E-Growth in Emerging Markets
What is happening in emerging markets? Are there areas where an informed investor can make a profit? What are the pitfalls to avoid? On November 22, 2022, the CFA Society of Toronto hosted a virtual webinar, “Rethinking Emerging Markets: The Case for Growth & How to Capture It.” The speaker was Kevin T. Carter, the founder and Chief Investment Officer of EMQQ Global. Carter began by providing his background. “I pray toward Omaha,” he quipped, because he considers himself an active “value” investor first and foremost, along the lines of “the oracle of Omaha,” Warren Buffett. Carter has collaborated with […]
Inflation & Wage Growth
As the U.S. economy emerges from the pandemic, inflation has been climbing. What effect has this had on average wages? Will it be a long-lasting effect? Recent research by leading economists at the Federal Reserve Bank of San Francisco (FRBSF) dives into these questions. “Our findings show that, since the pandemic, inflation expectations have been playing a more prominent role in wage-setting dynamics than in the past,” say the four authors of a paper released on September 6, 2022. Òscar Jordà is a senior policy advisor, Fernanda Nechio is a vice president, and Celeste Liu and Fabián Rivera-Reyes are both […]
The Beveridge Curve
In early 2021, in the wake of the Covid-19 pandemic, the U.S. saw many workers leave their jobs and seek other employment—leading to record high job vacancies—a phenomenon observed dubbed “the great resignation.” Lately, inflation is rising, markets are cooling, and the great resignation appears to be slowing. The question becomes: How will unemployment rise as growth slows and job vacancies decline? On August 29, 2022, the Federal Reserve Bank of San Francisco (FRBSF) released an Economic Letter titled “Finding a Soft Landing along the Beveridge Curve” that explores the current relationship between unemployment and economic growth. The paper was […]
Tools to Fight Global Warming
Investors realize something must be done to mitigate global warming. The financial system needs reliable tools, or performance indicators, that can measure how well financial portfolios align with the Paris Agreement goals. But what, exactly, are these indicators? On April 26, 2022, two specialists described the technical side of measuring portfolio alignment with current efforts to combat climate change. The webinar was sponsored by the Global Association of Risk Professionals (GARP) and was moderated by Jo Paisley, President, GARP Risk Institute. The movement toward portfolio alignment tools (PAT) is an outgrowth from the 26th United Nations Climate Change conference, commonly referred to as COP […]
Six Technologies To Ponder
We live in a time of great challenges yet great innovation. Do you feel overwhelmed with the constant proclamations about what problems need solving most urgently, and what technologies are most effective? Do you seek to invest in new technology that has unrealized potential? On March 17, 2022, Alok Jha, science editor for the Economist, engaged two of his colleagues in a few lightning rounds of “Tell Us About Technology.” The colleagues were Slavea Chankova, healthcare correspondent, and Tom Standage, deputy editor. The three of them gave brief speeches meant to summarize a selected technology and its significance to current […]
Climate Risk Assessment
Storms, floods, fires, drought: what are the potential hazards threatening the physical assets of different regions? Furthermore, how can we estimate the magnitude of physical risk of each of these under a climate change scenario? “We’ve built infrastructure for certain weather patterns,” said Rohan Hamden, “but now it no longer fits with the weather we are experiencing.” Hamden is the founder and CEO of XDI, the Cross-Dependency Initiative, a company focused on Cross Dependency Analytics to estimate the physical risk to assets of many kinds of hazards. He was invited to share his expertise in physical risk data, modeling, and […]
“Confront Their Reluctance”
“We believe women need to confront their reluctance to consider a leadership role and work actively to counter it with a more positive response.” This clarion call is issued by two top leaders in the academic and corporate world. Indira Samarasekera was the first woman president of the University of Alberta, and a director of Magna International, TC Energy, and Stelco. Martha Piper was the first woman president of the University of British Columbia, and a director of the Bank of Montreal, Shoppers Drug Mart, and TransAlta Corporation. Although neither was born in Canada, both are officers of the Order […]
The Decisive Decade
Raging, uncontrollable forest fires. Prolonged heat domes, causing hundreds of deaths. Catastrophic storms. Flash floods. These are just a few of the effects of climate change being felt this year. Are the countries of the world acting quickly enough to prevent irreversible damage? Two months ahead of the upcoming COP26 negotiations in Glasgow, two editors from the magazine the Economist discussed their expectations of this crucial conference in a webinar on September 23, 2021, before an audience of hundreds. Oliver Morton, the Economist’s Briefings senior editor, and Catherine Brahic, Environment editor, discussed the recent findings of the latest Intergovernmental Panel on Climate […]
Starting an Alternative Desk
When a finance company is starting up an alternative fund, the managers may have been isolated from the day-to-day tasks such as trading and execution, fund administration, and cyber security. Where does one begin, and how does one prioritize? “Often the IT is overlooked. Some people think they just need a Bloomberg terminal,” said Robert Strawbridge, Vice President, Head of Canada at Options IT, a global leader in fintech managed services, colocation, and cybersecurity. His firm can step in to help. “We manage the cloud services. We do everything but the trading.” Strawbridge was one of four panellists who convened […]
Update on the Jab
It’s a truism: bad health of the population, bad economy. What then is happening globally in the Covid-19 pandemic? When will things return to normal? The pandemic continues to rage in various parts of the world, affecting both developed and emerging markets. On July 7, 2021, The Economist, a magazine that has been running stories on vaccines and the Covid-19 pandemic each week, sponsored a webinar featuring an editor and correspondent on the pandemic beat. Natasha Lode, health policy editor at the Economist, highlighted some recent issues. She is also host of the Economist’s podcast The Jab, whose tagline reads, […]