Michael

Author's details

Date registered: January 28, 2012

Latest posts

  1. Random Thoughts on Cryptocurrencies at a Random time of the year — December 31, 2022
  2. Investment Philosophy … a short primer — June 6, 2022
  3. A Few ESG Investment Thoughts — June 28, 2021
  4. Approaching the Zero bound — May 22, 2020
  5. Worry about Valuations??? … yeah, a bit … — April 24, 2020

Most commented posts

  1. The disappearing credit spread…US now at pre-GFC levels — 6 comments
  2. ASX200 to go through 5000!!! — 4 comments
  3. A Must Read on “The Economic State of Australia” — 4 comments
  4. Tonight should be a turning point…either way — 3 comments
  5. Asset Allocation that considers Asset Weighted Returns — 3 comments

Author's posts listings

Sep 16

Another terrible structured product!!!

Categories:

Structured Products

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Its been a little while since I took a close look at some of the structured products that are out there…they’ve been a little unpopular due to their poor general track record over the GFC period, although in their defence they did what they promised, its just very few actually knew what they promised! Anyway, …

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Aug 28

What is the Risk Free asset?

Categories:

Fixed Interest, Government Bonds, Inflation Linked Bonds, Interest Rates, Investment Strategy, Retirement Income

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This question is probably only important when establishing a base-line return expectation before we accept various type of investment risk. I guess we all know that technically there is no such thing as a Risk Free Asset but generally speaking it is widely believed that Cash is the risk free asset. Whilst I’m prepared to …

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Aug 24

Some outsourced thoughts on Bernanke

Categories:

Comedy

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Aug 15

RimSec August Research Update

Categories:

Currency, Economy, Fiscal Policy, Government Bonds, Interest Rates, Macroeconomics, Yield Curve

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I can’t believe its four weeks since my last post so obviously its been a terribly busy period. Anyway, something I have completed is a market/economic update and if anyone’s interested you can download it here. The update is probably consistent with what is being said everywhere…but either way… The mining investment boom is over …

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Jul 18

Surely the top Australian managers are “value” style…well, no!

Categories:

Equities, Managed Funds

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Source: Delta Research & Advisory The above chart shows the performance of the value risk factor, which is simply calculated as the performance of the MSCI Australian Value index minus the performance of the MSCI Australian Growth index. With an ending value great than 15% than the starting value, clearly the 2013 financial year was …

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Jul 18

Past performance is no indication of…

Categories:

Equities, Managed Funds

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  Source: Australian Financial Review The above table was published in yesterday’s Australian Financial Review (the sourced link takes you there but you may need a subscription) and Lazard Select Equity is the top performer over the last 12 months, and from the other funds in this table, its number one over the past 3 …

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Jul 12

Hedge Funds…not for the retail investor

Categories:

Comedy, Hedge Funds

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Source: Businessweek Plus their fees just make it hurt just that much more.      Send article as PDF   

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Jul 12

A fascinating correlation…and why the Aussie dollar may have declined

Categories:

Currency, Government Bonds, Yield Curve

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  Source: Delta Research & Advisory, RBA Firstly the red line represents the US dollar/Aussie Dollar (RH Axis), so as the chart shows the US Dollar has strengthened since around the middle of April (so you can ignore the AUD label). The other line is the difference in yield (or spread) between the Australian 10 …

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Jul 12

RIMSec July Research Report

Categories:

Economy, Equities, Fixed Interest, Government Bonds, Interest Rates, Investment Strategy, Macroeconomics, Yield Curve

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It has certainly been a while since I posted and, no, this blog is still active and hopefully I’ll be able to produce some good stuff sooner than later. Lots of analysis done, some interesting stuff too, just need the time to write it up. Anyway, I digress… I’ve just finished a short little Research …

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Jun 14

To find alpha, first define it

Categories:

Portfolio Construction

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A couple of months ago I presented at a Portfolio Construction Academy forum of around 70 financial planners and researchers about constructing investment portfolios and fund manager assessment using risk factors. From what I can tell the session went quite well and much to my relief the feedback was quite positive. Following the presentation I …

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