Will the RBA Blow the Bubble Back-Up, the ESG Alpha Mirage, and Much More
Welcome to the Complexity Premia podcast from Coolabah Capital, which is hosted by Christopher Joye, CIO and portfolio manager of Coolabah Capital, and Ying Yi Ann Cheng, a portfolio management director. The Complexity Premia podcast strives to deconstruct modern investment problems for wholesale (not retail) participants in capital markets.
In this episode we will: debate whether the RBA is going to blow the housing bubble back up with interest rate cuts; discuss new RBA research that blames the central bank for the rapid house price growth between 2012-2017 (contrary to what the governors have claimed); present Coolabah’s pioneering quant research exploring whether you can use ESG filters to increase alpha and reduce beta in equities and bonds (you can download the paper here); examine what has driven the massive recent reduction in bank funding costs and the bid for the major banks’ senior bonds; explain the game-changer that is the Fed’s new inflation averaging regime, which has huge consequences for asset prices; and dissect the explosion in listed investment companies that fund managers are using to pay over $150 million in conflicted sales commissions to raise money from mums and dads for complex products that would never be allowed under the standard FOFA laws.
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