More comment – Page 32
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Opinion PiecesNot business as usual
Basing investment decisions on short-term events can have long-term consequences, so it is vital trustees seek guidance
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FeaturesLong Term Matters: Learning from COVID-19
As the tide of the Second World War was turning in favour of the Allies, there was a ferment of discussion – initially bottom up – about how to build a better world when the war was over. While loved ones were fighting overseas and people at home were struggling with rationing and movement restrictions, some made the time to think about the future. The Bretton Woods Agreement, establishing fixed exchange rates, happened ten months before the war ended in Europe.
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Opinion PiecesLetter from US: Short-term relief, long-term pain
The COVID-19 pandemic is having an immediate and transparent impact on American defined contribution plans. But it also has implications for defined benefit plans in the long run
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Opinion PiecesGuest Viewpoint: Jeremy Coller
The global shutdown is painful for almost every sector of the economy. But in some industries the real damage will begin after the pandemic ends
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Opinion PiecesViewpoint: Rebalancing – the rational route to sustaining strategic objectives
Following severe equity and bond market dislocations, long-term investors should be taking stock of their portfolio allocations.
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Opinion PiecesViewpoint: Coronabias and the fat tail
Behavioural science has done a marvellous job of pointing out the mistakes most human beings make in estimating probability
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Opinion PiecesViewpoint: The positive impact scorecard
The private sector is discovering positive ways to support the response to COVID-19
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Opinion PiecesViewpoint: Responsible investing climbs trustee boards’ agendas
The amount of legislation at hand and the pace at which different directives and guidelines are coming out could be seen as daunting for some
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Opinion PiecesViewpoint: Coronavirus – what should trustees be thinking about?
Trustees have a duty to pay benefits to members, but the current financial environment is keeping them on their toes.
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Opinion PiecesKnowns and unknowns
“There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don’t know we don’t know.” Donald Rumsfeld, former US secretary of defence, February 2002
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Opinion PiecesUnderstanding the pandemic’s impact
When facing a serious threat it pays to remain as calm as possible. The temptation to panic is inevitably strong but it should be resisted.
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Opinion PiecesLong Term Matters: Investing in an age of pandemics
Pandemics are master classes in managing existential uncertainty. Being overwhelmed is ‘normal’. Here are seven actions that we can take as citizens and investment professionals. The focus is on the US and the UK: their governments are floundering. The unravelling in the US is dangerous for investors. Both the UK and the US are very responsive to the financial sector.
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Opinion PiecesBe prepared for the future
As 2019 came to an end, there were a number of risks that investors around the world would have to watch out for – Brexit negotiations, the US election, the trade war between China and the US – but nobody could have guessed that the COVID-19 pandemic was to come.
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Opinion PiecesLetter from a country in crisis
Empty streets and squares are not a usual sight in Italy, a country whose people love to socialise. The deadly COVID-19 pandemic has even taught Italians to make orderly queues outside supermarkets. The reality is that while Italians are not good at prevention, they are outstanding at reacting to emergency situations, thanks to their experience dealing with earthquakes and other natural disasters.
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Opinion PiecesThe case for a UK sovereign wealth fund
In November 2012 I suggested in an article in IPE that the UK should set up a sovereign wealth fund. The House of Commons had a parliamentary debate on setting one up in December 2016* and included the IPE article in the background papers. Unfortunately, Brexit overshadowed all else, but now that it is done, there may be a case for revisiting the arguments.
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Opinion PiecesLetter from US: The Democratic agenda takes shape
“On day one, [Joe] Biden will use the full authority of the executive branch to make progress and significantly reduce emissions. Biden recognises we must go further, faster and more aggressively than ever before, by (among other things) requiring public companies to disclose climate risks and the greenhouse gas emissions in their operations and supply chains.” That is Joe Biden’s ‘Plan for a Clean Energy Revolution and Environmental Justice’ as it appears on joebiden.com, the official campaign website.
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Opinion PiecesGuest Viewpoint: Steve Waygood
History may well look back on 2019 as the year the world finally woke up to the threats posed by climate change. Yet, with the negotiation failures that occurred at the 2019 United Nations Climate Change Conference in Madrid (COP25), the year ended on a significant downer.
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Opinion PiecesViewpoint: Bond Yields Will Rise, But When?
U.S. bond yields have been declining for four decades; why would the next decade be any different? - Jim Caron, Morgan Stanley Investment Management, explains
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Opinion PiecesInvesting in an age of pandemics
Pandemics are master classes in managing existential uncertainty. Being overwhelmed is ‘normal’. Here are seven actions that we can take as citizens and investment professionals. The focus is on the US and the UK: their governments are floundering. The unravelling in the US is dangerous for investors. Both the UK and the US are very responsive to the financial sector.
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Opinion PiecesCoronavirus: Letter from Liam Kennedy, editorial director, IPE
Very few of our readers will not be affected in some way by the spread of coronavirus and COVID-19. For IPE and most of its editorial team based in the centre of London, the virus has curtailed travel and meetings. We have also taken the decision to postpone events, including ...
