perspectives

Risk, uncertainty and ignorance

Investors often face unknown and even unknowable states of the world. How should we make investment decisions under ignorance?

Prof Jack Gray, UTS Opinion

perspectives

Much lower interest rates for longer

Low GDP growth, very low real rates, higher PEs and valuation multiples - it's a new world. We all need to get used to it. In particular, we should review client spending plans.

Tim Farrelly, farrelly's 1 commentOpinion

perspectives

A post-volatility world

These are words that I utter with the utmost caution - this time, it really is different. For something genuinely new to the modern experience, consider the curious case of collapsing equity volatility.

Charles Gave, GaveKal Opinion

perspectives

Playing with matches

Fixed income markets seem to have gotten the correct message, albeit perhaps for the wrong reasons – short-term interest rates will stay low for a long time.

Dr Robert Gay, Fenwick Advisers Opinion

perspectives

EM: adjusting, secularly promising

EM equities and fixed income enjoyed a boom in the 2000s. Now after several years of relative underperformance, EMs appear to be on the cusp of stronger growth.

Tai Hui, JP Morgan Asset Management1.00 CPD White Paper

markets summit

Australia's New Neutral: Low interest rates for even longer

Lower 'neutral' monetary policy rates across the developed world will continue to serve as an important anchor for the secular valuation of all asset classes.

Robert Mead, PIMCO0.50 CPD Resources

perspectives

Gold may regain its shine

While it has offered a very bumpy and challenging ride in recent years, I suspect those prepared to buy and hold some gold exposure today will be well rewarded.

Dominic McCormick, Select Asset Management Opinion

perspectives

Why Germany should exit the eurozone

A German exit from the eurozone would give Germany the currency it deserves and leave the rest of the eurozone with the carcass of a currency well suited for its needs.

Oliver Hartwich, The New Zealand Initiative Opinion

perspectives

How indexation killed growth

Indexing, as I have written before, is a form of socialism, since capital is allocated not as it should be. It is hard to think of a more stupid way to allocate this scarce resource.

Charles Gave, GaveKal Opinion

perspectives

The case for active investment mgmt

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

Bill Priest, Epoch Investment Partners1.00 CPD White Paper

perspectives

Assessing manager risk and perf

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.

Angela Ashton, PortfolioConstruction Forum0.75 CPD Research

markets summit

India's transformation: a compelling fixed income opportunity

As its capital markets develop, the macro picture improves, inflation comes under control, and the economy grows, India's credit and rates markets present a compelling opportunity.

Neeraj Seth, BlackRock0.50 CPD Resources

perspectives

Greece's madmen at work

Hardly a day passes that a Greek government official does not add a needless provocation to the bailout debate. Is this just madness? Or is there method in it?

Oliver Hartwich, The New Zealand Initiative 1 commentOpinion

perspectives

Financial ratio analysis

Even if it's not your intention to recommend stocks, understanding financial analysis in general and ratios in particular, can enhance your ability to analyse equity funds.

Angela Ashton, PortfolioConstruction Forum1.25 CPD Research

perspectives

The investment implications of Fed tightening

After more than six years of near zero interest rates, the Fed seems set upon the long journey back to more normal monetary policy. What are the investment implications?

Dr David Kelly, JP Morgan Asset Management1.25 CPD White Paper

perspectives

How should retirees manage risk?

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

Angela Ashton, PortfolioConstruction Forum0.75 CPD 2 commentsResearch