PortfolioConstruction Conference: Global investing
At this year’s PortfolioConstruction Conference (August 27-28), Bruce Stout, senior investment manager of global equities with Aberdeen Asset Management in the UK, will present a research paper on the seven sins of fundamental global investing to which fund managers often fall prey.
Some are seduced by macro noise and hype that can equally inflate or obscure sound investment opportunities. Other self-proclaimed active managers practice benchmark hugging, the cardinal sin of shadowing benchmarks.
This sin is manifested in the view that risk itself should be measured against the benchmark, rather than the absolute risk of investing in poor companies and losing clients’ money.
Active management then becomes a trading game, many positions with little information becomes a substitute for research and conviction.
Research papers from the PortfolioConstruction Conference will be available in the August edition of Money Management’s Technical Adviser.
Now in its seventh year, PortfolioConstruction Conference has earned a reputation as the investment conference of the year. To register, go to http://www.PortfolioConstruction.com.au/Conference
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