UniSuper's John Pearce, today's GFC echoes, LICs update | 1 Nov 2023

Wealth of Experience

Season 2, Episode 11
Special guest John Pearce, Chief Investment Officer at UniSuper, explains why the 60/40 portfolio is far from dead, that governments not central banks are to blame for the recent inflationary spiral, why history is a dangerous guide to the future, and how UniSuper has recently invested heavily in the downtrodden US banking sector.
Morningstar's Peter Warnes tells us why events today remind him of 2007, a year before the financial crisis hit.
And Firstlinks' Managing Editor, Graham Hand, gives an update on developments in listed investment companies and listed investment trusts, including planned delistings from Neuberger Berman and Forager, the ongoing battle over Magellan Financial's Gloval Fund, and Wilson Asset Management's latest offering.

Chapters

1. UniSuper's John Pearce, today's GFC echoes, LICs update | 1 Nov 2023 (00:00:00)

2. Graham Hand - why more LICs should close (00:01:58)

3. Graham Hand - new developments in LICs and LITs (00:04:23)

4. Graham Hand - some LICs deserve to stay (00:10:08)

5. Graham Hand - some LIC discounts can be an opportunity (00:11:27)

6. Peter Warnes - current market concerns (00:12:41)

7. Peter Warnes - what the RBA should do (00:14:00)

8. Peter Warnes - RBA has rightly lagged other central banks with rates (00:16:51)

9. Peter Warnes - on US government debt issues (00:19:27)

10. Peter Warnes - similarities between 2007 and now (00:22:22)

11. UniSuper's John Pearce (00:25:35)

12. John Pearce - on Jamie Dimon's gloomy outlook (00:26:47)

13. John Pearce - risk is getting priced properly (00:27:45)

14. John Pearce - easier to allocate money in 5% bond world (00:29:42)

15. John Pearce - 60/40 far from dead (00:32:04)

16. John Pearce - pros and cons of scale (00:32:50)

17. John Pearce - in house vs external management (00:33:50)

18. John Pearce - tilting into US banks (00:35:21)

19. John Pearce - glory days on unlisted assets may be behind it (00:35:52)

20. John Pearce - allocation process (00:38:30)

21. John Pearce - 2nd most popular UniSuper fund option is ESG (00:42:13)

22. John Pearce - governments caused latest inflation bout (00:43:40)

23. John Pearce - history is a dangerous guide to the future (00:46:05)

24. John Pearce - how he invests personally (00:47:43)