Why I love watching economies evolve
April 2024
Lachlan Brumby
Senior Portfolio Analyst
Russell Investments
What is your day job?
I work in the Russell Investments multi-asset portfolio management team in Sydney – which oversees the Cornerstone portfolios on behalf of Invest Blue.
My role includes analysing and monitoring our investments, both at the underlying investment level and the total portfolio level. I also report to clients on the design, construction and management of the investment process.
What was your previous experience and qualifications?
Before joining Russell Investments, I was an associate investment analyst with a well-known research firm, Lonsec. My role was to research both fixed income funds and multi-asset funds which invest across securities like shares and bonds.
I previously studied economics and law at the University of Tasmania and worked at Ford Scott Financial Planning in Hobart before moving to Sydney.
Why did you choose finance as a career?
While I was studying, I found I enjoyed researching stocks and watching their prices tick during a law lecture more than listening to the law lecture itself – I took this as a good sign I was more interested in a career in finance than law.
I loved studying economics – it’s so important to investing.
What’s your favourite part of the job?
Every day is different. Markets are always evolving along with the economies of the various regions where we invest. Different investment opportunities become more and less attractive based on the financial news that drives them.
What’s the biggest lesson you’ve learnt in your career as a fund manager?
Be careful of emotional biases that might be impacting your view of an investment. One of world-famous US investor Warren Buffet’s best-known quotes is: “to be fearful when others are greedy and to be greedy only when others are fearful”. That sounds easy but it’s difficult to execute when human emotions come into play.
Any favourite pastimes?
I’m a big fan of the ocean, and love spending spare time at the beach; swimming, and surfing.
I also really enjoy listening to podcasts. My favourites are related to finance, markets, and funds management. Most weeks I listen in to Chanticleer and The Fin, both by The Australian Financial Review, as well as the interview segment of Erik Townsend’s MacroVoices, Bloomberg Surveillance, and Capital Allocators.
All-In is another good listen that covers a group of venture capitalist investors’ views of global and US policies, markets, and other topical trends.
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Cornerstone Financial Group Pty Ltd is a wholly owned subsidiary of Invest Blue Pty Ltd (ABN 91 100 874 744) which is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327, Australian Financial Services Licence and Australian Credit Licence No. 232706.
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Russell Investment Management Ltd ABN 53 068 338 974, AFS Licence 247185 (RIM) the investment consultant to Invest Blue Pty Ltd for the Cornerstone Retirement Solution and Cornerstone Managed Portfolios. RIM is also the investment adviser to the issuers of the Cornerstone Managed Portfolios.