Following is a list of Markets articles published on PortfolioConstruction Forum throughout 2012...
The Japanese house price experience of the past two decades remains a real possibility for many countries including Australia...
The biggest myth that investors believe about China is that its economy is primarily driven by exports. Two charts debunk this misconception...
farrelly's Investment Strategy provides tools and services to enable a proactive, forward-looking approach to asset allocation, a key driver of quality portfolio construction and quality results for investors...
Mssrs Henry, Murray and Tanner are successful in their fields. But none has a background in financial planning or investment management. It shows.
The Academy Member Resources area is a rich repository of continuing education material including the presentations, podcasts, and research papers from the one-day Academy Seminars...
This Academy Seminar debates the following three topics in a Socratic learning environment: Investment fables III - Value; What does financial success look like in retirement; and, Turning micro observations into macro insights.
Despite the decision by the US Fed to postpone another round of quantitative easing, two questions remain unanswered as to the appropriateness of QE...
Key themes playing out in the market at present include the ECB's LTRO, ongoing recovery in the USA, the rise of the Eastern consumer and a secular move to e-commerce and electronic payments...
Last week, I visited Shanghai and Beijing. The most intriguing insight relates to the longer term sustainability of China’s economic growth model.
Woody is one of the world's leading economic thinkers. He view is that China is the worst case of currency manipulation in history.
Welcome to the farrelly's Proactive Asset Allocation subscriber-only area...
Welcome to the farrelly's Proactive Asset Allocation subscriber-only area.
The quarterly Proactive Asset Allocation Handbook is published electronically, and emailed to subscribers in early March, June, September, and December. It features farrelly's Editorial; long-term outlook for markets; Forecast in Focus; and three different approaches to Implementation...
The quarterly Proactive Asset Allocation is published electronically, and emailed to subscribers in early March, June, September, and December. It features farrelly's Editorial; long-term outlook for markets; Forecast in Focus; and three different approaches to Implementation...
The current secular bull super cycle has been driven by two key characteristics - both of which are expected to persist for years yet...
While we tend to focus on sharp market crashes, sudden declines that recover quickly within just a year or few are not necessarily problematic. What is far more destructive are extended periods of mediocre returns...
The US dollar has proved to be the Comeback Currency in the past - and there are early signs that it could stage another comeback. However, the A$ looks set for big drops before the end of 2012.
The prevailing expectation is that we’re in for a period of lower returns and significant volatility. In this exclusive interview, Michael Turner, Head of Quantitative Research & Analysis with FRM in London discusses how a CTA fund can contribute to portfolios in such an environment...
For decades, long-only equities has been “king”, the dominant component of most long-term investors’ portfolios. But, the King has been overthrown in recent years, and cash has assumed the throne as investors have flocked to its supposed safety. Cash is King - but is just it a pretender to the throne? Markets Summit 2012 debated how long cash will remain King, how other asset classes will fare against it over the coming three years – and how we can do better than cash when building quality investor portfolios…
The Hot Topic Debate at the 2012 Markets Summit focused on the case for and against including gold in portfolios. Is gold a good means of portfolio diversification and protection, as well as a hedge against inflation and currency depreciation? Or is it, as those in the opposing corner argue, that the last decade is an anomaly for gold and it has no place in portfolios...
The inaugural Peter L Bernstein Memorial Lecture at the 2012 Markets Summit focused on Zombie Economics. The GFC exposed the flaws in many of the assumptions behind market liberalism - in most cases, problems were evident well before the GFC, but those who pointed them out were dismissed or ignored. These dead ideas still walk among us...
This session helped delegates determine the key takeouts from the Markets Summit, and actions to take when building investor portfolios...
This Asset Class Forum session at the 2012 Markets Summit saw our presenters and Inquisitors debate the outlook for the Australian debt and equities market, REIT market, Asian equities market and global commodities market, and the portfolio construction implications...
This Asset Class Forum session at the 2012 Markets Summit focused on the 2012-2014 outlook for the global commodities market, including the most likely scenario, performance v cash, risks and opportunities, and portfolio construction implications...
This Asset Class Forum session at the 2012 Markets Summit focused on the 2012-2014 outlook for the Asian equities market, including the most likely scenario, performance v cash, risks and opportunities, and portfolio construction implications...
This Asset Class Forum session at the 2012 Markets Summit focused on the 2012-2014 outlook for the REIT market, including the most likely scenario, performance v cash, risks and opportunities, and portfolio construction implications...
This Asset Class Forum session at the 2012 Markets Summit focused on the 2012-2014 outlook for the Australian equities market, including the most likely scenario, performance v cash, risks and opportunities, and portfolio construction implications...
This Asset Class Forum session at the 2012 Markets Summit focused on the 2012-2014 outlook for the Australian debt market, including the most likely scenario, performance v cash, risks and opportunities, and portfolio construction implications...
This Big Picture Forum session at the 2012 Markets Summit saw our presenters and Inquisitors debate the outlook for the global developed market (DM) and emerging market (EM) equities markets, and the portfolio construction implications...
The 2012-2014 outlook for the global emerging market equity markets, risks and opportunities, and the portfolio construction implications...
The 2012-2014 outlook for the global emerging market equity markets, risks, opportunities, and portfolio construction implications...
This Big Picture Forum session at the 2012 Markets Summit saw our presenters and Inquisitors debate the outlook for the global economy and global debt markets, and the portfolio construction implications...
The outlook for the global debt markets relative to cash, risks and opportunities, and portfolio construction implications...
The 2012-2014 outlook for the global economy with particular emphasis on the US and Europe, key scenarios and portfolio construction implications...
The year 2011 saw modest earnings growth of 5% overwhelmed by price to earnings contraction of -15%. It would be hard to imagine that 2012 will be another similar year unless something major or unexpected occurs...
2011 was a disappointing year for equity markets in Asia ex-Japan, recording negative returns and underperforming the developed market peers - however the outlook for Asian equity markets in the short term (one year) and longer term (three years) is promising...
We all wish for fresh starts, and investors are no exception. This year, it is especially tempting to want to leave the past twelve months behind and hope for better in 2012...
The extraordinary announcement by the ECB on 21 December that it would lend 489 billion to the European banks was very much the game changer that soothed financial markets - and, all in all, I feel quite a bit happier about what's happening in Europe. But, the drum beat of war in the Persian Gulf is probably the most alarming in a very long time...
Assessing risk is one of the key aspects in determining a quality asset allocation - and, ultimately, portfolio. Recently, FOS issued a guidance note, identifying advisers must consider a client's attitudes to risk AND capacity for loss - what I call their financial risk capacity. So what is risk capacity, and how should it be assessed?
Jonathan Pain, Editor of The Pain Report, is a regular key note presenter at PortfolioConstruction Forum's professional development programs. Over the years, he has debuted new investment theses and challenged delegates about how to build better quality investor portfolios...
This Academy Seminar debates the following three topics in a Socratic learning environment: Investment fables II - Momentum; Making sense of Markets Summit; and, The outlook for Emerging Markets and asset allocation...
Investors need to major in three subjects to get asset allocation right in 2012 - plus, they would do well to study psychology.
Since 2006, we've led more than 80 practitioners on a BRIC+ Study Tour China. We know it will materially increase your knowledge and experience of this influential market - and help you build better quality portfolios.
PortfolioConstruction Forum Markets Summit facilitates debate on the medium-term outlook for the markets, and the portfolio construction implications. Markets Summit is relevant to all wealth management professionals who have a responsibility to understand the drivers and outlook for investment markets, one of the three pillars of portfolio construction...