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Rob Prugue

The moral hazard of a national super fund

If billions of dollars of retirement savings were lost by a government agency in a national super scheme, the cost and risk would be passed back to the government and ‘caveat emptor’ would be history.

Five rules for a market professional's manifesto

With the Royal Commission Final Report a week away, and a new year stretching ahead of us, it's time for all market professionals to decide what they stand for, and call out bad behaviour that affects everyone.

Rob Prugue’s spiritual super journey

After decades of intense work in financial markets, including Asia-wide responsibilities, a sabbatical walk along Spain's Camino led to an unexpected mix of superannuation insights and dealing with death.

Tension as diversified portfolios have lost their anchor

With the strongest defensive assets earning close to zero and negative real returns, investors are looking at other ways to shock-proof their portfolios, but it invariably means taking on more risk.

Passive investment – an unwitting oxymoron

Making a passive investment requires an active decision, and since index-based funds are structured using market prices, they build in influences of the active factor of price momentum.

The opportunity cost of low fee structures

Beware the investor who knows the price of everything but the value of nothing. While fees are important, fund managers should ultimately be evaluated based on their ability to add value to a portfolio.

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Alternative investments

What to do when your collectibles become collapsibles

Collectibles are everywhere, from old cars, to sneakers, to wine, to cards and anything old and prized. But even if a collectible once attracted thousands of followers, what happens when the fans lose interest?

Financial planning

Compound interest rewards patience in an impatient world

Let compounding do its work. It starts slowly. This is why many of those who start an investment programme (or fitness programme, dietary change, sport, or business) give up in the early stages.

Shares

How did you go? Australian and global stockmarket winners and losers

The Australian market overall finished flat for calendar 2020, but the pandemic delivered big wins and losses. The companies, sectors and companies you invested in delivered vastly different results.

Investment strategies

What is endowment-style investing and who should use it?

For investors who have the scale, long-term investment horizon and lack of liquidity requirements, it makes sense to implement an asset allocation that can take advantage of a lack of constraints.

Investment strategies

Five ways to build investment portfolios amid growing inequality

At the start of the 20th century, a 'Gilded Age' for plutocrats created vast fortunes and economic inequality surged. COVID is having the same impact now, but portfolios can be adapted to respond to the opportunities.

Investment strategies

The hazards of asset allocation in a late-stage major bubble

The Grantham article everyone is quoting, in full. "The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble ... this could very well be the most important event of your investing lives."

Investment strategies

Best and worst performing equity funds of 2020

Growth was the place to be through the pandemic while value managers couldn't catch a break. It's the long run that matters but 2020 delivered pleasure or pain for many managers.

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