Programme
First Day: September 27th, 2022
Moderation:
Prof. Dr. Lutz Johanning, WHU, Vallendar, Germany
Dr. Jochen M. Kleeberg, alpha portfolio advisors, Kronberg im Taunus, Germany
8:45 Opening remarks
Module 1: Prospects for the Markets in Times of Inflation and Geopolitical Tensions
- Growth and inflation: Should we expect bigger swings and shorter cycles?
- Which trends are likely to change the global economy and the markets in the long term?
- What do these developments mean for the different asset classes?
- What opportunities arise for active investors who can cope with change, and what risks should be kept in mind?
- What causes and drivers of price increases can be diagnosed?
- What is the central banks’ toolbox for containing inflation?
- What are the consequences of the inflation environment for asset allocation?
- Is the end of the outperformance of growth stocks by monetary policy sealed?
10:50 Coffee Break & Networking
- How sustainable is the burst of non-transitory inflation?
- Structural headwinds on long-term real returns: How can investors prepare against the three critical long-horizon issues?
- How should investors set their expectations for the future in a zero-yield world with frothy equity valuations?
- Are there any compelling bargains today for the long-term patient investor?
- The nature of bubbles: How can one identify bubbles and anti-bubbles in real-time?
- Are growth stocks a bubble and is it now over?
12:20 Lunch
Module 2: Understanding China – What Investors Should Be Prepared For
- How does China’s rise influence the geopolitical balance of power?
- How does the conflict between China and the USA affect geopolitics in the 21st century?
- What internal risks does China face?
- What are the dangers of decoupling for prosperity and peace?
- Has “Change through Trade” failed?
- Is deglobalization of supply chains and deglobalization of financial flows equally relevant?
- Will Chinese savings stay in China, American savings stay in the USA and German savings stay in Germany?
- What effects of financial flow deglobalization do we already see in the markets and what can we expect?
- Against the new deglobalization backdrop, how should investors deploy capital?
15:45 Coffee Break & Networking
Module 3: Present Approaches for Institutional Investors
- The difficulty of being contrarian: Behavioral and agency
- Excessive valuation, growth rates and competition
- The return drivers of value and growth companies
- The merits of contrarian strategies and the dangers of chasing past performance
- Why most tips on calming down & recovering are useless
- Scientific evidence why strategic recovery is the only way to go through life with 100% energy and power
- What happens when we ignore the topic recovery – examples from everyday coaching life
- How we significantly improve our sleep recovery and daytime energy levels with deep sleep densification – without sleeping 1 minute longer!
- 3 quick win recovery strategies that quickly boost our energy, performance and health
Second Day: September 28th, 2022
Moderation:
Prof. Dr. Lutz Johanning, WHU, Vallendar, Germany
Dr. Jochen M. Kleeberg, alpha portfolio advisors, Kronberg im Taunus, Germany
8:50 Opening remarks
Module 4: The Changing World – Opportunities and Risks for Institutional Investment
- The path towards a more sustainable European energy system
- How will technological and economic factors influence the pace and direction of this transition?
- What challenges in storage and seasonality currently limit the adoption of renewables?
- What could a ‘Just Transition’ look like?
- How can investors influence this transition through asset allocation, portfolio strategy and corporate engagement?
- Why is now the right time to focus on disruptive innovation?
- How can investors identify investable innovation platforms?
- What are examples of problems that innovation has solved, and why will the solutions continue to scale?
- Why does innovation deserve a strategic allocation in investor portfolios?
11:00 Coffee Break & Networking
Module 5: New Ideas for Active Bond Management
- New Monetary and Fiscal Landscape in 2022 and Beyond
- How does Inflation Evolve Globally?
- What are the New Geo-Political Paradigms?
- Opportunities and Risks in Emerging Markets
- How the World Emerges and Navigates New Political & Economic Paradigms
12:30 Lunch
- Duration, Credit, Currency: Where does active management make sense?
- In which fixed income segments are active managers really successful?
- What are the characteristics of sustainable successful fixed income strategies?
- Alpha or beta: How can “black sheep” be identified?
- What investors should consider when designing the mandate profile
Module 6: ESG and Other Challenges for Institutional Investment
- Risk management 2022: (How) can capital market risks be sensibly hedged?
- What influence do geopolitical upheavals have on the direction of investments?
- To what extent are rising inflation rates and interest rate changes reflected in asset allocation?
- The path to more sustainability: How are investments adjusted with regard to ESG?
- How are active and passive approaches used in the context of investments?
- What role do illiquid asset classes play in asset allocation today and in the future?
- How do investors incorporate ESG preferences into their portfolio?
- How can investors jointly optimize expected returns, risk, and ESG in a simple way?
- When does ESG raise vs. lower returns?
- Is it a mistake to pursue ESG investing even if it does not raise returns?
- Can ESG investing mitigate risk?
16:30 End of conference