Michael Recce: The goldilocks approach to neuroscience, AI and investing

Apologies for the sound here, this interview was recorded using Skype and occasionally the quality drops.

I chat with Michael, Chief Data Scientist at Neuberger Berman, on using alternative data sets to improve insights into portfolios, deep diving into specific companies and industries and how these sets allow us to look at the world in a richer and more immediate fashion than ever before.

Nothing on this podcast is to be considered investment advice or a recommendation. No investment decision or activitiy should be undertaken without first seeking qualified and professional advice.

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Michael Pettis on China’s overinvestment paradox, and the Japan-style reckoning still to come

Michael Pettis on China’s overinvestment paradox, and the Japan-style reckoning still to come

China's advanced infrastructure and ballooning debt are two sides of the same story, says Carnegie Endowment nonresident senior fellow Michael Pettis, who compares China's coming consumption-led rebalancing to Japan's in the 1980s. In conversation with Top1000funds.com Asia Pacific correspondent Darcy Song, Pettis unpacks what this means for institutional investors weighing China exposure over multi-decade horizons, and why he remains bearish on the country's outlook.

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AP funds reform: Expanded opportunity in private equity

Much anticipated reform of Sweden's five buffer funds will liquidate AP1, dividing assets between AP3 and AP4. Private equity specialist AP6 will also merge with AP2, expanding the opportunity for the private equity investor and securing the future of the specialist team.

ML forecasts trump analyst coverage over long horizons: Research

Machine learning forecasts of corporate earnings outperform analyst forecasts, by revealing new information, economically important predictors and capturing non-linear relationships. Investors can use ML models as a less-biased forecast and a decision-making tool for when there is a vacuum of analyst coverage, an award-winning research paper has found. 

US, Australia the fastest growers as global pension assets hit $59 trillion

US and Australia have the fastest growth in pension assets among the world’s seven largest markets, as defined contribution-dominated countries helped push global pension assets to $58.5 trillion by the end of 2024.

Federal Thrift integrates new ex-China index; inspires others

The $946.9 billion Federal Retirement Thrift Investment Board (FRTIB) has integrated a new index that excludes China and Hong Kong in its I Fund. The strategy has now inspired leaders of US state pensions to exclude China too.

Cash and overweight to US equities pays at New Jersey

The New Jersey Division of Investment generated double digit returns in fiscal year 2024 while maintaining good liquidity and dry powder on hand with an overweight to cash and cash equivalents. The cash position is likely to decline through 2025 given the robust pipeline in new private market opportunities.

Time to walk: AP3 turns away from Europe despite bullish equity outlook

“Europe is great at discussion and regulation, but rather poor at actually doing business,” says Sweden's AP3 CIO, Jonas Thulin. “The equity market is harsh, and when it votes it walks out the door. This has been happening for a long time in Europe.”

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