1. Forum Fodder NZ 28 Apr 2017

    This week Fodder kicks off with an analysis of the first round of the French presidential election, and what an (increasingly likely) Emmanuel Macron-led France would mean. Then we turn to three offerings from Dr Bob Gay, Brett Lewthwaite and PIMCO's Jamil Baz, on debt markets and investments. Finally, Professor Jo Earl's top 5-rated Finology Summit session, on how to get clients (ourselves, for that matter) to turn good intentions into action.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 28-04-17 | Forum Fodder NZ
  2. Forum Fodder 28 Apr 2017

    This week Fodder kicks off with an analysis of the first round of the French presidential election, and what an (increasingly likely) Emmanuel Macron-led France would mean. Then we turn to three offerings from Dr Bob Gay, Brett Lewthwaite and PIMCO's Jamil Baz, on debt markets and investments. Finally, Professor Jo Earl's top 5-rated Finology Summit session, on how to get clients (ourselves, for that matter) to turn good intentions into action.

    Graham Rich, Publisher, PortfolioConstruction Forum | 28-04-17 | Forum Fodder
  3. Research Review: Only in Scandinavia?

    Do professional investors do better when investing on their own behalf? What is the relationship between the remuneration of professional investors and performance? What role to gender and age play in the use of ETFs?

    Ron Bird, University of Technology Sydney | 10-04-17 | Review
  4. Forum Fodder NZ 31 Mar 2017

    Fodder kicks off with a unique insight from Peter Lilley on how BREXIT will play out. UTSProf Ron Bird disagrees with Paul Keating on first-home buyers using their super to get a foot on the property ladder. Yale's Stephen Roach argues that, yet again, the Western perspective has missed the Chinese context when it comes to growth. Charles Dallara explains Trump will have a bumpy first half year as he learns the ropes of navigating the US political system and we share details of the newly formed Investment Management Research Program, an initiative between the Forum and UTS Business School that will continue to enhance the breadth and depth of our CE and certification programs.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 31-03-17 | Forum Fodder NZ
  5. Forum Fodder 31 Mar 2017

    Fodder kicks off with a unique insight from Peter Lilley on how BREXIT will play out. UTSProf Ron Bird disagrees with Paul Keating on first-home buyers using their super to get a foot on the property ladder. Yale's Stephen Roach argues that, yet again, the Western perspective has missed the Chinese context when it comes to growth. Charles Dallara explains Trump will have a bumpy first half year as he learns the ropes of navigating the US political system and we share details of the newly formed Investment Management Research Program, an initiative between the Forum and UTS Business School that will continue to enhance the breadth and depth of our CE and certification programs.

    Graham Rich, Publisher, PortfolioConstruction Forum | 31-03-17 | Forum Fodder
  6. Forum Fodder NZ 24 Mar 2017

    Dr Woody Brock leads this week with an exclusive 15-minute video in which he debunks the myth that our living standards have declined. Berkeley Professor Eichengreen explains what "an impatient [US] president, frustrated and hemmed in on all sides" is likely to do. Michael Kitces argues that every retirement income strategy needs to address three key questions to satisfy our intrinsic (illogical) "hierarchy of retirement needs". Will Jackson covers demography specialist Richard Jackson's insights on how ageing in the developed world is increasing the risk of social upheaval in the developing world. And, we bring you Ron Temple's top five-rated presentation on why "the winds of change" sweeping through the markets are stronger than you think.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 24-03-17 | Forum Fodder NZ
  7. Forum Fodder 24 Mar 2017

    Dr Woody Brock leads this week with an exclusive 15-minute video in which he debunks the myth that our living standards have declined. Berkeley Professor Eichengreen explains what "an impatient [US] president, frustrated and hemmed in on all sides" is likely to do. Michael Kitces argues that every retirement income strategy needs to address three key questions to satisfy our intrinsic (illogical) "hierarchy of retirement needs". Will Jackson covers demography specialist Richard Jackson's insights on how ageing in the developed world is increasing the risk of social upheaval in the developing world. And, we bring you Ron Temple's top five-rated presentation on why "the winds of change" sweeping through the markets are stronger than you think.

    Graham Rich, Publisher, PortfolioConstruction Forum | 24-03-17 | Forum Fodder
  8. A client's life is a mix of stocks & bonds

    It is time to properly account for risk characteristics of client’s most valuable asset - their human capital. This isn’t easy to implement and places practitioners in a difficult situation...

    Moshe Milevsky, York University | 24-03-17 | 1.00 CE | CE session
  9. Behavioral biases & hierarchy of retirement needs

    Research suggests we mentally account for income and assets with an intrinsic hierarchy of priorities - a "hierarchy of retirement needs". So retirement income strategies should be reframed to answer three questions.

    Michael Kitces, Nerd's Eye View | 23-03-17 | Research
  10. Forum Fodder NZ 10 Mar 2017

    Chris Watling returns to Fodder this week with a 10-minute video insight, Prof J Bradford DeLong compares society's overall wealth today to the Agrarian Age, Tim Farrelly debunks the notion that negative gearing is the driver of high property prices and Will Jackson sums up how Markets Summit delegates converted the Faculty's insights into four practical portfolio construction decisions. Finally we feature Martin Conlon's top-rated presentation from Markets Summit 2017 in which he argues how to reposition Australian equity portfolios to protect against the risk of higher inflation and interest rates.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 10-03-17 | Forum Fodder NZ
  11. Forum Fodder 10 Mar 2017

    Chris Watling returns to Fodder this week with a 10-minute video insight, Prof J Bradford DeLong compares society's overall wealth today to the Agrarian Age, Tim Farrelly debunks the notion that negative gearing is the driver of high property prices and Will Jackson sums up how Markets Summit delegates converted the Faculty's insights into four practical portfolio construction decisions. Finally we feature Martin Conlon's top-rated presentation from Markets Summit 2017 in which he argues how to reposition Australian equity portfolios to protect against the risk of higher inflation and interest rates.

    Graham Rich, Publisher, PortfolioConstruction Forum | 10-03-17 | Forum Fodder
  12. farrelly's Investment Strategy (Australia)

    Welcome to the farrelly's Dynamic Asset Allocation subscriber-only area.

    07-03-17 | 1 comment | Full Story
  13. farrelly's Investment Strategy (NZ)

    Welcome to the farrelly's Dynamic Asset Allocation NZ subscriber-only area...

    07-03-17 | Full Story
  14. farrelly's Dynamic Asset Allocation Handbook (Australian Edition)

    The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...

    07-03-17 | Full Story
  15. farrelly's Dynamic Asset Allocation Handbook (NZ Edition)

    The quarterly Dynamic 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...

    07-03-17 | Full Story
  16. Forum Fodder NZ 03 Mar 2017

    In this week's Fodder, Tim Farrelly, Jonathan Pain's top-rated presentation from our recent Markets Summit 2017 program, Bob Gay, Prof Jeffrey Sachs, Michael Kitces and Derek Thurp.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 06-03-17 | Forum Fodder NZ
  17. Four fundamental portfolio construction decisions

    Markets Summit 2017 delivered 20+ high conviction ideas on how the winds of change are affecting the outlook for economies and asset classes - and delegates were asked to convert the insights into four fundamental portfolio construction decisions.

    Will Jackson, PortfolioConstruction Forum | 06-03-17 | Opinion
  18. Forum Fodder 03 Mar 2017

    In this week's Fodder, Tim Farrelly, Jonathan Pain's top-rated presentation from our recent Markets Summit 2017 program, Bob Gay, Prof Jeffrey Sachs, Michael Kitces and Derek Thurp.

    Graham Rich, Publisher, PortfolioConstruction Forum | 03-03-17 | Forum Fodder
  19. The wrong side of maybe fallacy

    Monte Carlo analysis is commonly used to evaluate retirement spending plans - but our cognitive and behavioural biases may interfere with proper interpretation of the results.

    Michael Kitces, Nerd's Eye View | 28-02-17 | Research
  20. Low interest rates matter. So do imputation credits

    A recent, widely circulated article suggested the major Australian banks are overpriced. But including the effect of imputation and a view on interest rates makes a huge difference...

    Tim Farrelly, farrelly's | 27-02-17 | Opinion
  21. Forum Fodder NZ 24 Feb 2017

    This week's Fodder features Prof Niall Ferguson's presentation from Markets Summit, Prof Ken Rogoff explaining why Trump can't afford to bully China. Our own Will Jackson has written up his key takeouts from Finology Summit, and Michael Furey looks at the evidence of a link between Australian economic growth and equity market returns. And finally, we feature the WEF's founder, Klaus Schwab, on the impact of the fourth industrial revolution on how we will live, work and relate with one another.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 24-02-17 | Forum Fodder NZ
  22. Forum Fodder 24 Feb 2017

    This week's Fodder features Prof Niall Ferguson's presentation from Markets Summit, Prof Ken Rogoff explaining why Trump can't afford to bully China. Our own Will Jackson has written up his key takeouts from Finology Summit, and Michael Furey looks at the evidence of a link between Australian economic growth and equity market returns. And finally, we feature the WEF's founder, Klaus Schwab, on the impact of the fourth industrial revolution on how we will live, work and relate with one another.

    Graham Rich, Publisher, PortfolioConstruction Forum | 24-02-17 | Forum Fodder
  23. Finology Summit 2017 - The winds of change - key takeouts

    Finology Summit 2017 focused on how "The winds of change" are affecting how investors think and behave with respect to money, and how we can better to relate with them. Here are our key takeouts.

    Will Jackson, PortfolioConstruction Forum | 23-02-17 | Key Takeouts
  24. Markets Summit 2017 - The winds of change - key takeouts

    Markets Summit 2017 delivered 20+ high conviction ideas on how the winds of change are affecting the outlook for economies and asset classes - and the implications for portfolios. Here are our key takeouts.

    Will Jackson, PortfolioConstruction Forum | 17-02-17 | Key Takeouts
  25. The winds have changed

    The tectonic plates of the political and economic landscape are rupturing. Brace yourselves for a wild and entertaining ride...

    Jonathan Pain, The Pain Report | 14-02-17 | 0.25 CE | 1 comment | Resources
  26. Winds have changed

    The tectonic plates of the political and economic landscape are rupturing. Brace yourselves for a wild and entertaining ride...

    Jonathan Pain, The Pain Report | 14-02-17 | 0.25 CE | Resources
  27. Now is the time to accumulate duration

    As 2017 began, there was (once again) an air of optimism that interest rates are about to return to normal. This optimism dismisses the significant structural headwinds that are prevalent.

    Brett Lewthwaite, Macquarie Investment Management | 14-02-17 | 0.25 CE | 3 comments | Resources
  28. There are 4 fundamental decisions to make now for portfolios

    When positioning a multi-asset, portfolio for the medium-term, there are four fundamental decisions we must make now. They are, in some cases, interdependent.

    Tim Farrelly, farrelly's | 14-02-17 | 0.25 CE | Resources
  29. The hunt for yield is over

    Money velocity is accelerating in the US and UK, as commercial banks rediscover their appetite for risk and the two economies continue to normalise. The shift has significant implications for asset allocators.

    Chris Watling, Longview Economics | 14-02-17 | 2 comments | Opinion
  30. Don't confuse the winds of change with "hot air"

    The biggest portfolio risk in 2017 will be over confidence in assigning scenario probabilities. Don't confuse the winds of change with "hot air" when it comes to portfolio construction.

    Robert Mead, PIMCO | 14-02-17 | 0.25 CE | Resources
  31. Panel: The winds of change

    Partners Group's Charles Dallara, Lazard's Ron Temple, and Magellan's Hamish Douglass debate the winds of change sweeping through the global economy and equity markets.

    Panel | 14-02-17 | 0.25 CE | Resources
  32. Don't confuse winds of change with "hot air"

    The biggest portfolio risk in 2017 will be over confidence in assigning scenario probabilities. Don't confuse the winds of change with "hot air" when it comes to portfolio construction.

    Robert Mead, PIMCO | 14-02-17 | 0.25 CE | Resources
  33. Trump the game changer - the only certainty now is uncertainty

    2017 will present many risks and opportunities, as the winds of change sweep through the global economy and markets. Geopolitics will dominate. The only certainty for 2017 is uncertainty.

    Stephen Halmarick, Colonial First State Global Asset Management | 14-02-17 | 0.25 CE | 3 comments | Resources
  34. Backgrounder: 5 Megatrends driving portfolio construction

    In 2002, we embarked on a quest to identify the secular forces which would substantially influence markets over the coming decade. We proposed five megatrends - which still drive portfolio construction today.

    Will Jackson, PortfolioConstruction Forum | 13-02-17 | Backgrounder
  35. Forum Fodder NZ 03 Feb 2017

    In our first Fodder for the year, Jonathan Pain makes the case that 2017 is a year politics really matters to investing, while Mohamed El-Erian is on the same wave length. Dr Bob Gay gives his unique insider's view of what will cause the US Fed to raise rates, when and by how much. Michael Kitces explains how to properly integrate two dimensions of risk profiling into portfolios (don't use a simplistic questionnaire!). Lastly, our own Will Jackson reports on the hot topics debated by the group of 10 senior fund analysts on our Research Roundtable International program.

    Graham Rich, Publisher, PortfolioConstruction Forum NZ | 03-02-17 | Forum Fodder NZ
  36. Forum Fodder 03 Feb 2017

    In our first Fodder for the year, Jonathan Pain makes the case that 2017 is a year politics really matters to investing, while Mohamed El-Erian is on the same wave length. Dr Bob Gay gives his unique insider's view of what will cause the US Fed to raise rates, when and by how much. Michael Kitces explains how to properly integrate two dimensions of risk profiling into portfolios (don't use a simplistic questionnaire!). Lastly, our own Will Jackson reports on the hot topics debated by the group of 10 senior fund analysts on our Research Roundtable International program.

    Graham Rich, Publisher, PortfolioConstruction Forum | 03-02-17 | Forum Fodder
  37. Research Roundtable International 2016 - key takeouts

    Put 10 senior Australian fund analysts on an eight-day CE program to the west coast of the USA? Inevitably, the group debated their views on many issues.

    Will Jackson, PortfolioConstruction Forum | 02-02-17 | 2 comments | Key Takeouts
  38. A two-dimensional risk tolerance assessment process

    Beware using risk tolerance assessment tools that blend risk tolerance and risk capacity into a single result. The two need to be measured separately.

    Michael Kitces, Nerd's Eye View | 30-01-17 | 2 comments | White paper
  39. Does political analysis matter when investing?

    Should we just keep our heads down and treat political events as nothing more than noise? 2017 is going to be a year when politics does matter. In fact, it always has.

    Jonathan Pain, The Pain Report | 28-01-17 | Opinion