A Bonus Matters More When Its Size Is a Pleasant Surprise: Sarah Green Carmichael
The yearly paying out of lump sums to reward top talent is such a standard, established practice, questioning it may seem a little quaint. More than three-quarters of U.S. companies use performance incentives of some kind. Yet the fact remains, we don’t really know how well they work. Do they encourage people to work harder and smarter?
America's Driving Habits as of November 2021
"Travel on all roads and streets changed by +12.3% (+29.2 billion vehicle miles) for November 2021 as compared with November 2020. Travel for the month is estimated to be 267.5 billion vehicle miles." The 12-month moving average was up 0.92% month-over-month and up 9.5% year-over-year. If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.88% month-over-month and up 9.1% year-over-year.
Do Intangible Assets Explain the Failure of the Value Factor?
Is the failure of the value factor over the last decade due to the inability of book value to incorporate so-called “intangible assets,” such as the intellectual property that has propelled companies like Amazon, Alphabet and Apple? New research provides the answer.
Howard Marks’s latest memo considers one of investing’s most fundamental questions: when to sell. Howard explains that it’s foolish to sell because prices are up and because they’re down – and why, most of the time, staying invested is ultimately “the most important thing.”
Investing in a Fast‑Moving Cycle
Uncertainty has become an ongoing theme in markets, economies, and communities everywhere, and in this environment, PIMCO investment professionals gathered – virtually, once again – for our recent Cyclical Forum.
Millennials Are Finally Spending Like Grown-Ups
Millennials are growing up. After spending years splashing out on everything from skydiving excursions to Instagrammable vacations in Peru, 30-somethings with decent-paying jobs are making lasting purchases, buying cars, houses and everything inside them.