Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 339

Interview Series eBook, investing insights from global experts

Extract of Graham Hand's introduction

During 2019, Firstlinks embarked on a series of interviews to learn more about the investment techniques of many of Australia's leading asset managers. Investors should know the people they trust their money with.

We realised these discussions were a rich store of knowledge, and we have compiled them into a free ebook.

But we also recognised some of the best interviews came as early as 2013 in meetings with global experts, some of the most famous people in wealth management.

So it’s fitting that we should start the Interview Series with Nobel Laureate, Harry Markowitz, who was born in 1927 and is now 92 years-of-age. Markowitz was only 22 when he realised that an efficient portfolio should maximise the expected return on assets for a given level of risk. Although a theoretical framework, his Modern Portfolio Theory has been taught to investors for almost 70 years. Like most of the best insights, it is a simple idea, focussing on risk and return trade-offs.

Markowitz told me he started in securities analysis by accident.

“I was a PhD candidate at the University of Chicago and had to choose a topic, so I went to see my supervisor, Professor Jacob Marschak. He was busy so I sat in this ante room, and another man was there who was a broker. He suggested a dissertation on the stock market. That's the best advice a broker has ever given me.”

In the 30 interviews in this ebook, we uncover many of the secrets that investment managers have taken decades to learn. We feature globally renowned experts such as Burton Malkiel, Sir Michael Hintze, Professor Elroy Dimson, Robert Kitces and Nobel Laureate Robert Merton, as well as high-profile local fund managers covering every asset class.

We can all benefit from this vast experience. As Markowitz said, paraphrasing Sir Isaac Newton, “I saw so far because I stood on the shoulders of giants.

 


Managing Editor Graham Hand with Harry Markowitz (left), Nobel Laureate and father of Modern Portfolio Theory, and Burton Malkiel (right), author of global bestseller, ‘A Random Walk Down Wall Street’ in San Diego, USA in 2013.

 

For all readers of Firstlinks, there's no catch, no hidden charges, no need to sign up. 

Click here to download the free Interview Series ebook

 

banner

Most viewed in recent weeks

Lessons when a fund manager of the year is down 25%

Every successful fund manager suffers periods of underperformance, and investors who jump from fund to fund chasing results are likely to do badly. Selecting a manager is a long-term decision but what else?

2022 election survey results: disillusion and disappointment

In almost 1,000 responses, our readers differ in voting intentions versus polling of the general population, but they have little doubt who will win and there is widespread disappointment with our politics.

Now you can earn 5% on bonds but stay with quality

Conservative investors who want the greater capital security of bonds can now lock in 5% but they should stay at the higher end of credit quality. Rises in rates and defaults mean it's not as easy as it looks.

30 ETFs in one ecosystem but is there a favourite?

In the last decade, ETFs have become a mainstay of many portfolios, with broad market access to most asset types, as well as a wide array of sectors and themes. Is there a favourite of a CEO who oversees 30 funds?

Meg on SMSFs – More on future-proofing your fund

Single-member SMSFs face challenges where the eventual beneficiaries (or support team in the event of incapacity) will be the member’s adult children. Even worse, what happens if one or more of the children live overseas?

Betting markets as election predictors

Believe it or not, betting agencies are in the business of making money, not predicting outcomes. Is there anything we can learn from the current odds on the election results?

Latest Updates

Superannuation

'It’s your money' schemes transfer super from young to old

Policy proposals allow young people to access their super for a home bought from older people who put the money back into super. It helps some first buyers into a home earlier but it may push up prices.

Investment strategies

Rising recession risk and what it means for your portfolio

In this environment, safe-haven assets like Government bonds act as a diversifier given the uncorrelated nature to equities during periods of risk-off, while offering a yield above term deposit rates.

Investment strategies

‘Multidiscipline’: the secret of Bezos' and Buffett’s wild success

A key attribute of great investors is the ability to abstract away the specifics of a particular domain, leaving only the important underlying principles upon which great investments can be made.

Superannuation

Keep mandatory super pension drawdowns halved

The Transfer Balance Cap limits the tax concessions available in super pension funds, removing the need for large, compulsory drawdowns. Plus there are no requirements to draw money out of an accumulation fund.

Shares

Confession season is upon us: What’s next for equity markets

Companies tend to pre-position weak results ahead of 30 June, leading to earnings downgrades. The next two months will be critical for investors as a shift from ‘great expectations’ to ‘clear explanations’ gets underway.

Economy

Australia, the Lucky Country again?

We may have been extremely unlucky with the unforgiving weather plaguing the East Coast of Australia this year. However, on the economic front we are by many measures in a strong position relative to the rest of the world.

Exchange traded products

LIC discounts widening with the market sell-off

Discounts on LICs and LITs vary with market conditions, and many prominent managers have seen the value of their assets fall as well as discount widen. There may be opportunities for gains if discounts narrow.

Sponsors

Alliances

© 2022 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. Any general advice or ‘regulated financial advice’ under New Zealand law has been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. For more information refer to our Financial Services Guide (AU) and Financial Advice Provider Disclosure Statement (NZ). You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.

Website Development by Master Publisher.