I wrote several years ago that the only thing you can count on the stock market to do is fluctuate, and that the wisest response is usually to do nothing. Looking less often will not change your return. It will make you far less likely to damage the return you already have.
The WealthTech market has a serious AI-washing problem. The term borrows directly from a parallel wealth management executives already understand. Just as greenwashing described investment managers who marketed ESG commitments they could not substantiate, AI washing describes technology vendors who relabel rules-based automation as artificial intelligence.
Kevin Warsh’s first major speech as chairman of the Federal Reserve has become an unexpected trial of his slimmed-down communications style.
US stocks advanced on Tuesday as technology names rallied and investors continued to prepare for Nvidia Corp. earnings and the Jackson Hole Symposium.
Treasuries gained as a decline in crude oil eased inflation concerns and the pressure on Treasury Secretary Scott Bessent, who has been moving to halt a months-long selloff that pushed the longest-dated yields to the highest in almost two decades.
The artificial intelligence trade is booming, and so is the hunt for new ways to diversify AI exposure. Traders can buy power futures, track the technology’s beneficiaries and back data-center real estate projects, alongside buying the usual haul of chipmaker shares.
Yields on 30-year US bonds broke 5% last week, a level not seen since before the Great Financial Crisis. The Treasury Department bought bonds in an attempt to lower yields. It worked — for a day, then bond yields went back up. Meanwhile, in a not-exactly-unrelated development, the US national debt just passed $40 trillion.
When portfolios become standardized, investor experience becomes standardized right along with them, even though almost nothing else about those investors is standard. Their goals, tax exposure, risk tolerances, and individual spending needs are too individualized to be captured by many models that purport to be customized.
While it is useful to analyze holdings by asset class, a portfolio-wide view can provide additional insights. Typically, the bond sleeve and the equity sleeve are seen as entirely separate. However, they usually hold unnoticed concentrations in different companies.
Amazon.com Inc.’s Andy Jassy has begun making an audacious boast during conference calls this year. Though his company remains a top Nvidia Corp. customer, it’s also one of the world’s largest makers of data center chips in its own right.
US stocks traded lower before the bell on Monday as investors prepared for a busy week of economic data and important earnings from Nvidia Corp.
The question facing advisors is no longer whether clients can hold digital assets, because many already do. It is whether the firm can explain, in writing, how each position was sized, why a particular product was chosen, and where that decision is recorded. Most firms cannot, and that gap is the exposure.
The Treasury Department could opt to draw down some of its cash pile to fund expanded buybacks of higher-yielding, older securities, CNBC reported Monday, citing two senior Treasury officials.
No doubt, AI can be an unnerving tool. But it isn’t magic, malevolent, or secretly sentient. With some reasonable rules in place, policymakers should be able to keep the bots in line, and unleash the benefits for everyone else.
On the first few trading days of every month, America’s paychecks hit the stock market. Most 401(k) contributions now default into index-tracking funds, which buy the same stocks in the same proportions whatever the price.
Gold climbed to the highest in three months as the US Treasury’s bold intervention to try to stem a damaging increase in borrowing costs revived investor fears about its fiscal burden.
Market exuberance returned to cryptocurrencies when US Treasury Secretary Scott Bessent announced Wednesday the department would at least double the size of its long-dated bond buybacks, triggering an upswing that forced traders to liquidate billions in short positions.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. strategists are among the most optimistic about European stocks on the back of a robust corporate earnings outlook, a Bloomberg survey shows.
A brisk rally in industrial stocks this year has defied higher oil prices, rising bond yields and restrictive trade policies, as investors bet on big gains from the artificial intelligence boom. Now signs are emerging the optimism may have gone too far.
US stocks rose in early trading Friday, putting the Nasdaq 100 on track to end a five-day losing streak as bond yields stabilize and Bitcoin soars.
It’s easy to make the case that the US equity market is in bubble territory. After all, the major metrics point in the same direction.
Shares of Meta Platforms Inc. have been under pressure all year due to questions about its spending on artificial intelligence. But a trial accusing its social media platforms of targeting children goes beyond that, raising existential questions about the future of its core business.
Alibaba Group Holding Ltd.’s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending to almost $10 billion, aiming to safeguard its position in a fiercely competitive global AI arena.
With a slew of unexpected maneuvers this year, Scott Bessent has emerged as the most interventionist Treasury secretary in financial markets in decades — putting his credibility on the line in an effort to quell a potentially damaging rise in US borrowing costs.
The nation’s affordable-housing shortage is fueling a fast-growing corner of the municipal bond market, as lenders securitize portfolios of multifamily mortgages to free up capital for new loans.
Would you consider investing in a bond that earns more than 3% after accounting for inflation? What if that security has zero chance of default? Such an opportunity exists today in U.S. Treasury Inflation-Protected Securities (TIPS).
Agentic AI won't scale until it owns the meeting cycle—not by replacing advisors or acting without oversight, but by maintaining operational continuity: assembling context, preserving memory, and driving approved actions through to completion.
I’m always asked for scripts. You don’t want a script. You want to be natural and approach clients in a manner that fits you. Practice, practice, practice until it seems natural and comfortable. Authentic is always best.
Treat launch costs as initial investments, not expenses to minimize. Strategic firms often discover that the most valuable investments are the ones that protect their clients, preserve flexibility, and create enduring enterprise value.
The deal follows similar moves elsewhere in the Gulf, including oil and gas pipeline transactions by Abu Dhabi National Oil Co. and Saudi Aramco, as governments seek to bring in external capital without losing control of key assets. In these cases, investors obtained bridge financing from banks that were later refinanced by bonds.
The US Treasury unexpectedly announced it’s ramping up buybacks of long-dated government debt, taking the action in the wake of yields on such securities hitting the highest levels in years.
Marvell Technology Inc. and Alphabet Inc.’s Google announced an expanded chip-development partnership, including a warrant from Marvell allowing the search giant to buy as much as $12.2 billion in shares.
More than a decade ago, hundreds of US garage entrepreneurs were working on shoestring budgets to develop drones with dreams of scaling the new technology. Then China’s DJI introduced a small, inexpensive drone with a stable built-in camera.
America remains the best country in the world to get rich. Some see this as cause for celebration, while others view it as evidence of a broken capitalist system. As an economist, I am less interested in debating whether billionaires (or trillionaires) should exist than in asking what the alternative is.
As private credit further cements its role as a primary source of corporate financing, it will be essential to balance opportunity with prudent risk management for long-term stability and sustainability.
As growth accelerates, the first question a leadership team has to answer is not how big the firm can get. It is where the frontier sits, the exact point at which scale stops generating lift and starts generating drag.
A divorce. A house fire. A serious accident or illness. The death of a family member. Caring for elderly parents. Life events like these are hard and emotionally draining. To make things worse, they also require us to deal with finances and make significant, complex money decisions.
Goldman Sachs Group Inc., Blackstone Inc. and Apollo Global Management Inc. had been working tirelessly for months to draw up debt deals that would help developers of artificial intelligence systems pay for chips from Nvidia Corp.
The yield on 30-year US Treasuries hit the highest in almost two decades, reflecting investor angst over surging government spending, a flood of long-dated bond sales and inflation that’s been stuck over the Federal Reserve’s target for the past five years.
Wealth managers are beating a retreat from private credit and ramping up a search for alternatives, as they continue to reel from sudden exit restrictions at several major direct lending funds earlier this year.
If the bad news is that members of Generation Z can’t afford to buy a house until they are middle-aged — which isn’t really bad news, honestly, but anyway — then the good news is that at least they are investing their money in high-performing assets.
Hoisington Investment Management — managed by Hunt and Hoisington — sharply reduced its clients’ bond duration and put the proceeds in Treasury bills. That reversal of such long-held opinions deserves serious attention. I will summarize Hunt’s new views and some counterpoints to help you assess his new stance.
US existing home sales fell a little in July, according to data released last week by the National Association of Realtors. But what really stands out when one looks at the numbers is how little they’ve changed over the past three years. This July, homes were selling at an annual pace of 4.06 million. In July 2023, it was 4.08 million.
Patients need financing that is approved on the spot and fits the cost and timing of their specific procedure. This is the gap that a newer class of lenders — including CareCredit, Affirm, Sunbit, and Cherry — has been built to fill. The growth of buy now, pay later healthcare financing over the past two years reflects how quickly demand has caught up with supply.
Gone are the days of capital-light and cash-flow-rich technology businesses such as internet search, e-commerce and social media. The game now is artificial intelligence, and you had better have hard assets and deep pockets to play, the kind of money few companies have laying around.
As investors debate whether and when the Federal Reserve will raise interest rates, market expectations for further tightening are building around the world — and spelling trouble for bonds.
Reasons to be wary about stocks are quickly disappearing and a Goldilocks scenario looks increasingly likely. That’s precisely why it’s a perfect time to hedge against a market priced for perfection.
Gold extended a two-week advance as pared back expectations for further Federal Reserve rate hikes put pressure on the dollar, making bullion cheaper for most buyers.
The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration’s effort to force Tehran’s capitulation after almost six months of war.
