If one of the outcomes of the Royal Commission is for Australian banks to be required to strengthen their lending standards, it could cause housing credit growth to slow significantly, perhaps resulting in a credit crunch, Whitehelm Capital saysMore Details
Do factors have explanatory power in investment returns or are they merely descriptive? This is an important difference because the first characteristic would give them predictive powers, while the second would merely reflect past performance. In this second part on trait psychology, MarketFox columnist Daniel Grioli looks for clues in criticism of this branch of psychology.More Details
Marco Polo believed in unicorns and went looking for them in his trips to Asia. When he finally came across an animal that fitted his conception of having a horn on his head – a rhinoceros – he was bound by his paradigm and convinced that the mystical animal was sighted.More Details
Investors know from experience that exceeding the limitations of an equity strategy’s capacity will ultimately destroy much of the generated alpha. But when constraints are put in place, whether they are hard or soft closes, the limitations are often rather fluid in nature. At this luncheon, Geoff Warren, Associate Professor at the Australian National University, […]More Details
Is this time different? The dragonfly is often represented as an agent of change, with its agility reflected in its ability to move comfortably on land, water or air. That symbol of change is further reflected in the search for a deeper meaning “beyond the surface”, as exemplified by the insect’s scurrying flight across the […]More Details
"He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants."
Friedrich August von Hayek