"Financial Analysts Journal " Three Recent ArticlesThis Review provides update information on three hopefully great topics, these being: 1/ ``Q Group Panel Discussion on Looking to the Future``, 2/ ``Conquering Misperceptions about Commodity Futures Investing``, and 3/``A Shiller CAPE Ratio: A New Look``. We have these based on three recent articles in the CFA Society ``Financial Analysts Journal``. As noted in this Review, we selected these for two main reasons: First, we find these are very good extensions of our previous InvestorLit Review topics, and Second, we have met and followed the authors of these articles as they are great and we very much admire and respect their work. We hope all of these topics are helpful to our Subscribers and as always, welcome any comments or questions. Membership Required.
“Updates on Review Topics”This Review provides update information on four topics, these being: 1/ Canadian Banks, 2/ Alternatives: US Private Equity, Hedge Funds, and Real Estate, 3/Oil and Gas Outlook, and finally, 4/Future Investment Conferences. As noted in previous Review updates, there are various reasons for updating these topics ranging from new information to simply updated status, and we have done various update Reviews like this in the past. Plus in this Review, we have added new topic: 4/ being a listing of Future Investment Conferences, which we hope our subscribers appreciate. We hope all of these topics are helpful to our Subscribers and as always, welcome any comments or questions. Membership Required.
“The Future of Pension Management” by Keith AmbachtsheerThis is a Review of Keith Ambachtsheer’s very good 2016 book: “The Future of Pension Management – Integrating Design, Governance, and Investing”. In our Review we begin with a history of the author, his accomplishments, and former books. We then proceed with a discussion of the book’s four parts, called: “Touchstones”, “Pension Design”, “Pension Governance”, and “Pension Investing”. And finally we add reference to another review of this book by a very good Brandes Institute friend of mine – Barry Gillman – who wrote a great review of this book recently for the CFA Society’s “Financial Analysts Journal”. Membership Required.
Notes on “Fortune 500”This is a Review of the very good latest June 15, 2016 issue of “Fortune” magazine, specifically the annual “Fortune 500” issue, which is about the ranking of the US’s 500 largest companies. It is the 62nd anniversary of Fortune’s 500 listing and after our Review in June 2014, total profits of this group have again exceeded $1Trillion. In this Review we provide notes on ten articles, all of which can be found online and we provide access to Fortune’s online articles throughout this Review. Membership Required.
Berkshire Hathaway 2016 Annual MeetingThis is a Review of Warren Buffett’s Berkshire Hathaway 2016 Annual Meeting which long-time friend John Watson very kindly invited me to again this year, following 2014’s previous great invite. The meeting was truly a very impressive, memorable and educational event and I am very grateful for the opportunity to attend. John’s guests write notes and John assembles them as “Observations”. I have included these “Observations”, plus Summary of the 2016 Letter to Shareholders, and some Related Articles that came out in the press around the time of the meeting. Membership Required.
2016 Annual Spring Pension ConferenceThis Review is about the March 31, 2016 Annual Spring Pension Conference put on since about 2010 by the Portfolio Management Committee (the PMC) of the Toronto CFA Society. I am a Board Member of the TO CFA Society plus have been a Member of the PMC since 2010, including its Senior Advisor recently. In this Review, we first start by outlining the agenda of topics covered in the Conference, then summarize the presentations of the four speakers I invited this year. We would be able to share more details of the presentations should our readers request, plus offer contacts to speakers should our readers wish. Membership Required.
Oil Update“Oil Update” This Review is an update of the previous Shale Oil Update`` written in 2015(2). Since then oil prices have declined from about $50 then to the $30s per barrel range and considerably reduced the economics of shale oil drilling. In this review we cite several studies on future oil prices and find expected oil prices are in a generally increasing mode. We also discuss various related topics including: the economics of shale oil production and oil sands production, climate change’s impact on oil, and Saudi Arabia’s plus other world producers’ expected oil production. Overall we agree that crude oil prices will ultimately likely recover. Membership Required.
Climate Change – UpdateThis Review updates the Climate Change Review of 2013(10), summarizing a number of climate change articles, all dating back to November 2015 and onwards – reflecting the large amount of information written on this topic. We begin with a summary under Climate Change Readings from publications: “Bloomberg”, “The Economist”, “The Globe and Mail”, and the ICD Directors Journal” plus an article about Al Gore in “The Atlantic”. We have also included very good Website References kindly provided by friends at Ontario Teachers, as done last time. The articles generally have links and these are provided wherever available so the reader can follow-up on the full story. We then conclude with Investment Implications as we did in the previous Review. Membership Required.