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Macro Economics Insights - Inflation - aware investing (Part 3)

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The goal of investing is supposedly to maximize the after-tax, after-inflation return of a portfolio subject to some level of risk. We certainly know what taxes are. But what is inflation, and how does it affect investment portfolios?

The first part of this three-part webinar series will discuss how inflation works - what causes inflation (and just as important, what does not cause inflation), and what affects our perception of inflation.

The second part of the series will address how inflation impacts asset class returns for stocks, bonds, real estate, and so on.

The third part of the series will address the main goal of investing: how should an investor approach the portfolio challenge in an inflation-aware way? We will introduce some fairly simple approaches, but then ask the Big Question: how does this change if an investor’s liabilities are taken into account too? Webinar attendees should complete this three-part series with a solid understanding of inflation and its interaction with the capital markets, and some knowledge about how to confront this pernicious challenge.

Michael Ashton
A Managing Principal at Enduring Investments LLC, a boutique investment management company that offers focused inflation-market expertise and investment strategies.
 
Prior to founding Enduring Investments, Mr. Ashton worked as a trader, strategist, and salesman at a number of well-known financial institutions including Deutsche Bank, Bankers Trust, Barclays Capital, and J.P. Morgan.
 
Since 2003 he has played an integral role in developing the U.S. inflation derivatives markets and is widely viewed as a premier subject matter expert on inflation products and inflation trading. While at Barclays, he traded the first interbank U.S. CPI swaps. He was primarily responsible for the creation of the CPI Futures contract that the Chicago Mercantile Exchange listed in February 2004 and was the lead market maker for that contract. Mr. Ashton has written extensively about the use of inflation-indexed products for hedging real exposures.
 
In March 2016, Mr. Ashton published What’s Wrong With Money? The Biggest Bubble of All (Wiley, 2016), a book which explores the strengths and inherent weaknesses of our system of money, makes predictions about the future of inflation, and presents useful information about how to protect one’s lifestyle against such an outcome. Mr. Ashton is a summa cum laude graduate of Trinity University in San Antonio, Texas. 

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Macro Economics Insights - Inflation - aware investing (Part 3)
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