The sweeping 900-page tax and spending law signed on July 4 introduces a wide array of provisions that touch nearly every American in one way or another.
As central banks scramble to increase their gold reserves, many are turning to domestic mine production to save money, support local industry, and expand their reserves.
Volatility often evokes emotional responses from investors. Two big sell-offs in early 2025 reminded us why it’s important to fight those responses and stay invested through downturns.
Current volatility and optimism are some of the topics being discussed in this new roundtable from Royce Investment Partners.
July didn’t need to reach the halfway point before bitcoin notched double-digit gains.
It’s a quirk in the booming world of passive investing: Famed tech fund QQQ is the most profitable offering in the $11.7 trillion ETF industry, but Invesco Ltd. earns virtually nothing from running it. Now the asset manager is asking shareholders to change that.
Conventional wisdom has it that the rise of robotaxis is bad for Uber Technologies Inc. and oh so good for Tesla Inc.
If you’re a venture capitalist, you dream of backing the next billion-dollar startup to one day feast on the returns of a sale.
GE Aerospace just hit it out of the park on earnings.
When you have a significant underperformance period, investors have a good reason for wondering if you’ve lost your investing mojo.
As of June 2025, the relative valuation of the cheapest 50% of the U.S. stock market compared to the expensive half is at the 3rd percentile in our 40+ years of data.
Last week, Nvidia—whose processors are a key driver of the AI wave—became the world’s first publicly traded company to hit $4 trillion in market value.
The second quarter featured a trade war, armed conflicts in the Middle East and Europe, and continued turmoil in Washington, yet markets continued to rally, likely due to an elevated money supply and an increase in passive investing.
Contrary to popular belief, investors can use TradFi best practices to analyze on-chain KPIs of DeFi networks and the underlying fundamentals of the tokens that drive them.
The capital markets have become an increasingly complex space for investors, complexities that are heightened by the sheer number of ways one can invest.
Not sure which to choose? Here are some things to consider about individual bonds vs. bond funds.
Goldman reported record equity trading revenue in second-quarter earnings on Wednesday and trounced its peers with a rebound in investment banking revenue that was fueled by a 70% jump in deal-making fees versus the same period last year.
The sharp division between public and private securities was a major bulwark of financial regulation from the New Deal in the 1930s to the end of the 20th century.
Swedish private equity group EQT AB reported better-than-expected underlying profit in the first half of 2025 as exit volumes jumped and all of its funds performed at or above plan.
Just four months into his tenure at the Pentagon, private equity billionaire Steve Feinberg has landed his first big deal: a $400 million bet on the US’s only miner of rare-earth elements, a key commodity in the rivalry with China.
June was a month of stabilization and subtle strength for preferreds.
We have a truly inspiring corporate leader among the companies in our portfolio. We don’t believe the global equity markets have realized it yet.
Global equity markets swung from steep losses to fresh highs during the quarter. In early April, President Trump imposed a baseline 10% tariff and reciprocal tariffs of up to 50% on dozens of trading partners, only to suspend most reciprocal tariffs for 90 days amid market panic.
Investors may be happy to shift some of their focus away from the ongoing tariff saga and back toward economic data and earnings reports.
In this video, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation, discusses Becton Dickinson (BDX), 53 years of dividend growth, a medical diagnostics company that has increased its dividend for 53 consecutive years.
The two teams share aligned values and a commitment to providing customized wealth management solutions for their clients.
Your technology matters. Your processes matter. But your team determines whether you scale or stagnate. Your people will make or break your growth story; choose wisely.
What was once dismissed as a fringe fantasy by a niche band of crypto believers is now being tentatively examined by the government-sponsored entities at the core of the US housing market.
Chief executive officers in the US and beyond are becoming accustomed to the policy swings of President Donald Trump and are deciding they can pursue growth ambitions regardless.
In roughly seven years, Qube Research & Technologies has grown into a hedge fund powerhouse without setting foot in the US — the industry’s mecca. That’s about to change.
For many years, the pension plan has often been a drag on a corporation’s financial positions. Now that’s generally no longer the case, and it’s time to consider what’s next.
The RAFI™ Fundamental Index has a value tilt, but to characterize it as a value index would be an oversimplification that misses the important advantages that the fundamental index offers above standard “value” index approaches.
As artificial intelligence transforms industries, investors face a critical question: How can they strategically approach investments in AI ETFs? Rene Reyna, head of Thematic and Specialty Product Strategy for ETFs at Invesco, offers valuable insights into navigating this complex landscape.
High yield bonds have historically delivered attractive long-term returns, and since the Great Financial Crisis they have also become higher quality, as weaker borrowers have departed the sector for the private credit and leveraged loan markets.
Markets continued their strong run last week before pulling back slightly as a flurry of tariff rhetoric hit the wires. It’s important to understand markets are rallying because they assume these tariff threats are more political posturing than lasting economic policy.
Drew O’Neil discusses fixed income market conditions and offers insight for bond investors.
A couple of years ago, I wrote about absolute versus relative returns. Given the latest market run, I am getting a lot of questions about chasing returns, and individuals comparing themselves to the S&P 500 index.
Emerging market (EM) countries are often generalized as all the same and driven by commodity prices. The reality can be very different. Here's what you should know about EM stocks now.
With the One Big Beautiful Bill Act (OBBBA) signed into law on July 4, this note briefly discusses some of the implications for energy broadly and the energy infrastructure space.
On Wednesday, Vanguard expanded its fixed income ETF selection with the launch of three new funds.
As 2025 progresses, investors and policymakers are navigating a highly complex economic landscape shaped by three powerful and interrelated forces: evolving trade policy, a cautious U.S. Federal Reserve (Fed), and growing concerns over U.S. fiscal discipline.
How can you be sure the information and recommendations your advisor offers you are not biased by their political views?
Investors who overlook the potential of card reward programs may be missing out on benefits that can contribute to the abundant lifestyle they are looking to build.
BlackRock Inc. pulled in $46 billion to its investment funds, and assets hit a record $12.5 trillion as clients rode out the volatility of President Donald Trump’s tariff policies in the second quarter.
JPMorgan Chase & Co.’s investment bankers eked out a surprise gain in the second quarter, signaling what may be the start of a dealmaking rebound after widespread hesitation tied to US tariff policies.
Apple Inc. has struck a $500 million deal to buy rare-earth minerals from MP Materials Corp., the US producer that just last week secured backing from the Pentagon.
Housing affordability has become a flashpoint in the US economy. How can the country be truly wealthy when the bulk of a rising generation can’t afford a home?
Nvidia Corp. and Advanced Micro Devices Inc. plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.
We continue to believe we are seeing a rare opportunity in EM local debt, and our conviction has been strengthened by the Trump administration’s trade and economic policies, which suggest continued dollar weakness and relative strength for EM local currencies.
As the second quarter earnings season kicks into gear, Wall Street analysts are forecasting modest earnings growth of 4.8% for companies in the S&P 500.
Every year around this time, we update our Periodic Table of Commodities Returns to reflect the performance of raw materials in the first six months. I’m biased, but few tools do a better job of providing a clear, interactive picture of the commodities landscape than ours.
The right level of regulation requires careful calibration.
Geopolitical flare-ups and a “wait-and-see” Federal Reserve stance have created plenty of noise, but markets continue to defy the headlines with a balanced global allocation and improving sentiment indicators.
Tokenization of real assets might make liquidity problems even more obvious. Making assets digital doesn't mean they'll be easier to sell or trade. It could just highlight how hard they really are to sell, and it won’t change the market demand either.
Eight of the nine indexes on our world watch list have posted gains through July 14, 2025.
In this paper, we study the emotional benefits and time-saving value that paid professional financial advice provides to clients.
When I read Barry Ritholtz’s recent book, I agreed with it almost 100 percent. The main themes of Ritholtz’s book are, first, that nobody can predict anything, let alone the stock market, and that therefore, second, you should invest in a low-cost index fund.
US mega caps are attractive as they’re likely to be boosted by the fiscal spending bill as well as a robust earnings outlook, according to Morgan Stanley strategists.
Banks are looking to sell $2.25 billion of term loans and $2 billion equivalent of bonds for Boots, to help finance its acquisition by US private equity firm Sycamore Partners, according to people familiar with the matter.
Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.
Apple Inc. is facing pressure to shake up its corporate playbook to invigorate its struggling artificial intelligence efforts.
Fixed income benchmarks have two fundamental flaws. First, their exposures prioritize the needs of borrowers rather than investors. Second, they tend to expose investors to the biggest risks at the worst times.
The second quarter’s rapid recovery from April’s market volatility reminds us how powerful a systematic rules-based approach to tax management can be.
Last week, the iShares Flexible Income Active ETF (BINC) reached a significant milestone and became the latest member of the $10 billion of the active fixed income club.
Most of us are not prepared for the incredible degree of change Artificial Intelligence (AI), combined with automation, is bringing to society.
At a private markets conference focused on the ultra-rich in London this week, the typically discreet sector was notably candid about its growing interest in private credit.
Banks from Wells Fargo & Co. to smaller Japanese lenders are flocking to top-rated collateralized loan obligation deals, pushing up secondary prices for buyout debt.
A multibillion-dollar capital markets experiment is unfolding on Wall Street, as entrepreneurs use blank-check companies and reverse mergers to take their holdings of digital assets public.
JPMorgan Chase & Co. bosses grew curious last summer as they clocked an unusual number of absences at the training sessions that kicked off their ultra-competitive junior analyst program.
With the price of digital assets testing the boundaries of plausibility, and Congress promising legislation to boost the industry further, now might be a good time for bank regulators to take notice.
Nothing says talent war like a $100 million job offer. Mark Zuckerberg has been on a hiring blitz for AI’s most revered scientists, sending them cold emails and offering them roles in his new Superintelligence Labs division whose goal is nothing less than to build artificial-intelligence software that’s smarter than humans.
Young Americans are having trouble becoming fully independent adults. Millennials, who were long ridiculed for being boomerang kids who scurried back to mom and dad’s basement after leaving the security blanket of college, know a thing or two about that.
Three ETF strategies that launched in June stand out, bringing something interesting to the table for investors.
The valuation of small-cap stocks relative to large caps remains historically attractive, and small-cap recoveries in the past have resulted in meaningful periods of outperformance.
As we reach the midpoint of 2025, we reflect on the notably volatile trajectory of bond yields so far this year, considering the potential opportunity for tax-aware fixed income investors to harvest losses.
We are in a period of market greed right now, even if you haven’t noticed it.
Franklin Mutual Series shares its mid-year outlook, focusing on corporate fundamentals as a catalyst to unlock value in the midst of ongoing market volatility.
Liberation Day seems like a lifetime ago. But the 90-day pause is almost over, and—thus far—there are few deals that have been consummated.
In this article, you’ll learn how to evaluate crypto ETFs with the same rigor you apply to traditional investment products.
A new era of regulation is bound to bring high hopes for the crypto bulls. House Republicans are now gearing up for “Crypto Week” – during which the committee has agreed to prioritize digital asset legislation and review several crypto-related bills.
At the recent 2025 Morningstar Investment Conference, CEO Kunal Kapoor highlighted a growing trend that is reshaping the investment landscape.
Our strategy work and quantitative insights suggest the conditions behind more than a decade of U.S. equity outperformance are starting to shift.
Our long-time investors are probably wondering why we haven’t made any gains over the last 18 months.
Futures traders have been unwinding some large bullish bets on Treasury bonds, adding to the recent upward pressure on US yields after a surprisingly strong jobs report last week.
Elevated interest rates and market uncertainty make for an interesting tandem regarding getting core bond exposure. When considering yield, reinforcing a portfolio to absorb market shocks, or both, consider this active option from Vanguard: the Vanguard Core-Plus Bond ETF (VPLS).
How the Matthews Emerging Markets Equity Fund’s strategy helped it achieve outperformance during a historic period for global markets.
The headline employment figure came in stronger than expected and better than feared following the weak ADP report, but the details were far from a blockbuster.
They have been called “the four most costly words in the annals of investing,” and surely that’s true: This time is different. Still — hear me out! — there are reasons to entertain the possibility that, well, this time really is different.
Private equity has officially conquered the registered investment advisor (RIA) landscape. It is now responsible for a significant portion of RIA-linked M&A activity.
It was a positive quarter for emerging markets equities.
Active Management
Potential Fiscal Impact of the 'One Big Beautiful Bill Act'
The sweeping 900-page tax and spending law signed on July 4 introduces a wide array of provisions that touch nearly every American in one way or another.
Central Banks Buying More Domestically Produced Gold
As central banks scramble to increase their gold reserves, many are turning to domestic mine production to save money, support local industry, and expand their reserves.
Resisting Temptation in Volatile 2025 Markets
Volatility often evokes emotional responses from investors. Two big sell-offs in early 2025 reminded us why it’s important to fight those responses and stay invested through downturns.
US Small-Cap Forecast—More Volatility and Cautious Optimism
Current volatility and optimism are some of the topics being discussed in this new roundtable from Royce Investment Partners.
Parabolic Move for Bitcoin Could Be Coiling Right Now
July didn’t need to reach the halfway point before bitcoin notched double-digit gains.
Invesco Aims to Unlock Hundreds of Millions in Profit From QQQ
It’s a quirk in the booming world of passive investing: Famed tech fund QQQ is the most profitable offering in the $11.7 trillion ETF industry, but Invesco Ltd. earns virtually nothing from running it. Now the asset manager is asking shareholders to change that.
The Battle of the Robotaxis is Beginning
Conventional wisdom has it that the rise of robotaxis is bad for Uber Technologies Inc. and oh so good for Tesla Inc.
Big Tech ‘Acquihiring’ Is an Ugly But Useful Trend
If you’re a venture capitalist, you dream of backing the next billion-dollar startup to one day feast on the returns of a sale.
GE Aerospace Investors Don’t Realize They Have a Cash Machine
GE Aerospace just hit it out of the park on earnings.
We’re in Good Company
When you have a significant underperformance period, investors have a good reason for wondering if you’ve lost your investing mojo.
Value: That Was Then, This is Now
As of June 2025, the relative valuation of the cheapest 50% of the U.S. stock market compared to the expensive half is at the 3rd percentile in our 40+ years of data.
Beyond Nvidia: Are You Overlooking An AI Opportunity?
Last week, Nvidia—whose processors are a key driver of the AI wave—became the world’s first publicly traded company to hit $4 trillion in market value.
Third Quarter Strategic Income Outlook
The second quarter featured a trade war, armed conflicts in the Middle East and Europe, and continued turmoil in Washington, yet markets continued to rally, likely due to an elevated money supply and an increase in passive investing.
Revolution—Not Evolution: The Crypto Dilemma
Contrary to popular belief, investors can use TradFi best practices to analyze on-chain KPIs of DeFi networks and the underlying fundamentals of the tokens that drive them.
Direct Indexing: An Innovative and Customizable Capital Markets Strategy
The capital markets have become an increasingly complex space for investors, complexities that are heightened by the sheer number of ways one can invest.
Bonds vs. Bond Funds: Which Is Right for You?
Not sure which to choose? Here are some things to consider about individual bonds vs. bond funds.
Goldman’s Big Hedge Fund Bet Was Perfectly Timed
Goldman reported record equity trading revenue in second-quarter earnings on Wednesday and trounced its peers with a rebound in investment banking revenue that was fueled by a 70% jump in deal-making fees versus the same period last year.
The Public Stock Market Isn’t Enough Anymore
The sharp division between public and private securities was a major bulwark of financial regulation from the New Deal in the 1930s to the end of the 20th century.
EQT Underlying Profit Surges as Exits Climb to €13 Billion
Swedish private equity group EQT AB reported better-than-expected underlying profit in the first half of 2025 as exit volumes jumped and all of its funds performed at or above plan.
Feinberg Brings Wall Street Drive to Rare-Earth Minerals Push
Just four months into his tenure at the Pentagon, private equity billionaire Steve Feinberg has landed his first big deal: a $400 million bet on the US’s only miner of rare-earth elements, a key commodity in the rivalry with China.
Capital Relief and Lower Bond Yields Support Preferreds in June
June was a month of stabilization and subtle strength for preferreds.
Dead Investors Society
We have a truly inspiring corporate leader among the companies in our portfolio. We don’t believe the global equity markets have realized it yet.
Q2 2025 Commentary and Market Outlook International and Global Growth Equities
Global equity markets swung from steep losses to fresh highs during the quarter. In early April, President Trump imposed a baseline 10% tariff and reciprocal tariffs of up to 50% on dozens of trading partners, only to suspend most reciprocal tariffs for 90 days amid market panic.
Inflation Week on Wall Street Comes as Tariff Risk Re-Emerges
Investors may be happy to shift some of their focus away from the ongoing tariff saga and back toward economic data and earnings reports.
After 53 Years of Dividend Growth – Is This Stock Finally Worth Buying?
In this video, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation, discusses Becton Dickinson (BDX), 53 years of dividend growth, a medical diagnostics company that has increased its dividend for 53 consecutive years.
Bluespring Wealth Partners Merger Creates $865M AUM Firm
The two teams share aligned values and a commitment to providing customized wealth management solutions for their clients.
Talent Is the Tipping Point: Why the Right Team Makes or Breaks RIA Growth
Your technology matters. Your processes matter. But your team determines whether you scale or stagnate. Your people will make or break your growth story; choose wisely.
Bitcoin Chases American Dream in Norm-Shattering Mortgage Push
What was once dismissed as a fringe fantasy by a niche band of crypto believers is now being tentatively examined by the government-sponsored entities at the core of the US housing market.
JPMorgan and Citi Clients Are Getting Comfortable With Chaos
Chief executive officers in the US and beyond are becoming accustomed to the policy swings of President Donald Trump and are deciding they can pursue growth ambitions regardless.
Qube to Enter US After Building $30 Billion Hedge Fund Giant
In roughly seven years, Qube Research & Technologies has grown into a hedge fund powerhouse without setting foot in the US — the industry’s mecca. That’s about to change.
Midyear Liability-Driven Investing Outlook: What’s Next for Corporate Pensions?
For many years, the pension plan has often been a drag on a corporation’s financial positions. Now that’s generally no longer the case, and it’s time to consider what’s next.
Must Value Be Anti-Growth?
The RAFI™ Fundamental Index has a value tilt, but to characterize it as a value index would be an oversimplification that misses the important advantages that the fundamental index offers above standard “value” index approaches.
A Practical Guide to AI ETFs
As artificial intelligence transforms industries, investors face a critical question: How can they strategically approach investments in AI ETFs? Rene Reyna, head of Thematic and Specialty Product Strategy for ETFs at Invesco, offers valuable insights into navigating this complex landscape.
Higher Quality High Yield: Addition by Subtraction
High yield bonds have historically delivered attractive long-term returns, and since the Great Financial Crisis they have also become higher quality, as weaker borrowers have departed the sector for the private credit and leveraged loan markets.
Corporate Guidance Key as Tariffs Threats Resurface
Markets continued their strong run last week before pulling back slightly as a flurry of tariff rhetoric hit the wires. It’s important to understand markets are rallying because they assume these tariff threats are more political posturing than lasting economic policy.
Callable Bond Considerations
Drew O’Neil discusses fixed income market conditions and offers insight for bond investors.
Relative Returns Or Absolute. What’s More Important?
A couple of years ago, I wrote about absolute versus relative returns. Given the latest market run, I am getting a lot of questions about chasing returns, and individuals comparing themselves to the S&P 500 index.
Benefits of Emerging Markets Diversification
Emerging market (EM) countries are often generalized as all the same and driven by commodity prices. The reality can be very different. Here's what you should know about EM stocks now.
One Big Beautiful Bill and MLP/Midstream Implications
With the One Big Beautiful Bill Act (OBBBA) signed into law on July 4, this note briefly discusses some of the implications for energy broadly and the energy infrastructure space.
Vanguard Unveils 3 New Fixed Income ETFs
On Wednesday, Vanguard expanded its fixed income ETF selection with the launch of three new funds.
Economic Crosscurrents in 2025: Inflation, Interest Rates, and Investment Strategy
As 2025 progresses, investors and policymakers are navigating a highly complex economic landscape shaped by three powerful and interrelated forces: evolving trade policy, a cautious U.S. Federal Reserve (Fed), and growing concerns over U.S. fiscal discipline.
Do Political Biases Shape Your Planner’s Financial Advice?
How can you be sure the information and recommendations your advisor offers you are not biased by their political views?
How to Get and Maximize 12 Amex Business Gold Cards
Investors who overlook the potential of card reward programs may be missing out on benefits that can contribute to the abundant lifestyle they are looking to build.
BlackRock Hits Record $12.5 Trillion in Assets Amid Turmoil
BlackRock Inc. pulled in $46 billion to its investment funds, and assets hit a record $12.5 trillion as clients rode out the volatility of President Donald Trump’s tariff policies in the second quarter.
JPMorgan’s Surprise Dealmaking Gain Shows Tariff Fear Easing
JPMorgan Chase & Co.’s investment bankers eked out a surprise gain in the second quarter, signaling what may be the start of a dealmaking rebound after widespread hesitation tied to US tariff policies.
Apple to Buy Rare Earths From Pentagon-Backed US Producer MP
Apple Inc. has struck a $500 million deal to buy rare-earth minerals from MP Materials Corp., the US producer that just last week secured backing from the Pentagon.
Can Wall Street Help Solve the US Housing Crisis?
Housing affordability has become a flashpoint in the US economy. How can the country be truly wealthy when the bulk of a rising generation can’t afford a home?
Nvidia, AMD to Resume AI Chip Sales to China in US Reversal
Nvidia Corp. and Advanced Micro Devices Inc. plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.
Still A Once-in-a-Generation Opportunity
We continue to believe we are seeing a rare opportunity in EM local debt, and our conviction has been strengthened by the Trump administration’s trade and economic policies, which suggest continued dollar weakness and relative strength for EM local currencies.
Q2 2025 Earnings Preview: Modest Growth Expected Amidst Economic Crosswinds
As the second quarter earnings season kicks into gear, Wall Street analysts are forecasting modest earnings growth of 4.8% for companies in the S&P 500.
Precious Metals Crushed Their Commodities Peers in the First Half of 2025
Every year around this time, we update our Periodic Table of Commodities Returns to reflect the performance of raw materials in the first six months. I’m biased, but few tools do a better job of providing a clear, interactive picture of the commodities landscape than ours.
Rethinking Bank Regulation
The right level of regulation requires careful calibration.
Ceasefires, Chairmen & Consumer Confidence: Navigating a Summer of Surprises
Geopolitical flare-ups and a “wait-and-see” Federal Reserve stance have created plenty of noise, but markets continue to defy the headlines with a balanced global allocation and improving sentiment indicators.
Tokenization Won’t Fix the Liquidity Problem, It Will Expose It
Tokenization of real assets might make liquidity problems even more obvious. Making assets digital doesn't mean they'll be easier to sell or trade. It could just highlight how hard they really are to sell, and it won’t change the market demand either.
World Markets Watchlist: July 14, 2025
Eight of the nine indexes on our world watch list have posted gains through July 14, 2025.
The Emotional and Time Value of Advice
In this paper, we study the emotional benefits and time-saving value that paid professional financial advice provides to clients.
The Trial of Barry Ritholtz
When I read Barry Ritholtz’s recent book, I agreed with it almost 100 percent. The main themes of Ritholtz’s book are, first, that nobody can predict anything, let alone the stock market, and that therefore, second, you should invest in a low-cost index fund.
Morgan Stanley Says Tax Cuts and Earnings to Boost US Mega Caps
US mega caps are attractive as they’re likely to be boosted by the fiscal spending bill as well as a robust earnings outlook, according to Morgan Stanley strategists.
Banks Are Bringing Boots $4.25 Billion Buyout Debt to Market
Banks are looking to sell $2.25 billion of term loans and $2 billion equivalent of bonds for Boots, to help finance its acquisition by US private equity firm Sycamore Partners, according to people familiar with the matter.
Bitcoin Soars Past $120,000 as US Congress Starts ‘Crypto Week’
Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.
Apple Faces Calls to Reboot AI Strategy With Shares Slumping
Apple Inc. is facing pressure to shake up its corporate playbook to invigorate its struggling artificial intelligence efforts.
Are You Buying What They Selling? We’re Not—Here’s Why.
Fixed income benchmarks have two fundamental flaws. First, their exposures prioritize the needs of borrowers rather than investors. Second, they tend to expose investors to the biggest risks at the worst times.
Tax Loss Harvesting Through the Volatile First Half of 2025
The second quarter’s rapid recovery from April’s market volatility reminds us how powerful a systematic rules-based approach to tax management can be.
The $10 Billion Club: New Stars in Active Bonds
Last week, the iShares Flexible Income Active ETF (BINC) reached a significant milestone and became the latest member of the $10 billion of the active fixed income club.
AI and Automation – Are You Ready?
Most of us are not prepared for the incredible degree of change Artificial Intelligence (AI), combined with automation, is bringing to society.
Private Credit Lures the Ultra-Rich Sitting on $3.1 Trillion
At a private markets conference focused on the ultra-rich in London this week, the typically discreet sector was notably candid about its growing interest in private credit.
CLOs Attract Domestic, Foreign Banks, Pushing Up Loan Prices
Banks from Wells Fargo & Co. to smaller Japanese lenders are flocking to top-rated collateralized loan obligation deals, pushing up secondary prices for buyout debt.
Crypto Treasury Firms Swarm Wall Street in SPAC, Merger Boom
A multibillion-dollar capital markets experiment is unfolding on Wall Street, as entrepreneurs use blank-check companies and reverse mergers to take their holdings of digital assets public.
Big Banks Are Tired of Losing Recruits to Private Equity
JPMorgan Chase & Co. bosses grew curious last summer as they clocked an unusual number of absences at the training sessions that kicked off their ultra-competitive junior analyst program.
Crypto Renaissance Means It’s Time to Protect Banks
With the price of digital assets testing the boundaries of plausibility, and Congress promising legislation to boost the industry further, now might be a good time for bank regulators to take notice.
Zuckerberg’s $100 Million AI Job Offers Are Paying Off
Nothing says talent war like a $100 million job offer. Mark Zuckerberg has been on a hiring blitz for AI’s most revered scientists, sending them cold emails and offering them roles in his new Superintelligence Labs division whose goal is nothing less than to build artificial-intelligence software that’s smarter than humans.
Are Parents Ready to Keep the Bank of Mom and Dad Open?
Young Americans are having trouble becoming fully independent adults. Millennials, who were long ridiculed for being boomerang kids who scurried back to mom and dad’s basement after leaving the security blanket of college, know a thing or two about that.
June 2025’s Most Innovative ETF Launches
Three ETF strategies that launched in June stand out, bringing something interesting to the table for investors.
Are Small Caps Next in Line to Shine?
The valuation of small-cap stocks relative to large caps remains historically attractive, and small-cap recoveries in the past have resulted in meaningful periods of outperformance.
Active Tax Loss Harvesting in Fixed Income: Checking In at Midyear
As we reach the midpoint of 2025, we reflect on the notably volatile trajectory of bond yields so far this year, considering the potential opportunity for tax-aware fixed income investors to harvest losses.
Stay Cautious as Markets Turn Greedy
We are in a period of market greed right now, even if you haven’t noticed it.
Fundamentals Are a Lighthouse in the Storm
Franklin Mutual Series shares its mid-year outlook, focusing on corporate fundamentals as a catalyst to unlock value in the midst of ongoing market volatility.
At the Midway Point: Returning to the Fundamentals
Liberation Day seems like a lifetime ago. But the 90-day pause is almost over, and—thus far—there are few deals that have been consummated.
How to Choose a Crypto ETF: A Practical Guide for Financial Advisors
In this article, you’ll learn how to evaluate crypto ETFs with the same rigor you apply to traditional investment products.
Beyond Bitcoin ETFs: The Blockchain Trade
A new era of regulation is bound to bring high hopes for the crypto bulls. House Republicans are now gearing up for “Crypto Week” – during which the committee has agreed to prioritize digital asset legislation and review several crypto-related bills.
Morningstar’s Kunal Kapoor on the Public/Private Market Convergence
At the recent 2025 Morningstar Investment Conference, CEO Kunal Kapoor highlighted a growing trend that is reshaping the investment landscape.
Non-U.S. Investing In a Fragmenting World
Our strategy work and quantitative insights suggest the conditions behind more than a decade of U.S. equity outperformance are starting to shift.
Late 2021 Speculation is Back
Our long-time investors are probably wondering why we haven’t made any gains over the last 18 months.
Treasury Bulls Unwind Big Bets as Strong Data Pushes Yields Up
Futures traders have been unwinding some large bullish bets on Treasury bonds, adding to the recent upward pressure on US yields after a surprisingly strong jobs report last week.
Defense, Yield, or Both? An Active Bond ETF for Any Market
Elevated interest rates and market uncertainty make for an interesting tandem regarding getting core bond exposure. When considering yield, reinforcing a portfolio to absorb market shocks, or both, consider this active option from Vanguard: the Vanguard Core-Plus Bond ETF (VPLS).
Outperformance in Extraordinary Times
How the Matthews Emerging Markets Equity Fund’s strategy helped it achieve outperformance during a historic period for global markets.
Jobs Report Better Than Feared
The headline employment figure came in stronger than expected and better than feared following the weak ADP report, but the details were far from a blockbuster.
What If This Time Really Is Different for Investors?
They have been called “the four most costly words in the annals of investing,” and surely that’s true: This time is different. Still — hear me out! — there are reasons to entertain the possibility that, well, this time really is different.
The Great RIA Consolidation: Private Equity Reshapes Wealth Management
Private equity has officially conquered the registered investment advisor (RIA) landscape. It is now responsible for a significant portion of RIA-linked M&A activity.
A Solid Quarter Signals Promising Potential
It was a positive quarter for emerging markets equities.