Wall Street’s vaunted leveraged finance desks are reeling. Billions of dollars in losses on mistimed loans have forced them to dramatically scale back lending, leaving the private equity firms that rely on them to help fund acquisitions in a bind.
The S&P 500 is rising after falling the past four sessions as equites have shown some volatility amid festering uncertainty regarding the ultimate economic impact of aggressive global central bank tightening.
Some of the world’s largest economies ramped up calls to increase support to troubled emerging countries ahead of a Group of 20 finance chiefs meeting.
On February 5, 2023, Charlie Munger sat down as the Chairman Emeritus of the Daily Journal Corporation (DJCO) to answer questions from shareholders and the public.
The common narrative is that we’ve (the US) been enjoying a long period of globalization and now that it is going into reverse, it will upend many of the benefits brought by globalization, to the US in particular.
Microchips are the foundation of the modern economy, but what are the geopolitical implications of this new power player? In this episode of The Active Share, Hugo spoke with Tufts University associate professor Chris Miller, author of the book Chip War: The Fight for the World’s Most Critical Technology, about the decades-long, globe-spanning battle to control one of the world’s most critical resources.
From Home Depot Inc. to Walmart Inc., the biggest US retailers are about to grab the earnings spotlight, providing investors crucial insight into consumer demand, the trajectory of economic growth and Corporate America’s profitability.
Federal Reserve officials like to call their decisions “data dependent.” Business leaders say it a little differently, often “data driven.” The point, in both cases, is something like: “We consider relevant data when making important decisions.”
The US Supreme Court is poised to hear a case that could spell danger for the internet’s most lucrative business: online advertising.
What is social death, and how can you harness it in your marketing?
The US government is exploring narrowly focused trade pacts on critical minerals with Japan and the UK, in addition to talks with the European Union, the latest salvo in its push to counter Chinese influence in key sectors, officials familiar with the matter said.
Federal Reserve officials stressed the need to keep raising interest rates, including the potential for borrowing costs to peak at a higher level than previously expected amid ongoing price pressures.
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
Northern Trust Asset Management (NTAM) is a leading global investment manager with $1 trillion in assets under management. It released “The Risk Report” late last year, which is an aggregated analysis of 280 institutional equity portfolios across the globe. The report revealed six common drivers of unintended investment results. As an investment manager that employs a quantitative risk-aware approach, NTAM regularly partners with investors and their consultants to provide them with a distinct analysis of underlying risk components impacting their portfolios’ ability to achieve intended outcomes. Of utmost importance to our Advisor Perspectives listeners and readers, the findings of the research are as applicable to portfolios managed by advisors for individual investors as they are to institutional investors. NTAM does indeed serve individual advisors through a number of offerings, including Northern Mutual Funds, FlexShares ETFs, and Diversified Strategist model portfolios. NTAM’s purpose in conducting the research behind the Risk Report was to help investors make needed adjustments consistent with NTAM’s core philosophy, which is that investors should get paid for the risks they take – in all market environments and in any investment strategy.
Ignoring the Federal Reserve’s determination to keep raising rates and hold them there is a wildly profitable trade on Wall Street right now. It’s trying to swim against the rising market that carries risks.
At the beginning of the season, not many predicted that the Philadelphia Eagles would be in the Super Bowl this year.
The greatest anomaly is that despite decades of poor performance and the failure to effectively hedge exposure to conventional security classes, assets under management among hedge funds have grown from about $300 billion 25 years ago to about $5 trillion today.
U.S. stocks declining, as the markets trim a strong start to 2023 ahead of this week's host of key economic and earnings data, as well as the Fed's monetary policy decision.
Over the past couple of decades, I’ve told clients many very important things. Most of them are timeless, which is why I find myself saying the same things repeatedly. Here are the top 10, and I’ve saved my most important for last.
The memory-chip sector, famous for its boom-and-bust cycles, had changed its ways.
Slowly but surely, investment bankers from New York to London are chipping away at the tens of billions of dollars in leveraged buyout debt that remains famously stuck on their balance sheets.
Formed in 2005 to serve educational and resource needs of professional business advisors, the Exit Planning Institute is a trendsetter in the field of exit planning for business owners across the globe. It is the only organization that offers the Certified Exit Planning Advisor Program (CEPA) and qualifies for continuing education credits with 12 major professional associations, making it the most widely endorsed professional exit planning program in the world.
Six Wall Street banks are being pressed by a group of shareholders to move faster on reducing their financing of fossil fuels to meet global climate goals.
It is possible, contrary to the predictions of most economists, that the US will get through this disinflationary period and make the proverbial “soft landing.”
U.S. equities finished mixed in a lackluster trading session, as Q4 earnings season shifted into a higher gear today.
U.S. stocks are extending a late last-week rally, with Q4 earnings season set to shift into high gear.
The world’s leading CEOs, politicians, and various do-gooders were in Davos, Switzerland, this week, discussing ways to solve our collective problems and create opportunities for their own companies. The most important conversations were off the record and many of the public speeches were simply performance art.
Here are seven mindset shifts to stretch your thinking to generate only ideal clients this year.
Behind the five-decade low US unemployment rate of 3.5% lies a 2.6 million-person mystery.
In 1817, David Ricardo developed his theory of comparative advantage to explain why countries engage in trade together, even when one country has an absolute advantage.
Big global banks are eying some of the world’s most fragile countries for a new experiment in financial engineering: debt relief in exchange for environmental protections.
Money managers for the ultra-wealthy are eschewing traditional private equity funds and betting directly on upstart companies.
Probability-based retirement income strategies are highly sensitive to the capital market assumptions used in Monte Carlo analysis. Seemingly small changes in those assumptions can mean the difference between projecting a comfortable lifestyle and financial ruin.
VettaFi’s Todd Rosenbluth evaluates Nate’s 2023 ETF predictions. Axel Merk spotlights the Merk Stagflation ETF (STGF) and the VanEck Merk Gold Trust (OUNZ). ETF Think Tank’s Cinthia Murphy offers an inside look at the booming ETF white labeling business.
Tesla Inc. shares kicked off the new year on an ominous note, buckling this week under renewed concerns about weakening demand for its electric cars, and sending its market value briefly below Facebook parent Meta Platforms Inc.’s for the first time in over a year.
Welcome to 2023. It’s Forecast Season on Wall Street, the time when everyone tells us what to expect for the new year. Do they really know? Of course not. Forecasters don’t know, investors know they don’t know, yet we all go through this exercise anyway.
Investors who use a 60/40 portfolio had a rough year. In the past, putting 60% in stocks and 40% in bonds has often helped investors hedge against losses in either asset class. But 2022 had other ideas.
Investors are no longer turning a blind eye to risks facing Apple Inc., an about-face that has taken the iPhone maker’s market value below $2 trillion and threatens more pain for the stock in the months ahead.
U.S. equities closed out 2022 in the red, and all three major indexes registered solid losses on a yearly basis. The stock market posted its worst yearly decline since 2008.
The health of borrowers is the key concern for all of finance in the coming year.
Much ink has been spilled over the death of the 60/40 portfolio.
They don’t make technology predictions like they used to.
What will the workplace look like a year from now? The snow globe of work has been undeniably shaken to its core since the arrival of Covid-19.
Enjoy the latest Newsletter from Harold Evensky.
U.S. stocks continue to oscillate around the unchanged mark.
U.S. stocks are rising in pre-market action in the first trading session of the week following the long holiday weekend.
U.S. equities are modestly higher but near the unchanged mark in pre-market action.
U.S. stocks are falling sharply, giving up yesterday's rally.
The Fed’s repeated manipulation of the price of capital has weakened productivity growth and reduced economic activity. Ultimately it is the citizens that pay the price.
