α-Insights | Olive — Vol. 4 interview series now live Exploring The Frontier With The Wise Has the traditional 60/40 really “stopped working”? Our featured guest, Samuel Hui, CFA, Managing Director, Asia-Pacific Global Wealth at Wellington Management, offers an in‑depth view on how to rebuild the traditional 60/40 through broader diversification amid rising cross‑asset correlations and shorter cycles, and how to upgrade asset allocation accordingly. Key insights in this episode: - Structural challenges facing 60/40: heightened macro uncertainty, equity–bond moves in sync, and weaker diversification. - Why add alternatives beyond 60/40: enhance diversification and improve risk‑return; the adoption cycle is still early, leaving ample allocation windows. - New APAC capital flow trends: accelerating allocations from institutions and insurers into hedge funds, private credit, private equity, and other mainstream alternatives. - Differentiated paths for institutions vs. HNW clients: distinct duration and liquidity preferences call for tailored allocation roadmaps. - Long-term investing discipline: avoid chasing hot themes, size positions prudently, and stick to the long-term framework through volatility. Watch the full episode now! Explore how to rebuild 60/40 through diversification with Wellington—and get ahead of the next allocation cycle. 《α-Insights | Olive 洞察》Vol.4 訪談專欄上線 Exploring The Frontier With The Wise｜與智者共探前沿 傳統 60/40 策略真的「失靈」了嗎？ 本期特邀嘉賓——威靈頓投資管理環球財富管理業務亞太區董事總經理許銘基（Samuel Hui），深入解析在資產相關性上升、周期縮短的背景下，如何以更廣義的多元化重塑 60/40 策略，推動資產配置升級。 本期核心洞見： - 60/40 面臨的結構性挑戰：宏觀不確定性加劇、股債同頻、分散效應減弱。 - 為何在 60/40 之外配置另類資產：提升分散度、優化風險回報；目前仍屬早期採用階段，配置窗口仍然充裕。 - 亞太資金流向新趨勢：機構與保險資金加速布局，聚焦對沖基金、另類信貸、私募股權等主流領域。 - 機構與高淨值客戶的差異化配置路徑：久期與流動性偏好不同，需制定更貼合的配置藍圖。 - 長期投資的行為準則：避免追逐熱點，控制倉位比例，於波動中堅守長期框架。 影片已上線！立即觀看！ 與威靈頓探討「以多元化重塑 60/40」的配置升級之道，搶佔下一輪配置周期先機。 #OliveInsights #AssetAllocation #6040Strategy #Alternatives #WellingtonManagement #Olive #AssetManagement #Olive洞察 #資產配置 #6040策略 #另類資產 #威靈頓投資管理

α-Insights | Olive — Vol. 9 interview series now live Exploring The Frontier With The Wise Has the era of globalization’s dividend ended—and a multipolar world begun? Our featured guest, Andy Yin, General Manager of Olive’s Global Private Markets, unpacks how to seek certainty within the “impossible trinity” and apply a three‑layer screening methodology to build high‑conviction portfolios. Key insights in this episode: - Balancing the “impossible trinity”: navigating the trade‑offs among high returns, certainty, and liquidity. - Building the multipolar core: U.S. innovation, Europe’s consumer‑health‑green complex, China manufacturing; Singapore as a hub; Australia/Canada resources. - Long‑cycle cadence: pilot in small steps, partner with philosophically aligned top managers, avoid single‑bet exposures. - Three‑layer screening: macro → meso → micro filters to produce a high‑probability shortlist. - Local roots with global reach: on‑the‑ground teams in Shanghai, Hong Kong, Singapore, Japan to capture regional opportunities. - Discretionary playbook: diversification, risk control, and discipline to let compounding work through cycles. Watch the full episode now! With Andy Yin, explore how to find certainty in the “impossible trinity” and use a three‑layer screen to lock in high‑conviction portfolios. 《α-Insights | Olive 洞察》Vol.9 訪談專欄上線 Exploring The Frontier With The Wise｜與智者共探前沿 全球化紅利是否告終，多極化時代是否開啟？ 本期特邀嘉賓——Olive 國際一級基金部總經理尹顥（Andy Yin），系統解析如何在「不可能三角」中尋找確定性，並以「三層篩選法」構建高勝率組合。 本期核心洞見： - 駕馭「不可能三角」：在高回報、確定性與流動性之間取得平衡。 - 多極化底倉配置：美國創新、歐洲消費醫療綠能、中國製造；新加坡樞紐，澳加資源。 - 長周期節奏：小步試點，嚴選理念契合的頭部管理人，不押單一趨勢。 - 三層篩選法：宏觀→中觀→微觀層層過濾，輸出「高勝率清單」。 - 本土化＋全球網絡：上海、香港、新加坡、日本在地團隊，精準捕捉區域機會。 - 全權委託方法論：以分散、風控與紀律，讓複利穿越周期。 影片已上線！立即觀看！ 與 Olive 國際一級 GM 尹顥一起，在「不可能三角」中尋找確定性，以三層篩選法鎖定高勝率組合。 #OliveInsights #Multipolar #PrimaryMarkets #ThreeLayerScreening #GlobalAssetAllocation #Olive #AssetManagement #Olive洞察 #多極化 #一級市場 #三層篩選法 #全球資產配置

💥 What happens to financial markets when geopolitics heats up? And could ETFs, often seen as safe, actually hide systemic fragility? Here’s a glimpse into my 𝘁𝗵𝗲𝘀𝗶𝘀 𝗽𝗿𝗼𝗷𝗲𝗰𝘁, one of the most stimulating research experiences I’ve had, especially given today’s geopolitical tensions and their potential impact on global financial markets. 🎧 My curiosity was first sparked by 𝗠𝗮𝗿𝗶𝗮𝗻𝗴𝗲𝗹𝗮 𝗣𝗶𝗿𝗮, in her Sky TG24’s podcast “3 Fattori”, where she often pointed out how, despite intense geopolitical shocks, markets kept reaching new highs. That paradox made me wonder if this apparent resilience could actually hide 𝗮𝗻 𝘂𝗻𝗱𝗲𝗿𝗹𝘆𝗶𝗻𝗴 𝘀𝘆𝘀𝘁𝗲𝗺𝗶𝗰 𝗳𝗿𝗮𝗴𝗶𝗹𝗶𝘁𝘆. 📊 To explore this, I focused on one of the most influential instruments in modern finance, the 𝗘𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗧𝗿𝗮𝗱𝗲𝗱 𝗙𝘂𝗻𝗱𝘀 (𝗘𝗧𝗙𝘀). The key question guiding my research was: “𝘐𝘯 𝘵𝘩𝘦 𝘦𝘷𝘦𝘯𝘵 𝘰𝘧 𝘢 𝘮𝘢𝘳𝘬𝘦𝘵 𝘥𝘰𝘸𝘯𝘵𝘶𝘳𝘯, 𝘤𝘰𝘶𝘭𝘥 𝘌𝘛𝘍𝘴, 𝘣𝘦𝘪𝘯𝘨 𝘸𝘪𝘥𝘦𝘭𝘺 𝘩𝘦𝘭𝘥 𝘣𝘺 𝘣𝘰𝘵𝘩 𝘪𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘪𝘰𝘯𝘢𝘭 𝘢𝘯𝘥 𝘳𝘦𝘵𝘢𝘪𝘭 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴, 𝘢𝘮𝘱𝘭𝘪𝘧𝘺 𝘴𝘺𝘴𝘵𝘦𝘮𝘪𝘤 𝘳𝘪𝘴𝘬 𝘥𝘶𝘦 𝘵𝘰 𝘵𝘩𝘦𝘪𝘳 𝘱𝘦𝘳𝘤𝘦𝘱𝘵𝘪𝘰𝘯 𝘢𝘴 𝘭𝘰𝘸-𝘳𝘪𝘴𝘬 𝘢𝘴𝘴𝘦𝘵𝘴?” 🔍 The results, rather than undermining my trust in ETFs, they reshaped my understanding of their role, reinforcing the importance of 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗰𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 and 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗱𝗶𝘃𝗲𝗿𝘀𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻. ✨ In my next posts, I’ll share how I approached the quantitative modeling behind systemic risk, from 𝗚𝗔𝗥𝗖𝗛 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 𝗺𝗼𝗱𝗲𝗹𝘀 to 𝗖𝗼𝗩𝗮𝗥, and what they can reveal about 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗰𝗼𝗻𝘁𝗮𝗴𝗶𝗼𝗻.

How do we invest when markets get noisy? My colleague Rob Larkins says it’s all about understanding the true drivers of return over time. And that comes from our experience, our curiosity, and the depth of our research platforms.

Strong performance is just the start — getting it seen by the right investors takes strategy. For emerging managers and founders, U.S. distribution can feel like a maze of platforms, gatekeepers, and criteria. Our crash course demystifies the process with actionable insights you can apply immediately — all in under an hour. Start with the short video overview: https://lnkd.in/eRAWH7PC Then explore the full course: https://lnkd.in/enEKHdN4

The market’s riveting stories. Derek Benedet, Portfolio Manager at Purpose Investments, on how dominant narratives inherently compromise sound decision-making: https://bit.ly/47uw1rG

In our latest CFA Institute Research and Policy Center Enterprising Investor podcast, I had the pleasure of sitting down with Rick Bookstaber — a pioneer in risk management and one of the most thoughtful voices connecting complexity science, human behavior, and markets. Rick’s challenge is a wake-up call for the profession: finance education and the practice of investing need to evolve... …from numbers to narrative: Investment decisions aren’t made by equations alone. They happen in rooms where people interpret risk reports, debate scenarios, and bring human judgment to uncertainty. …from financial to physical: Today’s most significant risks arise from the real economy (think supply chains, climate change, demographics, and geopolitics) not just market fluctuations. …from statistical to structural: Relying on historical correlations alone won’t prepare us for the next crisis. We must understand the architecture of systems and how shocks propagate through them. …from mechanical to human: Markets are human systems. As AI and agent-based modeling advance, we now have tools to simulate behavior, not just price action, and explore how complexity and adaptation shape outcomes. It was a fascinating conversation that bridges theory and practice, with real implications for investors, educators, and policymakers alike. I hope you enjoy our conversation as much as I did. 🎙️👉 🎧 Listen to the full episode here: https://lnkd.in/eGXnztW4 #EnterprisingInvestor #ComplexSystems #RiskManagement #BehavioralFinance #MaterialRisk #FinancialEducation #AIinFinance #CFAInstitute #RichardBookstaber

What will be the biggest stories in 2026? As the geopolitical status quo decays and concerns grow over economic stagnation and fiscal incontinence, the coming year is shaping up to be full of uncertainty. Our editor of The World Ahead, Tom Standage, explores three big trends for 2026. Read more of our future-gazing analysis: econ.st/49R3Ndo

https://trowe.com/4oAXX4p Explore the science of decision-making and how it can be applied to investing. Annie Duke, a former professional poker player and renowned author on behavioral science, and Justin Thomson, head of the T. Rowe Price Investment Institute, explore two main types of bias that often influence human decision-making. Listen to the latest episode of “The Angle from T. Rowe Price.” For professional clients only.

One of my favourite underrated frameworks comes from Michael Mauboussin’s paper on “Base Rates & Reference Class Forecasting” It’s simple but uncomfortable: Don’t trust your company-specific story Trust the statistics of similar companies first Instead of asking, “Will this company grow earnings 25% next year?” You ask, “How many companies in this industry ever sustained 25% earnings growth for 5 years straight?” That single shift from inside view to outside view forces brutal realism into investing You start thinking like an actuary, not a storyteller It’s one of those rare frameworks that doesn’t make you sound smarter, it makes you invest smarter We often treat research papers like academic relics But hidden in them are mental models that quietly separate conviction from delusion If you ever want to study markets deeply, start with the obscure PDFs no one reads That’s where the real edge still lives