Forum Fodder | Friday 22 June 2018
Education is our passport to the future, for tomorrow belongs to the people who prepared for it today. - Malcolm X
All the best for another week's continuing education!
- Graham

UPCOMING LIVE CE...

Philosophy | Markets | Strategies | Investing | Finology
Strategies Conference 2018 - "Future-proof portfolios?"
Portfolio construction is an exercise in long-term thinking, seeking to meet the distant future financial needs of individuals. Strategies Conference 2018 will facilitate debate on a selection of contemporary and emerging portfolio construction strategies, with particular emphasis on the challenges of building future-proof portfolios.
22-23 August 2018 | Register now!

Finology
Webinar: Which of your clients will cheat on their savings? Inside your clients' time and spending preferences
When to retire? How much to save? It’s where clients often show the greatest "say-do" gap. Professor Shachar Kariv will show how simple decision games can reveal insights about your client's true time preferences, their willpower and their likelihood to stick to spending and savings plans.
12pm-1pm AEST 3 July 2018 | Register now!

LATEST ONLINE CE...

Markets
Are we in a corporate debt bubble?
Since the GFC, the value of non-financial companies' outstanding bonds has nearly tripled. While a correction seems likely, the broad shift toward bond financing is actually a welcome development.
Susan Lund, McKinsey & Company | More

Markets
Don't write off America
To paraphrase Mark Twain, reports of America’s retreat are greatly exaggerated. Even if China can sort out its long-term demographic problems, other big challenges loom.
Tom Switzer, The Centre for Independent Studies | More

Strategies | Investing
A few investment selection faux pas
Over the years, I've seen countless portfolios. Virtually all have had a pre-defined asset allocation aligned to a risk profile. But occasionally, that's where the alignment ended.
Michael Furey, Delta Research & Advisory | More

Strategies
Most retirees need to eat capital
There is often confusion about income in retirement. In most cases, some income measures won't give retirees enough to spend, resulting in a lower standard of living than they could be enjoying..
Aaron Minney, Challenger | More

Finology
Beware the trifecta of desire
Practitioners demand a trifecta from fund managers - performance, simplicity, connection. But many great investments are contrarian and uncomfortable.
Douglas Isles, Platinum Asset Management | 1.00 CE | More

Markets | Investing
Netflix will be the next dominant digital business
New means test rules for pooled lifetime income products, together with development of Comprehensive Income Products for Retirement (CIPRs), have the potential to radically alter Australians' views about retirement income products.
Nick Griffin, Munro Partners | More

QT - simple!
Tim is guilty of arriving at his preferred destination, on time and all set for the next journey...
Philip Carmen | More

RECENT ONLINE CE...

Markets
Beware Quantitative Tightening!
Quantitative Tightening is jangling the nerves of investors around the world. It's unprecedented and no-one knows for sure exactly how it will play out. But all the evidence points to QT being a non-event.
Tim Farrelly, farrelly's | More

Markets
Can the Euro be saved?
The euro was supposed to bring shared prosperity, which would enhance solidarity and advance the goal of European integration. In fact, it has done just the opposite, slowing growth and sowing discord.
Joseph Stiglitz, Columbia University | More

Finology
Research Review: Biases in recommendations
Two recent academic papers focus on how advice provided to investors might be distorted. The first relates to the disposition effect; the second looks at the impact compensation on advice given.
Ron Bird, UTS | 1.00 CE | More

Markets
Italy, tariffs are sideshows – the US is the main story
With US unemployment running at just 3.8% (equal lowest rate since 1969), the Fed will have to hike rates four times this year, with the risk that bond yields go not just to 3.5% but somewhere well north.
Brett Gillespie, Ellerston Capital | More

A Contrary View?
There is no price too large for the EU to pay to maintain the status quo, that is, their own survival... We need more populism, not less...
Garry Harradence | More

From asset allocation to risk allocation
Good topic to cover… thinking about gaps between the asset allocation process and security selection process. Surprised there isn’t more analysis or discussion along these lines...
Peter Eichmann, Park Street Group | More

Thanks, Peter
...I'm a little surprised myself although there are numerous quant and large asset managers who do produce a fair amount of analysis and publication along the lines of both dimensions.
Michael Furey, Delta Research & Advisory | More

Markets
The old allure of new money
There are now nearly 2,000 cryptocurrencies, and millions of people worldwide are excited by them. As with past monetary innovations, a compelling story may not be enough.
Robert J. Shiller, Yale University | More

Strategies | Investing
Will longevity products now become attractive?
New means test rules for pooled lifetime income products, together with development of Comprehensive Income Products for Retirement (CIPRs), have the potential to radically alter Australians' views about retirement income products.
David Knox, Mercer | More

Finology
Successful practitioners are caring practitioners
"Nobody cares how much you know, until they know how much you care,” cautioned Theodore Roosevelt. This is especially true when risk is involved.
Herman Brodie, Prospecta Limited | 0.25 CE | More

Markets | Strategies
Cash is the alternative asset class
Many asset classes - such as real estate and infrastructure - face the same valuation headwinds as equities and bonds. Practitioners should consider using cash as the diversifier for multi-asset portfolios.
Sonja Laud, Fidelity International | More

Markets | Strategies
Markets creak as yields creep higher
Calm returned to global stock markets in May. But investors should not be lulled into a false sense of security. Equities and bonds face considerable headwinds as the Fed continues to tighten. This is not the time to be invested in overpriced assets.
Brett Gillespie, Ellerston Capital | More

Markets
Donald Trump’s Normal Fed
In a presidency that's shown little regard for conventional institutional norms, how can one explain Donald Trump's completely reasonable appointments to the Federal Reserve Board?
Kenneth Rogoff, Harvard University | More

Strategies | Investing
Research Review: More on momentum investing
Eugene Fama described momentum investing as the one remaining market anomaly. A recent paper gives an explanation for it. Another shows it still offers high profits after costs.
Ron Bird, UTS | 1.00 CE | More

Markets | Investing
Do stocks outperform Treasury bills?
It is generally accepted that stocks provide long-term outperformance over cash. However, a recent academic research paper reveals this is not the case for the majority of stocks since 1926.
Nick Griffin, Munro Partners | 1.00 CE | More

Strategies | Finology
The difference for advice in retirement
Many baby boomers are now retiring with decent super balances and need advice on how to manage (spend) their retirement savings appropriately.
Aaron Minney, Challenger | More

Finology
Robo-advisors are NOT the future (but technology is)
Robo-advisors have been the big buzz as replacement humans, but they’re not (and data proves it). Technology alone is not enough (or everyone with a FitBit on their wrist would be healthy).
Michael Kitces, Nerd's Eye View | 0.50 CE | More

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