Forum Fodder | Friday 03 May 2019
Learning is like rowing upstream: not to advance is to drop back - Chinese proverb
All the best for another week's continuing education! 
- Graham

LATEST ONLINE CE...

Markets
Goldilocks growth
With Wall Street hitting all-time highs and the US economy certain to set a record in June 2019, the question now is whether this rebound will lead to a resumption of the bull market or turn out to be only a temporary bounce.
Anatole Kaletsky, GaveKal Draganomics | More

Markets
Markets Summit 2019 key takeouts
These are my key takeouts from Markets Summit 2019's Faculty of 25 leading investment thinkers from around the world who offered their high conviction ideas on the drivers of and outlook for the markets.
Robert Huebscher, Advisor Perspectives | More

Markets
China is not in crisis, it's reforming
China is frequently presented as a source of crisis or instability for the global economy. However, the picture is one of imperfection, not peril.
Julian McCormack, Platinum Asset Management | More

Finology
Applying behavioural finance in practice - part 1
Helping clients is about more than just educating them as to the right decision, it's also about helping them to actually take action.
Michael Kitces, Pinnacle Advisory Group | 0.75 CE | More

Finology
Portfolio design must evolve for the industry to survive
It is time to align client portfolios with the risks they face, founded in a language they understand. This requires a deep understanding and evidence-based approach to uncovering and forecasting client goals.
Wade Matterson, Milliman | 0.50 CE | More

Spend your capital
I don't believe that superannuation was designed to offer anything more than a comfortable retirement...
Angus McLeod | More

Missing the point of Tim's argument
To continue to provide franking credit refunds to an investor if they have their $1.6million in an industry fund, but no refund for an equivalent investor in a SMSF is an unbelievable attack on one particular form of superannuation...
Greig Meyer, PKF Wealth | More

UPCOMING LIVE CE...

Investment Management Research Workshop | 15 May 2019 | 5.5 CE hrs
Portfolio Longevity: Measuring, Managing and Monitoring
During the accumulation phase of the financial lifecycle, while investors are saving money for retirement, their portfolio is growing, and the concept of portfolio longevity is quite meaningless. Eventually though, peak-wealth is achieved. The portfolio then begins its natural and programmed decline as cash-flow withdrawals exceed investment gains. This Masterclass provides delegates with the computational skills required to measure, manage and monitor portfolio longevity and effectively ensure it exceeds human longevity.
Professor Moshe Milevsky | Register now!

RECENT ONLINE CE...

Markets
No middle-income trap for China
Yes, the days of 10% Chinese growth are over. That was inevitable. But there are five key reasons to dismiss the now-widespread diagnosis that China is ensnared in the middle-income trap.
Stephen Roach, Yale University | More

Investing
Research Review: What we need to know about fund managers
Most of us use funds in clients' portfolios. Three new research papers look at what differentiates fund managers, highlighting factors we probably never considered important.
Ron Bird, Investment Management Research Program | 1.00 CE | More

Finology
Cohesion is critical to investment management success
Stars are celebrated yet funds management is a team pursuit. Behavioural finance tends to focus on individuals' biases, but teams' behaviour determines results.
Douglas Isles, Platinum Asset Management | 0.50 CE | More

Markets
Stay invested but prepare for volatility
On some measures, global equity valuations are the most attractive in several years. Risks, however, have certainly increased and in many cases are more difficult to frame.
Ron Temple, Lazard Asset Management | 0.25 CE | More

Markets
Bond returns are competitive again
For the first time in about a decade, bonds can compete against equities on returns. High quality, investment grade corporate bonds can deliver mid-single digit returns for a third of the volatility of equities.
Mark Kiesel, PIMCO | More

Pippa Malmgren
30 mins listening to Pippa is priceless! Loved her book...
Steve Blaker, Logical Financial Management | More

Markets
Understanding the Fed's dovish turn
The US Federal Reserve surprised markets recently with a large and unexpected policy change. The new normal will be a US policy rate close to or just below 3%.
Nouriel Roubini, Roubini Macro Associates | More

Markets
China is reforming, not in crisis
Nearly a decade after one of the great debt binges of all time, Chinese economic growth and credit creation have slowed. Today, stimulus is being undertaken. This is not a crisis, this is reform.
Julian McCormack, Platinum Asset Management | 0.25 | More

Markets
Being the most trusted brand is essential in fiery times
The best chance for survival among what were regarded as the most defensive of stocks is to be the biggest, most revered brand – or at least hold number second spot. Others will struggle and many will disappear.
Vihari Ross, Magellan Asset Management | 0.25 | More

Finology
New Word Order - It's not what you say, it's what they hear
The way investors respond to the language of financial services can be influenced by using the right words, avoiding others, and structuring messages to overcome skepticism.
Gary DeMoss, Invesco Consulting | 0.50 CE | More

Markets | Investing
Climate change-related regulation
Compared to physical risks, investors have a much greater ability to incorporate carbon and related pollution regulations into investment decisions.
Colonial First State Global Asset Management | More

Refund of excess franking credits
$5.6bn a year... will make a huge difference to government revenue. Don't think people will suddenly shift their asset allocation strategy, as Tim suggests...
Clinton Clarke, Clarke Advisory Group | More

How much really?
Those who don't find a way to get the benefit of imputation should reduce their exposure to Australian equities. As you say - not all will on day one. But many will over time. More of the so called savings gone...
Tim Farrelly, farrelly's Investment Strategy | More

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