Beware of companies that rapidly grow their assets on their balance sheets. The stocks of those companies are more likely to “crash” over the next three to five years, according to newly published research.

Given the instability that the coronavirus has created, what I am going to say may sound highly unusual. This is a great time for financial advisors who can offer a higher level of service and deliver more to their clients. But how do you humbly and graciously communicate that without putting on “the marketing mask?”

On Thursday, March 12, Loomis Sayles’ Full Discretion team held a conference call to discuss current conditions, upcoming challenges and potential portfolio positioning and solutions. Here, portfolio managers Matt Eagan and Elaine Stokes summarized a few key points.

Compared to past viral outbreaks, COVID-19 appears to be less fatal, yet it has received far more media coverage. Paradoxically, that may be part of the reason why it’s had a much bigger impact on public health and the economy relative to those other diseases.

The Loomis Sayles Alpha Strategies team shares some insights as markets grapple with three issues: the impact of COVID-19, an oil fight and a crisis of confidence in Western governments.

Financial markets across the globe have been dealt a one-two punch—the spread of the coronavirus and an oil price war that caused prices to plummet. Glenn Voyles, Matt Fey and Bryant Dieffenbacher of Franklin Templeton Fixed Income examine the impact on high-yield credit.

If I had written a commentary on how 4,000 people dying from the flu would topple global financial markets, I think I would have been deemed insane. Yet today that is exactly the story.

We are likely experiencing more than just a “soft patch” currently despite the mainstream analysts’ rhetoric to the contrary. There is clearly something amiss within the economic landscape, even before the impact of COVID-19, and the ongoing decline of inflationary pressures longer term was already telling us just that.

Many questions – and few answers – surround the coronavirus epidemic and its implications for financial markets. Read Howard Marks’s latest memo, in which he shares his own questions, guesses, observations and inferences to help make sense of the potential impact of the virus on global economies and markets.

I read your article about the person with a boss who falls asleep and it inspired me to write. What about a boss who is a fluffy, “everything is beautiful” person who never admits anything is wrong?

In a surprise move, the Federal Reserve on Tuesday lowered the target range for the federal funds rate, its key benchmark interest rate, by 50 basis points,or half a percentage point, to a new range of 1% to 1.25%. The reasoning behind the move was concern about the “evolving risks” to the economy posed by the coronavirus.

There are tangible signs economies in the MENA region have reformed and evolved over the past decade, according to Franklin Templeton Global Sukuk and MENA Fixed Income’s Dino Kronfol, and Franklin Templeton Emerging Markets Equity’s Bassel Khatoun and Salah Shamma. They outline the opportunities they see in the year ahead.

Policymakers and too many economic commentators fail to grasp how the next global recession may be unlike the last two. In contrast to recessions driven mainly by a demand shortfall, the challenge posed by a supply-side-driven downturn is that it can result in sharp drops in production, generalized shortages, and rapidly rising prices.

The spread of the coronavirus has created heightened market volatility in recent weeks, but the Franklin Templeton Multi-Asset Solutions team remains focused on long-term market fundamentals. Here, Ed Perks and Gene Podkaminer offer an update on how they are approaching the situation, and which countries appear more insulated to growth shocks.

Overall, the net effect of this is that funded status stayed roughly the same, likely frustrating sponsors who saw assets rise without a corresponding increase in funded position.

Commodities look oversold right now, meaning there could be some potentially attractive buying opportunities. Brent crude oil, the global benchmark, traded below $50 per barrel on Friday for the first time since July 2017, while copper remained mostly range-bound.

First, this is going to be a long slog. The virus will spread slowly but widely. The containment measures are simply buying time. There’s no need to panic, but we should all take common-sense protective measures. Second, as usual, I am the “Muddle Through guy.”

human lives has indeed been unnerving and regrettable. However, fear can lead investors to make irrational choices. We acknowledge that the virus is a global growth risk, and the situation will probably get worse before it gets better. But we suggest focusing on fundamentals and distinguishing between short-term tumult and long-term impact.

On how the investment industry commercialized “socially responsible investing,”
On how financial marketers built a mythology around the analytical tool ‘ESG,’
On how the United Nations abetted the sale of private profit as public good,
And why these triumphs of free enterprise obstruct progress on climate change.

I don’t believe they really want socialism. Few even understand what it is. What they want is change. They see little hope for improvement in their situations, no matter how hard they work and sacrifice. They don’t see anyone in authority trying to help them. So, when someone offers what sound like easy answers, they jump aboard.

The coronavirus outbreak and the Democratic primary have affected sector leadership. However, we’re keeping our sector views unchanged—for now.

Every January, I start keeping track of the predictions for the upcoming year I hear in the financial media and from advisors and investors. Today we’ll look at a list of “sure things” I’ve been hearing for 2020.

Friends of mine who are enduring the crucible of the loss of their spouses tell me that one of the hardest things, along with the grieving process, is the uncertainty surrounding finances.

In 2007, I was at a conference where Paul McCulley, who was with PIMCO at the time, was discussing the idea of a “Minsky Moment.” At that time, this idea fell on “deaf ears” as the markets, and economy, were in full swing. However, it wasn’t too long before the 2008 “Financial Crisis” brought the “Minsky Moment” thesis to the forefront.

So far in 2020, the yield on the 10-year Treasury has averaged 0.01 percent when adjusted for inflation. Since the end of January, it’s actually dipped below 0 percent, trading as low as negative 0.14 percent on January 31.

A review of last month’s market-moving events across countries and asset classes.

Catherine explains the economic and political constraints leaders face in responding to the recent wave of global protests.

The essence of the activities we enjoy – how we have “fun” – reveals a key personality trait. Identifying that trait and that of your prospects and clients is critical to providing good advice.

Learn more about the remarkable lives and contributions of three leading African American economists.

In today’s society people are choosing to have fewer children, and delaying having children at all into later, less fertile years. These two factors have driven fertility rates below replacement level in most of the world, but a crucial third factor gets little attention and is having a profound impact on fertility: toxicity. The economic and social ramifications will be severe.

Annuities can reduce the risk of running out of money in retirement, but they protect against this risk in different ways. I’ll compare retirement outcomes of SPIAs to GLWBs to understand the key product differences.

CLSA predicts that the price of gold will beat the S&P 500 in 2020. The Hong Kong investment firm has an impressive track record when it comes to making market predictions—last year it had a 70 percent hit rate—so it may be prudent to take this one seriously.

An apology is a delicate thing. You get one chance, so don’t do it badly and embitter the person further. If you’re going to apologize, then say you’re sorry like you mean it.

The coronavirus outbreak that started in China could certainly be considered an unexpected market shock, one which looks to remain a concern for a while longer.

In the annual letter to Berkshire Hathaway shareholders in early 2000, Warren Buffett attempted to remind everyone why value investing works, despite the financial euphoria all around him at that time. We will revisit this valuable lesson and draw implications for reviving enthusiasm for value investing at a point eerily similar to early 2000.

Two topics seemed to dominate at this year’s Inside ETFs conference: the rise of ESG investing, and the emergence of so-called “nontransparent” ETFs. Both promise some big changes to financial markets.

In 2018 I hit a midlife crisis. Some people get a red convertible; I started to pay attention to my health.

Although air travel isn’t off to a great start this year, largely due to airlines canceling flights on fears of the coronavirus spreading further outside China, the International Air Transport Association (IATA) predicts 2020 to be strong in terms of travel demand.

Equities saw strong 2019 performances across the globe, so the big question for investors is whether the bullish momentum can continue. Templeton Global Equity Group’s Alan Bartlett and Tony Docal provide a look at what drove the positive performances around the globe in late 2019, and how they are poised to take advantage of any potential dislocations in the year ahead.

Read the latest Weekly Headings by CIO Larry Adam.

Because it’s the first of the 12 zodiacs, the Year of the Rat is seen as a time of beginnings and renewals. That brings us hope, especially paired with the recent positive development in the U.S.-China trade war.

Good things are happening, too, and will keep happening as we move through the 2020s. Occasionally I like to note them, and that’s what we will do today.

Among the biggest contributors to the bitcoin rally is the hope that 2020 could finally see institutional investors move into the digital field en masse, prompted by growing client demand and more attractive ways to get exposure.

The problem with low interest rates for so long is they have encouraged the misallocation of capital. We see it everywhere throughout the entirety of the financial system from consumer debt, to subprime auto-loans, to corporate leverage, and speculative greed.

Quantitative value investors have traditionally relied on price-to-book as the metric to classify stocks. But new research shows that price-to-enterprise value is a more powerful tool to construct portfolios. That research also sheds light on the question of whether the value premium is risk- or behaviorally-based.

Every year, the markets provide us with lessons on prudent investment strategies. Many times, markets offer investors remedial courses, covering lessons it had taught in previous years. That’s why one of my favorite sayings is that there’s nothing new in investing, only investment history you don’t yet know.

Despite Sauron and Einstein’s failed attempts at unified theory, 2019 was simply the tenth year whereby interest rates were low and went lower, credit remained both cheap and plentiful, the economy was “good enough,” and those who can print money re-dedicated themselves to a willingness to print money. The logical conclusion to this set of events is to buy and hold U.S. equities. Drop the mic—again.

A new decade, seismic shifts and the importance of diversification.

Research Affiliates provides its outlook for 2020 and discusses where it sees attractive return opportunities across the globe.