Having a reliable sales and marketing system that works automatically in the background, bringing in new, qualified leads every month instead of having to go on the hunt, allows you to prioritize your work in a meaningful way.
Of course, over 300,000 people getting new jobs is good in itself, particularly for those with newfound opportunities. But, for the last several years, as the “great resignation” took hold, there were not many new workers coming into the workforce, leading to falling unemployment.
The first few years of the 2020s have seen a number of acute economic, financial, and geopolitical disruptions on a worldwide scale, and it will take time for the ultimate consequences of these shocks to be fully felt.
We have used the word “unprecedented” to talk about the economy during and after COVID. We have never before locked down economic activity, while printing trillions of new dollars to help finance trillions of extra government borrowing to pay people not to work.
Two weeks ago, we noted that Congress would soon raise the debt ceiling, but that this could set up unexpected consequences for investors. Now that the debt ceiling is raised until 2025, the US Treasury is free to fund the government’s liabilities since January.
As Pride month begins, financial advisors have an opportunity to reflect on how trans-friendly their practices are and take steps to make them warmer, more inclusive, and more appealing to transgender clients.
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the May 31, 2023 close.
The first step in winning the “war for talent” is understanding what your potential employees want.
In the United States, Core PCE Inflation is still 5.0% after a recent reversal in disinflation. This measure is followed by the Fed and excludes volatile food and energy inflation.
Tired of the AI hype yet? It’s OK, I understand. I’m tired of it too. The pace of human progress — and our insatiable need to be entertained by the shock of the new — seems to be forevermore in the “hockey stick” part of the growth curve.
I will analyze the pros and cons of three funds to access the reinsurance market.
Structural changes in the world’s energy systems represent significant investment potential across an array of sectors. Analysts on our equity research team offer insights into the impact and opportunities.
New findings from EBRI’s recently released 2023 Retirement Confidence Survey reveal what’s top of mind for American workers and retirees. Below, we look at two key findings – alongside ways the industry is responding.
When portfolio manager David Lipner said he was quitting billionaire Izzy Englander’s Millennium Management to join a rival, the hedge fund countered with an unusual proposal: A one-year paid sabbatical and an incentive upon return if Lipner stayed.
Leading into the weekend, when the debt ceiling had not been settled, markets were exhibiting very interesting positioning.
The G7 countries may have set out to deter China without escalating the new cold war, but the perception in Beijing suggests that they failed to thread the needle at their recent summit in Hiroshima.
Ross Perot Jr., whose family is one of the largest independent property developers in the country, warned of a looming real estate recession if banks don’t start lending again.
The US Federal Reserve is adrift, and it has only itself to blame. Regardless of whether its policy-setting committee announces another interest-rate hike in June, its top priority now should be to address the structural weaknesses that led it astray in the first place.
VettaFi’s Financial Futurist Dave Nadig sat down with ROBO Global’s senior research analyst Zeno Mercer for a wide-ranging discussion about AI. Together, the two explored industries that could benefit from AI, those facing existential threats, and how the smartest AI analysts see it.
Stock investors who planned for one thing in 2023 are getting something else entirely. Now, with the tech-obsessed market at risk of running away from them, the race is on to catch up.
Central bank digital currencies (CBDCs) are the next step in financial innovation. The government will do what it deems in its best interests. CBDCs will replace physical currency; it's just a question of when.
As other nations seek to become less dependent on the U.S. dollar, rumors of the greenback’s potential demise continue to swirl. Can the dollar remain king of the world’s reserve currency?
If you were doubting whether the age of AI has arrived, NVIDIA’s stock performance this week may have given you second thoughts.
Exchange-traded funds tracking companies that are linked to artificial intelligence may see their assets grow three-fold to $35 billion by 2030, a report by Bloomberg Intelligence shows.
According to the company’s investor relations page on this REIT, Simon Property Trust (SPG) is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations and an S&P 100 company.
Personal income (excluding transfer receipts) rose 0.5% in April and is up 5.7% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.2% month-over-month and 1.2% year-over-year.
War, inflation, rising rates, banking chaos, and recession are among the challenges facing markets. Investors must balance these shorter-term risks with the long-term return prospects of equities.
Over the past decade or so, there has been a broad trend in the industry toward closing and freezing defined benefit plans.
Investors should rely on the wisdom of crowds as expressed through bond yields, not credit rating agencies, to judge fixed-income credit risk.
In 2011, markets were relatively flat during the year before Congress and the White House (temporarily) buried the hatchet with the passage of the Budget Control Act on August 2, 2011.
The terms private credit and private debt are often used interchangeably to describe direct origination credit strategies. But, the business is also known by another name: non-bank lending.
Microsoft Corp. is bringing its Bing search engine to OpenAI Inc.’s ChatGPT, further tightening ties with the artificial intelligence startup in a bid to challenge Google.
One metric I look at fairly often for various countries is the relationship between the performance of stocks vs. bonds. The idea is straightforward enough: when stocks are outperforming bonds, it tends to be associated with a growing economy.
Diversification is a cornerstone of thoughtful, long-term focused investing. Incorporating assets and asset classes that don’t always move in tandem – that is, their returns aren’t strongly correlated – can help temper stock and bond market risk.
Here’s what we learned in earnings season about how companies are coping with a particularly tricky set of macroeconomic conditions.
The view by many is that sustainable investing is concessionary in that financial results are forgone in order to achieve sustainable outcomes. Our historical analysis shows that this assertion isn’t true and that unique ESG data can be predictors of company results.
Tencent Holdings Ltd. posted its fastest pace of revenue growth in more than a year but earnings missed estimates, reflecting an uneven internet sector recovery during China’s post-pandemic reopening.
Month-over-month nominal retail sales in April were up 0.42% and up 1.60% YoY. However, after adjusting for inflation, real retail sales increased by 0.05% and were down 3.20% YoY.
Rising rates in today's fixed-income markets have led to more attractive bond prices and higher yields, alleviating some of the challenges facing income investors.
The paradox that this marriage potential created at the college was that the odds are good, but the goods are odd. This is the statement that can be made for common stock investing today.
Alphabet Inc. is back in the game. The artificial intelligence game, that is.
The economy co-exists and interacts with broader society, including government. Public policies—and the political processes that determine them—can change the economy in deep and lasting ways. We may not like them, but we can’t ignore them.
It would appear that the decline in European natural gas prices has contributed to an increase in Eurozone GDP estimates for the year. Once prices crossed below $50, GDP estimates began to rise, and now the consensus expects .6% GDP growth from the Eurozone this year.
Portfolio manager John Paul Lech explores the defining changes of the last three years. Here he explains how he is navigating the new era of rising interest rates and financial tightening.
China reported year-over-year inflation last night at just 0.1%, 0.2% lower than expectations. Clearly, China’s reopening is not creating price pressures, which brings the strength of the reopening into question.
Stock selection in a climate investing strategy takes more than just avoiding companies exposed to global warming risks. The process should intersect with an active search for diverse opportunities among companies helping to fight climate change, but with high-quality business models, too.
As investor interest in ETFs that promote higher environmental, social, and governance standards fades, more issuers are shutting down these funds.
Here’s why I started the Externship and why it matters.
For firms looking to hire tech talent this year, here are some critical components to consider.
Many investors are choosing to access bitcoin and broader crypto themes through traditional ETF wrappers due to their relative simplicity and familiarity.
Portfolio Manager John Paul Lech explores the defining changes of the last three years and how they have informed his approach to the years ahead.
Key Takeaways
The U.S. regional banking crisis is intensifying as rising interest rates put smaller banks at risk, leading to significant losses in the sector. Amid the turmoil, gold and gold mining stocks may offer investors a potentially safer alternative to manage risk.
Berkshire Hathaway Inc. Chief Executive Officer Warren Buffett made his name by being greedy when others were fearful and fearful when others were greedy, dispensing folksy wisdom along the way.
It is frustrating for us to try and add to our great team when there are so few “good” people in the market from which to choose.
Despite its commitment to curbing China’s geopolitical ambitions, the Biden administration has done little to counter the country’s expanding economic footprint in South America. Given the region’s crucial role in the fight against climate change, the US can no longer afford to take its southern neighbors for granted.
The pandemic hurt small retailers by hastening the transition to digital commerce and emptied office buildings by turning living rooms into workspace. But it also fueled a warehouse building boom and unleashed a torrent of pent-up travel-and-leisure spending when economies reopened, underscoring the diversity of commercial real estate.
Yesterday JP Morgan introduced a new model to quantify the last 20 years of Federal Reserve statements and speeches. While we aren’t privy to the details of the AI model, we will just assume that the model properly captures dovish and hawkish language.
Although investing in in-state municipal bonds may have tax advantages, there can be good reasons to buy out-of-state munis.
With the European Market’s earning season fully upon us, let’s look at expectations for the month ahead. According to our proprietary analytics, the European energy and real estate sectors have experienced the highest level of downward revision to sales of all sectors on both a one- and three-month basis.
“Be careful in the equity markets,” warned Larry Summers. The bond market is predicting a recession but, he said, the equity market has not priced that in.
In the spirit of being a good corporate citizen working to build a better world, Franklin Templeton is launching a Diversity, Equity and Inclusion (DEI) webpage that will highlight the company’s DEI efforts.
Investors in European bank shares have been rattled by recent turmoil in the sector. But many banks are in much better shape than widely perceived, and the sector is subject to much tighter regulation than in the US.
The failures of Silicon Valley Bank, Credit Suisse Group AG and others have gotten financial authorities thinking again about bank runs and liquidity regulations — and whether some rules ought to be tweaked to make the system safer.
Alphabet Inc.’s Google has consolidated its artificial intelligence research groups into one unit, the company’s latest move to keep from falling behind in the AI race.
Principal Financial Group® recently released the results of an extensive survey it conducted asking advisors and employers their expectations for the future of retirement. Among the key trends it identified were an aging workforce with evolving financial planning needs. At the other extreme, Gen Z workers are beginning their careers with investment and planning preferences that differ markedly from older generations. Other findings included the anticipated need for personalization, financial wellness monitoring and counseling, and better services for retirement planning.
As Microsoft Corp., Alphabet Inc., and — now — Amazon.com Inc. blaze ahead in the race to deploy advanced chatbots like ChatGPT, one rival remains nowhere to be seen. Apple Inc. may be biding its time for the technology to mature...
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.
April is Financial Literacy month, but all that elicits from the advice industry is a collective yawn.
Chinese economic data blew expectations out of the water this week, reflecting a strong comeback for the Asian giant as it finally emerges from the world’s most restrictive pandemic-era lockdown.
Corporate bond investors may be wondering if banking sector turmoil will affect financial institution bond issuers. Here's what to know now.
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.
The surprisingly resilient equity market is invigorating a time-honored options strategy, driving it to the best start of a year in two decades.
This week as regional banks start reporting earnings we will get a better look at the lasting effects of the bank crisis kicked off by the failure of Silicon Valley Bank last month. Looking at recent earnings forecast revisions, regional banks appear particularly exposed to short- and longer-term headwinds.
The value style is in the early stages of what Mutual Series believes could be a multi-year outperformance relative to growth.
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.
Disagreement is bubbling up at the Federal Reserve as dueling growth and inflation risks pull policymakers in different directions. If you think the debate seems fiery now, just wait until the third quarter, when recession may be at the nation’s doorstep.
Amazon.com Inc. is joining Microsoft Corp. and Google in the generative artificial intelligence race, announcing technology aimed at its cloud customers as well as a marketplace for AI tools from other companies.
Why should you do highly valuable work for free?
The race for the first leveraged Bitcoin exchange-traded fund is heating up as applications land amid a surge in cryptocurrency prices.
Xi Jinping led a parade of officials this spring vowing to revive China’s economy, hoping to repair the damage wrought by years of Covid Zero and regulatory clampdowns. Some of the world’s biggest investors are selling anyway.
Born of the Global Financial Crisis, additional tier-1 securities were designed to absorb bank losses in times of turbulence and maintain financial safety at no cost to taxpayers. Despite good intentions, we’ve found AT1s to be flawed instruments that are contingently junior to common equity in practice.
I “interviewed” Chat GPT 4.0 and asked it questions you might find of interest. Then I asked it to suggest additional questions I should have asked.
Volatility can be challenging but it also creates opportunities. In our view, rotating across sectors within the investment grade market is the most effective way to take advantage of price fluctuations and generate alpha.
It is not every day that I read a prediction of doom as arresting as Eliezer Yudkowsky’s in Time magazine last week. “The most likely result of building a superhumanly smart AI, under anything remotely like the current circumstances,” he wrote, “is that literally everyone on Earth will die.
How do you serve up a culture that supports growth? I have three recommendations.
Here are five ways to respond when you know someone is lying, blowing you off, or dodging your questions.
As it turns out, culture has a lot to do with how we operate. But how difficult is it to measure? In this episode of The Active Share, Hugo sits down with Dr. Tom Reader, an associate professor of organizational psychology at the London School of Economics, to discuss the broad role culture plays in all kinds of organizations; why great cultures are the defining feature of good companies; and how engaging with diverse perspectives can help foster meaningful cultural growth and innovation.
Diversity & Inclusion
How to Escape the Feast or Famine Cycle
Having a reliable sales and marketing system that works automatically in the background, bringing in new, qualified leads every month instead of having to go on the hunt, allows you to prioritize your work in a meaningful way.
Best Part of Jobs Report
Of course, over 300,000 people getting new jobs is good in itself, particularly for those with newfound opportunities. But, for the last several years, as the “great resignation” took hold, there were not many new workers coming into the workforce, leading to falling unemployment.
The Aftershock Economy
The first few years of the 2020s have seen a number of acute economic, financial, and geopolitical disruptions on a worldwide scale, and it will take time for the ultimate consequences of these shocks to be fully felt.
Jobs With Little Growth Means Less Productivity
We have used the word “unprecedented” to talk about the economy during and after COVID. We have never before locked down economic activity, while printing trillions of new dollars to help finance trillions of extra government borrowing to pay people not to work.
International Demand Explodes for Short-Term US Treasuries
Two weeks ago, we noted that Congress would soon raise the debt ceiling, but that this could set up unexpected consequences for investors. Now that the debt ceiling is raised until 2025, the US Treasury is free to fund the government’s liabilities since January.
How to Be a Trans-Friendly Financial Advisor
As Pride month begins, financial advisors have an opportunity to reflect on how trans-friendly their practices are and take steps to make them warmer, more inclusive, and more appealing to transgender clients.
The S&P 500, Dow and Nasdaq Since Their 2000 Highs
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the May 31, 2023 close.
How to Recruit Top Talent
The first step in winning the “war for talent” is understanding what your potential employees want.
U.S. Core PCE Inflation is Still Not Coming Down
In the United States, Core PCE Inflation is still 5.0% after a recent reversal in disinflation. This measure is followed by the Fed and excludes volatile food and energy inflation.
Future of Finance: 5 Hard Truths About How AI Impacts the Real World
Tired of the AI hype yet? It’s OK, I understand. I’m tired of it too. The pace of human progress — and our insatiable need to be entertained by the shock of the new — seems to be forevermore in the “hockey stick” part of the growth curve.
Which Fund to Choose for Exposure to the Reinsurance Risk Premium
I will analyze the pros and cons of three funds to access the reinsurance market.
Energy Transition Generates Potential Investment Opportunities
Structural changes in the world’s energy systems represent significant investment potential across an array of sectors. Analysts on our equity research team offer insights into the impact and opportunities.
What’s Impacting Retirement Readiness Today
New findings from EBRI’s recently released 2023 Retirement Confidence Survey reveal what’s top of mind for American workers and retirees. Below, we look at two key findings – alongside ways the industry is responding.
Hedge Funds at War for Top Traders Dangle $120 Million Payouts
When portfolio manager David Lipner said he was quitting billionaire Izzy Englander’s Millennium Management to join a rival, the hedge fund countered with an unusual proposal: A one-year paid sabbatical and an incentive upon return if Lipner stayed.
Warming to Duration
Leading into the weekend, when the debt ceiling had not been settled, markets were exhibiting very interesting positioning.
America and China Are on a Collision Course
The G7 countries may have set out to deter China without escalating the new cold war, but the perception in Beijing suggests that they failed to thread the needle at their recent summit in Hiroshima.
Billionaire Perot Warns of Real Estate Recession as Loans Dry Up
Ross Perot Jr., whose family is one of the largest independent property developers in the country, warned of a looming real estate recession if banks don’t start lending again.
Why the Fed Is Hard to Predict
The US Federal Reserve is adrift, and it has only itself to blame. Regardless of whether its policy-setting committee announces another interest-rate hike in June, its top priority now should be to address the structural weaknesses that led it astray in the first place.
VettaFi Viewpoints: Dave Nadig & Zeno Mercer on AI’s Disruptive Potential
VettaFi’s Financial Futurist Dave Nadig sat down with ROBO Global’s senior research analyst Zeno Mercer for a wide-ranging discussion about AI. Together, the two explored industries that could benefit from AI, those facing existential threats, and how the smartest AI analysts see it.
Stock Traders Turn to Options for Desperate Chase to Catch the Tech Rally
Stock investors who planned for one thing in 2023 are getting something else entirely. Now, with the tech-obsessed market at risk of running away from them, the race is on to catch up.
Central Bank Digital Currencies are Coming
Central bank digital currencies (CBDCs) are the next step in financial innovation. The government will do what it deems in its best interests. CBDCs will replace physical currency; it's just a question of when.
Making Cent$ Of the Dollar: Understanding the Challenges to Its Global Reserve Currency Status
As other nations seek to become less dependent on the U.S. dollar, rumors of the greenback’s potential demise continue to swirl. Can the dollar remain king of the world’s reserve currency?
The AI Era Unleashed: How NVIDIA’s Stock Boom Reflects The Future Of Tech
If you were doubting whether the age of AI has arrived, NVIDIA’s stock performance this week may have given you second thoughts.
AI-Focused ETF Assets Could Triple to $35 billion by 2030
Exchange-traded funds tracking companies that are linked to artificial intelligence may see their assets grow three-fold to $35 billion by 2030, a report by Bloomberg Intelligence shows.
This A Rated REIT Just Increased Their Dividend Offering a 7% Current Yield
According to the company’s investor relations page on this REIT, Simon Property Trust (SPG) is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations and an S&P 100 company.
The Big Four: Real Personal Income Inches Up
Personal income (excluding transfer receipts) rose 0.5% in April and is up 5.7% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.2% month-over-month and 1.2% year-over-year.
The Quality Spectrum: Stability in an Unstable World
War, inflation, rising rates, banking chaos, and recession are among the challenges facing markets. Investors must balance these shorter-term risks with the long-term return prospects of equities.
$20 Billion Club Strategy Series – Benefits Policy
Over the past decade or so, there has been a broad trend in the industry toward closing and freezing defined benefit plans.
The Bond Market Knows More than the Credit Rating Agencies
Investors should rely on the wisdom of crowds as expressed through bond yields, not credit rating agencies, to judge fixed-income credit risk.
Investors Only Have Eyes for Cash
In 2011, markets were relatively flat during the year before Congress and the White House (temporarily) buried the hatchet with the passage of the Budget Control Act on August 2, 2011.
Opportunity From Crisis: How Private Credit Stands to Benefit From Recent Tumult in the Banking System
The terms private credit and private debt are often used interchangeably to describe direct origination credit strategies. But, the business is also known by another name: non-bank lending.
Microsoft to Add Bing Search to OpenAI’s ChatGPT in Battle With Google
Microsoft Corp. is bringing its Bing search engine to OpenAI Inc.’s ChatGPT, further tightening ties with the artificial intelligence startup in a bid to challenge Google.
There is Something Rotten in China
One metric I look at fairly often for various countries is the relationship between the performance of stocks vs. bonds. The idea is straightforward enough: when stocks are outperforming bonds, it tends to be associated with a growing economy.
Wheat, Gold and the Pursuit of a Zero-Correlation Investment
Diversification is a cornerstone of thoughtful, long-term focused investing. Incorporating assets and asset classes that don’t always move in tandem – that is, their returns aren’t strongly correlated – can help temper stock and bond market risk.
Learnings from Earnings: Macro Crosscurrents Make Growth Elusive
Here’s what we learned in earnings season about how companies are coping with a particularly tricky set of macroeconomic conditions.
ESG X Big Data: Solving for the Double Bottom Line
The view by many is that sustainable investing is concessionary in that financial results are forgone in order to achieve sustainable outcomes. Our historical analysis shows that this assertion isn’t true and that unique ESG data can be predictors of company results.
Tencent’s Sales Rebound Though Concerns Persist on China Outlook
Tencent Holdings Ltd. posted its fastest pace of revenue growth in more than a year but earnings missed estimates, reflecting an uneven internet sector recovery during China’s post-pandemic reopening.
The Big Four: April Real Retail Sales Up 0.05%
Month-over-month nominal retail sales in April were up 0.42% and up 1.60% YoY. However, after adjusting for inflation, real retail sales increased by 0.05% and were down 3.20% YoY.
Getting Income From a Portfolio Is Easier These Days but Risks Remain. Model Portfolios May Be the Answer.
Rising rates in today's fixed-income markets have led to more attractive bond prices and higher yields, alleviating some of the challenges facing income investors.
Good Odds and Odd Goods
The paradox that this marriage potential created at the college was that the odds are good, but the goods are odd. This is the statement that can be made for common stock investing today.
Alphabet Adds $115 Billion in Value After Defying AI Doubters
Alphabet Inc. is back in the game. The artificial intelligence game, that is.
Plan for Paralysis
The economy co-exists and interacts with broader society, including government. Public policies—and the political processes that determine them—can change the economy in deep and lasting ways. We may not like them, but we can’t ignore them.
European Consumer Inflation Angst Isn’t Yet Receding
It would appear that the decline in European natural gas prices has contributed to an increase in Eurozone GDP estimates for the year. Once prices crossed below $50, GDP estimates began to rise, and now the consensus expects .6% GDP growth from the Eurozone this year.
Three Extraordinary Years in Emerging Markets. Part 3
Portfolio manager John Paul Lech explores the defining changes of the last three years. Here he explains how he is navigating the new era of rising interest rates and financial tightening.
China’s Soft Reopening
China reported year-over-year inflation last night at just 0.1%, 0.2% lower than expectations. Clearly, China’s reopening is not creating price pressures, which brings the strength of the reopening into question.
Homing in on Quality in Climate Investing Strategies
Stock selection in a climate investing strategy takes more than just avoiding companies exposed to global warming risks. The process should intersect with an active search for diverse opportunities among companies helping to fight climate change, but with high-quality business models, too.
ETF Issuers Are Losing Tolerance for ESG as Closures Surge
As investor interest in ETFs that promote higher environmental, social, and governance standards fades, more issuers are shutting down these funds.
The Future of the Externship Program
Here’s why I started the Externship and why it matters.
Winning the Race for Tech Talent
For firms looking to hire tech talent this year, here are some critical components to consider.
The State of Crypto ETFs in 2023
Many investors are choosing to access bitcoin and broader crypto themes through traditional ETF wrappers due to their relative simplicity and familiarity.
Three Extraordinary Years in Emerging Markets. Part 2
Portfolio Manager John Paul Lech explores the defining changes of the last three years and how they have informed his approach to the years ahead.
Key Themes Emerging From Q1 Earnings Reporting Season
Key Takeaways
Unraveling The Regional Banking Crisis Amid Skyrocketing Interest Rates
The U.S. regional banking crisis is intensifying as rising interest rates put smaller banks at risk, leading to significant losses in the sector. Amid the turmoil, gold and gold mining stocks may offer investors a potentially safer alternative to manage risk.
Berkshire Die-Hards Flock to Omaha as Market Volatility Reigns
Berkshire Hathaway Inc. Chief Executive Officer Warren Buffett made his name by being greedy when others were fearful and fearful when others were greedy, dispensing folksy wisdom along the way.
You Control More in the Hiring Process Than You Think
It is frustrating for us to try and add to our great team when there are so few “good” people in the market from which to choose.
Biden’s South American Blind Spot
Despite its commitment to curbing China’s geopolitical ambitions, the Biden administration has done little to counter the country’s expanding economic footprint in South America. Given the region’s crucial role in the fight against climate change, the US can no longer afford to take its southern neighbors for granted.
US Commercial Real Estate Outlook: Seeking Calmer Waters in Quality
The pandemic hurt small retailers by hastening the transition to digital commerce and emptied office buildings by turning living rooms into workspace. But it also fueled a warehouse building boom and unleashed a torrent of pent-up travel-and-leisure spending when economies reopened, underscoring the diversity of commercial real estate.
Hawkish & Uncertain
Yesterday JP Morgan introduced a new model to quantify the last 20 years of Federal Reserve statements and speeches. While we aren’t privy to the details of the AI model, we will just assume that the model properly captures dovish and hawkish language.
Three Extraordinary Years in Emerging Markets. Part 1
Portfolio Manager John Paul Lech explores the defining changes of the last three years and how they have informed his approach to the years ahead.
When to Consider Munis From Outside Your Home State
Although investing in in-state municipal bonds may have tax advantages, there can be good reasons to buy out-of-state munis.
European-Related Earnings Revisions
With the European Market’s earning season fully upon us, let’s look at expectations for the month ahead. According to our proprietary analytics, the European energy and real estate sectors have experienced the highest level of downward revision to sales of all sectors on both a one- and three-month basis.
Larry Summers – Get out of U.S. Equities
“Be careful in the equity markets,” warned Larry Summers. The bond market is predicting a recession but, he said, the equity market has not priced that in.
Women Changemakers in The Fintech Industry
In the spirit of being a good corporate citizen working to build a better world, Franklin Templeton is launching a Diversity, Equity and Inclusion (DEI) webpage that will highlight the company’s DEI efforts.
Is Europe Facing Another Banking Crisis?
Investors in European bank shares have been rattled by recent turmoil in the sector. But many banks are in much better shape than widely perceived, and the sector is subject to much tighter regulation than in the US.
The Only Way to Stop Bank Runs Is to Get Rid of Banks
The failures of Silicon Valley Bank, Credit Suisse Group AG and others have gotten financial authorities thinking again about bank runs and liquidity regulations — and whether some rules ought to be tweaked to make the system safer.
Google Merges DeepMind, Brain Research Units as AI Race Intensifies
Alphabet Inc.’s Google has consolidated its artificial intelligence research groups into one unit, the company’s latest move to keep from falling behind in the AI race.
Retirement Trends Anticipated by 2030
Principal Financial Group® recently released the results of an extensive survey it conducted asking advisors and employers their expectations for the future of retirement. Among the key trends it identified were an aging workforce with evolving financial planning needs. At the other extreme, Gen Z workers are beginning their careers with investment and planning preferences that differ markedly from older generations. Other findings included the anticipated need for personalization, financial wellness monitoring and counseling, and better services for retirement planning.
Hey Apple, Where Are Your Chatbots?
As Microsoft Corp., Alphabet Inc., and — now — Amazon.com Inc. blaze ahead in the race to deploy advanced chatbots like ChatGPT, one rival remains nowhere to be seen. Apple Inc. may be biding its time for the technology to mature...
Expenses Matter When Selecting Active Funds
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.
Why Financial Literacy Programs Fail
April is Financial Literacy month, but all that elicits from the advice industry is a collective yawn.
China’s Economic Recovery: 3 Key Sectors To Watch
Chinese economic data blew expectations out of the water this week, reflecting a strong comeback for the Asian giant as it finally emerges from the world’s most restrictive pandemic-era lockdown.
Will Banking Sector Issues Affect Corporate Bonds?
Corporate bond investors may be wondering if banking sector turmoil will affect financial institution bond issuers. Here's what to know now.
Move Over 60/40
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.
Failed Wagers Against Stocks Are Giving Put Sellers Best Return in Decades
The surprisingly resilient equity market is invigorating a time-honored options strategy, driving it to the best start of a year in two decades.
Regional Banks Face Headwinds
This week as regional banks start reporting earnings we will get a better look at the lasting effects of the bank crisis kicked off by the failure of Silicon Valley Bank last month. Looking at recent earnings forecast revisions, regional banks appear particularly exposed to short- and longer-term headwinds.
Value Stocks—Now and Always
The value style is in the early stages of what Mutual Series believes could be a multi-year outperformance relative to growth.
When Parsing the Banking Crisis, Don’t Forget Easy Money
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.
Fed Unity Is Showing Cracks at a Critical Time
Disagreement is bubbling up at the Federal Reserve as dueling growth and inflation risks pull policymakers in different directions. If you think the debate seems fiery now, just wait until the third quarter, when recession may be at the nation’s doorstep.
Amazon Joins Generative AI Race, Targets Tech at Cloud Customers
Amazon.com Inc. is joining Microsoft Corp. and Google in the generative artificial intelligence race, announcing technology aimed at its cloud customers as well as a marketplace for AI tools from other companies.
Stop Giving Away Your Value
Why should you do highly valuable work for free?
Bitcoin’s Resurgence Spurs Fresh Push to Launch Leveraged ETFs
The race for the first leveraged Bitcoin exchange-traded fund is heating up as applications land amid a surge in cryptocurrency prices.
Xi Pivot Fails to Stop Exodus by Biggest Investors in China Tech
Xi Jinping led a parade of officials this spring vowing to revive China’s economy, hoping to repair the damage wrought by years of Covid Zero and regulatory clampdowns. Some of the world’s biggest investors are selling anyway.
AT1 Bonds
Born of the Global Financial Crisis, additional tier-1 securities were designed to absorb bank losses in times of turbulence and maintain financial safety at no cost to taxpayers. Despite good intentions, we’ve found AT1s to be flawed instruments that are contingently junior to common equity in practice.
My Exclusive Interview with Chat GPT 4.0
I “interviewed” Chat GPT 4.0 and asked it questions you might find of interest. Then I asked it to suggest additional questions I should have asked.
Top 5 Reasons to Use Direct Indexing
Sector Rotation: The Cornerstone of Our Investment Grade Strategy
Volatility can be challenging but it also creates opportunities. In our view, rotating across sectors within the investment grade market is the most effective way to take advantage of price fluctuations and generate alpha.
The Aliens Have Landed, and We Created Them
It is not every day that I read a prediction of doom as arresting as Eliezer Yudkowsky’s in Time magazine last week. “The most likely result of building a superhumanly smart AI, under anything remotely like the current circumstances,” he wrote, “is that literally everyone on Earth will die.
Three Ways Your Culture Will Attract and Keep Top Talent
How do you serve up a culture that supports growth? I have three recommendations.
What To Say When Someone is Lying
Here are five ways to respond when you know someone is lying, blowing you off, or dodging your questions.
Episode 36: What’s Culture Got to Do With It?
As it turns out, culture has a lot to do with how we operate. But how difficult is it to measure? In this episode of The Active Share, Hugo sits down with Dr. Tom Reader, an associate professor of organizational psychology at the London School of Economics, to discuss the broad role culture plays in all kinds of organizations; why great cultures are the defining feature of good companies; and how engaging with diverse perspectives can help foster meaningful cultural growth and innovation.