Health Savings Accounts offer Americans a tax-free way to save for medical expenses. Now, some are using them to trade stocks — and dabble in risky bets they wouldn't touch in their 401(k) or brokerage accounts.

The shift to artificial intelligence models that can carry out tasks, not just generate content, hasn’t yet taken off in the way the tech industry desperately needs it to.

Each day seems to bring fresh havoc in the digital world. In recent weeks, researchers have uncovered security flaws in some of the most consequential corners of the internet, bugs that could put users at risk, jeopardize essential services and impose significant economic costs. Squint a little, though, and it looks like progress.

Sometimes, change comes at you so fast that you forget to congratulate yourself on what you’ve achieved.

You do get rewarded for pushing duration out, with a steep increase from 30 days to one year, and a more moderate — but still substantial — increment in return for going out to five years.

Many investors are reliving that experience with AI. Buffett, who stepped down as chairman of Berkshire Hathaway Inc. earlier this year, and Munger, who died in 2023, won’t be active examples, obviously. But there are useful lessons in the way they weathered the previous tech revolution — and in how their decisions turned out all these years later.

In this article, I explain what credit spreads are and why they matter to stock investors. I also examine what they are signaling today by reviewing key spreads across the credit curve, historical percentiles, and relative value metrics.

Hedge funds dumped technology stocks at one of the fastest paces on record last week, and the momentum crash that followed was the biggest in about 40 years. Even so, few on Wall Street are ready to call time on the AI boom.

A client considering a passive ESG fund may associate “passive” with the low-cost, diversified market exposure familiar from broad-market index funds. But understanding how the fund tracks its index is different from understanding the sustainability judgments that index expresses.

Morgan Stanley struck a deal to buy a fintech to bring a key technical aspect of handling corporate stock plans in house, further beefing up the bank’s massive wealth-management arm.

The big message from the midterms is that Americans are struggling with the cost of living. In case anyone missed it, they need relief now. This will put even more attention on the Federal Reserve: Will Chair Kevin Warsh do all he can to bring down inflation or placate the White House, which wants lower interest rates?

In a recent letter to investors, Paul Singer’s Elliott Investment Management predicted a substantial bear market ahead. There might be an abrupt change from fear of missing out, or FOMO, to fear of getting obliterated, or FOGO, the $80 billion manager wrote.

What will protect portfolios when U.S. stocks tank, especially when inflation is also a concern? I think real assets like commodities and real estate (especially farmland) will hold up, as will Treasury Inflation-Protected Securities (TIPS).

The Federal Reserve held short-term interest rates steady last week. If it does so again at its next meeting in December, it’ll need a better explanation.

Treasuries dipped after an unexpected surge in US job growth led traders to add to wagers that the Federal Reserve will raise interest rates when officials next meet in December.

Fears of the worst-case scenario for the AI trade kicked in after the US midterm elections on Tuesday, in which Democrats secured majorities in the Senate and House of Representatives and won control of state houses and governor’s mansions across the country. Many of the winning candidates ran on anti-AI platforms, raising the possibility that the development of data centers could grind to a halt in many places.

The most-read stories in October for Advisor Perspectives were mainly focused on two key topics: retirement and TIPS. The most-read stories in October for Advisor Perspectives were mainly focused on two key topics: retirement and TIPS.

The unprecedented investment boom to build out the infrastructure for artificial intelligence is projected to reach more than $10 trillion, if all current plans are realized. The money is coming from many sources, including corporate cash flows, public equity and debt issuance, private debt issuance, off-balance sheet lease obligations and guarantees to AI data center developers from so-called hyperscalers and the leading chip provider, Nividia Corp.

For years, companies trying to mine or process the rare elements vital to the performance of electric vehicles, drones, medical devices, LEDs, jet engines and computer chips had to fight for every cent.

US state and local government debt is on track to notch its strongest October in more than four decades, as a relief rally follows one of the worst months for the bond market in years.

At least five portfolio managers focused on credit trading at Brevan Howard Asset Management have left the hedge fund firm, the latest sign of fallout from market turmoil.

US labor productivity accelerated in the third quarter at the fastest pace in a year, suggesting a capital spending boom is translating into greater efficiency at a time when input costs have soared.

Agility Robotics Inc. is set to become the first dedicated humanoid company to go public in the US, marking a major milestone for the emerging category that still has a lot to prove.

US equities plunged Thursday as a rotation out of chipmakers deepened and investors looked past the initial relief rally following the US midterm elections.

The world’s advanced economies could be facing a slow-moving train wreck that they appear powerless to stop. We are no longer producing enough babies.

The push by regulators to launch digital versions of US stocks is a rush job that risks introducing crypto-like dangers into the equity market with few benefits. Hopefully, a rebalanced Congress with senators who are less in thrall to the industry can block this move, or at least press for stronger guardrails.

As AI tools remove friction from administrative tasks, more clients flow into the pipeline, stretching advisor capacity without fortifying the infrastructure required to support it. Every efficiency created for an advisor can generate additional work elsewhere, with much of it landing on client service and operations teams.

Although AI reasoning tools drastically speed up workflow—allowing single individuals to build complex financial platforms—they tend to produce generic consensus, overlook subtle guidance, and push inexperienced users toward crowded, high-risk strategies.

Focus on raising the brand of your firm. We call it “standing out in a crowded market”. Take a look at what you are saying and find ways to differentiate yourself so people become curious and want to learn more about what you can do for them. Websites don’t sell anything but they do tell a story. Make sure your story is a solid one.

Choosing the advisor who will represent you in the market is not an administrative step; it shapes every stage of the transaction that follows. For many founders, it is the first major decision in the sale process and can influence the ultimate outcome as much as any term negotiated at the closing table.