Forum Fodder | Friday 13 March 2020
It is what we think we know already that often prevents us from learning.
- Claude Bernard (1813-1878).
All the best for another week's continuing education! - Graham

LATEST ONLINE CE...

Markets
A short story about black swans at dawn
The market has now woken up to the size of the traumatic shock to the global economy, which just hit a massive air pocket. In the next few weeks, financial markets and the broad capital markets will come under severe stress. How does this end?
Jonathan Pain, The Pain Report | More

Markets
More on the coronavirus crisis and the markets
Two weeks ago as the coronavirus crisis began to unfold, I warned that the market could soon drop to 17,500 on the Dow. One very important form of investor ignorance today concerns the market's view that it is prospects for corporate earnings that will matter most. This is wrong.
Woody Brock, SED | More

Markets
Coronanomics 101
The G7 has vowed to use "all appropriate policy tools" to contain the economic threat posed by the COVID-19 coronavirus. That should include those wielded by medical practitioners and epidemiologists.
Barry Eichengreen, University of California | More

Markets
Super Tuesday - what happened, what’s next
Joe Bidden had a fantastic night on Super Tuesday and he could be the Democratic Nominee - but a lot can change over the next month. Meanwhile, trade relations between the US and China may falter if China struggles to honour its commitments due to a weak economy.
Libby Cantrill, PIMCO | More

Finology
Research Review: Financial self-awareness and decision making
Financial decisions are among the most important life-shaping decisions we make. Two recent research papers provide further evidence as to how practitioners can help improve clients' financial decisions.
Ron Bird, Investment Management Research Program | 1.00 CE | More

UPCOMING FACE-TO-FACE CE...

Certified Investment Management Analyst^® (CIMA^®)
Are you involved in any aspect of constructing multi-manager portfolios?
CIMA certification is the peak, international technical portfolio construction certification program designed for investment management analysts – that is, those involved in any aspect of constructing multi-manager portfolios, whether practitioner or advocate. Stand for more - more knowledge, skill and expertise - with CIMA certification.
Find out more and enrol now!

Save the Date!
Mark Your Diary now for the following continuing education programs
March 2020
- farrelly's User Group (18 Mar - Webinar)
- farrelly's User Group (24 Mar - Webinar)
August 2020
- Strategies Conference (19-20 Aug, Sydney)
We'll email you when registration opens...

RECENT ONLINE CE...

Markets
When China sneezes
The world economy was weak, and getting weaker, when COVID-19 struck - and it has brought the Chinese economy to a virtual standstill. China's sneeze may prove to be especially vexing for long-complacent financial markets.
Stephen Roach, Yale University | More

Markets | As seen at Portfolio Construction Forum Markets Summit 2020
The black swan VUCA has arrived
Coronavirus represents a Black Swan event, the economic shock of which to China will reverberate around the world, thereby amplifying and exposing global economic weaknesses.
Jonathan Pain, The Pain Report | 0.25 CE | More

Markets
The impact of the C-virus
The new virus is an "unknowable unknown" of the first order. Should the virus turn into an epidemic, all Americans will alter their behavior, such that an outright recession could result.
Woody Brock, SED | More

Philosophy | Markets | Finology
Economics has come full circle
Classical economists often incorporated human behaviour into their thinking. But in the 1960s and 1970s, homo economicus - the great rational agent of economic theory - was born. It was not until the 1990s that the link between human behaviour and economics began to be re-established.
Herman Brodie, Prospecta | More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Complacency kills - the party is over for growth investing
The world economy is operating dangerously close to stall speed. Ever-present shocks and a sharply diminished trade cushion raise serious questions about financial markets' optimistic view of global economic prospects.
Charles Dalziell, Orbis Investment Advisory | 0.50 CE | More

Markets
A global economy without a cushion
The world economy is operating dangerously close to stall speed. Ever-present shocks and a sharply diminished trade cushion raise serious questions about financial markets' optimistic view of global economic prospects.
Stephen Roach, Yale University | More

Markets | Strategies | As seen at Portfolio Construction Forum Strategies Conference 2019
Global equities' risk requires a different perspective
Moving into the 2020s, global equity portfolios should be concentrated and highly selective, positioned to address both fundamental changes in the global backdrop and vulnerabilities in the successful styles of recent years.
Ashley Pittard, Pendal Group | 0.25 CE | More

Markets | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Vision matters – but so does implementation
Portfolio managers don't have perfect vision. Better prediction accuracy results in more concentrated portfolios, higher turnover, higher position limits and higher returns and information ratios.
Jim Creighton, Ironbark Longreach HQI | 0.50 CE | More

Strategies | Investing | As seen at Portfolio Construction Forum Strategies Conference 2019
Volatility is a source of income
In times of lower growth and falling interest rates, volatility strategies can be used to produce a steady stream of income to complement other sources of returns.
Nick Seeto, Regal Funds Management | 0.50 CE | More

Finology
Research Review: Financial self-awareness and decision making
Financial decisions are among the most important life-shaping decisions we make. Two recent research papers provide further evidence as to how practitioners can help improve clients' financial decisions.
Ron Bird, Investment Management Research Program | 1.00 CE | More

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