THROUGH THE LOOKING GLASS: NAVIGATING AN UNPREDICTABLE WORLD
Much has been written about the challenge of generating returns when yields and risk premia are relatively low. It is, however, just as important for investors to recognize the many sources of economic and political fragility in an environment in which we may be reaching the limits of monetary policy effectiveness. Investors are therefore compelled to consider a wide range of possible futures and to build portfolios that are likely to be resilient to a range of scenarios.
In response to this challenging set of circumstances, investors need to look both inward and outward. Looking inward, investors should seek to identify any characteristics of their approach, objectives or circumstances that might provide a competitive edge or raise the importance of certain categories of risk. Looking outward, investors can then seek to build a portfolio of assets and strategies that maximizes their specific advantages and improves the likelihood of meeting their long-term objectives while managing the risk of capital impairment.
Aneesh Chopra is the former (and first) U.S. chief technology officer. As an assistant to the President, he designed the National Wireless Initiative, helped launch Startup America, and executed an "open innovation" strategy focused on better public-private collaboration as described in his 2014 book, Innovative State: How New Technologies can Transform Government.
Chopra is the co-founder and executive vice president of Hunch Analytics, a "hatchery" incubating ideas that improve the productivity of health and education markets, including NavHealth, an open data intelligence service. He serves as a member of the council on Virginia's Future and in 2015, served as the inaugural Walter Shorenstein Media and Democracy Fellow at Harvard's Kennedy School of Government.READ MORE
Joseph F. Coughlin is founder and director of the Massachusetts Institute of Technology AgeLab, the first multidisciplinary research program created to understand the behavior of the 45+ population, the role of technology and the opportunity for innovations to improve the quality of life of older adults and their families. His research focuses on how the convergence of baby boomer expectations and technology will shape the future of public policy and drive innovation across global industries, including the financial services, transportation, foods, insurance, health, IT, telecommunications and retail sectors. He has published his work in a variety of business, engineering, product design, behavioral science and policy journals. His insights on the impact of technological and demographic change on business and government are captured in his online publication Disruptive Demographics.READ MORE