Slick LICs

IPOs of LICs continue. But LICs have unique challenges and complexities that make them a complicated investment decision - which is certainly not the way they are marketed.

Dominic McCormick, Select Asset Management 2 comments Opinion


A return to valuation-driven markets

Over the next year or two, asset prices will no longer be driven by economic stats and monetary policy. Three major rotations are likely to continue and gather pace.

Anatole Kaletsky, GaveKal Opinion


Dysfunctional risk and return

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, PIMCO Resources


Finding smart beta in the factor zoo

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 Research


The big differences with EM debt

EM debt is a relatively new asset class. In any liquid format, it's only been around for about 20 years - and the most attractive part of the EM debt market has yet to re-rate.

Arif Joshi, Lazard Asset Management Opinion


A 'surprise on forward guidance?

Speculation is building that the Fed will surprise financial markets with a new framework for forward guidance, perhaps as soon as the FOMC meeting on 16/17 September.

Dr Robert Gay, Fenwick Advisers Opinion


The UK now faces years of volatility

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

Anatole Kaletsky, GaveKal Opinion


The exaggerated death of inflation

Modern central banking has worked wonders to bring down inflation. Today, high inflation seems remote. But inflation is only dormant, it is certainly not dead.

Kenneth Rogoff, Harvard University Opinion


The Zen of risk parity and Richard Nixon's surprise benefit

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 Opinion


Making the right call on Term Deposits

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, farrelly's White Paper


Monetary policy is no threat to markets

A big correction in equities, if it hits in the next year or two, is unlikely to be caused by monetary policy expectations.

Anatole Kaletsky, GaveKal Opinion


Ramblings about unconstrained debt funds

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, Delta Research & Advisory Opinion


The crisis in retirement planning

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 Research


Russia's Eurasian vision

The escalating conflict in Ukraine has focused attention on a fundamental question: What are the Kremlin's long-term objectives?

Nouriel Roubini, Roubini Global Economics Opinion


Opportunities and challenges in a less US-centric world

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, Select Asset Management Opinion


The global obsession with US data

Since 2010, there has been an almost perfect correlation between the strength of the US economy and stock markets outside the US. But this is set to diminish.

Anatole Kaletsky, GaveKal Opinion


Shiller CAPE - terrible but valuable

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, Pinnacle Advisory Group Opinion