Common aphorisms and assumed truths about stock returns often imply the disappearance of risk over long horizons. Is that accurate?
Offices in many of the world’s major cities are struggling to find workers to occupy them. The trend of remote working, triggered by the pandemic, is costing Manhattan “$12 billion a year,” “devastating America’s cities” and “killing London.”
We believe a mild U.S. recession is more likely than not in 2024, although a soft-landing scenario cannot be ruled out. A recession is also likely in the UK and eurozone, but appears less likely in Australia.
Intermission is over. Today we resume my series on the global cycle theories that, probably not by coincidence, all point to major change unfolding in the next few years. Finishing it may take some time since I keep finding new material.
Private infrastructure offers unique investment characteristics and potential diversification benefits for portfolio construction.
Here are the 10 best books I read from September 2022 through August 2023.
Investors that missed out on this year’s dizzying rally in Nvidia Corp. have an attractive entry point this month.
The Big Myth is the remarkable, and largely untold, story of how America fell in love with market fundamentalism.
Last week we began exploring the details of my personal portfolio. This week we will finish and then move back to our discussion of various cycles.
To better understand the growth mindset as it applies to your practice, look at some common misunderstandings, contrasting them with the outlook predicated by the proper mindset.
To widen your audience, deepen client bonds, and carve out a strong market presence, a webinar strategy is your ticket to success.
In a significant turnaround for its aviation sector, Mexico’s air safety rating was upgraded from Category 2 back to Category 1 by the Federal Aviation Administration (FAA). The upgrade could be a game-changer, offering opportunities for both Mexican airlines and their U.S. joint venture partners.
For the savvy private wealth investor, portfolio diversity is key to success. Investing in infrastructure is one option that can help you both optimize your portfolio and make a positive and meaningful impact on your local community.
Diversifying a portfolio means spreading the investments across a variety of asset classes, industries and geographies.
I lost my dad, Alfred Munro Flaxington, this past weekend.
Market making in digital tokens used to be a font of outsized profitability. The picture today is very different as costs jump and investors avoid a crypto sector scarred by a $2 trillion rout.
Advisors can capitalize on the expected transfer of wealth between generations, the expected wave of retirements among older advisors, and referrals from other professionals.
So-called “finfluencers” are preying on naïve investors, promising unrealistic returns while generating excessive commissions for themselves. Their bait is an indexed-universal life (IUL) policy. Read this to avoid making a costly mistake.
Today we continue our study of the historical cycles suggesting a major crisis is in our near-term (5‒8 years) future. We don’t know the precise timing or nature of the crisis, but the patterns indicate one is coming and could be severe.
As businesses worldwide adopt technology, the innovation of AI may result in market leadership changes, global economic growth, and investor opportunities.
Since World War II, the US Dollar (USD) has served as the world’s preeminent ‘reserve currency’ – the means of exchange for most of the rest of the world to do business.
A cruder version of the above phrase, “Mess Around and Find Out”, has gained popularity in the American vocabulary. Politicians keep messing around with the creditworthiness of the nation’s sovereign debt. On August 1st, they found out.
Today we’ll continue reviewing Neil Howe’s magisterial new book, The Fourth Turning Is Here, focusing on the Millennial Generation’s important role in the coming crisis. Then we’ll think about what the crisis may look like. Finally—because I always try to look on the bright side—we’ll consider what Neil expects in the “First Turning” that will follow.
I thought I’d lead with some really impressive statistics. I just finished reading our latest ADV Part 2 (the SEC disclosure document provided annually to clients) describing the firm.
NYSE’s Douglas Yones covers a wide range of topics including active ETFs, Dimensional’s proposed ETF share class structure, surveillance sharing agreements pertaining to spot bitcoin ETF filings, ETFs moving to floor trading, and the importance of industry education. VettaFi’s Roxanna Islam offers perspective on the recent wave of ethereum futures ETF filings and unpacks this year’s stellar performance from the consumer discretionary sector. MUSQ’s David Schulhof spotlights the recently launched MUSQ Global Music Industry ETF.
Earnings season has thus far been a mixed bag, and despite a notable increase in the beat rate, the market is rightfully shifting focus to guidance for the rest of the year.
After 17 months of intense fighting, the costs of rebuilding Ukraine will most likely be far higher than previously expected. European countries, which have repeatedly pledged to support Ukraine but have contributed relatively little to its defense thus far, must coordinate and facilitate this effort.
Advisors must go beyond a one-size-fits-all approach and embrace the power of personalization.
Running a successful business means staying on top of day-to-day operations and of the evolving environment in which your business needs to operate as you grow. In our latest guide, we share seven risk factors every advisor should consider, with actionable tips to help you evaluate your firm’s potential liability.
Q2 2023 was a more favorable environment for Emerging Markets, Europe, Australia and Real Assets managers.
With so much opportunity for others to spread the word about you, are taking advantage of the chance to ask clients for introductions?
The Sovereign Debt Wave is at a historic peak and appears set to continue growing. With higher inflation and reduced liquidity, some countries will be able to continue to issue debt easily, while some will not.
Corporate profits are being challenged by market forces, diminishing pricing power.
Whether you're just starting out or already have a content marketing strategy in place, this guide will provide actionable steps to help you launch your content strategy or enhance your existing practices.
To provide some insights into what is going on with AI, we use data pulled from LOGICLY to gain an in-depth perspective on the three-month performance of the two largest AI-focused ETFs.
In his latest memo, Howard Marks discusses five market calls he’s made during his career. He argues that investors seeking to know the market’s likely direction should focus on taking its psychological temperature and understanding the nature of cycles. Just as importantly, they should learn to control their own emotions and have the humility to know when not to make a call.
Debt-financed fiscal policy is driving much of today’s high inflation, but as pandemic-era measures fade, central banks will likely return to their key role in managing price levels.
One of the hardest parts of economic forecasting is separating what we expect from what we want.
The second half of 2023 has officially begun, meaning it’s time for us to reflect on the commodities market so far this year. Lithium increased by 10.81%, making it the best-performing commodity and one of only two that recorded a positive return, the other being gold.
India's growth initiatives and demographics may help its economy continue to advance; its stocks seem to have priced in high expectations for the world's fifth-largest economy.
Some of the biggest bond managers are sticking to their bullish view on the market for US government debt, even as that trade looks riskier by the day.
Spring cleaning is essential to a cleaner home, just like rebalancing is essential to keeping an investor on track.
While the financial media has focused on the headwinds for commercial real estate and the challenges the office and retail sectors face, this narrative ignores the differences across sectors and the potential opportunities available in today’s market environment, according to Franklin Templeton Institute’s Tony Davidow.
India is rapidly transforming into a formidable global superpower and an increasingly attractive destination for investor capital. Amid rising geopolitical tensions and the impact of disruptive technologies, India's story is a beacon of opportunity in a challenging landscape.
Companies that consistently grow their dividend distributions tend to be companies with strong revenue and free cash flow at their disposal. Given the importance of dividends in down and volatile markets, dividend growth could be even more critical as the markets face uncertainty. Join the experts at Harbor Capital and VettaFi for a robust discussion on dividend growth strategies.
Topics covered will include:
Few financial topics grab more media attention than money managers who make gobs of money while everyone else suffers. Scott Patterson’s The Chaos Kings centers on two colorful participants who regularly do just that, Nassim Taleb and Mark Spitznagel.
Many economists have been forecasting a recession for 2023 due to tightening monetary policy. But that recession has not arrived yet.
Imagine a new digital environment where our data is portable and democratized, challenging the current monopolies. Web3 promises to be such an environment, using blockchain technology.
The exit from a decade of very low interest rates, via the most aggressive hiking cycle since 1980 has laid bare the distorted financing incentives that became entrenched in the years between the Global Financial Crisis in 2008 and the end of pandemic-era monetary policies in 2022.
Japanese stocks may help boost the performance of international markets although the unique nature of Japan's economic and business structure could pose some risks.
