December’s whipsaw opening shows investors may be concerned November’s epic rallies went too far, too fast in anticipating a near-perfect soft landing for the economy.
Including one or more charitable trusts as part of a testamentary estate plan is a creative and powerful way for clients to achieve multiple goals in one estate planning vehicle.
If you shift your mindset to become a financial doctor to your prospects, you no longer have to dispense information or advice pre-sale to prove yourself.
As the profession requires more advisors, targeting a wider talent pool and creating a structure to support their success is essential.
What is a financial therapist, and how do you know when you need one?
The AQR Style Premia Alternative Fund (QSPIX) was introduced a decade ago to provide pure exposure to four market factors that had historically delivered excess returns. Let’s look at how it performed over that period.
Use the holiday season to understand what's important to our clients and what they want to achieve with their money.
The rapid rise of funds that make loans directly to buyout deals and other highly indebted companies — known as private credit — is among the hottest topics in finance.
When news stories emerged last week that OpenAI had been working on a new AI model called Q* (pronounced “q star”), some suggested this was a major step toward powerful, humanlike artificial intelligence that could one day go rogue.
Two years ago, the Journal of Finance — the most prestigious journal in the field — retracted a published paper because of data errors, either the first or second withdrawal ever by a top-three finance journal.
In November, Treasury rates dropped, and risk assets rallied. The market expects continuing drops in inflation and slower, but not disastrous, growth. The data support the market's sanguine assessment.
While corporate insiders are increasingly betting on shares of their own firms, bosses at the S&P 500’s best-performing company are cashing in.
Across Wall Street, analysts and investors had cheered 2023 as the year of emerging markets, only to be burned by a relentless climb in US Treasury yields. Now, as the Federal Reserve looks set to end its most aggressive monetary tightening campaign in a generation, they’re at it again.
US stocks are headed for a rocky end to the year after rallying in November as bond yields fluctuate, according to Morgan Stanley’s Michael Wilson.
Bitcoin has jumped more than 140% this year to outstrip other investments like stocks and gold, and optimism for further gains is high.
A torrid bond market rally shows traders are convinced the Federal Reserve’s rate-rising cycle is over. The debate now turns to when central bankers start cutting, and by how much.
Victor Haghani has thought long and hard about his participation in the 1998 blowup of LTCM. His big mistake, he concluded, was investing 80% of his personal assets in the firm.
Money managers including Invesco Ltd. and Loop Capital Asset Management are bullish on regional-bank bonds, wagering that the debt will perform better than the broader market as fears about funding costs settle down.
In a year in which little has gone right in the US bond market, November turned out to be a month for the record books.
Federal Reserve Chair Jerome Powell pushed back against Wall Street’s growing expectations of interest-rate cuts in the first half of 2024, saying the committee will move cautiously with borrowing costs at a 22-year high but retain the option to hike further.
Decades-high interest rates are poised to revive interest in a little-used corner of the municipal-bond market: variable rate deals.
OpenAI’s power brokers seem to have decided that the quickest fix for last week’s dysfunction is to borrow a page from corporate America’s playbook by adding some establishment figures to its board.
November will be etched in the memories of investors as a remarkable month.
Risk premiums on US investment-grade corporate bonds have narrowed to the tightest level in nearly two years on expectations that the Federal Reserve has reached the peak of its monetary-tightening cycle.
“Let me tell you about the very rich. They are different from you and me.” F. Scott Fitzgerald could have added that they are also generationally different from each other.
On Wall Street and in the financial media, many of us make our living by attempting to say “smart stuff” about the Federal Reserve. Unfortunately in some cases, that creates an incentive to make central banking out to be more complicated than it is.
“I have never been more excited about the future,” wrote Sam Altman, the reinstated chief executive officer of OpenAI, to his subordinates on Wednesday, in a statement formally announcing his return and the rebuilding of the company’s fractured board.
Charlie Munger, the longtime vice chairman of Berkshire Hathaway Inc., who died on Tuesday at the age of 99, will be exalted for many things in the coming days.
Persuasive architecture is an effective strategy to create a website that answers your ideal clients’ questions and concerns while guiding them down a path that leads to conversion.
Even Ken Griffin is a little worried. Multimanager funds like Griffin’s Citadel have come to dominate the hedge fund industry, riding a steady run of outperformance to oversee more than $1 trillion, including a healthy dose of leverage.
The last time the municipal bond market rallied so much, it was Paul Volcker — and not Jerome Powell — who was winning a war on inflation.
As a rush of Wall Street strategists call for all-time highs in US stocks in the year ahead, JPMorgan Chase & Co. stands apart, releasing the gloomiest forecast so far among its peers.
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.
The unhappiness of American consumers despite rapid job and economic growth in the past few years is a hotly debated topic. Is it inflation? High borrowing costs for homes and automobiles? Crowded airports and packed airplanes?
Now that inflation is finally decelerating, regulators are increasingly turning their focus to financial stability.
The problem is not a deficit or a debt-issuance problem. It's an interest rate problem.
The private equity industry’s push into credit is so well advanced that no one bats an eyelid when the same buyout firm is invested in the debt and equity of the same portfolio company.
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 US economy grew at an even faster pace in the third quarter than originally estimated, reflecting upward revisions to business investment and government spending.
The highest compliment I receive from clients is when they tell me they don’t feel like our relationship is transactional.
Global bonds are soaring at the fastest pace since the 2008 financial crisis.
US regulators’ swift action in March to ring-fence the banking sector after the collapse of Silicon Valley Bank might have had an unintended consequence of driving cash out of bond funds, by enhancing the appeal of deposits.
Content creation is a lot like building furniture; you need a plan and the right components.
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.
It’s the latest critique of the passive-investing boom: Fresh academic research claims that the relentless flood of index-chasing cash on Wall Street is distorting stock prices and causing extreme market moves.
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.
BMW AG Chief Executive Officer Oliver Zipse was incredulous when asked this month whether the German premium carmaker would respond to a brutal price war in electric vehicles by cutting production.
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.
