We propose a golf-inspired advisor assessment framework with a scorecard, fairway average and handicap as performance measures to quantitatively assess an advisors’ investment performance.
The patent that’s given Vanguard Group an edge over competitors for the past 20 years — and helped its clients pull in more than $100 billion worth of additional investment gains — expired today.
One of my mentors once told me that "Hope is not a strategy" and since we can't predict the markets, I have decided to focus this blog on using Direct Indexing to attract new high net-worth clients.
Corporate America, one of the few reliable purchasers of equities in this bear market, is retreating from its buying binge, fresh evidence that the Federal Reserve-induced slowdown is taking a toll on business sentiment.
Pay attention to the bond diversification, resiliency quality stocks may offer, and current allocation to cash within portfolios in the wake of Fed action.
When March’s bank failures ignited a historic bond rally, few, if any, made more money than Josh Barrickman. His army of funds gained roughly $26 billion, the equivalent of more than $1 billion in paper profits every single trading session.
Although investing in in-state municipal bonds may have tax advantages, there can be good reasons to buy out-of-state munis.
Over the past year, the municipal bond market has seen increased volatility stemming from rising interest rates across the yield curve.
Direct indexing is an innovative investment strategy that can solve a variety of investor challenges. We discuss the five main benefits of incorporating direct indexing in a client’s portfolio.
We favor high yield bonds and natural resource stocks as inflation still shows persistence, earnings expectations deteriorate and worries mount over a stalling U.S. economy.
China’s domestically driven economic growth has not yet translated to Emerging Market stock performance, which has tended to have been weighed down by international political tensions.
We hope you enjoy the latest NewsLetter from Harold Evensky.
JPMorgan has unseated itself for the title of largest actively managed exchange-traded fund in the $7 trillion arena.
Despite the overwhelming academic evidence demonstrating the superior, long-term performance of index funds, investors may want to invest in actively managed products. New research shows the importance of choosing low-cost funds.
Many investors, including my clients, have been worried about their Schwab account safety. Are they right to be worried?
When I worked on Wall Street, it was the golden age of hedge funds. They were on the bleeding edge of finance in the mid-2000s, swashbuckling market pirates who did all kinds of exotic stuff to earn alpha for their investors.
Consisting of 60% stocks/40% bonds, this classic investment portfolio has historically been a trusted way to generate returns and diversify investor portfolios. However, we believe the 60/40 allocation may now be working against investors.
Despite media headlines, podcasts, and broadcasts suggesting “doom and gloom” lurks around the corner, investor bullishness has increased markedly since the October lows. This isn’t the first time we have discussed investor sentiment, which is often wrong at the extremes.
Having presided over America’s first banking crisis since 2008, Federal Reserve officials are rightly focused on reforming regulation. That said, they should keep in mind some lessons for monetary policy, too.
At the end of 2021, the Dow Jones Industrial Average closed at 36,338, and the career scoring total of LeBron James stood about 60 points lower…
2023 has already been an eventful year, featuring a banking crisis and more Fed rate hikes. In our view, this is not a “set it and forget it” type of market – investors need to stay vigilant.
While direct indexing has been a hot topic for the past couple of years, many advisors and investors are still trying to assess what it is, if it's right for them, and where it might fit into their portfolios. Head of Vanguard Personalized Indexing Emily LeStrange works with advisors to understand where direct indexing fits into an advisor's practice – and whether the benefits of direct indexing outweigh the challenges.
Tax-managed investing has gained in popularity in recent years. But what exactly is a tax-managed mutual fund? We do a deep dive into the concept.
Central banks accumulated gold at the fastest pace on record in the first two months of 2023. In January and February, central banks collectively bought a net 125 tonnes of the metal, the highest amount for the year-to-date period since banks became net buyers in 2010.
Professional stock pickers who feasted on last year’s volatility were positioned for more of the same heading into 2023. They got something else entirely, and are paying for it in their returns.
Implications of the ongoing volatility in the banking sector, and what it means for markets in Europe and globally—check out highlights from our most recent discussion with Kim Catechis, Investment Strategist, Franklin Templeton Institute.
Many advisors today are helping clients with a broad range of their financial planning needs.
Money market funds are attracting deposits for more reasons than just SVB.
Tax issues are an area most of us focus on once a year. However, if you are heading into retirement and you do not have a solid tax plan in place, you could be paying thousands of dollars in taxes needlessly.
Gold appears to be well-positioned for a strong pump that could carry it to new all-time high prices in 2023—and beyond. As you know, I’ve been following and writing about the precious metal market for a very long time, and I see a number of unique catalysts at the moment that could contribute to higher gold prices.
The pitch for an actively managed bond exchange-traded fund can be compelling, especially when there’s market turmoil and uncertainty
A question has arisen amid all the bank failures. How, with the bond market enduring its worst spasm of volatility in almost four decades, have benchmark-level stocks managed to glide along, oases of calm?
New research confirms the valuable role that short sellers play in correcting the valuations of overpriced stocks.
My research confirms what academic theory predicts: There has been no historical alpha among dividend-paying stocks, including those with a history of increasing dividends. Investors are better served by “tilting” allocations to factors that have historically outperformed (e.g., value).
Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air.
We believe municipal bonds boast several key factors that position them as an attractive asset class in general, but especially so when markets are volatile.
Before making a hedge fund investment, investors and their advisors should consider four key questions.
VettaFi’s Todd Rosenbluth offers his take on five key ETF stories Nate is tracking right now. Morgan Stanley’s Tony Rochte discusses their recent ETF entrance and what comes next. VanEck’s David Schassler explains why inflation is here to stay and spotlights two potential inflation-fighting ETFs.
Here are the top three trends that will affect ETFs in 2023.
Research from Vanguard suggests that investing in commodities is the most powerful way to hedge against unexpected inflation.
Markets are unpredictable, which is one of many reasons it is difficult to consistently deliver alpha over long periods. In their latest commentary, our small cap growth team explains why their approach to managing the trade-off between risk and reward gives them the opportunity to outperform across market cycles.
A gold IRA is one way to diversify your retirement portfolio. It can protect your savings from plummeting in the event of a stock market crash or high inflation.
Janus Henderson Group Plc’s new boss has a plan to revive the struggling money manager, whose clients have yanked about $130 billion since 2017.
Passively managed equity funds are on the cusp of marking a milestone that’s been more than a decade in the making: Globally, net assets in such products are about to exceed those of their actively managed counterparts, according to Societe Generale.
The world of exchange-traded funds — still synonymous with passive investing — is turning into a battleground for Wall Street’s biggest players as they compete for a slice of the active-management industry.
VettaFi’s Tom Hendrickson discusses the latest Bitwise/VettaFi Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets. Dimensional’s Wes Crill offers perspective on the growth of their ETF business, mutual fund to ETF conversions, value investing, and more. Alpha Architect’s Wes Gray explains their white labeling service and spotlights two recent ETF launches.
Here are some places where the genuinely rich keep their money.
A parade of money managers who converted mutual funds into exchange-traded funds in a bid to ride rampant demand for the newer, easier-to-trade structures are discovering it may not be so simple to tap the ETF boom.
It’s common for a mutual fund to outperform its benchmark over a short time horizon – a few years – as happened with Cathie Wood’s ARKK. But new research shows that mutual funds fail dismally when performance is measured over the long horizons that retirement-focused investors face.
