1. The life and times of Schnitzel von Krumm

    The Forum team recently said a sad goodbye to our beloved sausage dog, Schnitzel von Krumm. He was well known to those who attended our live programs or visited our office over the past decade. The team has put together this montage of a few memories...

    Hannah Molyneux, PortfolioConstruction Forum | 16-12-16 | 3 comments | More
  2. No free lunch in investing - but are there free drinks?

    When it comes to returns, it's true that there is no free lunch - for one person to win, another loses. But with risk, diversification offers "free drinks", albeit that the bar where these are served evolves over time because correlation is not static.

    Thomas Poullaouec, State Street Global Advisors | 15-12-16 | More
  3. The winds of change - two chapters ahead

    I think of two winds of change. The first is a fundamental change in the direction of global monetary policy. The second is technology. For now, though, we really need to think about the first.

    Hamish Douglass, Magellan Financial Group | 14-12-16 | More
  4. An end to the Mae West approach to monetary policy

    In the years since the Global Financial Crisis, Central Banks have taken a Mae West approach to monetary accommodation. If a little is good, and more is better, then too much is just right. What happens when it ends?

    Jason Thomas | 29-11-16 | More
  5. US will maintain a thoughtful distance amid disorder

    Growing US scepticism on international free-trade and defence agreements is rational in an unstable world, according to US geopolitical forecaster and author, George Friedman.

    Will Jackson | 28-11-16 | 1 comment | More
  6. Values and investing

    Does our character manifest itself in our investing decisions? This Resources Kit presents 10 key research papers, presentations and opinion pieces around what determines values, how values impact ethics and behaviour, and the relationship to trust.

    Curated by PortfolioConstruction Forum | 25-11-16 | 0.50 CE | 1 comment | More
  7. Middle class matters

    Five years after the Euro crisis, it's not just Europe we’re concerned about from a populist perspective but also the US and UK. Why is this is a real risk for investors?

    Marko Papic, BCA Research | 02-11-16 | More
  8. 2016 Conference - Webcast

    Conference 2016 featured a stellar lineup of international and local experts offering their best high conviction idea/thesis around the the friction between short-term and long-term investing imperatives - and the portfolio construction decisions that must be made.

    30-08-16 | More
  9. The long-term impact to short-term thinking

    Short-term thinking in finance is nothing new. New paradigms may emerge slowly and without much publicity. Listen for weak signals - ideas may emerge in some unconventional ways.

    Dr Keith Suter, Global Directions | 25-08-16 | 0.50 CE | More
  10. Andrew's story – The Wayside Chapel

    Andrew's story epitomises how disadvantaged people may, can and do re-engage with society and contribute positively, when given a hand up by the rest of us.

    Andrew Windsor, The Wayside Chapel | 25-08-16 | 1 comment | More
  11. This is not the time to stop thinking

    While parts of the asset management industry appear to be dumbing down, we must continue to educate individuals on the differences between investment and speculation.

    Hamish Douglass, Magellan Financial Group | 25-08-16 | More
  12. Hold your nerve to avoid the herd

    Most investors don't experience the same returns of the portfolio or fund they are invested in. Investment discipline is the key - not emotion, not market noise - to ensuring you arrive at your planned investment destination.

    David Wright, Zenith Investment Partners | 25-08-16 | More
  13. Look for the signal among the noise

    Too often when analysing investments, the focus is on pure performance over too short a timeframe. We must lengthen the timeframe and adjust for risks, before we can begin to know whether value has truly been added.

    Michael Furey | 25-08-16 | More
  14. Let your philosophy be your rudder

    A clear investment philosophy will be your rock in times when short-term noise plays havoc with your portfolios.

    Lukasz de Pourbaix, Lonsec | 25-08-16 | More
  15. Flexibility is key to goals-based strategies

    Individuals underestimate the degree to which their lives will change over the long-term, so how can practitioners build portfolios to meet clients' future needs?

    Michael Kitces | 25-08-16 | More
  16. It's a whole new world out there and it's time to change

    Practitioners need to move away from a focus on simple performance towards holistic client management. The industry needs to change, rebuilding trust with better diversity and transparency.

    Jonathan Shead, State Street Global Advisors | 25-08-16 | 0.25 CE | More
  17. Impatience is very real but it can be managed

    People vary tremendously in their impatience. For many, it is a real struggle to take the long view. New research shows how to identify and manage financial impatience.

    Dan Silverman, Capital Preferences | 25-08-16 | 0.50 CE | More
  18. All portfolios must have an active currency policy

    Investing offshore requires currency exposure. Currency impacts can wash out over time, but its tidal forces are strong and independent of a client's retirement time frame. Currency is both a risk and an investment opportunity.

    Dori Levanoni, First Quadrant | 25-08-16 | 0.50 CE | More
  19. You don't own enough global small caps

    Investors can harness the long-run benefits of active satellites like global small caps to drive better portfolio outcomes despite volatile markets.

    Rob Failla, Lazard Asset Management | 25-08-16 | 0.50 CE | More
  20. Global Equity Income - timing not time in that counts

    While not traditionally known for income, there are thousands of dividend income opportunities among global companies which can provide income similar to Australian shares.

    Don Hamson, Plato Investment Management | 25-08-16 | 0.50 CE | More
  21. Over inflated long duration assets will lose you money

    Real assets including real estate have overinflated valuations. Investors need to understand the frame work necessary to manage the trade-off between shorter term returns and longer term risks.

    Stephen Hayes, Colonial First State Global Asset Management | 25-08-16 | 0.50 CE | More
  22. Spurn the supernova and fight the fear of fixed income

    With global yields at record lows, bond market Cassandras proclaim the formation of a supernova, warning of the investment perils. It's time to spurn that talk, and stick with the core, defensive anchor provided by global fixed income.

    Jeff Grow, UBS Asset Management | 25-08-16 | 0.50 CE | More
  23. Mind the Gap: 2-3 years is the most fertile hunting ground

    With most market participants distracted by short-term noise or focused on mean reversion of long-term valuations, the gap in the middle is an under-researched and fertile hunting ground.

    David Millar, Invesco Perpetual | 25-08-16 | 0.50 CE | More
  24. It's time to turn to liquid alternatives

    Liquid alternatives have the potential to provide significant short- and long-term benefits for investors. It is important to not let common misconceptions about liquid alternatives undermine their potential benefits.

    Sam Mann, Franklin Templeton Investments | 25-08-16 | 0.50 CE | More
  25. Infrastructure provides reliable earning irrespective of crises

    Provided investors define infrastructure in a disciplined manner, investment in infrastructure will continue to deliver investors reliable earnings over time.

    Gerald Stack, Magellan Asset Management | 25-08-16 | 0.50 CE | More
  26. Tracking error cause short termism

    Tracking error constraints on active management focus on short-term outcomes and don’t align with most investor goals, which are longer term. So how else can portfolios be designed?

    Olivia Engel | 25-08-16 | 0.50 CE | More
  27. Use centuries of investment wisdom in portfolios today

    For all the wisdom of four centuries of investing, not much has changed in financial markets. Boom and bust cycles still exist and speculation is higher than ever. But the Prudent Man Rule from 1830 can serve as a useful anchor for investors.

    Jan Sytze Mosselaar, Robeco | 25-08-16 | 0.50 CE | More
  28. Capital allocation is a (mostly) long-term game

    Longer-term assessments of risk and potential returns will always underpin the construction of multi-asset or diversified portfolios. However, context matters.

    Ian Patrick, Sunsuper | 25-08-16 | 0.25 CE | More
  29. Manager benchmarking is a pox on both investors and markets

    It seems sensible to make investment managers accountable by requiring them to perform relative to a benchmark. But this kind of motivation has a perverse effect.

    Ron Bird | 25-08-16 | 0.50 CE | More
  30. Long-term investing pays... if you can handle the pressure

    The benefits of long-term investing extend beyond just being able to invest in illiquid assets. Patience can pay its own dividend. The challenge is holding at bay the relentless pressures to respond and deliver over the short term.

    Geoff Warren, CIFR | 25-08-16 | 0.50 CE | More
  31. Self-determination is the first step to achieving redress

    Greater self-determination and social justice for Aboriginal and Torres Strait Islander peoples offers a path to progress.

    Mick Dodson, Australian National University | 25-08-16 | More
  32. Panel: Geopolitics - East Asia and the US election

    This panel debated the high conviction thesis that the key geopolitical risk of the times is tension between China, the US and South East Asian countries, as well as the impact of the US election on markets.

    Panel | 25-08-16 | 0.25 CE | More
  33. Geopolitical risk? Ignore terrorism, focus on East Asia

    Geopolitical tensions between China, the US, and countries of South East Asia are growing. Most investors dismiss the region as a risk. But we are at a precipice of a left-tail risk event.

    Marko Papic, BCA Research | 25-08-16 | 0.25 CE | More
  34. Unfavourable candidates can be favourable for the US economy

    There has never been a more divisive US election season than the one we are witnessing right now. While the rhetoric and opinion polls are captivating on a weekly basis, the long game is what matters.

    Libby Cantrill, PIMCO | 25-08-16 | 0.50 CE | More
  35. Lead for impact and with pride

    It is easy to assume that leadership (or a lack thereof) only occurs in upper level, high status positions. The long and short of this premise needs to be scrutinised. We must recalibrate our thinking.

    Troy Hendrickson, Duke CE | 24-08-16 | 0.50 CE | More
  36. This time is not different, we’re just predisposed to think so

    Markets are volatile and events are unprecedented – or at least that’s what we’re told and have been conditioned to believe. Times and markets are volatile, but they always have been and they always will be.

    Philippe Jordan, Capital Fund Management | 24-08-16 | 0.25 CE | More
  37. Asset managers must adapt to serve their clients

    Client needs are changing. And these changes will challenge asset managers, especially as the industry goes through consolidation.

    Doug Hodge, PIMCO | 24-08-16 | More
  38. Embracing low cost is an important principle

    Cost structures will continue to evolve rapidly, as more firms and individuals realise that cost is the one component than investors can control, to improve their outcomes.

    Bill McNabb, Vanguard | 24-08-16 | More
  39. It is time to go long Australian banks

    Australian banks face a number of headwinds - they are real, but could better be described as zephyrs. The market has overreacted. Buy the banks.

    Tim Farrelly | 24-08-16 | 0.50 CE | More
  40. High returns with low risk is possible in a low/negative yield world

    It is possible to generate high returns with low risk irrespective of where short-term cash rates or long-term government bond yields may be.

    Christopher Joye, Smarter Money Investments | 24-08-16 | 0.50 CE | More
  41. SMSF portfolios need an asset allocation rethink

    Many SMSF portfolios are inefficient - creating an opportunity to either increase returns for the current level of risk or reduce risk to achieve existing returns over the shorter term.

    David Wanis, Schroders | 24-08-16 | 0.50 CE | More
  42. Data has and will continue to revolutionise financial markets

    Finding patterns in data to make money in falling or rising markets relies on an empirical, skeptical, scientific mindset to identify signals.

    Mitesh Patel, Winton Capital Management | 24-08-16 | 0.50 CE | More
  43. Investor time horizons impact infrastructure returns

    Listed and unlisted infrastructure investment are complimentary ways to access the same underlying cash flows. But varying investor time horizons impact the investment returns both targeted and achieved.

    Nick Langley | 24-08-16 | 0.50 CE | More
  44. Prudently managed, equities are an excellent income generator

    Increasing equity exposure for retirees does not have to be a daunting move. Breaking down the index shows that income and not capital has been doing the heavy lifting over the longer term.

    Jason Teh, Investors Mutual | 24-08-16 | 0.25 CE | More
  45. Smart-beta managers can't replicate idiosyncratic stock selection

    The active versus passive debate is being displaced by active versus smart beta. Active managers need to demonstrate that their investment philosophy is designed to exploit inefficiencies that are sustainable over time.

    Stephen Weeple, Standard Life Investments | 24-08-16 | 0.50 CE | More
  46. Engaging investors' long-term view is our moral duty

    By encouraging investors to control their emotions and by choosing the right funds, we can help them meet their long-term needs.

    Don Phillips, Morningstar | 24-08-16 | More
  47. Headlines battle facts, but fundamentals will prevail

    As an investor, allowing yourself to be distracted by quick interpretation of market dynamics will lead to poor allocation decisions. Ultimately, fundamentals will win out for long-term investors.

    James Swanson, MFS Investment Management | 24-08-16 | 0.50 CE | More
  48. Demographics does not mean dull

    Demographic trends give a solid basis from which to forecast beyond the usual two-year time horizon. Demographic layering of equity investment decisions can be a powerful structural growth tool as well as a strong risk mitigator.

    Alva Devoy, Fidelity International | 24-08-16 | 0.50 CE | More
  49. Long-term investing a fool's paradise

    Finance principles tell investors to buy good companies at attractive prices and they should perform over the long term. But what worked last century won't necessarily stand true this century.

    Sean Fenton, Tribeca Investment Partners | 24-08-16 | 0.25 CE | More
  50. Traditional asset allocation fails to capture long-term trends

    Rapid technological innovation, affordable communication, and demographic shifts are reshaping the world. The traditional country/regional approach to asset allocation is not optimal for capturing these new opportunities.

    Luis Oliveira, Capital Group | 24-08-16 | 0.50 CE | More
  51. Not all Australian income funds fit for purpose

    Australia’s bond market has evolved over time. As it grows and sub-sectors emerge, investor must ask – is my defensive allocation true-to-label?

    Charles Jamieson, Jamieson Coote Bonds | 24-08-16 | 0.50 CE | More
  52. Active managers require three ingredients for success

    Active fund groups with the right combination of culture, technology and philosophy enable investors to protect and grow their capital in a complex world.

    Bill Priest, Epoch Investment Partners | 24-08-16 | More
  53. Client expectations are rising - average is not an option

    Client solutions will require the use of both smarter passive and high conviction active strategies, allocated in a way to meet the needs of individuals.

    Martin Flanagan, Invesco | 24-08-16 | More
  54. Panel: Global policy rates will stay low for the rest of the decade

    This panel debated the high conviction thesis that global policy rates will stay low for the rest of the decade and what forces that could change that outlook.

    Panel | 24-08-16 | 0.50 CE | More
  55. Global policy rates will stay low for the rest of the decade

    Yellen and the market (EDZ8) agree – there is a New Neutral. The result? Global policy rates will stay low for the rest of the decade. Only a handful of major forces that could change this outlook.

    Tony Crescenzi | 24-08-16 | 0.50 CE | More
  56. Short-termism obscures long-term vision

    The long-term ambitions of investors and politicians are often thwarted by short-term pressures. The solution may comprise a combination of passive and high conviction alpha strategies.

    Geraldine Buckingham, BlackRock | 24-08-16 | More
  57. The past is passive, the future is definitely active

    Passive investment has flourished since the GFC but we are entering a new environment where active management will thrive. The opportunity for practitioners to add value has gone up significantly.

    Charles Carroll, Lazard Asset Management | 24-08-16 | More
  58. We must change our legacy for the better

    The financial system we bequeath is unstable, un-trusted and built on inappropriate theory with mis-aligned incentives.

    Prof Jack Gray, UTS | 24-08-16 | 0.50 CE | 8 comments | More
  59. Purpose-driven portfolios perform better

    Many assume there is a trade-off between investing for financial returns and social impact. This is false and misleading. There is a synergy between profit and purpose.

    Andrew Kuper, LeapFrog Investments | 24-08-16 | 0.50 CE | More
  60. Commitment brings the best out of liquid alpha

    It remains possible to generate alpha from liquid strategies but investors must shift their focus away from short-term performance, and towards longer-term measurements of success.

    Carol Geremia | 24-08-16 | More
  61. The long and short of it

    Investing is supposed to be about the incremental replacement of human capital with financial capital over the long term. But today's environment and our behavioural biases conspire against such a pure case.

    Graham Rich, PortfolioConstruction Forum | 24-08-16 | 0.25 CE | More
  62. A revolution is underway in portfolio construction

    Rising liabilities and low expected returns are driving a greater focus on outcome-based strategies and factor investing.

    Ron O'Hanley, State Street Global Advisors | 22-08-16 | More
  63. Patience is the hallmark of long-term investment

    Rather than adopting a set-and-forget approach, long-term investors should be engaged asset owners and take a broader perspective on risk, in order to achieve sustainable investment returns.

    Hendrie Koster, Mercer Investments | 22-08-16 | More
  64. Magellan: acorn to oak tree in 10 years

    It's 10 years since the Forum's publisher, Graham Rich, interviewed Hamish Douglass and Chris Mackay as the firm launched the now behemoth Magellan Global Fund.

    Hamish Douglass, Magellan Financial Group | 22-07-16 | More
  65. The Australian equities X factor

    Everybody is an Australian equities expert, understandably so for those who live in Australia. But the X factor in Australian equities portfolios is concentration risk.

    Charlie Lanchester, BlackRock | 14-06-16 | More
  66. 10 "Gray Swans"

    By definition, Black Swans are unknowable - they should surprise us. But here are 10 "gray swans" complicating the outlook for markets and portfolio construction.

    Dan Farley, State Street Global Advisors | 03-06-16 | More
  67. 2016 Symposium - Resources Kit

    Symposium facilitates featured a stellar line up of 20 international and local experts - including special guest keynote, Professor Niall Ferguson, PhD, internationally renowned economic and financial historian - offering their expert, high conviction ideas to help build better quality investor portfolios.

    27-05-16 | More
  68. How to develop a robust retirement spending policy

    One of the most important decisions facing retirees is working out how much can be “safely” spent without the risk of exhausting capital. This session reviewed the different approaches to create a formal, written spending policy.

    Tim Farrelly | 18-05-16 | 0.75 CE | 3 comments | More
  69. How not to be blindsided by the retirement investment challenge

    Presented in a format that incorporates a game, this workshop explored the risk factors that drive retirement portfolio outcomes.

    John Valtwies & Manusha Samaraweera, PIMCO | 18-05-16 | 0.75 CE | More
  70. Today's risk profiling puts us all at risk

    Risk profiling is entirely broken. The key to understanding clients is in analysing their actions, not their words, or answers to a risk questionnaire.

    Bernard Del Rey, Capital Preferences | 18-05-16 | 0.50 CE | 4 comments | More
  71. Size does matter when investing in India's growth

    India’s demographic dividend creates a significant market opportunity for corporates operating within the ecosystem. But size really does matter, leading to the potential for unparalleled revenue growth.

    Mugunthan Siva, India Avenue Investment Management | 18-05-16 | 0.50 CE | More
  72. Right now inflation is the most important macro indicator

    Central bankers successfully tamed inflation in the late 1980s and early 1990s. Persistently low inflation is the new problem. With markets complacent about the inflation outlook, signs of inflation could create a scare.

    Christian Hawkesby, Harbour Asset Management | 18-05-16 | 0.50 CE | 2 comments | More
  73. Reach goals despite -ve rates

    Investors are slowly awakening to the threat that negative interest rates globally pose to their goals. Diversified funds need a higher mix of growth assets, and TAA should be applied.

    Paul Richardson, Mint Asset Management | 18-05-16 | 0.50 CE | More
  74. Currency is the ultimate alternative

    The currency exposure embedded in foreign equity portfolios exposes portfolios to a great deal of noise. Used productively, the opportunity it represents can be captured as the ultimate "alternative asset".

    Dori Levanoni, First Quadrant | 18-05-16 | 0.50 CE | 4 comments | More
  75. Think differently to find sustainable, secure sources of income

    US private market home loans – income producing, low credit risk, low volatility assets that can generate a stable flow of monthly income - are one of many opportunities to consider for portfolios.

    Adam Grotzinger, Neuberger Berman | 18-05-16 | 0.50 CE | More
  76. Identify retirement resources that matter

    It's a sad fact that not everyone adjusts well to retirement. It's estimated that about one third of retirees have problems adapting after leaving full time work. So why do some people fail to adapt? A Dynamic Resource Model provides a potential solution.

    Joanne Earl | 18-05-16 | 1.00 CE | 2 comments | More
  77. Symposium 2016 - The Great Debate

    Our Symposium 2016 Faculty debated two high conviction ideas from the first day's program - firstly, the idea that delegates agreed with most and then, the idea delegates disagreed with most.

    Symposium 2016 Great Debate Panel | 17-05-16 | 0.50 CE | More
  78. Don't believe what you hear – this is a high return environment

    While record low interest rates worldwide (negative in many countries) mean low returns on government bonds, it doesn't necessarily mean low returns across the board. This is not a time to be fearful.

    Tim Farrelly | 17-05-16 | 0.50 CE | More
  79. The end of EUrope as we know it

    The EU has been in crisis for many years. But if you thought it could not get worse for Europe, you ain't seen nothing yet! 2016 might well signify the end of Europe's process of integration.

    Oliver Hartwich, The New Zealand Initiative | 17-05-16 | 0.50 CE | 2 comments | More
  80. China’s rapid growth is unsustainable

    China's growth has become reliant on credit stimulus and a related property bubble. This is coming unstuck. The risks to the global economy and markets are significant.

    Sam Churchill, Magellan Asset Management | 17-05-16 | 0.50 CE | 2 comments | More
  81. In a period of sustained sluggishness, quality companies are key

    The tepid recovery from 2008's GFC has surprised almost everyone. Investing in this low growth world requires a very selective stock picking approach, and suggests focusing on value and quality.

    Hugh Giddy, Investors Mutual | 17-05-16 | 0.50 CE | More
  82. Quality is a critical factor in constructing portfolios

    Quality is a critical factor in constructing portfolios. The use of a modified Piotroski indicator as an indicator or screen for equities can significantly add to investment performance in NZ and Australia.

    Andrew Bascand, Harbour Asset Management | 17-05-16 | 0.50 CE | 2 comments | More
  83. The hidden consequences of low interest rates for portfolios

    If you see one cockroach, you haven't seen them all. That's a very important concept today for managing diversified portfolios. We see one cockroach – low interest rates, but what we don't see is the hidden consequences throughout portfolios.

    Simon Stevenson, Schroders | 17-05-16 | More
  84. Secular stagnation or inflection point? A historical perspective on the post-crisis world

    With a growing number of central banks resorting to negative interest rates and the IMF acknowledging the risk of secular stagnation, investors could be forgiven for feeling nervous. Yet there is some evidence that the global economy may be at an inflection point.

    Niall Ferguson | 17-05-16 | More
  85. Secular stagnation or inflection point? The post-crisis world in historical perspective

    With a growing number of central banks resorting to negative interest rates and the IMF acknowledging the risk of secular stagnation, investors could be forgiven for feeling nervous. Yet there is some evidence that the global economy may be at an inflection point.

    Niall Ferguson | 17-05-16 | 1.25 CE | More
  86. Going negative - rethink investing in a world of low returns

    Nearly every investor is confronting the challenge of how to invest in a low growth, low return environment. Investors must rethink portfolio construction.

    David Fisher, PIMCO | 17-05-16 | 0.50 CE | More
  87. Time to sell/short beneficiaries of the US high yield debt bubble

    The extreme thirst for yield has pushed the US high yield debt cycle into unchartered territory. It is approaching shakeout - with long/short opportunities amongst the beneficiaries of the current cycle.

    Jacob Mitchell | 17-05-16 | 0.50 CE | 4 comments | More
  88. Ride the cycle but structural weakness will come to matter more

    Investors need to be wary that without much needed reform, structural weaknesses in many advanced and developing economies will be the ultimate determinant of longer-term returns.

    Bevan Graham, AMP Capital NZ | 17-05-16 | 0.50 CE | More
  89. Pay attention to geo-politics when making investment decisions

    The world seems an increasingly dangerous place, driven by uncertainty and conflict. Yet on many measures, the world is becoming safer. More than ever, investors need to filter out the noise and consider emerging geo-political developments shaping the world.

    Dr Keith Suter, Global Directions | 17-05-16 | 0.75 CE | 4 comments | More
  90. Gold stocks are not just for the bears

    Gold stocks have become a great addition to portfolios - based on expected returns as well as their strong diversification benefits given a beta of almost nothing.

    Olivia Engel | 06-05-16 | More
  91. 2016 Markets Summit - Resources Kit

    Markets Summit 2016 featured a stellar lineup of international and local experts offering their best high conviction idea/thesis around the Markets Summit theme - is it deja vu (all over again)? - and the resulting portfolio construction decision(s) that must be made.

    18-02-16 | More
  92. Finology Summit 2016 - key takeouts

    Delegates determined their key takeouts from the day's program, and actions to take to further improve the way they relate with individual investors - and/or help others who must do so.

    Graham Rich, PortfolioConstruction Forum | 17-02-16 | 0.25 CE | More
  93. How to accelerate trust using response skills

    The conventional tactics of asking questions to gain trust during client meetings are based on faulty and outdated assumptions. Five conversational recipes are needed to achieve a trust trifecta.

    Dr David Lazenby, PortfolioConstruction Forum | 17-02-16 | 1.00 CE | More
  94. How game theory creates deeper client understanding

    Use clients' choices to recover both their true preferences and their financial sophistication and the impact of complexity on client decision-making.

    Dan Silverman, Capital Preferences | 17-02-16 | 1.00 CE | More
  95. How advice is central to delivering retirement confidence

    State Street's 2015 Retirement Survey interviewed 1200 Australians, to understand the psychology of Australian retirees and the opportunity to engage and boost confidence.

    Jonathan Shead, State Street Global Advisors | 17-02-16 | 0.50 CE | More
  96. How to identify retirement resources that matter

    It's a sad fact that not everyone adjusts well to retirement. It's estimated that about one third of retirees have problems adapting after leaving full time work. So why do some people fail to adapt? A Dynamic Resource Model provides a potential solution.

    Joanne Earl | 17-02-16 | 1.00 CE | More
  97. How finology can minimise delays in client decisions

    Research in finology, neurology and psychology consistently reveal that our decisions are disrupted by an array of biases and irrationalities. Merely being aware of these shortcomings doesn’t fix the problem. The real question is ‘how can we do better?’

    Dr David Lazenby, PortfolioConstruction Forum | 17-02-16 | 1.25 CE | More
  98. Finology - where investing meets investors

    In our society, it’s critical that every individual has a clear perspective about money, and the role that it plays in their present and future well-being. But money means different things to different people.

    Graham Rich, PortfolioConstruction Forum | 17-02-16 | 0.25 CE | More
  99. Don't pile into resources this year

    Like 2014 and 2015, Australian resources stocks in 2016 may look cheap but it is not an attractive trade. More reliable returns will be delivered by high quality companies well beyond the familiar territory of the 20 Leaders.

    Olivia Engel | 16-02-16 | 0.50 CE | More
  100. Markets Summit 2016 - The Great Debate

    The three motions put by our independent economists for Markets Summit 2016 were 1. Capitalism and globalisation will not survive the next GFC; 2. The markets are overreacting in particular to the outlook for China’s economy and currency, and the prospects for financials; 3. You should protect your positions this year by buying risk overlays.

    Markets Summit 2016 Great Debate Panel | 16-02-16 | 1.00 CE | More
  101. Ready for a record-length US recovery

    This is not deja-vu all over again. This recovery is still middle aged and has years to go. Equity markets continue to be attractive on their own merits and especially relative to fixed income.

    Ronald Temple | 16-02-16 | 0.50 CE | 2 comments | More
  102. Chickens coming home to roost

    For six years, the Fed operated a 'cheap money' policy. As a result, we had a 'cheap money' recovery. With the Fed now two years into tightening, the chickens are coming home to roost. The equity bear market is underway.

    Chris Watling | 16-02-16 | 0.50 CE | More
  103. Old fears in emerging markets are masking new opportunities

    It's true that the past few years have been challenging for emerging markets as a whole. But not all emerging economies are equal, and uneven prospects are driving compelling return differences. Investors should have them back on their radars.

    David Holstein, Capital Group | 16-02-16 | 0.50 CE | More
  104. It's the end of EU-rope as we know it

    The EU has been in crisis for many years. You ain't seen nothing yet! 2016 will change the nature of the EU – and it might well signify deja-vu, the end of Europe's process of political and economic integration.

    Oliver Hartwich, The New Zealand Initiative | 16-02-16 | 0.50 CE | More
  105. There's nowhere to run, nowhere to hide... but plenty of risks

    Today, there are no clearly diversifying mainstream assets. All assets are expensive and what seems safe may hold the greatest risk. We need to set realistic expectations and invest only of the basis of genuine insight.

    Susan Gosling | 16-02-16 | 0.50 CE | 3 comments | More
  106. The resources cycle is getting closer to the bottom

    In a cyclical sector like commodity, deja-vu abounds for those with a long memory. As the outlook improves, equities usually rally before commodity prices, responding to improved demand forecasts.

    Dr Joanne Warner, Colonial First State Global Asset Management | 16-02-16 | 0.50 CE | 2 comments | More
  107. Australia is the land of complacent oligopolies

    Australian equity investors should look beyond the largest blue chip stocks in the financial, resources and telecommunications sectors – to industrial companies that are better positioned for growth.

    Madeleine Beaumont, BlackRock | 16-02-16 | 0.50 CE | More
  108. The Eurozone is an economic calamity

    Investment in "peripheral" Europe is a high-risk proposition. Much has changed, but nothing has changed! Yes, the eurozone is an economic calamity.

    Bruce Campbell, Pyrford International | 16-02-16 | 0.50 CE | 2 comments | More
  109. Don’t catch a falling knife - avoid high yield and EM bonds

    The market continues to misprice the risk of large scale defaults and debt restructures. Now is the time to sell high yield and EM bonds exposure, while you still can.

    Vimal Gor, BT Investment Management | 16-02-16 | 0.50 CE | More
  110. This is anything but a new paradigm

    Growing wealth and managing risk is a considerably more complex challenge than it was a decade ago. Excellence in asset allocation and implementation are more important than ever before.

    Matthew Sherwood, Perpetual Investments | 16-02-16 | 0.50 CE | 3 comments | More
  111. The ASX's future is past

    The Australian equity market will continue to underwhelm going forward. Investors need an equally-weighted approach to returns that places far less emphasis on commodities and banking.

    Joe Bracken, Tempo Asset Management | 16-02-16 | 0.50 CE | More
  112. Demographic shifts are polarising investment opportunities

    We are at an inflection point where the global dependency ratio is becoming adverse. This will lead to profound changes to the composition of the population around the world, polarising investment opportunities.

    Aneta Wynimko, Fidelity International | 16-02-16 | 0.50 CE | 2 comments | More
  113. Sell/short the beneficiaries of the US high yield debt bubble now

    The extreme thirst for yield has pushed the US high yield cycle into unchartered territory. In a clear case of déjà vu (replace "subprime" for "high yield"), the cycle has reached the shakeout phase.

    Jacob Mitchell | 16-02-16 | 0.50 CE | More
  114. Investment grade credit - income without destroying capital

    It's possible to have your cake and eat it too. Global investment grade credit has not been this attractive in spread terms for the past six years.

    Robert Mead, PIMCO | 16-02-16 | 0.50 CE | 2 comments | More
  115. Investment lessons from Japan

    Often in markets, you do get the feeling that somehow we've been here before. But things are never quite the same. Looking at some examples from the past, particularly Japan, we can see what can we learn and apply to our investment decisions going forward.

    Tim Farrelly | 16-02-16 | 8 comments | More
  116. China is falling into the middle income trap

    As China's economy slows and policymakers struggle, economic friction is mounting. Without drastic reforms, China will find it difficult to avoid the middle income trap.

    Alex Wolf | 16-02-16 | 0.50 CE | 4 comments | More
  117. China contagion is driven more by sentiment than fundamental

    China's Black Monday renewed investor concerns about a hard landing. It is critical to assess the macroeconomic and market scenarios of a China hard landing and the impact on investors' portfolios.

    Oleg Ruban, MSCI | 16-02-16 | 0.50 CE | More
  118. Fasten your seatbelt for a volatile 2016

    Debt levels are too high (deja-vu!). Until now, QE has softened the impact. With consensus perceiving the Fed to return to normal (?), markets are entering unchartered waters - 2016 is set to be a volatile year.

    Brett Lewthwaite, Macquarie Investment Management | 16-02-16 | 0.50 CE | 2 comments | More
  119. 2015 a year to forget, 2016 not the year to forgive

    For all its ups and down, 2015 ended up being a year to forget for Australian investors, with little variation in the performance of major asset classes. The coming year will be a rerun of this theme. Dynamic allocation within portfolios and additional levels of diversification will be critical for 2016 to avoid the feeling of deja-vu.

    Kerry Craig, JP Morgan Asset Management | 16-02-16 | 0.50 CE | More
  120. The distorted reality is unwinding

    The Fed has begun its interest rate tightening, and deja-vu - there continues to be a great disagreement about the quantum of the rises. Rates will go higher than most expect and QT will impact on financial asset volatility.

    Hamish Douglass, Magellan Financial Group | 16-02-16 | 0.50 CE | More
  121. Debt cycles don't repeat themselves - but this one rhymes

    A 50-year era of inflation is ending and we are left no inflation, little growth and too much debt. China's slowdown and the current oil glut are early signs that this debt bubble may end badly.

    Robert Gay | 16-02-16 | 0.50 CE | 4 comments | More
  122. Is it deja-vu (all over again)?

    Does it feel like we've been here before? The more things change, the more they seem to stay the same! Does that mean that, going forward, markets and asset classes will behave as in the past? Is it deja-vu (all over again)?

    Graham Rich, PortfolioConstruction Forum | 16-02-16 | 0.50 CE | More
  123. Is it deja-vu 2008?

    Many people have written to me in recent months and asked whether I believe this is yet another 2008. In my view, there are many significant differences. But I'm afraid we're set for some extreme volatility in the months, if not the years, ahead.

    Jonathan Pain | 16-02-16 | More
  124. More from your core

    Core assets - Australian equities, global equities, and fixed income - are going to generate pretty lacklustre returns this year. Having as efficient a portfolio as possible is going to be really key to your return success.

    Kevin Anderson, State Street Global Advisors | 01-02-16 | More
  125. About Finology

    Finology explores the relationship between human beings and money in our society. It is the emerging (and converging) research field covering the study of minds, customs and behaviours with respect to money. It incorporates behaviour finance and much, much more.

    31-01-16 | More