Bank hybrids are not equities...

Another major licensee has reportedly fallen for the hybrid scare campaigns, insisting bank hybrids securities be treated as equities. The premise is hopelessly flawed.

Tim Farrelly, farrelly's 7 commentsOpinion


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 2 commentsMontage


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 Opinion


Niall Ferguson - a busy year for historians

2016 was a bumper year for history. But actually, it's just history as normal, says historian Niall Ferguson. And neither the Trump election nor Brexit signals the end of globalisation.

Nathan Smith, National Business Review Opinion


Incentives approach for NZ's new PM

Prime Minister English could differentiate his government by focusing on housing affordability to transform the lives of millions of New Zealanders.

Oliver Hartwich, The New Zealand Initiative 1 commentOpinion


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 Opinion


Is swapping volatility risk for longevity risk the right strategy?

Given increasing longevity, it's important that retirees not ignore strategies that can generate long-term capital growth. In short, retirees need to re-examine the role of equities in their portfolio.

Mugunthan Siva, India Avenue Investment Management Opinion


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 Forum0.50 CE 1 commentResources


The "real" IOOF "scandal" 18 mths on

Mid this year, ASIC concluded its enquiry into allegations of wrongdoing and criminal behaviour at IOOF, related mainly to the research team and its then head. The real "scandal" turned out to be about reckless and biased elements of the media (and politicians).

Dominic McCormick, DPM Financial Services Opinion


Bond market turmoil in a Trumpian economy

Many worry that "the new normal" may be over, that the peak of the bond market has been reached, and so forth. We agree in part with this new view and offer some pointers to help navigate the bond market shoals ahead.

Dr Woody Brock, SED Opinion


Using age banding to estimate spending in retirement

A growing body of research on the actual spending habits of retirees finds spending declines over time, implying retirees may not need to be saving as much to retire.

Michael Kitces, Pinnacle Advisory Group Research