioConstruction Forum | 1 comment

Often, the true dangers reside where investors are most comfortable going and the best opportunities are where investors fear to tread.

Dominic McCormick

Whatever return forecasts you make will be wrong - so you better have a portfolio that has the opportunity to make money in a very broad spectrum of investment outcomes.

Guy Stern, Standard Life Investments | 1 comment

It is time to start looking at alternative assets. Not because there is any pressing need to invest today, but because thorough analysis takes time and mistakes can be expensive.

Tim Farrelly

Valuation is not just an important driver of investment returns but also of investment volatility.

Stephen Anness

Towers Watson's compendium of insights into global equity investing contains useful insights about issues many portfolio construction practitioners face every day.

Angela Ashton, PortfolioConstruction Forum

Divorcing your debt benchmark and adopting more unconstrained approach to debt investing and offering degrees of freedom to the portfolio manager is the new "core".

Lisa Kim, PIMCO

The Academy Autumn Seminar 2014 featured four sessions: 10 golden rules for portfolio construction; Reassessing the global debt spectrum; Currency revisited - to hedge or not to hedge; Volatility investing - the next frontier.

Against a backdrop of currency slides, yield spikes and chronic equity underperformance, we invited our EM experts to defend their asset class against three charges.

BlackRock Investment Institute

Target date funds are becoming the workhorse for DC plans but there are problems with the approach. This paper offers a portfolio construction framework to overcome them.

Ben Inker & Martin Tarlie, GMO

The active versus passive debate was recently given a boost when Warren Buffet suggested in his annual letter that most investors are better off investing passively.

Dominic McCormick | 1 comment

In recent months, we've highlighted one school of research on funding retirement income, being the sustainable withdrawal rate approach. This paper takes a different approach.

Angela Ashton, PortfolioConstruction Forum | 1 comment

The challenge for investors over the past several years is that diversification did not work as expected. The dynamic nature of correlation must be factored into portfolio modeling.

Dan Farley, State Street Global Advisors | 1 comment

So the US budget deficit is contracting because government consumption is falling? It is really just an accounting illusion. Financial repression is still the order of the day.

Charles Gave, GaveKal

Does Fama and French's latest work, A Five-Factor Asset Pricing Model, provide any information that can be of practical value to advisers or investors? The answer is no.

Michael Edesess | 1 comment

The nature of target date funds - encompassing multiple objectives and changing asset allocations over time - raises challenges for performance reporting.

Sean Henaghan, AMP Capital

2014 is likely to be a year of genuine improvement in the global economy, and one where uncertainty is rather low.

Christopher Probyn, State Street Global Advisors

As the logic goes, retired clients deplete their portfolios, and more pass away as the years go by, so a firm with aging clients is akin to a rapidly depreciating asset. But is this true?

Michael Kitces

It's the eternal debate - can active management outperform? Two recent reports offer some interesting insights into the issue.

Angela Ashton, PortfolioConstruction Forum

If you believe the US State Department has the Crimean situation under control, plan for a bullish scenario for risk assets. Plan for the opposite, if you believe Putin will prevail.

Louis-Vincent Gave, GaveKal | 1 comment

Australians are waking up to the fact that they have not had enough global (mainly equity) exposure. Why the case for more global exposure now?

Dominic McCormick

A new research paper looks specifically at withdrawal rates in the Australian context, confirming the legislated minimums for account-based pensions are much too high.

Angela Ashton, PortfolioConstruction Forum

This Resources Kit is a deluge of videos, podcasts, and papers for all 18 sessions of the jam-packed Markets Summit 2014 program - The Great Escape (what will markets be like in the QE runout?) so you can "attend" even if you weren't part of the 500-strong audience.

In rapid-fire presentations, 18 experts from various parts of the world debated the biggest issue facing the financial world.

Greg Bright, Investor Strategy News

In a new format for Markets Summit 2014, delegates took the role of CIO for the day, as the 18 strong presenter faculty made the case for their highest conviction insights.

Angela Ashton, PortfolioConstruction Forum

Normal is not our experience - today's world is different from anything in the history of human capitalism. The Aquarium Theory of Investing is one way to gain perspective.

Brian Singer, William Blair & Co

Our Markets Summit faculty debated two critical issues arising from Unconventional Monetary Policy; for the coming two to three years, to substantially overweight DM vs EM Equities in portfolios and substantially overweight Short vs Long Duration Bonds.

Markets Summit 2014 Investment Advisory Board

We must challenge common assumptions about the US and emerging markets to ensure we are focusing on the best routes to the right destination.

Ronald Temple

Emerging Markets were a focal point in 2013, repricing as US stimulus, commodity prices and China's boom subsided. In future, EM performance will depend on individual merit.

Kathryn Koch, Goldman Sachs Asset Management

The US is the critical market of the global economy - and there are sign-posts that clearly suggest it is ready to surprise on the upside, with significant implications for portfolios.

Hamish Douglass, Magellan Financial Group

Think about bonds as an insurance policy for portfolios. With higher yields available, very cheap insurance is even better able to pay for hurdles facing portfolios.

Robert Mead, PIMCO

To achieve the Great Escape, central banks must first complete the Great Unwind – the removal of ultra-easy monetary policies. So what is the roadmap for the Great Unwind?

Tim Farrelly

Ultra-low interest rates and QE have offset the deflationary forces of debt deleveraging. The challenge policy makers face is when to withdraw the stimulus to avert inflation.

Susan Gosling

Breaking Unconventional Monetary Policy (B.U.M.P.) and it's impact on global financial stability is the key risk for the foreseeable future.

Nick Bullman, CheckRisk

In a Great Escape world, ignoring the index and actively seeking growth investments regardless of size or weightings is more important than ever.

Alex Milton, NovaPort Capital

The ability to pick inflection points in markets as well as deploying TAA across credit will be the key ingredient going forward.

Robert Waldner, Invesco

Short-term rates are likely to remain low for a prolonged period of time. Investors will still need to source yield, they'll simply have to be more creative to find it.

Russ Koesterich, BlackRock

Most of the world will see an improvement in economic growth this year. Equities are by far the most attractive asset class - but they will be much more volatile.

Jonathan Pain

Today's long period of very easy money and very low yields has distorted the financial system. This will cause unintended consequences in the near future as QE ends.

Woody Brock

William Bengen established the 4% rule - and showed a higher exposure to equities was better for retirement portfolios.

Angela Ashton, PortfolioConstruction Forum | 4 comments

The Academy Summer Seminar 2013 featured four sessions: The paradox of wealth (& what can be done); Don't concentrate too hard; Developing your investment philosophy; and, Financial literacy and cognitive functioning.

As we entered 2014, the consensus on the best and worst areas to invest could be described very simply: momentum investing ruled, contrarian investing was dead.

Dominic McCormick

The bullish mood suddenly changed in early January. Here is a structure for thinking about recent market events that may be helpful in assessing new evidence as it comes along.

Anatole Kaletsky

A report on asset allocation intentions of financial planners set the voice in my head singing "How many times..."

Tim Farrelly

The majority of the world will see an improvement in economic growth this year. But, after a lengthy and linear rise, equity markets will see much greater volatility this year.

Jonathan Pain

Breaking Unconventional Monetary Policy is not an asymmetric outcome - it is like 50 shades of grey, whips included, particularly for emerging markets.

Nick Bullman, CheckRisk