Last year was a volatile year for fixed income investors and there is no reason to assume it will be different in 2019. Financial markets are moving from an unusually supportive environment to a more volatile one of slower growth, reduced liquidity, and heightened political risk. In the US, the Federal Reserve continued to hike […]

In “The Major Economic Cycles (1925)” written by Soviet economist Nikolai Kondratieff, recessions have been usually been associated with winter. There is strong consensus that markets are in late cycle mode, with storm clouds for the next recession gathering steam.

Flamingos are known for their penchant for standing on one leg. A GeorgiaTech research revealed that flamingos could passively and stably support their body weight on one leg without any conscious effort. In contrast, they need to use more muscles when standing on two legs.

Ancient Greeks believed that the flesh of a peacock did not decay after death, so it became a symbol of immortality. While immortality is often sought after by monarchs as well as the rich and powerful, longevity risk is a real problem for the lay person in the Australian superannuation system. This is compounded by […]

The secular changes in the investment environment, coupled with late cycle concerns, have prompted investors to diversify away from reliance on the equity risk premium and fixed income returns, while securing stable income and building inflation protection. This has strengthened the case for increased exposure to property as an asset class.