For all the wisdom of four centuries of investing, not much has changed in financial markets. Boom and bust cycles still exist and speculation is higher than ever. But the Prudent Man Rule from 1830 can serve as a useful anchor for investors.

Longer-term assessments of risk and potential returns will always underpin the construction of multi-asset or diversified portfolios. However, context matters.

It seems sensible to make investment managers accountable by requiring them to perform relative to a benchmark. But this kind of motivation has a perverse effect.

The benefits of long-term investing extend beyond just being able to invest in illiquid assets. Patience can pay its own dividend. The challenge is holding at bay the relentless pressures to respond and deliver over the short term.

This panel debated the high conviction thesis that the key geopolitical risk of the times is tension between China, the US and South East Asian countries, as well as the impact of the US election on markets.

Geopolitical tensions between China, the US, and countries of South East Asia are growing. Most investors dismiss the region as a risk. But we are at a precipice of a left-tail risk event.

There has never been a more divisive US election season than the one we are witnessing right now. While the rhetoric and opinion polls are captivating on a weekly basis, the long game is what matters.

It is easy to assume that leadership (or a lack thereof) only occurs in upper level, high status positions. The long and short of this premise needs to be scrutinised. We must recalibrate our thinking.

Markets are volatile and events are unprecedented – or at least that’s what we’re told and have been conditioned to believe. Times and markets are volatile, but they always have been and they always will be.

Australian banks face a number of headwinds - they are real, but could better be described as zephyrs. The market has overreacted. Buy the banks.

It is possible to generate high returns with low risk irrespective of where short-term cash rates or long-term government bond yields may be.

Many SMSF portfolios are inefficient - creating an opportunity to either increase returns for the current level of risk or reduce risk to achieve existing returns over the shorter term.

Finding patterns in data to make money in falling or rising markets relies on an empirical, skeptical, scientific mindset to identify signals.

Listed and unlisted infrastructure investment are complimentary ways to access the same underlying cash flows. But varying investor time horizons impact the investment returns both targeted and achieved.

Increasing equity exposure for retirees does not have to be a daunting move. Breaking down the index shows that income and not capital has been doing the heavy lifting over the longer term.

The active versus passive debate is being displaced by active versus smart beta. Active managers need to demonstrate that their investment philosophy is designed to exploit inefficiencies that are sustainable over time.

As an investor, allowing yourself to be distracted by quick interpretation of market dynamics will lead to poor allocation decisions. Ultimately, fundamentals will win out for long-term investors.

Demographic trends give a solid basis from which to forecast beyond the usual two-year time horizon. Demographic layering of equity investment decisions can be a powerful structural growth tool as well as a strong risk mitigator.

Finance principles tell investors to buy good companies at attractive prices and they should perform over the long term. But what worked last century won't necessarily stand true this century.

Rapid technological innovation, affordable communication, and demographic shifts are reshaping the world. The traditional country/regional approach to asset allocation is not optimal for capturing these new opportunities.