Bill Bengen is an MIT-educated rocket scientist, retired financial advisor, and somewhat unintentional founder of “the 4% rule.” The widely used rule of thumb resulted from a study he did more than 30 years ago. His new book, “A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More” is an update of this study.
Recently, we have seen rapid shifts in and out of various sectors and stock factors that disrupt momentum strategies. Therefore, understanding how momentum strategies work can help you better identify when they might be effective and when it's time to switch to a different approach.
NVIDIA (NVDA) earnings are the focus tonight, but investors’ attention will quickly shift back to the macro later this week. According to our Economic Calendar, with data licensed from Econoday Inc., a second read on Q2 GDP hits the tape Thursday morning.
The global exchange-traded funds (ETFs) market has rarely been more dynamic. Active strategies may be commanding the headlines, but index-based ETFs remain the bedrock of portfolios worldwide.
The financial markets often shift gears in September, moving away from the quiet summer months marked by low trading volumes and limited volatility, and entering a period historically associated with seasonal weakness and increased market instability.
A full-scale implementation partner does the behind-the-scenes—but critically necessary—work of managing portfolios according to the investment objectives, risk tolerance and preferences set by an investment team. In doing so, they free up time and energy for the investment staff to focus on decision-making.
Investors enjoying the pairing of domestic stocks and the momentum factor are likely familiar with some related ETFs. This includes the Invesco S&P 500 Momentum ETF (SPMO).
Benefit Street Partners believes private credit managers need to focus on the financial conditions during a fund’s investment period. Skilled managers know when to dynamically deploy more capital or pull back, as the weather changes.
International stocks have outperformed the broad U.S. stock market so far this year. If the U.S. dollar continues to weaken, it could boost international returns even more.
For nearly two decades, U.S. electricity demand was flat. Between 2005 and 2020, consumption barely budged, thanks to efficiency gains in appliances and slower economic growth. Utilities planned for more of the same.
Despite not meeting three of the four criteria, UPS valuations provide a better margin of safety than many stocks. However, while it may fare better comparatively, we would want to see improvement in earnings and sales trends before committing UPS to our roster of rainy-day stocks.
US investors are more concentrated than they think. Franklin Mutual Series believes diversifying into local, non-US currencies yields benefits, particularly in an environment of downward US-dollar pressure.
Sharp losses in high-flying momentum stocks may present a dip-buying opportunity if history is any guide, according to Goldman Sachs Group Inc.’s trading desk.
Small-cap stocks have provided a return pattern quite different from large-cap stocks. Typically, small caps either race ahead of larger companies or else fall behind. They’re rarely in synch.
Companies touting their artificial intelligence and crypto-sector ties are speeding up their IPO timelines, after triple-digit first-day pops became a regular feature in this summer’s sizzling US market for new issues.
This week, the focus shifts to US retailers, particularly after recent economic data.
Since the last update of our three ‘Tactical Rules’ on June 17th, both domestic and international equity markets have rallied, increasing roughly 6.9% and 3.7%, respectively.
After a mega, multi-year run of outperformance in U.S. equities over non-U.S. equities, investors have begun to question their regional equity weights.
Advanced Credit Solutions is a tiny finance firm based in Luxembourg that was founded by a Belgian and works with insurers. Despite its outwardly bland appearance, the business it does is anything but.
With economic data, the challenge is that our instruments are more error prone. The monthly jobs reports rely on employers responding to surveys correctly and quickly.
U.S. economic growth slowed decisively in the first half of the year amid concern about rising tariffs, although corporate fundamentals have remained strong.
With 90% of S&P 500 companies having reported second quarter results, corporate America has handily topped expectations, displaying resilience in the face of a challenging policy environment.
The 24-hour news cycle reminds investors that tariffs still remain a factor. As such, for those looking to get commodities exposure as a portfolio diversifier will want to make sure they allocate strategically.
For the second straight month, consumer borrowing was weak, indicating Americans might be close to their credit limits.
The summer months and October are known being tough on stocks, but seasonal trends don’t always repeat. Even when they do, it’s not necessarily a call for long-term investors to move away from equities. This year could be an example of a good time to remain invested during the summer doldrums.
Despite inflation pressure, tariffs and immigration policy are leading to slower job growth and consumer spending, which may prompt the Federal Reserve to cut interest rates soon.
Recessions in the United States have become less frequent over time.
S&P 500 dividend growth remains sturdy. But more and more companies are leaning into share repurchase programs as avenues for returning capital to shareholders.
Another week of stellar earnings led to the S&P 500 and Nasdaq Composite hitting record levels by Thursday, but what a difference a day makes.
What's the outlook for private equity in the second half — and the retail investors potentially interested?
The tech sector has trounced the broader market in the second quarter. So, it’s not surprising some market participants are growing concerned about concentration risks. Those worries are valid.
If you’ve been following the luxury sector, you’ve probably seen your fair share of sobering news.
U.S. trade strategy is a top worry among economists.
Is this period different from the high-beta boom-and-bust cycle during the dot-com era? Only time will tell. While there are some similarities, key differences exist.
The opportunity set for emerging market (EM) equities has changed dramatically over the past three and a half decades – geographically, at a sector level, and in terms of market capitalization.
In a May report on alternative scenarios for the long-term US budget outlook, the Congressional Budget Office estimated the impact of productivity growth that was faster or slower than the 1% annual average in its baseline forecast. It made a big difference.
Tell me if this rings a bell. You worked hard your entire life. You maxed out your 401(k) every single year of your career and invested those assets inside your employer 401(k).
When markets decline—especially after long periods of sustained growth—the familiar advice resurfaces: “Be patient. Stay invested. Ride it out.” The rationale? The market always goes up over time. But there’s a critical flaw in this narrative.
The ability of the US economy to avoid a recession in 2022-2023 rested, in part, on the resilience of non-residential investment, which was propped up by a strong private investment push from companies taking advantage of provisions in both the CHIPS Act as well as the IRA.
The 2025 bitcoin bullishness has stirred much chatter about why the largest cryptocurrency is one of this year’s best-performing assets.
“Everyone knows” falling interest rates are good and rising interest rates are bad for bond investors. But “everyone” is generally wrong.
Today I’ll continue talking about uncertainty. I want to highlight the complexity we face and also describe the jarring surprise some of us feel when our most trusted sources say things we didn’t expect… and the importance of listening to them anyway.
The second quarter of 2025 started with a bang and ended with a whimper.
All the pieces are falling into place for silver’s bull market to accelerate, with a breakout into the $40s now looking increasingly likely in the near term.
In the one-year period ended June 2025, the S&P 500 Momentum Index rose 30%, essentially double the gain of the S&P 500.
This week, the White House released America’s AI Action Plan. This plan is the clearest signal yet that Washington now views AI as launching the next industrial super-cycle.
A solid earnings season shows Corporate America’s profit engine is humming along, potentially easing worries that the record-setting rally in US stocks is starting to overheat.
Passed by Congress and then signed into law by the president, the GENIUS Act builds legal and some regulatory frameworks around stablecoins.
In January, our emerging markets (EM) debt outlook called for steady growth, manageable inflation, and resilience in the face of geopolitical noise.
The Invesco QQQ ETF (QQQ) is one of the oldest and is the fifth-largest ETF. Pending shareholder approval, the $350 billion fund is about to get cheaper and modernize.
