Recent labor agreements in the auto and airline industries spotlight the profitability conundrum facing US companies—and equity investors.
November will be etched in the memories of investors as a remarkable month.
Economic conditions now are quite different from the 1970’s and still disinflationary.
The likes of consumer resiliency based on the earliest readings on Black Friday sales and the degree to which the Artificial Intelligence theme continues support the idiosyncratic tendencies of the markets concentrated in the Magnificent 7.
Valid until the market close on December 31, 2023
The S&P 500 closed November with a monthly gain of 8.92%, after a loss of 2.20% in October. After close on the last day of the month, one of five Ivy portfolio ETFs — iShares 7-10 Year Treasury Bond ETF (IEF) — is signaling "cash", down from last month's final quadruple "cash" signal.
Real estate headlines seem to only focus on bad news right now, from remote work’s impact on offices to struggles for city center retail.
Drew O'Neil discusses fixed income market conditions and offers insight for bond investors.
Whether famous or infamous, the Magnificent 7 stocks have been 2023’s stock market story. However, the fundamentals of the Magnificent 7 aren't uniquely superior, and the breadth and depth of other growth opportunities seems historically large and attractive. In our latest insight, we complete an analysis of US companies with expected earnings growth greater than 25% and compare it against the Magnificent 7 stocks.
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.
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.
Let’s go back four decades and consider a few key indicators of wellbeing.
The highest compliment I receive from clients is when they tell me they don’t feel like our relationship is transactional.
Content creation is a lot like building furniture; you need a plan and the right components.
While equity styles go in and out of favor, quality companies continue to serve clients as a core holding, resilient to economic headwinds and market drawdowns. For long-term investors searching for a durable equity solution, we believe quality is “the real McCoy"
I enjoy my work under normal circumstances, and I appreciate my clients. But this year faking happiness over material things isn’t in my DNA.
The rebound in Adyen NV and its European fintech peers this month has been notable, but investors should brace for a bumpy road ahead.
The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists.
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.
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
The TDF industry is dominated by a few firms that form an oligopoly that is hard to disrupt. It’s no surprise that non-oligarchs are spearheading the movement to personalization.
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.
The growth of the federal deficit in the post-COVID era, coupled with the political unwillingness to increase taxes, foretells higher-than-historical inflation rates, according to new research.
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.
Reeling from a bear market last year, beaten-up investors decided to send more than $60 billion to exchange-traded funds focusing on dividends.
As I wrote this blog, the S&P 500 index is up roughly 17% year-to-date. Most likely, your portfolio isn’t. This is a common frustration among many investors in the market this year in particular.
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.
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.
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.
Year to date, the Russell 2000’s scant 1% gain is dwarfed by the S&P 500’s 18% gain. But that could be changing. After dominating much of 2023, large-caps could potentially step aside for small-caps to take the majority of gains.
What are some of the more unique gifts or events advisors are doing for clients?
My previous webinars were sponsored by my clients. Everything was handled for me. With this one, I was entirely on my own.
The Age of AI (And Our Human Future), by Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher, is keenly relevant.
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.
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.
For the better part of two years, investors have been primed with hope of a “Fed pivot” that will presumably restore easy monetary policy and supportive conditions for the financial markets.
Are you an “investor” or a “speculator?”
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.
A new psychological contract is transforming the modern workplace, highlighted by an increase in collective actions and changing employee expectations.
The federal government starts a new fiscal year every October 1. In a rational world, Congress would fulfill its responsibilities by passing bills before that date to authorize spending in the various agencies and programs.
The run-off election looks tight in Argentina, where I’m attending a Young Presidents’ Organization (YPO) event in Buenos Aires.
At first blush, a record $100 billion flood into actively managed exchange-traded funds this year raises a tantalizing prospect: A revival of stock picking even as only Big Tech names outperform the market. Yet, a look under the hood of popular ETFs shows the boom is almost entirely taking place in passive-looking trades.
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
As we approach the final months of 2023, consumer strength has been somewhat mixed but has overall been running out of steam due to stubbornly high grocery prices and higher housing costs. Interestingly, consumers continue to spend on experiences like concerts, movies, and restaurants.
Confounding market and economic signals persist as the year’s end draws near. In a year punctuated by heightened uncertainty as investors attempted to navigate a confluence of risk factors, stock and bond correlations proved a significant challenge to traditional portfolios.
The Chicago Fed National Activity Index (CFNAI) is arguably one of the most important and overlooked economic indicators.
How do I instill strong management skills in my next-level management team?
For Meta Platforms Inc. bulls, the biggest one-day stock wipeout in history is a fading sight in the rear-view mirror.
A client-centric approach, focused on empowering prospects and clients rather than directing them, is more persuasive and will lead to a more productive, meaningful relationship.
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.
Like some advances earlier this year, the market's current surge hasn't been defined by strong breadth underneath the surface—which will be key for a sustained, durable advance.
We speak with ClearBridge Investments’ Jeff Schulze about a topic on many investors’ minds: the 10-year US Treasury yield and the path of monetary policy. He also shares his views on the latest US retail sales data and whether consumer resilience will last into 2024.
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.
Good news – the earnings recession is over! After three consecutive quarters of negative earnings growth, 3Q S&P 500 earnings are on pace to climb 5% YoY. If sustained, this would be the best quarter of earnings growth since 2Q22.
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.
Interest on our federal debt is 2% and heading towards 5%, which will crowd out other expenditures and escalate deficit spending.
Research on tax-efficient retirement distribution strategies aims to sequence withdrawals from taxable, tax-deferred, and tax-exempt accounts to maximize after-tax spending. That can be either in terms of meeting an after-tax spending goal for as long as possible or preserving the most after-tax legacy after meeting spending needs over a specified timeframe.
Is the bond bear market finally over? That is the question everyone is asking now that bond prices rallied sharply following the November FOMC policy meeting.
Worries about an economic downturn aren’t enough to dissuade market participants from being bullish on risky debt as their top contrarian trade, according to the latest Bloomberg Markets Live Pulse survey.
The quality of financial advice on social media platforms such as Instagram and TikTok is up for debate. But it’s not debatable that many younger investors turn to those platforms for investing advice. They also use those platforms to voice their opinions on specific stocks.
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.
Just six metrics can effectively assess sovereign issuers’ sustainability and provide guidance for both issuers and investors.
The doves lined up last week guiding the S&P500 up 5.85%, marking the best week of performance for the year. A busy week of data began with the quarterly refunding announcement from the Treasury.
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.
The bond market giveth and the bond market taketh away. The S&P 500 Index closed in the red Thursday, blowing its widely-hyped chance at a nine-day winning streak, which would have been its best run since 2004.
Exploring federal budget data is a journey through endless rabbit holes, some of which are eerily close to Alice in Wonderland insanity. Countless variables interact in unexpected ways. Seemingly small changes can cascade into billions of dollars within a few years.
For this edition of Bull vs. Bear, Nick Peters-Golden and James Comtois debate whether this is truly the year active ETFs turned pretty.
Despite substantially tighter monetary policy, the strength of jobs and retail sales stumped expectations of a recessionary downturn in 2022.
The S&P 500’s best week in a year was driven by investors locking in profits on bearish bets, suggesting little room for further gains, according to Citigroup Inc. strategists.
The direction of interest rates was the biggest factor moving markets in the third quarter. Sentiment on technology stocks appeared to shift. Money market assets reach historic high, but returns lag stock market.
A recent study found significant differences in how our brains process in-person meetings and Zoom calls versus in-person meetings.
I’ll share some important insights gleaned from many decades of working in the advisory profession and being both an insider and an outsider.
Everything in the world is relative, including Warren Buffett’s cash position.
User engagement is up on LinkedIn. How can you capitalize on it? Here are six steps to cultivate a LinkedIn network.
The team responsible for assembling BlackRock Inc.’s model portfolios is favoring the stock market’s largest companies, potentially unleashing a flood of billions of dollars into technology shares.
Pay enough attention to small-cap stocks and ETFs as of late and it’s easier for even novice investors to identify at least two prominent points.
The S&P 500 Index’s best week in a year has brought the broad equities benchmark to a decisive point where stocks can make a significant break higher or find their gains capped.
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.
While often difficult, investing rules can help us maintain our focus and investment discipline in volatile or uncertain markets.
In Q3, the strongest performance among factors was seen in developed ex-U.S. large cap and small cap and U.S. small cap, where Value outperformed by 4.9%, 3.3% and 3.3%, respectively. The weakest performance among factors was in U.S. small cap, where the Size factor underperformed by -2.4%.
Large Cap Growth
Labor Squeeze: Auto and Airline Deals Drive US Margin Challenges
Recent labor agreements in the auto and airline industries spotlight the profitability conundrum facing US companies—and equity investors.
Uncertainty Looms Over a November to Remember
November will be etched in the memories of investors as a remarkable month.
It Won’t Be a Repeat of the 1970’s
Economic conditions now are quite different from the 1970’s and still disinflationary.
Black Friday Expectations & AI Hype
The likes of consumer resiliency based on the earliest readings on Black Friday sales and the degree to which the Artificial Intelligence theme continues support the idiosyncratic tendencies of the markets concentrated in the Magnificent 7.
Moving Averages: S&P Finishes November Up 8.9%
Valid until the market close on December 31, 2023
The S&P 500 closed November with a monthly gain of 8.92%, after a loss of 2.20% in October. After close on the last day of the month, one of five Ivy portfolio ETFs — iShares 7-10 Year Treasury Bond ETF (IEF) — is signaling "cash", down from last month's final quadruple "cash" signal.
Real Estate: The Underrated Alts Segment
Real estate headlines seem to only focus on bad news right now, from remote work’s impact on offices to struggles for city center retail.
Bond Market Perspective
Drew O'Neil discusses fixed income market conditions and offers insight for bond investors.
Magnificence Beyond the Magnificent 7
Whether famous or infamous, the Magnificent 7 stocks have been 2023’s stock market story. However, the fundamentals of the Magnificent 7 aren't uniquely superior, and the breadth and depth of other growth opportunities seems historically large and attractive. In our latest insight, we complete an analysis of US companies with expected earnings growth greater than 25% and compare it against the Magnificent 7 stocks.
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.
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.
Are We Living in The "Good Old Days"?
Let’s go back four decades and consider a few key indicators of wellbeing.
Create a Non-Transactional Relationship
The highest compliment I receive from clients is when they tell me they don’t feel like our relationship is transactional.
How to Create Content with Purpose
Content creation is a lot like building furniture; you need a plan and the right components.
Quality: The Real McCoy
While equity styles go in and out of favor, quality companies continue to serve clients as a core holding, resilient to economic headwinds and market drawdowns. For long-term investors searching for a durable equity solution, we believe quality is “the real McCoy"
There’s Too Much Trouble in the World to Have a Holiday Party
I enjoy my work under normal circumstances, and I appreciate my clients. But this year faking happiness over material things isn’t in my DNA.
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.
Sharp US Stock Rally Is Running Out of Steam, Citi Strategists Say
The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists.
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.
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 Movement to Personalize Target Date Investing
The TDF industry is dominated by a few firms that form an oligopoly that is hard to disrupt. It’s no surprise that non-oligarchs are spearheading the movement to personalization.
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.
Fiscal Deficits Drive Higher Inflation
The growth of the federal deficit in the post-COVID era, coupled with the political unwillingness to increase taxes, foretells higher-than-historical inflation rates, according to new research.
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.
Billions Wiped Out as Stock-Safety Trade on Wall Street Misfires
Reeling from a bear market last year, beaten-up investors decided to send more than $60 billion to exchange-traded funds focusing on dividends.
S&P 500 Market Returns And Why Your Performance Is Worse
As I wrote this blog, the S&P 500 index is up roughly 17% year-to-date. Most likely, your portfolio isn’t. This is a common frustration among many investors in the market this year in particular.
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.
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.
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.
After Large-Caps Dominance, It Could Be Small Cap’s Turn
Year to date, the Russell 2000’s scant 1% gain is dwarfed by the S&P 500’s 18% gain. But that could be changing. After dominating much of 2023, large-caps could potentially step aside for small-caps to take the majority of gains.
New and Creative Ideas for Holiday Gifts
What are some of the more unique gifts or events advisors are doing for clients?
My Webinar Experience: How I Avoided the Big Mistakes
My previous webinars were sponsored by my clients. Everything was handled for me. With this one, I was entirely on my own.
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.
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.
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.
Soft Selling a Hard Landing
For the better part of two years, investors have been primed with hope of a “Fed pivot” that will presumably restore easy monetary policy and supportive conditions for the financial markets.
Speculator Or Investor? What’s The Difference?
Are you an “investor” or a “speculator?”
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.
A Changing World: The New Psychological Workplace Contract
A new psychological contract is transforming the modern workplace, highlighted by an increase in collective actions and changing employee expectations.
Socially Insecure
The federal government starts a new fiscal year every October 1. In a rational world, Congress would fulfill its responsibilities by passing bills before that date to authorize spending in the various agencies and programs.
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.
A $100 Billion ETF Flood Offers Little Solace to Active Managers
At first blush, a record $100 billion flood into actively managed exchange-traded funds this year raises a tantalizing prospect: A revival of stock picking even as only Big Tech names outperform the market. Yet, a look under the hood of popular ETFs shows the boom is almost entirely taking place in passive-looking trades.
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
E-commerce Counting on Discounts for Remainder of 2023
As we approach the final months of 2023, consumer strength has been somewhat mixed but has overall been running out of steam due to stubbornly high grocery prices and higher housing costs. Interestingly, consumers continue to spend on experiences like concerts, movies, and restaurants.
The Problem of Mixed Market Signals and Correlations
Confounding market and economic signals persist as the year’s end draws near. In a year punctuated by heightened uncertainty as investors attempted to navigate a confluence of risk factors, stock and bond correlations proved a significant challenge to traditional portfolios.
CFNAI: The Most Important & Overlooked Economic Number
The Chicago Fed National Activity Index (CFNAI) is arguably one of the most important and overlooked economic indicators.
How to Turn Your Team into Great Managers
How do I instill strong management skills in my next-level management team?
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.
Convert the Confrontational Prospect
A client-centric approach, focused on empowering prospects and clients rather than directing them, is more persuasive and will lead to a more productive, meaningful relationship.
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.
Roller Coaster: Markets Take a Ride
Like some advances earlier this year, the market's current surge hasn't been defined by strong breadth underneath the surface—which will be key for a sustained, durable advance.
How Long Will Consumers Keep Spending?
We speak with ClearBridge Investments’ Jeff Schulze about a topic on many investors’ minds: the 10-year US Treasury yield and the path of monetary policy. He also shares his views on the latest US retail sales data and whether consumer resilience will last into 2024.
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.
Key Takeaways as Earnings Season Winds Down
Good news – the earnings recession is over! After three consecutive quarters of negative earnings growth, 3Q S&P 500 earnings are on pace to climb 5% YoY. If sustained, this would be the best quarter of earnings growth since 2Q22.
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.
“Guns or Butter” Has Become “Guns and Butter”
Interest on our federal debt is 2% and heading towards 5%, which will crowd out other expenditures and escalate deficit spending.
Managing Taxes in Retirement using the Effective Marginal Tax Rate
Research on tax-efficient retirement distribution strategies aims to sequence withdrawals from taxable, tax-deferred, and tax-exempt accounts to maximize after-tax spending. That can be either in terms of meeting an after-tax spending goal for as long as possible or preserving the most after-tax legacy after meeting spending needs over a specified timeframe.
Bond Bear Market. Is It Dead, Or Just Hibernating?
Is the bond bear market finally over? That is the question everyone is asking now that bond prices rallied sharply following the November FOMC policy meeting.
Buying Junk Bonds Is the Top Contrarian Trade for 2024
Worries about an economic downturn aren’t enough to dissuade market participants from being bullish on risky debt as their top contrarian trade, according to the latest Bloomberg Markets Live Pulse survey.
Social Media’s Abuzz About Stocks in These ETFs
The quality of financial advice on social media platforms such as Instagram and TikTok is up for debate. But it’s not debatable that many younger investors turn to those platforms for investing advice. They also use those platforms to voice their opinions on specific stocks.
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.
Six Metrics Light the Path to Sustainability for Emerging-Market Sovereigns
Just six metrics can effectively assess sovereign issuers’ sustainability and provide guidance for both issuers and investors.
Lining Up The Doves
The doves lined up last week guiding the S&P500 up 5.85%, marking the best week of performance for the year. A busy week of data began with the quarterly refunding announcement from the Treasury.
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.
S&P 500’s Busted Winning Streak Was a Mirage Anyway
The bond market giveth and the bond market taketh away. The S&P 500 Index closed in the red Thursday, blowing its widely-hyped chance at a nine-day winning streak, which would have been its best run since 2004.
What Could Go Wrong?
Exploring federal budget data is a journey through endless rabbit holes, some of which are eerily close to Alice in Wonderland insanity. Countless variables interact in unexpected ways. Seemingly small changes can cascade into billions of dollars within a few years.
Bull vs. Bear: Active ETFs Rising — Meaningful or Mirage?
For this edition of Bull vs. Bear, Nick Peters-Golden and James Comtois debate whether this is truly the year active ETFs turned pretty.
Job And Retail Sales Data: Always Good Until They Aren’t
Despite substantially tighter monetary policy, the strength of jobs and retail sales stumped expectations of a recessionary downturn in 2022.
Citi Sees Risk to US Stock Rally After Investors Lock In Profits
The S&P 500’s best week in a year was driven by investors locking in profits on bearish bets, suggesting little room for further gains, according to Citigroup Inc. strategists.
Q3 Economic and Market Review: All Eyes on the Direction of Interest Rates
The direction of interest rates was the biggest factor moving markets in the third quarter. Sentiment on technology stocks appeared to shift. Money market assets reach historic high, but returns lag stock market.
How to Improve Zoom Engagement
A recent study found significant differences in how our brains process in-person meetings and Zoom calls versus in-person meetings.
A Birthday Reflection – Five Life Lessons
I’ll share some important insights gleaned from many decades of working in the advisory profession and being both an insider and an outsider.
Buffett’s $157 Billion Cash Pile Isn’t an Ominous Sign
Everything in the world is relative, including Warren Buffett’s cash position.
Building and Engaging Your LinkedIn Network
User engagement is up on LinkedIn. How can you capitalize on it? Here are six steps to cultivate a LinkedIn network.
BlackRock’s $100 Billion Model Makers Are Betting on Megacaps
The team responsible for assembling BlackRock Inc.’s model portfolios is favoring the stock market’s largest companies, potentially unleashing a flood of billions of dollars into technology shares.
History Bodes Well for Potential Small-Cap Rally
Pay enough attention to small-cap stocks and ETFs as of late and it’s easier for even novice investors to identify at least two prominent points.
S&P 500 Nears Its Next Roadblock After the Best Week in a Year
The S&P 500 Index’s best week in a year has brought the broad equities benchmark to a decisive point where stocks can make a significant break higher or find their gains capped.
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.
Investing Rules To Navigate Volatile Markets
While often difficult, investing rules can help us maintain our focus and investment discipline in volatile or uncertain markets.
Equity Factor Report - Q3 2023: Value Strategies Rally as Bullish Sentiment Dampens
In Q3, the strongest performance among factors was seen in developed ex-U.S. large cap and small cap and U.S. small cap, where Value outperformed by 4.9%, 3.3% and 3.3%, respectively. The weakest performance among factors was in U.S. small cap, where the Size factor underperformed by -2.4%.