Three decades after helping give birth to the ETF industry, Morgan Stanley is officially back in the game in what could be a milestone moment for the investing world.
How many times have your clients or employees stalled and failed to take action? And then their stall had you managing the fallout?
A slowdown in US economic activity this year is likely to impact most states, which could face budget deficits, according to Jennifer Johnston, Franklin Templeton Fixed Income’s Director of Municipal Bonds.
Annie Duke’s latest and best of her books, Quit, is on making decisions under uncertainty.
Personal income (excluding transfer receipts) in December rose 0.27% and is up 5.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.21% and was up 0.3% year-over-year.
Optimism is increasing on Wall Street, with investors hoping for a “soft landing” in the economy.
Investors have little confidence in US stocks even after this month’s surge, fearing weak corporate earnings could drag them back down.
The once-burgeoning realm of crypto and decentralized finance keeps imploding, presenting policy makers with a quandary: Should they just let it burn, or step in to address its now-obvious flaws?
Older advisors need to step aside and make room for the up and comers.
A recession is two consecutive quarters of economic contraction.
If you are competing with the best of the best, how do you rise above the competition?
Paying down student debt or saving for retirement can seem like mutually exclusive goals. A little-known workplace benefit could soon allow more workers to do both.
The problem with speculation is that there’s usually a gap between the underlying risk and the inevitable outcome.
Advisors can illustrate the risks in single-stock positions by educating their clients on the historical evidence that demonstrates diversification is the prudent strategy.
Amazon.com Inc.’s cloud unit will spend $35 billion on new data centers in Virginia by 2040, underscoring its determination to stay ahead of rivals Microsoft Corp. and Alphabet Inc.
Month-over-month nominal sales in November was down 1.15% and up 6.02% YoY. Real retail sales, calculated with the seasonally adjusted CPI, decreased by 1.07% and was down 0.38% YoY.
There are many reasons advisors should avoid social media marketing.
I learned a lot in 2022. Here were my biggest epiphanies.
Wall Street bond dealers are moving rapidly to the sidelines of US Treasury auctions — the very activity that defines their status at the heart of the world’s biggest bond market.
The Federal Open Market Committee’s 12 voting members differ on where they think interest rates should go this year. But we know they’re unanimously against cutting rates until at least 2024—or at least they were as of December, according to that meeting’s minutes.
Each year presents its own challenges, and 2023 is no exception, with economic uncertainty riding high, geopolitical tensions rising and the policy landscape shifting.
The 68-year-old retired landscaper first started investing in Tesla Inc. in 2012 after hearing about Elon Musk, who wasn’t nearly as famous at the time.
Our 2022 ESG manager survey findings reinforced our belief that the integration of environmental, social and governance (ESG) factors into investment processes is here to stay.
The California Public Employees’ Retirement System is making a $1 billion wager that small private equity firms without the heft of the biggest buyout institutions can boost the pension giant’s returns and clout.
At KCR, we believe in the Quantamental Investment approach–a strategy that leverages the most useful aspects of both quantitative investing and fundamental investing.
European bond-market performance was among the worst on record in 2022, as Europe ran the gamut of geopolitical, economic and market storms.
The $6.5 trillion US ETF industry boomed in 2022 as innovative product debuts and market volatility fueled a near-record number of launches. But the fanfare revealed a major flaw in the space: the lack of women helming the funds.
The March contract for the Bloomberg Commodity Index (ERH23) was down for the third consecutive day on Thursday. Since ending 2022 at 112.80, the contract is down 5.03 at 107.77.
Take a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite since 2000. We've updated this through the December 30, 2022 close.
Public and private real estate investments present a compelling opportunity in the current environment of high inflation and rising interest rates, according to Daniel Scher and Blair Schmicker from Franklin Equity Group.
In our Quarterly Strategy Report, we illustrate the relative attractiveness of select developed international sectors.
2022 wasn’t the easiest of years to handle for investors.
I’ve learned a lot through my work consulting with advisors. Here are some marketing insights to help you plan for 2023.
In some ways, the 2023 economic outlook for the US is locked in. The Federal Reserve’s goal is to push the rate of inflation back down to 2% over the next few years.
The Battery Belt is taking shape, and it’s creating a new economic development model where a college degree won’t be the ultimate qualification for jobs.
Savvy investors seized tightening credit markets this year to reshape the distressed investing playing field just as more companies look destined for default in 2023.
The US Treasury Department signaled some imported cars will qualify for electric-vehicle tax credits in the Inflation Reduction Act, a move that could assuage Asian and European allies’ concerns about the sweeping climate legislation.
Bear markets end with widespread capitulation while a chorus of the stock trader’s prayer (God, if you get me out of this mess, I swear I will never buy another stock) spreads through out the land.
Enjoy the latest Newsletter from Harold Evensky.
C6 Bank, the Brazilian digital lender backed by JPMorgan Chase & Co., is planning to double its loan portfolio to midsize firms as it diversifies beyond retail clients.
The end of 2022 can’t come soon enough for many in the banking industry. Sputtering capital markets, job cuts, raging inflation, the crypto meltdown and rising interest rates marked a year of upheaval.
The market dislocations and skyrocketing inflation of the last year put longstanding retirement maxims to the test and that test isn’t over yet.
Banco Bradesco SA, Brazil’s second-biggest bank by market value, plans to buy more minority stakes in tech companies to speed up its expansion in the US.
The big question heading into 2023 is the dreaded “R” word.
The following article provides an important perspective on Gen Z’s entrance into the workforce.
The dispiriting thing about the Securities and Exchange Commission’s 400-page proposal to re-engineer financial markets, and the response from outside the agency, is that lawyers and economists are arguing over questions that have easy technical solutions.
When a society embraces cognitive diversity, powerful outcomes can result. In this episode of The Active Share, Hugo sits down with Matthew Syed, a best-selling author, highly acclaimed speaker, and award-winning journalist, to discuss what it means to think in complex ways; the implications of moving away from group think; and how investors can benefit from diverse cultures and voices.
From the earliest days of artificial intelligence (AI) and machine learning (ML) in the 1950s, practitioners have spoken of using it for investment fund management.
As climate change moved higher on the Wall Street agenda, there had been fewer indications that financial giants took similar interest in the biodiversity crisis.
The breakthrough in nuclear fusion is likely to spark investment in the technology that could transform the global energy landscape with nearly limitless clean energy.
Global Investment Report's 3Q Update of the 2022 hedge fund survey.
By any measure, America is failing at that task. For the sake of the economy, society and even the environment, it must do better.
Rather than feudalism, we are headed toward hyper-capitalism, where each person is an entrepreneur constantly selling his or her services to the highest bidder.
We’ve broken down nine of the best 529 plans.
An alpha-oriented approach.
In his latest memo, Howard Marks weaves together some of the themes he’s explored in 2022 to explain what he believes really matters in investing and what doesn’t. He discusses the disadvantages of short-term thinking, the difference between volatility and risk, and the one word he believes defines the essence of investment excellence.
Are Chinese stocks good value? It’s a question we’re getting asked by a lot of clients. Some Chinese stocks may appear attractive from a valuations perspective – but you need to think differently about value investing in emerging markets.
OpenAI isn’t publicly speculating about its future applications, but if its new chatbot starts sharing links to other websites, particularly those that sell things, that could spell real danger for Google.
Disabled workers are helping close the labor gap thanks to remote work.
We believe microcap stocks are an attractive asset class offering the opportunity to deliver outsized returns to investors and that they should be an important part of a diversified investment portfolio.
Weaker economic trends will likely form heading into 2023 as the Fed battles inflation, but a (hopefully) mild recession may help set stocks up for a better second half of the year.
David Dali, head of portfolio strategy, explains how emerging markets can give investors ballast to navigate macro headwinds and position portfolios for growth.
After years of uncertainty around how U.S. retirement plans could consider ESG factors, the dust is finally settling. It’s official: A Nov. 22 rule issued by the Department of Labor (DOL) allows retirement plans to consider financially material ESG factors when selecting investments and exercising shareholder rights.
This should be the time when forward-thinking bosses can launch a takeover without having to fight a counterbid from a private equity firm, and hopefully end up paying a sensible price.
Tesla Inc. handed over the first of its electric Semi trucks, a milestone for the automaker more than five years after it unveiled the vehicle.
The Twitter chatter of Ford Chief Executive Officer Jim Farley is good vibes only: factory photos, race tracks, corporate boosterism and a lot of retweets of Ford customers gushing about their vehicles. It’s all cars, and it’s all anodyne.
The US housing market is in an uneasy state of equilibrium.
In this year’s global economic crisis, no two regions are having identical experiences. While inflation rages across much of the world, price rises have been more moderate in some countries than others. Similarly, the scale of rate hikes and the degree of recession fears aren’t uniform.
This article explores the efficacy of PLIBs against a retirement income strategy that does not include an annuity, as well as strategies which allocate to either a SPIA, a DIA, or a GLWB. I used a utility framework for this analysis.
Technology megatrends transform society, and there is a hugely significant fourth wave on the horizon.
This week, around my trip to a far-too-cold Denver, then to Dallas, and ultimately Tulsa to spend the Thanksgiving holiday with family, Keith and I did a 45-minute "interview" via Zoom. Less an interview, perhaps, than the two old friends catching up. I was surprised how many topics Keith and I aligned on perfectly, though our few disagreements about what comes next made for a great debate.
Vivek Tanneeru, portfolio manager, sees structural and cyclical tailwinds converging for emerging markets equities.
A high level Fed official warned last Thursday that the Fed Funds rate might have to go to 5%-7% to get inflation under control.
If you aren’t willing to niche, at least decide whether you are trying to help your clients thrive or survive. Then build a message around one of those themes. Are you selling them life rafts (survive) or sailboats (thrive)?
The “wall of capital” that was supposedly coming to finance the global energy transition has proven to be more of a dam, holding back most of the cash that was promised.
Amundi SA is removing the European Union’s highest ESG designation from virtually all funds that once carried it, as it joins a growing list of investment firms that have been wrong-footed by a change in regulatory guidelines in the bloc.
What is the cost, at this month’s market prices, of achieving the standard of living actually attained in the base period?
In the race to build a North American hub to support the electric-vehicle industry and challenge China’s dominance, one tiny Quebec community is charging ahead.
The German car industry’s bid to wrest the electric-vehicle crown from Tesla Inc. veered off course this week with stumbles for Volkswagen AG and Mercedes-Benz AG.
On the most optimistic corners of Wall Street, promising inflation data over the past week or so suggest the Federal Reserve may accomplish a soft landing after all.
A split U.S. Congress in 2023 will likely limit fiscal policy, but could be positive for equity markets.
Despite stubbornly high inflation and recessionary fears, spending by consumers may not slow down as we approach the busy holiday shopping season.
The amount of time between aircraft as they land at Toronto Pearson International Airport might seem prosaic to the untrained eye, but there’s a lot more going on than pilots negotiating the gentle return to earth of hundreds of tons of metal.
Our annual ESG manager survey of active managers assesses the integration of ESG considerations in investment processes among equity, fixed income and private markets managers, and spotlights firmwide policies, use of data, engagement and integration.
The dinner rush is on at Suga’s Diner in Stanton, Tennessee, the only restaurant in this town of 452 souls.
In the 1994 comedy film, Ace Ventura: Pet Detective, Lt. Einhorn is the female leading the Miami police’s investigation of the disappearance of the Miami Dolphin’s mascot, Snowflake.
In the wake of the last housing crash, online lenders came to dominate the mortgage market.
U.S. equities are mixed in restrained trading, with investors awaiting the next two pieces to complete the October inflation picture.
What problem could be solved or what issue or challenge could be addressed that would offer wide appeal to the expansive advisor community? The answer that made sense to me was financial education.
Diversity & Inclusion
Morgan Stanley Makes Historic ETF Comeback With Six New Funds
Three decades after helping give birth to the ETF industry, Morgan Stanley is officially back in the game in what could be a milestone moment for the investing world.
A True Story of the Cost of Inaction
How many times have your clients or employees stalled and failed to take action? And then their stall had you managing the fallout?
US Budget Season Implications for the Muni Market
A slowdown in US economic activity this year is likely to impact most states, which could face budget deficits, according to Jennifer Johnston, Franklin Templeton Fixed Income’s Director of Municipal Bonds.
How the Greatest Female Poker Player Reduces Risk
Annie Duke’s latest and best of her books, Quit, is on making decisions under uncertainty.
The Big Four: Real Personal Income in December
Personal income (excluding transfer receipts) in December rose 0.27% and is up 5.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.21% and was up 0.3% year-over-year.
A “Soft Landing” Scenario – Possibility Or Fed Myth?
Optimism is increasing on Wall Street, with investors hoping for a “soft landing” in the economy.
Stocks Are Poised to Hit New Lows This Year, Survey of Investors Shows
Investors have little confidence in US stocks even after this month’s surge, fearing weak corporate earnings could drag them back down.
Crypto Is Worth Fixing. Regulators Should Get Moving
The once-burgeoning realm of crypto and decentralized finance keeps imploding, presenting policy makers with a quandary: Should they just let it burn, or step in to address its now-obvious flaws?
In Defense of Millennials
Older advisors need to step aside and make room for the up and comers.
Recession Fear Investing
A recession is two consecutive quarters of economic contraction.
What it Takes to Be an Elite Advisor
If you are competing with the best of the best, how do you rise above the competition?
How to Save for Retirement by Paying Down Your Student Loans
Paying down student debt or saving for retirement can seem like mutually exclusive goals. A little-known workplace benefit could soon allow more workers to do both.
Pushing Your Luck
The problem with speculation is that there’s usually a gap between the underlying risk and the inevitable outcome.
Fortune Doesn’t Always Favor the Bold: The Perils of Concentrated Stock Positions
Advisors can illustrate the risks in single-stock positions by educating their clients on the historical evidence that demonstrates diversification is the prudent strategy.
Amazon to Plow Extra $35 Billion Into Virginia Data Centers in Cloud Race
Amazon.com Inc.’s cloud unit will spend $35 billion on new data centers in Virginia by 2040, underscoring its determination to stay ahead of rivals Microsoft Corp. and Alphabet Inc.
The Big Four: December Real Retail Sales Continue to Decline
Month-over-month nominal sales in November was down 1.15% and up 6.02% YoY. Real retail sales, calculated with the seasonally adjusted CPI, decreased by 1.07% and was down 0.38% YoY.
What If the Fish Are Poisoned?
There are many reasons advisors should avoid social media marketing.
My Biggest Epiphanies in 2022
I learned a lot in 2022. Here were my biggest epiphanies.
Wall Street Dealers Become Bit Players in US Bond Sales
Wall Street bond dealers are moving rapidly to the sidelines of US Treasury auctions — the very activity that defines their status at the heart of the world’s biggest bond market.
The Punchbowl Is Gone
The Federal Open Market Committee’s 12 voting members differ on where they think interest rates should go this year. But we know they’re unanimously against cutting rates until at least 2024—or at least they were as of December, according to that meeting’s minutes.
Electric Vehicles Look Poised for Slower Sales Growth This Year
Each year presents its own challenges, and 2023 is no exception, with economic uncertainty riding high, geopolitical tensions rising and the policy landscape shifting.
Elon Musk Fan With 2,900% Gain Sees $1.5 Million Wiped Away
The 68-year-old retired landscaper first started investing in Tesla Inc. in 2012 after hearing about Elon Musk, who wasn’t nearly as famous at the time.
2022 ESG Survey Deep Dive: Active Ownership Review
Our 2022 ESG manager survey findings reinforced our belief that the integration of environmental, social and governance (ESG) factors into investment processes is here to stay.
Calpers Makes $1 Billion Bet on Small Funds as New CIO Reshapes Pension
The California Public Employees’ Retirement System is making a $1 billion wager that small private equity firms without the heft of the biggest buyout institutions can boost the pension giant’s returns and clout.
Quantamental Investing: A Brief Primer on KCR’s Toolkits
At KCR, we believe in the Quantamental Investment approach–a strategy that leverages the most useful aspects of both quantitative investing and fundamental investing.
European Fixed-Income Outlook: Stay High Quality in 2023
European bond-market performance was among the worst on record in 2022, as Europe ran the gamut of geopolitical, economic and market storms.
Women Rarely Manage ETFs. Meet the Team Looking to Change That
The $6.5 trillion US ETF industry boomed in 2022 as innovative product debuts and market volatility fueled a near-record number of launches. But the fanfare revealed a major flaw in the space: the lack of women helming the funds.
Bloomberg Commodity Index Trends Downward to Start the Year
The March contract for the Bloomberg Commodity Index (ERH23) was down for the third consecutive day on Thursday. Since ending 2022 at 112.80, the contract is down 5.03 at 107.77.
The S&P 500, Dow and Nasdaq Since Their 2000 Highs
Take a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite since 2000. We've updated this through the December 30, 2022 close.
Alternative Investments: The Case for Real Estate
Public and private real estate investments present a compelling opportunity in the current environment of high inflation and rising interest rates, according to Daniel Scher and Blair Schmicker from Franklin Equity Group.
Quarterly Strategy Report: Global Equity Opportunities
In our Quarterly Strategy Report, we illustrate the relative attractiveness of select developed international sectors.
The R Year
2022 wasn’t the easiest of years to handle for investors.
Marketing Insights from the Trenches
I’ve learned a lot through my work consulting with advisors. Here are some marketing insights to help you plan for 2023.
What Could Go Wrong for the Federal Reserve in 2023
In some ways, the 2023 economic outlook for the US is locked in. The Federal Reserve’s goal is to push the rate of inflation back down to 2% over the next few years.
US 'Battery Belt' Will Be a New Kind of Job Magnet
The Battery Belt is taking shape, and it’s creating a new economic development model where a college degree won’t be the ultimate qualification for jobs.
Distressed Investing Is Back. These Trades Are Defining the Game
Savvy investors seized tightening credit markets this year to reshape the distressed investing playing field just as more companies look destined for default in 2023.
US Treasury Signals Opening for Foreign Carmakers on EV Subsidy
The US Treasury Department signaled some imported cars will qualify for electric-vehicle tax credits in the Inflation Reduction Act, a move that could assuage Asian and European allies’ concerns about the sweeping climate legislation.
The 70% Solution
Bear markets end with widespread capitulation while a chorus of the stock trader’s prayer (God, if you get me out of this mess, I swear I will never buy another stock) spreads through out the land.
NewsLetter - December 2022
Enjoy the latest Newsletter from Harold Evensky.
JPMorgan-Backed Digital Bank C6 to Double Loans to Midsize Firms
C6 Bank, the Brazilian digital lender backed by JPMorgan Chase & Co., is planning to double its loan portfolio to midsize firms as it diversifies beyond retail clients.
Recession, Rate Hikes, Diversity- What's Ahead for Banks in 2023
The end of 2022 can’t come soon enough for many in the banking industry. Sputtering capital markets, job cuts, raging inflation, the crypto meltdown and rising interest rates marked a year of upheaval.
Reflecting Back on a Testing Year and Looking Ahead to 2023
The market dislocations and skyrocketing inflation of the last year put longstanding retirement maxims to the test and that test isn’t over yet.
Bradesco Wants to Speed Up Its US Expansion With Fintech Deals
Banco Bradesco SA, Brazil’s second-biggest bank by market value, plans to buy more minority stakes in tech companies to speed up its expansion in the US.
The 2023 Investing Outlook as the Fed Pivots – Part II
The big question heading into 2023 is the dreaded “R” word.
An Argument for Optimism amid Pessimism: Talkin’ ‘Bout My Generation
The following article provides an important perspective on Gen Z’s entrance into the workforce.
Crypto Offers a Road Map for Improved Stock Trading
The dispiriting thing about the Securities and Exchange Commission’s 400-page proposal to re-engineer financial markets, and the response from outside the agency, is that lawyers and economists are arguing over questions that have easy technical solutions.
Diverse Thought, Endless Possibilities
When a society embraces cognitive diversity, powerful outcomes can result. In this episode of The Active Share, Hugo sits down with Matthew Syed, a best-selling author, highly acclaimed speaker, and award-winning journalist, to discuss what it means to think in complex ways; the implications of moving away from group think; and how investors can benefit from diverse cultures and voices.
Not Even AI Can Beat the Market These Days
From the earliest days of artificial intelligence (AI) and machine learning (ML) in the 1950s, practitioners have spoken of using it for investment fund management.
Why Is Wall Street So Hot for Biodiversity Right Now?
As climate change moved higher on the Wall Street agenda, there had been fewer indications that financial giants took similar interest in the biodiversity crisis.
Nuclear Fusion Breakthrough Set to Send Billions of Dollars Flowing to Atomic Startups
The breakthrough in nuclear fusion is likely to spark investment in the technology that could transform the global energy landscape with nearly limitless clean energy.
Top 50 Hedge Funds Outperform the Market by 28 percentage points through the first nine months of the year
Global Investment Report's 3Q Update of the 2022 hedge fund survey.
The American Dream Needs an Extensive Renovation
By any measure, America is failing at that task. For the sake of the economy, society and even the environment, it must do better.
Capitalism’s Triumph over Feudalism
Rather than feudalism, we are headed toward hyper-capitalism, where each person is an entrepreneur constantly selling his or her services to the highest bidder.
The Best 529 Plans for 2023 and Beyond
We’ve broken down nine of the best 529 plans.
EM Corporate Debt ESG Integration
An alpha-oriented approach.
What Really Matters?
In his latest memo, Howard Marks weaves together some of the themes he’s explored in 2022 to explain what he believes really matters in investing and what doesn’t. He discusses the disadvantages of short-term thinking, the difference between volatility and risk, and the one word he believes defines the essence of investment excellence.
Emerging Markets: Is it Time to Buy Chinese Stocks? In Short – No – At Least Not Yet
Are Chinese stocks good value? It’s a question we’re getting asked by a lot of clients. Some Chinese stocks may appear attractive from a valuations perspective – but you need to think differently about value investing in emerging markets.
Google Faces a Serious Threat From ChatGPT
OpenAI isn’t publicly speculating about its future applications, but if its new chatbot starts sharing links to other websites, particularly those that sell things, that could spell real danger for Google.
Flexible Work Helps Disabled Workers
Disabled workers are helping close the labor gap thanks to remote work.
Value Creation In Microcaps Through Constructive Activism
We believe microcap stocks are an attractive asset class offering the opportunity to deliver outsized returns to investors and that they should be an important part of a diversified investment portfolio.
U.S. Outlook: How Many More Times, Fed?
Weaker economic trends will likely form heading into 2023 as the Fed battles inflation, but a (hopefully) mild recession may help set stocks up for a better second half of the year.
Five Reasons Why Emerging Markets Are Investable Today
David Dali, head of portfolio strategy, explains how emerging markets can give investors ballast to navigate macro headwinds and position portfolios for growth.
It’s Official: U.S. Retirement Plans Can Consider ESG Factors
After years of uncertainty around how U.S. retirement plans could consider ESG factors, the dust is finally settling. It’s official: A Nov. 22 rule issued by the Department of Labor (DOL) allows retirement plans to consider financially material ESG factors when selecting investments and exercising shareholder rights.
US Takeovers Are Hot Stuff - Provided Buyers Can Afford Them
This should be the time when forward-thinking bosses can launch a takeover without having to fight a counterbid from a private equity firm, and hopefully end up paying a sensible price.
Tesla Hands Over First 'Badass' Big Rig Semis to PepsiCo
Tesla Inc. handed over the first of its electric Semi trucks, a milestone for the automaker more than five years after it unveiled the vehicle.
Five Reasons Why Emerging Markets Are Investable Today
David Dali, head of portfolio strategy, explains how emerging markets can give investors ballast to navigate macro headwinds and position portfolios for growth.
Elon Musk’s Twitter Is Full of People Swearing Off Tesla
The Twitter chatter of Ford Chief Executive Officer Jim Farley is good vibes only: factory photos, race tracks, corporate boosterism and a lot of retweets of Ford customers gushing about their vehicles. It’s all cars, and it’s all anodyne.
Rising Inventory Will Be the Housing Market’s Next Problem
The US housing market is in an uneasy state of equilibrium.
Global Stocks: Look Beyond Home Base to Find Growth
In this year’s global economic crisis, no two regions are having identical experiences. While inflation rages across much of the world, price rises have been more moderate in some countries than others. Similarly, the scale of rate hikes and the degree of recession fears aren’t uniform.
Contrasting Protected Lifetime Income Benefits (PLIBs) Against Other Annuities (Part 2)
This article explores the efficacy of PLIBs against a retirement income strategy that does not include an annuity, as well as strategies which allocate to either a SPIA, a DIA, or a GLWB. I used a utility framework for this analysis.
Evolution & Revolution: Five Technology Megatrends Impacting Society
Technology megatrends transform society, and there is a hugely significant fourth wave on the horizon.
An Interview with Keith Fitz-Gerald
This week, around my trip to a far-too-cold Denver, then to Dallas, and ultimately Tulsa to spend the Thanksgiving holiday with family, Keith and I did a 45-minute "interview" via Zoom. Less an interview, perhaps, than the two old friends catching up. I was surprised how many topics Keith and I aligned on perfectly, though our few disagreements about what comes next made for a great debate.
Looking Up
Vivek Tanneeru, portfolio manager, sees structural and cyclical tailwinds converging for emerging markets equities.
Fed’s Bullard Warns Fed Funds Rate Could Go To 5-7%
A high level Fed official warned last Thursday that the Fed Funds rate might have to go to 5%-7% to get inflation under control.
Are You Selling Life Rafts or Sailboats?
If you aren’t willing to niche, at least decide whether you are trying to help your clients thrive or survive. Then build a message around one of those themes. Are you selling them life rafts (survive) or sailboats (thrive)?
A Dam Is Holding Back Net Zero's 'Wall of Capital'
The “wall of capital” that was supposedly coming to finance the global energy transition has proven to be more of a dam, holding back most of the cash that was promised.
Amundi Downgrades ESG Funds as Sector Faces $85 Billion Hit
Amundi SA is removing the European Union’s highest ESG designation from virtually all funds that once carried it, as it joins a growing list of investment firms that have been wrong-footed by a change in regulatory guidelines in the bloc.
Have We Been Measuring Housing Inflation All Wrong?
What is the cost, at this month’s market prices, of achieving the standard of living actually attained in the base period?
EV Battery Heavyweights Revive City’s Dream of Factory Glory
In the race to build a North American hub to support the electric-vehicle industry and challenge China’s dominance, one tiny Quebec community is charging ahead.
VW and Mercedes’s Electric-Car Ambitions Run Into Trouble
The German car industry’s bid to wrest the electric-vehicle crown from Tesla Inc. veered off course this week with stumbles for Volkswagen AG and Mercedes-Benz AG.
Wall Street Rebuffs Soft-Landing Dream as 92% Bet on Stagflation
On the most optimistic corners of Wall Street, promising inflation data over the past week or so suggest the Federal Reserve may accomplish a soft landing after all.
What to Expect From Divided Government
A split U.S. Congress in 2023 will likely limit fiscal policy, but could be positive for equity markets.
U.S. Consumers Defy The Odds Ahead Of The Holiday Shopping Season
Despite stubbornly high inflation and recessionary fears, spending by consumers may not slow down as we approach the busy holiday shopping season.
How an Industry Built on Pollution Is Getting a Tiny Bit Greener—and Faster
The amount of time between aircraft as they land at Toronto Pearson International Airport might seem prosaic to the untrained eye, but there’s a lot more going on than pilots negotiating the gentle return to earth of hundreds of tons of metal.
2022 Annual ESG Survey: The ESG Journey Accelerates
Our annual ESG manager survey of active managers assesses the integration of ESG considerations in investment processes among equity, fixed income and private markets managers, and spotlights firmwide policies, use of data, engagement and integration.
Ford Is Building Its First New Auto Plant in 53 Years. That’s Stirring Mixed Emotions
The dinner rush is on at Suga’s Diner in Stanton, Tennessee, the only restaurant in this town of 452 souls.
The Good News: Einhorn is Finkle
In the 1994 comedy film, Ace Ventura: Pet Detective, Lt. Einhorn is the female leading the Miami police’s investigation of the disappearance of the Miami Dolphin’s mascot, Snowflake.
Mortgage Lenders Vie to Be 'Last Man Standing' as Rates Soar
In the wake of the last housing crash, online lenders came to dominate the mortgage market.
Stocks Mixed Ahead of More Inflation Data
U.S. equities are mixed in restrained trading, with investors awaiting the next two pieces to complete the October inflation picture.
How a Nasty Exchange on LinkedIn Led to a New Non-Profit
What problem could be solved or what issue or challenge could be addressed that would offer wide appeal to the expansive advisor community? The answer that made sense to me was financial education.