Capitalism, inequality, and Piketty

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.

Dr Woody Brock, SED Research Paper


Risk rapporting

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 Resources


Four takeaways from the recent volatility spike

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 Opinion


Bill Sharpe on retirement income planning

One of the originators of CAPM, Sharpe (along with Markowitz and Miller) was awarded the 1990 Nobel Prize in economics. I sat down with him to discuss retirement income planning.

Robert Huebscher, Advisor Perspectives Interview


Phrases that should be banished from retirement planning

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

Michael Kitces, Pinnacle Advisory Group Opinion


The inequality trifecta

Most countries face a trio of inequalities - of income, wealth, and opportunity. Beyond the moral, social, and political implications lies a serious economic concern.

Mohamed El-Erian, Allianz Opinion


US rate signal may be broken

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

Dominic McCormick, Select Asset Management Opinion


The German word for this

The German word for what we saw in markets this week is Torschlusspanik. Literally "gate-shut-panic", it describes the nasty crush when everyone rushes at once for an exit.

GaveKal Opinion


Market volatility - has it turned?

Earlier this year, volatility across a whole range of key global assets reached major multi-year lows. But, equity volatility, we expect, has passed it's low for this cycle.

Chris Watling, Longview Economics White Paper


China's Gordian policy knot

China has about five years to lay the groundwork for the transition to a new monetary policy framework with a currency that is sufficiently flexible.

Dr Robert Gay, Fenwick Advisers White Paper


Prepare for a change of course

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 Insight


Down the retirement risk zone with gun

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 Research


Markets' rational complacency

An increasingly obvious paradox has emerged in global financial markets this year. While geopolitical risks have multiplied, markets remain buoyant, if not downright bubbly.

Nouriel Roubini, Roubini Global Economics Opinion


Geopolitical risks (and rewards) - the impact on portfolios

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

Marko Papic, BCA Research Resources


Hearing echoes of 1987

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, GaveKal 1 comment Opinion


Retirement risk, rising equity glidepaths and valuation-based asset allocation

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 Research