As fast as it went up for value managers, it’s coming down. The culprit is the all-consuming craze for artificial intelligence.
The industry group Airlines for America predicts that approximately 257 million people will travel on U.S. commercial airlines this summer, representing a 9.5% increase from last year. That would also set a new record, as volumes are projected to surpass the summer 2019 levels by around 2 million passengers.
When Jamie Dimon takes center stage at JPMorgan Chase & Co.’s China summit Wednesday, he’ll be confronting a business landscape that looks vastly different from his visit four years ago.
As the debt ceiling fight in Washington heads down to the wire with the risk of a technical default looming, investors are growing nervous.
If you were doubting whether the age of AI has arrived, NVIDIA’s stock performance this week may have given you second thoughts.
I’ve said it before, 2023 has been a heck of a year. In just five months, four large regional banks and one major global financial institution shuttered, marking the second-worst year for bank failures.
The terms private credit and private debt are often used interchangeably to describe direct origination credit strategies. But, the business is also known by another name: non-bank lending.
We prefer private to public credit long term on better return potential. It’s the mirror image in equity: We prefer public stocks as risks fade in the medium term.
According to Buffett, the US economy just went through the “most extraordinary economic period since World War II.” That’s a heck of a statement.
What generally follows that expression is a succinct synopsis. We’re always trying to be concise; however, distilling complex economic and investment matters usually requires several pages.
Although attendance was down this year compared to last—mostly because Bitcoin’s price is still off its record high of approximately $69,000, set in November 2021—there was nevertheless an impressive turnout of investors of all ages, industry leaders, policymakers and more.
Here’s what we learned in earnings season about how companies are coping with a particularly tricky set of macroeconomic conditions.
The U.S. economy is likely slowing down, and a recession seems likely in the 12-18 month time horizon.
Alphabet Inc. is back in the game. The artificial intelligence game, that is.
A long-term financial plan can be dismantled late in life by adult children, usually with good intentions. What can you do to guard against this possibility?
The Banking emergency arising with mid-sized, regional banks is a direct consequence of policy decisions. Examine the causes of bank failures in 2023 and the potential for larger contagion.
The central bank likely won't have enough reason to hike rates again this cycle. In fact, we wouldn't be surprised to see one or two rate cuts later this year.
Single-stock exchange-traded funds made a splash in the industry when they debuted last year. Now one issuer is hoping to double the existing lineup.
Shifts in the labor market due to monetary policy tightening would see lagged effects that may not aid central banks' efforts to materially affect core inflation by year's end.
The financial media is rife with misinformation on the debt ceiling and the jump in interest rates. However, a history review shows that the “debt-ceiling” issue is not only a non-crisis, but the recent rise in rates is likely an opportunity to buy bonds.
Bill Gross, the former chief investment officer of Pacific Investment Management Co., recommended buying short-term Treasury bills, expecting the debt-ceiling issue eventually gets resolved.
Financial cracks from rate hikes have led to jitters over commercial real estate. Yet granularity is key. We see opportunities in some U.S. industrial properties.
Investors are bailing on preferred shares at a historic clip because of the growing concern about the health of US regional banks.
The U.S. regional banking crisis is intensifying as rising interest rates put smaller banks at risk, leading to significant losses in the sector. Amid the turmoil, gold and gold mining stocks may offer investors a potentially safer alternative to manage risk.
If you act quickly, you can prevent your mistake from ruining your credit score and jeopardizing your financial future.
Crowded equity trades and possible policy remediation for US regional banks may bring an end to a trade that’s roiled broader markets but proved lucrative for some short sellers.
PacWest Bancorp has become the latest focal point of investor concern about the health of US regional banks, shedding nearly half its value in premarket trading, a day after Federal Reserve Chair Jerome Powell said authorities were closer to containing the turmoil that’s claimed four lenders this year.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon made a bold call on Monday: his firm’s rescue of First Republic Bank ended the initial phase of the turmoil engulfing banks.
A long-shot bid to launch double-leveraged, single-stock exchange-traded funds tracking the notoriously volatile Tesla Inc. has been filed with US regulators after past attempts have failed.
Whether you are a potential borrower or just trying to understand the modern economy, student loans are essential to understand.
As Wall Street economists and central bankers debate if and when the US economy will slip into a recession, big money managers aren’t waiting to find out.
US companies’ earnings are strong enough that money managers like T. Rowe Price Group Inc. and PGIM Inc. expect corporate bonds to outperform Treasuries over the next 12 months, even if the economy suffers.
Lending standards are a lot like carbon monoxide since they operate in the back ground. When the Senior Loan Officer Opinion Survey (SLOOOS) showed that banks significantly increased lending standards in the third quarter, no one on Wall Street noticed.
And neither should you.
Cryptocurrency adoption in the U.S. increased amid fears of a full-blown banking crisis, a new poll finds. According to Morning Consult, 22% of Americans, over one in five, said they owned at least one form of crypto in April, representing a four-percentage-point increase from January.
Economic fundamentals are lining up for a return of QE. Yes, inflation is still on the high side but falling so rapidly that at least some central banks will be willing to take action before inflation is back to 2%.
India’s ability to attract foreign investment has long been hampered by subpar infrastructure and excessive bureaucracy. But reputations can obscure real change.
We hope you enjoy the latest NewsLetter from Harold Evensky.
The failures of Silicon Valley Bank, Credit Suisse Group AG and others have gotten financial authorities thinking again about bank runs and liquidity regulations — and whether some rules ought to be tweaked to make the system safer.
The disruption in office real estate is outlasting the term on its loans.
Back before clocks went digital, you could say “a stopped clock is right twice a day” and even youngsters would know what you meant. A mechanism could be nonfunctional but occasionally correct.
The surprisingly resilient equity market is invigorating a time-honored options strategy, driving it to the best start of a year in two decades.
Nexus or Icebreaker? Two competing ideas are jostling for attention, each promising to reshape the inefficiency-ridden landscape of moving money from one country to another. Instead of trying to choose between them, central banks ought to give both a shot.
Disagreement is bubbling up at the Federal Reserve as dueling growth and inflation risks pull policymakers in different directions. If you think the debate seems fiery now, just wait until the third quarter, when recession may be at the nation’s doorstep.
If you're not creating valuable blog content, regularly posting it on your website and sharing it through social media, you are missing attention from countless potential clients.
When Bitcoin plunged from around $30,000 to below $20,000 in little more than a week last year, Three Arrows Capital co-founder Su Zhu described the tailspin as the “nail in the coffin” for his hedge fund.
In his latest memo, Howard Marks discusses the significance of the Silicon Valley Bank collapse. He argues that it likely doesn’t portend a wave of banking failures but may amplify preexisting wariness among investors and lenders, leading to further credit tightening and additional pain across a range of industries and sectors.
We announced our Venerated Voices awards for commentaries published in Q1 2023.
It’s believed that to meet this goal, two out of every three passenger vehicles manufactured in the U.S. would need to be electric models.
Just as it is getting ever-more important to anticipate changes in Fed policy, those changes are becoming more uncertain. One way to help resolve this dilemma is by explicitly incorporating political and public policy goals into the monetary policy calculus.
