Following is a list of Markets articles published on PortfolioConstruction Forum throughout 2003...
Contrary to popular wisdom, Australia's agricultural sector is not a burnt out, sunset industry, said Dr Bruce Kefford, executive director agriculture with the Victoria Department of Primary Industries, speaking at the recent Lonsec Agribusiness Conference...
While most financial advisers at a recent Lonsec workshop on agribusiness agreed that agribusiness can play an important role in portfolios, they also expressed that there are many downsides to the current crop of agribusiness offerings available to retail investors, and that many offerings simply don't meet their client's needs...
How does agribusiness perform when compared with other asset classes? It was the hot question of the day at the recent Lonsec Agribusiness Conference...
For the first three quarters of the year, the Nikkei Index is up 19 per cent. Is the Japanese market beginning to turn around, or is it another false start?
Asian funds have been getting a fair bit of attention lately, which is hardly surprising with six-month returns of 20% to 30%. Many commentators expect Asia to stay on the boil, but there's varying among fund managers active in region as to which regions, countries, and sectors hold the most promise...
From its low point of October 2002, the technology sector (as measured by the NASDAQ) has recoded a rise of 70 per cent. So when AMP Henderson Global Investor's head of investment strategy, Shane Oliver says technology stocks have been the star performer this year, it is something of an understatement. The real question is: can that performance be repeated going forward?
Delegate feedback from our second annual conference - THE Investment Conference 2003 on 18/19 August 2003 in Sydney - was very, very positive. And with 50 investment experts presenting during 30 sessions over the two days, it was in the words on one delegate "no junket". Critical Issues Forum presentations can be accessed via this article...
Most of us hear "property" and think "listed". At THE Investment Conference 2003 (18/19 August 2003), we devoted a session to challenging this assumption. Is listed property really an asset class? What diversification does it provide in a portfolio? And if it's so great, why don't researchers and fund managers allocate more to it? Fund managers have begun going offshore for property - what benefits does that bring to a portfolio?...
As our opening keynote at THE Investment Conference 2003 (18/19 August 2003), we asked Don Stammer, independent chairman of the PC Forum Asset Allocation Board, to provide a context for our two day program, by looking ahead to 2010 and hypothesising as to what the global economic landscape will look like, identifying the big political, social and economic trends ahead, and describing what they mean in terms of positioning portfolios today for the future...
Most asset allocation processes require you to decide asset class returns and volatility. In a (increasingly heated!) debate at THE Investment Conference 2003 (18/19 August 2003), carefully selected investment experts "dropped their trousers" and showed us their income, growth, and total returns expectations over the next year, and the risks to them...
Most managers shy away from forecasting currencies - but for a session at THE Investment Conference 2003 (18/19 August 2003), we uncovered a few brave souls who were willing to put their necks on the block, addressing issues like "can the A$ keep going up, and if so, how much?", "Is the US$ losing its supremacy, and what effect would this have on world markets?" and "Which currencies may emerge in its place?"...
This was the standout, most popular session of THE Investment Conference 2003 presented by PC Forum on 18/19 August 2003, earning a stunning 4.7 out of 5.0 average rating across all delegates. As our day 2 opening keynote, independent strategist Jonathan Pain looked at investment theory, its history, its relevance and what current valuation models imply for future returns. He argued we need to radically alter the way we construct portfolios, if we are to build portfolios that are in our client's best interests - and then walked us through what this means for the conventional asset management model...
"The economics are good, it’s the psychology that’s bad," said Dr. Robert Goodman, Senior Economic Advisor at Putnam in Boston U.S in his wide-ranging presentation at the recent BT Financial Group Leaders Forum 2003 in which he concluded that "a bidding war is about to break open among companies using dividends as a way to bribe back shareholders." If you missed Dr Bob's presentation, following is an edited transcript...
“Equities are undervalued due, in part, to the misvaluation between equities and bonds,” said Paul Bagnoli, Director of value manager Bernstein's International Product Development, speaking to advisers at last week's 2003 AXA Expo. Predicting that this so-called misvaluation between equities and bonds will result in a 9% return from the US equity market over the next year, he added “we can justify this modest prediction”...
The U.S. is the only driver of the world economy, contended Robert Gottliebsen, National Business Commentator for The Australian, speaking at last week's 2003 AXA Expo. And in his view, the housing effect is the single biggest reason Australia came out less scathed then the US in recent financial times...
With the risk of war in Iraq at very high levels, Dr Don Stammer, the Portfolio Construction Forum Asset Allocation Board's independent chairman, shares his thoughts about the similarities and differences to the 1991 Gulf War, and how the global economy is affected by the threat and actuality of a war in the Middle East.
The global economy is at an inflection point that continues to produce a favourable US bond environment, according to Doug Hodge, Executive Vice-President of PIMCO, speaking at last week's FEAL February 2003 Briefing Series. The difference this time, he contends, is that US policy makers get it. They have the will to combat deflationary risks, with Japan as an example.
Inflation has long been the scourge of Central banks everywhere, but ever since Alan Greenspan used the ‘d’ word last September, deflation has replaced inflation as the spectre troubling economic policy makers.