Among his many contributions, Munger was a prolific armchair philosopher, whose speeches and interviews included hundreds — maybe thousands — of nuggets about how to invest and live well.
Bitcoin's price hovered about $37,000 this past week as the digital currency closed each day of the past week between $37,000 and $38,000. BTC is now up ~126% year to date. Here's the latest charts on three of the largest cryptocurrencies by market share through 11/28.
Ever since Alan Turing’s “imitation game,” we’ve been acutely aware of the importance of measuring the capabilities of computers against our own miraculous brains.
Bitcoin climbed back above $38,000 on Tuesday amid optimism the US central bank may be closer to lowering borrowing costs if inflation continues to decline.
Often misunderstood, crypto has an important role to play in the alternatives sleeve of a portfolio.
Economic pain is likely in 2024, but that doesn’t mean stocks will struggle all year, especially if there is a continuation of the rolling recessions that have hit the economy.
The rebound in Adyen NV and its European fintech peers this month has been notable, but investors should brace for a bumpy road ahead.
Javier Milei was elected president of Argentina on the strength of a radical promise: that he would replace the highly inflationary Argentine peso with the stable US dollar.
When the crypto bubble was on the rise, it prompted governments to step up development of their own form of electronic cash, known as central bank digital currencies. Now that enthusiasm for crypto has waned, will CBDCs fade away, too?
If investors needed another sign the heyday for meme stocks has passed, an exchange-traded fund designed to ride the pandemic-era rise of retail traders is shuttering after just two years.
Brooks Friederich is a little-known figure in the world of investment advisory, even among the Wall Street cognoscenti. Yet every year, the 39-year-old — and his Berwyn, Pennsylvania-based employer Envestnet — helps steer billions of dollars into tailor-made strategies for financial advisers, part of what’s known as the model-portfolio boom.
A robust growth backdrop, a key input for cross-asset positioning, benefited from pent-up demand and an accommodative fiscal policy stance.
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
Our immense progress in improving society’s standard of living over the last several centuries was possible because of advances in the discovery and production of energy. To assume that will continue is a grave error.
With equity markets open just a half day, the day after Thanksgiving is usually a noneventful day in financial markets. However, something notable did occur last Friday: Bitcoin jumped to its highest prices in 18 months.
VettaFi will be hosting an Alternatives Symposium tomorrow, November 28. We are covering a range of alternative topics.
It’s finally time to move on from a $2.2 trillion problem by burying Bankhaus Herstatt — a half-century after its collapse.
Private equity firms that spent hundreds of billions of dollars on acquisitions at the top of the market risk a nasty hangover.
ESG fund managers who turned to big tech as a low-carbon, high-return bet are growing increasingly anxious over the sector’s experimentation with artificial intelligence.
The 2023 holiday season is officially upon us. Happy Black Friday and Cyber Monday to those who observe!
This is an exciting time for artificial intelligence and robotics stocks, with many companies reporting and some major news announcements. This week, for the Disruptive Theme of the Week, I reached out to VettaFi’s Senior Research Analyst, Zeno Mercer, for an update on the latest developments in AI and robotics.
Exchange has assembled an impressive lineup of keynote speakers. The conference is just around the corner, with the financial services community gathering February 11-14 in Miami Beach. Here’s what to expect from the keynote speakers.
Two former Goldman Sachs Group Inc. bankers want to take the $1.6 trillion private credit revolution from Wall Street to Main Street.
While Cathie Wood has been touting her bullish stance on Bitcoin in recent months, her firm ARK Investment Management actually cut holdings in the Grayscale Bitcoin Trust.
Artificial intelligence is likely to transform our world in many ways, but one that hasn’t received much attention is the technology’s looming impact on real estate. As AI becomes an essential component of both business and daily life, the value of places where those who work on AI want to live will rise, provided these locales have reasonable infrastructure.
There are clear intersections between artificial intelligence (AI) and cloud computing. But for some reason, the latter has been an afterthought as the former has flourished in 2023.
CIO designate Sean Taylor gives his take on what Asia has to offer global and emerging markets investors, from growth, to diversification, to innovation.
Sam Altman will return to lead OpenAI less than five days after he was pushed out of one of the world’s most valuable startups, setting off a shock back-and-forth drama that transfixed Silicon Valley and the global AI industry.
Nvidia Corp. investors gave a cool reaction to its latest quarterly report, which blew past average analysts’ estimates but failed to satisfy the loftier expectations of shareholders who have bet heavily on an artificial intelligence boom.
News that a Washington DC Court of Appeals ruled in favor of Grayscale Investments LLC over the Securities and Exchange Commission has ignited hope that a Bitcoin exchange-traded fund will soon be available. Bitcoin prices jumped.
Should the US Securities and Exchange Commission approve an exchange-traded fund focused on the spot market for Bitcoin? The question has yet again gained relevance, thanks to the District of Columbia Court of Appeals, which last week reversed the SEC’s decision to reject a Bitcoin ETF proposed by Grayscale Investments.
In this video, Chuck Carnevale, Co-Founder of FAST Graphs, a.k.a. Mr. Valuation will delve into the world of office real estate investment trusts (REITs), and explore whether there are any good investment opportunities in this sector.
Cathie Wood’s ARK Investment Management and digital-asset firm 21Shares just became the first major applicant in the US spot Bitcoin ETF race to list a fee on their planned offering.
As we know all too well, human beings are neither perfect nor consistently rational, especially when our hard-earned money is involved.
The Age of AI (And Our Human Future), by Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher, is keenly relevant.
WeLab Ltd., backed by investors including billionaire Li Ka-shing and Astra International, a unit of Jardine Matheson, is launching a digital bank in Indonesia to tap the young and fast-growing economy.
It might feel as though enthusiasm surrounding artificial intelligence (AI) and the related investment theme has waned in recent months. Actually, the opposite is true.
The shocking decision by Alibaba Group Holding Ltd. to cancel the spinoff of its cloud division is offering a fresh reason for investors to sell China tech stocks in an earnings season yielding mixed results.
Dina Ting, Franklin Templeton’s Head of Global Index Portfolio Management, sheds light on the benefits of single-country ETF allocations against what has been a rocky macro backdrop and discusses ways to re-evaluate potential opportunities in terms of tax-loss decision-making.
Today's uncertain economic climate is putting particular pressure on four market segments. Here's what to watch out for in the months ahead.
After three days of high drama at the world’s most closely watched startup, which many compared to a coup, Microsoft Corp. capped the weekend with one of its own: The software giant hired ousted OpenAI chief Sam Altman.
Investors should embrace a genuine long-term perspective, extending their time horizons to at least 20 to 30 years. The traditional notion of long-term investing (five to 10 years) may fall short of realizing the full benefits of long-term strategies.
When it comes to artificial intelligence, one of the most commonly debated issues in the technology community is safety — so much so that it has helped lead to the ouster of OpenAI's co-founder Sam Altman, according to Bloomberg News.
The deflationistas have been working themselves into a tizzy since Walmart Inc. Chief Executive Officer Doug McMillon warned of a period of declining prices at the big-box retailer in the months to come.
It’s touted as crypto’s big breakthrough on Wall Street: The imminent arrival of Bitcoin exchange-traded funds that will kick open digital-currency investing to the institutional and retail masses.
Using LOGICLY data, we look at two of Direxion’s leveraged gold miners ETFs and their key features.
Investing in the stock market typically brings to mind the strategy of buying low and selling high. However, there’s another, somewhat counterintuitive method some investors employ: short selling.
A burst of activity in Bitcoin derivatives has evoked memories of the period in late 2021 when the token surged to an all-time high.
Generative artificial intelligence (AI) is firmly on the scene and set to change the way we live and work. NVIDIA CEO Jensen Huang, an AI pioneer and visionary, is optimistic and energized.
The run-off election looks tight in Argentina, where I’m attending a Young Presidents’ Organization (YPO) event in Buenos Aires.
Investors were given plenty of opportunities to fret about the outlook for technology giants this earnings season. Instead, they doubled down on a strategy that has worked all year: piling into the biggest stocks
A movie that I’m quite fond of is 25th Hour, a Spike Lee joint about three friends in post-9/11 New York City. One of them, played by Barry Pepper, is a bond trader.
Just a week after Brazil’s Nu Holdings Ltd announced a yield of 15% on its high-yield savings accounts in Mexico, Argentina’s Ualá is raising its own by three percentage points to 15%.
Bitcoin was in sight of $38,000, a level last seen in May 2022, amid an ongoing rally spurred by expectations of fresh demand for the token from exchange-traded funds.
Bloomberg's Eric Balchunas goes around the world of ETFs, highlighting the industry's top stories, key trends, and future opportunities. VettaFi's Zeno Mercer offers the current state of play in artificial intelligence and ETFs investing in the space.
Manufacturing activity grew modestly in New York State, according to the Empire State Manufacturing November survey. The diffusion index for General Business Conditions rose 13.7 points from last month to 9.1. This morning's reading was better than the forecast of -2.8 and pushes the index back into expansion territory.
With its $33.7 trillion debt and trillion-dollar budget deficit, the US’s deteriorating fiscal situation is impossible to ignore. To simply balance the budget, a 29% across-the-board cut in spending would be necessary, even if the tax cuts enacted by the Trump administration are allowed to expire at the end of 2025.
For Meta Platforms Inc. bulls, the biggest one-day stock wipeout in history is a fading sight in the rear-view mirror.
Third-quarter earnings announcements have almost come and gone, with yesterday being the last big burst of companies. Some key firms have yet to announce, like Nvidia and Walmart, but everything I’m seeing says it surpassed expectations.
As I write this, we’re just about three months out from kicking off Exchange 2024 in Miami, Florida. Obviously, I and the whole team here at VettaFi would love it if you came.
Healthcare stocks have underperformed the global market this year. But taking a closer look under the sector’s hood reveals a more complex picture. In key industries, earnings growth forecasts are healthy and valuations look attractive.
Is your firm specialized enough?
The price of gold just had its best October in nearly half a century, defying tough resistance from surging Treasury yields and a strong U.S. dollar. The yellow metal rallied an incredible 7.3% last month to close at $1,983 an ounce, its strongest October since 1978, when it jumped 11.7%.
The promise of artificial intelligence to rewire large swaths of the American economy supercharged tech shares for most of the year before the fever broke this fall. But investors would be remiss in thinking AI’s power to juice returns is over.
This article provides a brief guide to the AI technologies available (it’s not just ChatGPT), their applications in wealth management, and how your firm can define specific business outcomes to achieve.
“I guarantee to make you an investment genius in six months. Send me $199, and I will reveal my secret.”
Higher interest rates and inflation are likely to usher in a decade of policy restraint, limited liquidity and macro volatility, pressuring equities and motivating investors to reconsider tactical asset allocation and embrace real assets.
Where is the line between selling a financial product and providing investment advice? That question is at the heart of a debate over a new proposal that aims to protect Americans’ retirement savings.
CNBC Journalist Laments How the Fed Now Essentially Controls the Market.
Wall Street’s so-called Magnificent Seven has been living up to its name again, but none more so than Microsoft Corp.
The third quarter was a more favorable environment for active managers in U.S. Large and Small Caps, Japan, Australia, and Canada equities, while being more challenging for Global, Global ex-U.S., Emerging Markets, Europe, UK and Long/Short managers.
One of the most frequently mentioned criticisms of Bitcoin mining is that it’s energy-intensive. Making that matter worse is that the industry is a massive consumer of fossil fuels, arguably inviting that criticism.
Topics discussed included the future of investment management and generational differences among investors as well as trends and technologies transforming the industry, including artificial intelligence (AI) and digital assets.
Nvidia bulls are starting to throw around an adjective rarely used for a stock that’s more than tripled in less than a year: cheap.
Global investing is easily accessible through the financial markets. Many investors prefer to stick to companies and industries they are familiar with.
Weakness in US equity markets since July reflects ongoing uncertainty about the macroeconomic outlook. Despite the concerns, stocks with quality and defensive features have performed relatively well and could help portfolios surmount shaky conditions ahead.
Several ex-Cantor Fitzgerald executives started a crypto lending platform with the expectation that it will serve operators of spot Bitcoin exchange-traded funds once they gain US regulatory approval.
For years, Americans have been giving their banking data to financial apps such as Venmo, YNAB and Rocket Mortgage. And for years, banks have been trying to figure out how to deal with the security risks. A new proposal from the Consumer Financial Protection Bureau suggests a better way.
Let's take a close look at October's employment report numbers on Full and Part-Time Employment. The latest data shows that 83.5% of total employed workers are full-time (35+ hours) and 16.5% of total employed workers are part-time (<35 hours).
Few prospects have the mental bandwidth to plan ahead five weeks, let alone five to 20 years.
For years, Dutch payments fintech Adyen NV’s founders and management ran things their own way, thanks to some blowout growth.
Sam Bankman-Fried’s widely anticipated guilty verdict has been rendered. But Michael Lewis’ book raises many questions, including the existence and extent of an actual crime.
Michael Lewis’ book on SBF is woefully incomplete, rather like a canvas that Rembrandt inexplicably left half blank, for the book elides three major questions.
One consistent overhang in an otherwise pretty good year for the US economy has been tightening credit standards at banks.
What’s the most important price in the global economy? The price of oil? The price of semiconductors? The price of a Big Mac? More important than any of these is the price of money. For more than three decades it was falling.
The S&P 500’s pitch is simple. Own it and get exposure to the biggest of the big among US firms. Lately, it’s gotten harder to maintain that point of distinction.
You have nothing to lose when you increase your fees to match the value you deliver. Advisors chronically undercharge for the value they provide.
A measure of foreign investment into China turned negative for the first time since records began in 1998, highlighting how foreign companies are pulling money out of the country due to geopolitical tensions and higher interest rates elsewhere.
It has been several weeks since ether futures ETFs have launched with little fanfare in early October. But since then, the crypto ETF market has seen several significant events which has caused the price of bitcoin to rise to near $35,000.
Cathie Wood says she would unambiguously wager on Bitcoin — rather than gold or cash — to safeguard against the possibility of deflation in the coming decade.
Fintech
The Charlie Munger Principles to Invest and Live By
Among his many contributions, Munger was a prolific armchair philosopher, whose speeches and interviews included hundreds — maybe thousands — of nuggets about how to invest and live well.
Cryptocurrencies: Bitcoin Hovers Above $37K
Bitcoin's price hovered about $37,000 this past week as the digital currency closed each day of the past week between $37,000 and $38,000. BTC is now up ~126% year to date. Here's the latest charts on three of the largest cryptocurrencies by market share through 11/28.
What We Need to Talk About When We Talk About AI
Ever since Alan Turing’s “imitation game,” we’ve been acutely aware of the importance of measuring the capabilities of computers against our own miraculous brains.
Bitcoin Retakes $38,000 While Rate Cut Expectations Increase
Bitcoin climbed back above $38,000 on Tuesday amid optimism the US central bank may be closer to lowering borrowing costs if inflation continues to decline.
Industry Experts Share Upbeat Crypto Outlook for 2024
Often misunderstood, crypto has an important role to play in the alternatives sleeve of a portfolio.
U.S. Outlook: One Thing Leads to Another
Economic pain is likely in 2024, but that doesn’t mean stocks will struggle all year, especially if there is a continuation of the rolling recessions that have hit the economy.
Adyen-Led Fintech Comeback Faces Wall of Worries
The rebound in Adyen NV and its European fintech peers this month has been notable, but investors should brace for a bumpy road ahead.
How Argentina Could Still Convert to the Dollar
Javier Milei was elected president of Argentina on the strength of a radical promise: that he would replace the highly inflationary Argentine peso with the stable US dollar.
Virtual Cash Will Survive the Crypto Winter
When the crypto bubble was on the rise, it prompted governments to step up development of their own form of electronic cash, known as central bank digital currencies. Now that enthusiasm for crypto has waned, will CBDCs fade away, too?
Meme-Stock ETF Shuts After Failing to Attract Day Traders
If investors needed another sign the heyday for meme stocks has passed, an exchange-traded fund designed to ride the pandemic-era rise of retail traders is shuttering after just two years.
Wall Street’s $300 Billion Middleman Rides Model-Portfolio Boom
Brooks Friederich is a little-known figure in the world of investment advisory, even among the Wall Street cognoscenti. Yet every year, the 39-year-old — and his Berwyn, Pennsylvania-based employer Envestnet — helps steer billions of dollars into tailor-made strategies for financial advisers, part of what’s known as the model-portfolio boom.
Multi-Asset Investing: Tracing the Growth Impact of US Fiscal Policies
A robust growth backdrop, a key input for cross-asset positioning, benefited from pent-up demand and an accommodative fiscal policy stance.
AI Heralds a Technology Paradigm Shift—But Not So Fast
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
The Physical Limits to Society’s Progress
Our immense progress in improving society’s standard of living over the last several centuries was possible because of advances in the discovery and production of energy. To assume that will continue is a grave error.
Bitcoin Price Action Indicates More Upside Could Soon Arrive
With equity markets open just a half day, the day after Thanksgiving is usually a noneventful day in financial markets. However, something notable did occur last Friday: Bitcoin jumped to its highest prices in 18 months.
Commodities and Cryptocurrency Offer an Alternative
VettaFi will be hosting an Alternatives Symposium tomorrow, November 28. We are covering a range of alternative topics.
How to Fix a $2.2 Trillion FX Risk After 50 Years of Trying
It’s finally time to move on from a $2.2 trillion problem by burying Bankhaus Herstatt — a half-century after its collapse.
Private Equity's Bubble Vintage May Fizzle
Private equity firms that spent hundreds of billions of dollars on acquisitions at the top of the market risk a nasty hangover.
‘AI Blowback’ Angst Grips ESG Investors Who Bet Big on Tech
ESG fund managers who turned to big tech as a low-carbon, high-return bet are growing increasingly anxious over the sector’s experimentation with artificial intelligence.
The Rise in Gold, Silver and Bitcoin Prices Captures the Mood of the 2023 Holiday Season
The 2023 holiday season is officially upon us. Happy Black Friday and Cyber Monday to those who observe!
Disruptive Tech Theme of the Week: Zeno Mercer Talks AI and Robotics
This is an exciting time for artificial intelligence and robotics stocks, with many companies reporting and some major news announcements. This week, for the Disruptive Theme of the Week, I reached out to VettaFi’s Senior Research Analyst, Zeno Mercer, for an update on the latest developments in AI and robotics.
Exchange 2024 Keynote Lineup Showcases Breadth of Expertise
Exchange has assembled an impressive lineup of keynote speakers. The conference is just around the corner, with the financial services community gathering February 11-14 in Miami Beach. Here’s what to expect from the keynote speakers.
Goldman Alums Set Up Matchmaking Platform for Private Credit
Two former Goldman Sachs Group Inc. bankers want to take the $1.6 trillion private credit revolution from Wall Street to Main Street.
Cathie Wood’s Ark Pares Holdings of Top Pick Bitcoin Trust
While Cathie Wood has been touting her bullish stance on Bitcoin in recent months, her firm ARK Investment Management actually cut holdings in the Grayscale Bitcoin Trust.
Struggling Cities Face More Pain From AI Boom
Artificial intelligence is likely to transform our world in many ways, but one that hasn’t received much attention is the technology’s looming impact on real estate. As AI becomes an essential component of both business and daily life, the value of places where those who work on AI want to live will rise, provided these locales have reasonable infrastructure.
AI Could Be Catalyst for Cloud Computing Stocks, ETFs
There are clear intersections between artificial intelligence (AI) and cloud computing. But for some reason, the latter has been an afterthought as the former has flourished in 2023.
Why Asia Matters
CIO designate Sean Taylor gives his take on what Asia has to offer global and emerging markets investors, from growth, to diversification, to innovation.
Altman Returns as OpenAI CEO in Chaotic Win for Microsoft
Sam Altman will return to lead OpenAI less than five days after he was pushed out of one of the world’s most valuable startups, setting off a shock back-and-forth drama that transfixed Silicon Valley and the global AI industry.
Nvidia Fails to Satisfy Lofty Investor Expectations for AI Boom
Nvidia Corp. investors gave a cool reaction to its latest quarterly report, which blew past average analysts’ estimates but failed to satisfy the loftier expectations of shareholders who have bet heavily on an artificial intelligence boom.
Grayscale’s Bitcoin Win Is Still Only Half the Battle
News that a Washington DC Court of Appeals ruled in favor of Grayscale Investments LLC over the Securities and Exchange Commission has ignited hope that a Bitcoin exchange-traded fund will soon be available. Bitcoin prices jumped.
Who Needs a Bitcoin ETF? Actually, the SEC Does
Should the US Securities and Exchange Commission approve an exchange-traded fund focused on the spot market for Bitcoin? The question has yet again gained relevance, thanks to the District of Columbia Court of Appeals, which last week reversed the SEC’s decision to reject a Bitcoin ETF proposed by Grayscale Investments.
Are Office REITs Good Investments Today?
In this video, Chuck Carnevale, Co-Founder of FAST Graphs, a.k.a. Mr. Valuation will delve into the world of office real estate investment trusts (REITs), and explore whether there are any good investment opportunities in this sector.
Wood’s Ark, 21Shares Unveil Fee on Pending Spot Bitcoin ETF
Cathie Wood’s ARK Investment Management and digital-asset firm 21Shares just became the first major applicant in the US spot Bitcoin ETF race to list a fee on their planned offering.
Coaching Clients to Take Your Advice
As we know all too well, human beings are neither perfect nor consistently rational, especially when our hard-earned money is involved.
Henry Kissinger on the Promise and Threats of AI
The Age of AI (And Our Human Future), by Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher, is keenly relevant.
Li Ka-shing-Backed WeLab Launches Digital Bank in Indonesia
WeLab Ltd., backed by investors including billionaire Li Ka-shing and Astra International, a unit of Jardine Matheson, is launching a digital bank in Indonesia to tap the young and fast-growing economy.
Artificial Intelligence Still Generating Plenty of Buzz
It might feel as though enthusiasm surrounding artificial intelligence (AI) and the related investment theme has waned in recent months. Actually, the opposite is true.
Alibaba Shock Move Casts Fresh Pall Over China Tech
The shocking decision by Alibaba Group Holding Ltd. to cancel the spinoff of its cloud division is offering a fresh reason for investors to sell China tech stocks in an earnings season yielding mixed results.
Using Single-Country ETFS as Part of a Tax-Loss Harvesting Strategy
Dina Ting, Franklin Templeton’s Head of Global Index Portfolio Management, sheds light on the benefits of single-country ETF allocations against what has been a rocky macro backdrop and discusses ways to re-evaluate potential opportunities in terms of tax-loss decision-making.
4 Weak Spots in the Current Market
Today's uncertain economic climate is putting particular pressure on four market segments. Here's what to watch out for in the months ahead.
Microsoft Ends Weekend of OpenAI Drama With Coup of Its Own
After three days of high drama at the world’s most closely watched startup, which many compared to a coup, Microsoft Corp. capped the weekend with one of its own: The software giant hired ousted OpenAI chief Sam Altman.
Breaking the Chains of Time
Investors should embrace a genuine long-term perspective, extending their time horizons to at least 20 to 30 years. The traditional notion of long-term investing (five to 10 years) may fall short of realizing the full benefits of long-term strategies.
A Guide to the AI Safety Debate After Sam Altman’s Ouster
When it comes to artificial intelligence, one of the most commonly debated issues in the technology community is safety — so much so that it has helped lead to the ouster of OpenAI's co-founder Sam Altman, according to Bloomberg News.
Cathie Wood and Walmart Aren’t Speaking the Same Deflation Language
The deflationistas have been working themselves into a tizzy since Walmart Inc. Chief Executive Officer Doug McMillon warned of a period of declining prices at the big-box retailer in the months to come.
Bitcoin ETF Hype Has Wall Street Eyeing $100 Billion Crypto Potential
It’s touted as crypto’s big breakthrough on Wall Street: The imminent arrival of Bitcoin exchange-traded funds that will kick open digital-currency investing to the institutional and retail masses.
Gaining Global Exposure to Gold Miners
Using LOGICLY data, we look at two of Direxion’s leveraged gold miners ETFs and their key features.
The Basics of Short Selling
Investing in the stock market typically brings to mind the strategy of buying low and selling high. However, there’s another, somewhat counterintuitive method some investors employ: short selling.
Echoes of Bitcoin’s 2021 Record Run Emerge in the Derivatives Market
A burst of activity in Bitcoin derivatives has evoked memories of the period in late 2021 when the token surged to an all-time high.
NVIDIA CEO, Tech Visionary Shares AI Insights and Outlook
Generative artificial intelligence (AI) is firmly on the scene and set to change the way we live and work. NVIDIA CEO Jensen Huang, an AI pioneer and visionary, is optimistic and energized.
A Time of Gratitude and Opportunity
The run-off election looks tight in Argentina, where I’m attending a Young Presidents’ Organization (YPO) event in Buenos Aires.
Big Tech’s $2 Trillion Rally Saves Nasdaq From Correction
Investors were given plenty of opportunities to fret about the outlook for technology giants this earnings season. Instead, they doubled down on a strategy that has worked all year: piling into the biggest stocks
25th Hour
A movie that I’m quite fond of is 25th Hour, a Spike Lee joint about three friends in post-9/11 New York City. One of them, played by Barry Pepper, is a bond trader.
Fintechs Push Mexico Interest Rates to 15% in Battle for Savers
Just a week after Brazil’s Nu Holdings Ltd announced a yield of 15% on its high-yield savings accounts in Mexico, Argentina’s Ualá is raising its own by three percentage points to 15%.
Bitcoin Flirts With $38,000 as Spot ETF Hopes Encourage Bull Run
Bitcoin was in sight of $38,000, a level last seen in May 2022, amid an ongoing rally spurred by expectations of fresh demand for the token from exchange-traded funds.
Around the World of ETFs with Bloomberg’s Eric Balchunas
Bloomberg's Eric Balchunas goes around the world of ETFs, highlighting the industry's top stories, key trends, and future opportunities. VettaFi's Zeno Mercer offers the current state of play in artificial intelligence and ETFs investing in the space.
Empire State Manufacturing Survey: Activity Grew Modestly in November
Manufacturing activity grew modestly in New York State, according to the Empire State Manufacturing November survey. The diffusion index for General Business Conditions rose 13.7 points from last month to 9.1. This morning's reading was better than the forecast of -2.8 and pushes the index back into expansion territory.
How America Can Get Its Debt Back Under Control
With its $33.7 trillion debt and trillion-dollar budget deficit, the US’s deteriorating fiscal situation is impossible to ignore. To simply balance the budget, a 29% across-the-board cut in spending would be necessary, even if the tax cuts enacted by the Trump administration are allowed to expire at the end of 2025.
Meta Has More Wall Street Fans Than Ever as Rally Nears 300%
For Meta Platforms Inc. bulls, the biggest one-day stock wipeout in history is a fading sight in the rear-view mirror.
VettaFi Voices On: Third-Quarter Earnings Season
Third-quarter earnings announcements have almost come and gone, with yesterday being the last big burst of companies. Some key firms have yet to announce, like Nvidia and Walmart, but everything I’m seeing says it surpassed expectations.
Exchange 2024: How Do You Build on Sand?
As I write this, we’re just about three months out from kicking off Exchange 2024 in Miami, Florida. Obviously, I and the whole team here at VettaFi would love it if you came.
Taking the Temperature of Healthcare Stocks
Healthcare stocks have underperformed the global market this year. But taking a closer look under the sector’s hood reveals a more complex picture. In key industries, earnings growth forecasts are healthy and valuations look attractive.
Dear FiComm: Is Our Firm Specialized Enough?
Is your firm specialized enough?
Japan’s New Gold Era: The Yen’s Decline Sparks Unprecedented Demand For Safe Havens
The price of gold just had its best October in nearly half a century, defying tough resistance from surging Treasury yields and a strong U.S. dollar. The yellow metal rallied an incredible 7.3% last month to close at $1,983 an ounce, its strongest October since 1978, when it jumped 11.7%.
‘Tidal Wave’ of AI Spending to Power Tech Bull Market, Wedbush Says
The promise of artificial intelligence to rewire large swaths of the American economy supercharged tech shares for most of the year before the fever broke this fall. But investors would be remiss in thinking AI’s power to juice returns is over.
Where Does AI Fit in Your Firm’s Future?
This article provides a brief guide to the AI technologies available (it’s not just ChatGPT), their applications in wealth management, and how your firm can define specific business outcomes to achieve.
Can You, Too, Become an Investing Genius?
“I guarantee to make you an investment genius in six months. Send me $199, and I will reveal my secret.”
From Abundance to Austerity: Why the Next Decade Won’t Be Like the Last
Higher interest rates and inflation are likely to usher in a decade of policy restraint, limited liquidity and macro volatility, pressuring equities and motivating investors to reconsider tactical asset allocation and embrace real assets.
Retirement Savers Are Getting Ripped Off
Where is the line between selling a financial product and providing investment advice? That question is at the heart of a debate over a new proposal that aims to protect Americans’ retirement savings.
Fed Continues Tough Talk; Silver & Platinum Look Most Undervalued
CNBC Journalist Laments How the Fed Now Essentially Controls the Market.
Microsoft Record Leads $1.5 Trillion Nasdaq Surge
Wall Street’s so-called Magnificent Seven has been living up to its name again, but none more so than Microsoft Corp.
Q3 Active Management Review: Value Dominates
The third quarter was a more favorable environment for active managers in U.S. Large and Small Caps, Japan, Australia, and Canada equities, while being more challenging for Global, Global ex-U.S., Emerging Markets, Europe, UK and Long/Short managers.
Bitcoin Miners Have Room to Increase Renewable Energy Use
One of the most frequently mentioned criticisms of Bitcoin mining is that it’s energy-intensive. Making that matter worse is that the industry is a massive consumer of fossil fuels, arguably inviting that criticism.
The Future of Investment and Wealth Management
Topics discussed included the future of investment management and generational differences among investors as well as trends and technologies transforming the industry, including artificial intelligence (AI) and digital assets.
Nvidia Is Looking Cheap to Some as 220% Rally Stalls
Nvidia bulls are starting to throw around an adjective rarely used for a stock that’s more than tripled in less than a year: cheap.
Navigating Global Equity Markets
Global investing is easily accessible through the financial markets. Many investors prefer to stick to companies and industries they are familiar with.
US Equities: Which Stocks Have Outperformed in a Weaker Market?
Weakness in US equity markets since July reflects ongoing uncertainty about the macroeconomic outlook. Despite the concerns, stocks with quality and defensive features have performed relatively well and could help portfolios surmount shaky conditions ahead.
Ex-Cantor Executives Start Lending Platform for Anticipated Spot Bitcoin ETFs
Several ex-Cantor Fitzgerald executives started a crypto lending platform with the expectation that it will serve operators of spot Bitcoin exchange-traded funds once they gain US regulatory approval.
As Banking Goes Digital, Finance Apps Are Still Too Risky
For years, Americans have been giving their banking data to financial apps such as Venmo, YNAB and Rocket Mortgage. And for years, banks have been trying to figure out how to deal with the security risks. A new proposal from the Consumer Financial Protection Bureau suggests a better way.
A Closer Look at Full-time and Part-time Employment
Let's take a close look at October's employment report numbers on Full and Part-Time Employment. The latest data shows that 83.5% of total employed workers are full-time (35+ hours) and 16.5% of total employed workers are part-time (<35 hours).
Stop Selling the Future
Few prospects have the mental bandwidth to plan ahead five weeks, let alone five to 20 years.
PayPal Rival Fintech Adyen Faces Investor Confidence Test
For years, Dutch payments fintech Adyen NV’s founders and management ran things their own way, thanks to some blowout growth.
Was Bankman-Fried Wrongly Convicted?
Sam Bankman-Fried’s widely anticipated guilty verdict has been rendered. But Michael Lewis’ book raises many questions, including the existence and extent of an actual crime.
Michael Lewis Paves the Road to Hell
Michael Lewis’ book on SBF is woefully incomplete, rather like a canvas that Rembrandt inexplicably left half blank, for the book elides three major questions.
American Banks Now Look Poised to Stoke the Economy
One consistent overhang in an otherwise pretty good year for the US economy has been tightening credit standards at banks.
The Price of Money Is Going Up, and It’s Not Only Because of the Fed
What’s the most important price in the global economy? The price of oil? The price of semiconductors? The price of a Big Mac? More important than any of these is the price of money. For more than three decades it was falling.
Winner-Take-All Rally Spurs Big Distortion Among S&P 500 Members
The S&P 500’s pitch is simple. Own it and get exposure to the biggest of the big among US firms. Lately, it’s gotten harder to maintain that point of distinction.
Raising Your Fees Won't Leave You Homeless
You have nothing to lose when you increase your fees to match the value you deliver. Advisors chronically undercharge for the value they provide.
China Foreign Investment Gauge Turns Negative For First Time
A measure of foreign investment into China turned negative for the first time since records began in 1998, highlighting how foreign companies are pulling money out of the country due to geopolitical tensions and higher interest rates elsewhere.
Crypto ETFs: What’s Next?
It has been several weeks since ether futures ETFs have launched with little fanfare in early October. But since then, the crypto ETF market has seen several significant events which has caused the price of bitcoin to rise to near $35,000.
Cathie Wood Says Bitcoin Is ‘Digital Gold’ as Deflation Hedge
Cathie Wood says she would unambiguously wager on Bitcoin — rather than gold or cash — to safeguard against the possibility of deflation in the coming decade.