Without a robust regulatory framework that incentivizes stablecoin issuers to register in the United States, stablecoin activity will migrate to countries with weaker rules, increasing the likelihood of financial instability. Fortunately, the US can still head off these risks and reap the technology’s benefits.
The Securities and Exchange Commission and the Commodity Futures Trading Commission are expecting new leadership put in place by the Trump administration to usher in different enforcement priorities and a shift in how firms and individuals pay fines.
Recently I have realized that cryptocurrency might be something even bigger and stranger than currency. It is not just digital money; it’s a bet on the huge global demand for financial autonomy.
Despite NVIDIA’s stock flashing a bearish “death cross”—its 50-day moving average slipped below the 200-day moving average for the first time since January 2023—the energy at the conference was electrifying. Every major industry was represented, from health care to defense, signaling that artificial intelligence (AI) is expanding at a white-knuckle clip.
Congress managed to avoid a government shutdown, but Democrats are divided on strategy.
Cathie Wood’s Ark Investment Management LLC is cutting its stake in Meta Platforms Inc. for the first time in around a year, the latest sign of a downturn in fortunes for big US tech stocks.
The Defined Outcome investment landscape is rapidly evolving, offering new opportunities for managing risk and return with greater precision.
Policies to support mainstream crypto adoption are underway.
The economy stands upon the edge of a knife as gold hits new highs. Plus, we review our predictions for gold and silver last year and provide our price predictions for 2025.
Digital tokenization of assets, made possible by the crypto-blockchain construct, can boost efficiency in the capital markets, thus greasing the wheels that drive the economy.
Richard Perry ran a hedge fund for almost three decades before closing it in 2016. Now he has decided it’s time for a comeback.
The tendency of stocks to produce all their gains at night, when markets are closed, and systematically lose money during the daylight hours, has baffled researchers for four decades and potentially put retail investors at a disadvantage.
Recent economic data has been all over the map. Consumer confidence sank this month to the lowest level since November 2022, yet the labor market remains strong, with historically low unemployment and rising wages.
It was only three years ago that a dispute between an infamous crypto billionaire and a titan of the financial establishment became the center of attention at an annual event known as the Davos of the derivatives market.
Bitcoin and other cryptocurrencies didn’t do much of anything following last week’s crypto summit at the White House.
Precidian’s Stuart Thomas spotlights the firm’s innovative ADRhedged ETFs and explains the rationale for removing currency exposure. VettaFi’s Kirsten Chang discusses several recent ETF launches, including offerings from State Street, VistaShares, Quantify Funds, and Roundhill.
Modern direct indexing tools, using sophisticated technology, can identify tax loss opportunities on a daily or even minute-by-minute basis. As time progresses, I believe more advisors will see the potential of direct indexing.
The U.S. has poured more than $120 billion into Ukraine since its war with Russia began three years ago, but with a new administration in Washington, that support is grinding to a halt.
During February, Advisor Perspectives featured a number of quality articles on topics near and dear to the advisory community.
President Trump’s nomination of Paul Atkins as the next SEC Chair signals a potential sea change in regulatory approach, one that could dramatically reshape the landscape of alternative investments.
Just recently, S&P Global released its 2026 earnings estimates, which, for lack of a better word, have gone parabolic. Such should not be surprising given the ongoing exuberance on Wall Street. Unsurprisingly, rationalizations justify illogic when too much money is chasing too few assets.
On this episode of the “ETF of the Week” podcast, VettaFi’s head of research, Todd Rosenbluth, discussed the CoinShares Valkyrie Bitcoin Miners ETF (WGMI) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
More than a century ago, then-Representative William McKinley pursued an aggressive tariff strategy that sought to protect American industry and reduce reliance on foreign imports. The McKinley Tariff Act of 1890 raised import duties to an average of 50%, one of the highest levels in U.S. history.
A week-long rout in Bitcoin deepened amid the recent broader retreat from risky assets in the wake of US President Donald Trump’s tariff threats and crypto sector turmoil, marking a dramatic reality check for one of the most popular Trump trades.
Trade war fears and disappointing data have sparked a flood of defensive buying activity in consumer staples, utilities, and healthcare stocks.
Artificial intelligence is pushing humanity toward a more efficient future, but like any world-changing technology will eventually crash and hurt investors, according to longtime Wall Street doomsayer Jeremy Grantham.
The world’s biggest asset manager is finally allowing Bitcoin into its $150 billion model-portfolio universe.
Senator Cynthia Lummis (R-WY) takes a pivotal role in shaping how America approaches cryptocurrency and blockchain technology.
Retail investors are expected to become more bullish about increasing equity exposure when markets rise.
Despite what many of my critics think, I am agnostic about cryptocurrency. However, I am willing to shed light on details that most crypto supporters refuse to discuss or even acknowledge.
Berkshire Hathaway Inc. released its latest shareholder letter Saturday, and the content is — by and large — the usual timeless Warren Buffett fare.
This week has been both intense and inspiring as I attended the YPO Edge event in Barcelona, Spain. I had the privilege of experiencing numerous thought-provoking presentations, from the transformative impact of AI and disruptive technologies on businesses, to the vital role of health and wellbeing in fostering a learning-driven workforce.
Coinbase Global Inc. said the Securities and Exchange Commission has agreed to drop its lawsuit that accused the largest US cryptocurrency trading platform of running an illegal exchange.
Trump Media & Technology Group Corp. is creating a new fund to invest in “America First” companies, a move that could further co-mingle the business and policy interests of President Donald Trump.
Robinhood Markets Inc. shares are heading for their worst week since August as they pull back from the crypto-fueled surge that followed the election of President Donald Trump.
Evan Harp sat down with Core Planning's Suzanne Highet to discuss how investors can end up with exposures that don't make sense for them.
For a few months now, I’ve been referring to today’s heightened geopolitical climate as the “new red Cold War,” where artificial intelligence (AI)—not necessarily fighter jets and nuclear weapons—serves as the primary battleground between the U.S. and its adversaries, most notably Russia and China.
As we enter Valentine’s Day weekend, financial infidelity isn’t exactly a topic that exudes romance. But lovebirds who don’t make the discussion a foundational piece of their relationship risk adding avoidable strain on their union.
Markets always look their very best at the top - that's increasingly the case with gold as it nears $3,000 a troy ounce. It's behaving like a Veblen good, an item for which, contrary to the laws of economics, demand increases with price.
Whether its crypto last quarter or the Mag Seven-led S&P of the past two years, FOMO is natural when we see big gains. Hey, we’re all human.
In this note, we'd like to share our analysis of one potential solution we've been hearing about a lot lately. It involves leveraged direct index tax-loss harvesting.
Markets, as many of you are aware, don’t like uncertainty. And right now, there’s a lot of uncertainty surrounding U.S. trade policy.
We hope you enjoy the latest newsletter from Harold Evensky.
Why would a bank suddenly shut down a customer’s adequately funded account? Some leading Republicans, echoing tech titans like Marc Andreessen, have warned of a conspiracy among regulators to “debank” conservatives and crypto enthusiasts.
The ETF industry reached a significant milestone on Wednesday, as there are now over 4,000 ETFs trading at the same time.
With age comes some insights and as we head into 2025, now is as good a time as any to look back on some of the lessons from my investing career that have served me well.
The DeepSeek blip notwithstanding (our initial take on the news is here), January 2025 was a good month for financial markets. The S&P 500 was up a robust 2.7%, though Nasdaq lagged (largely due to DeepSeek, in our opinion) with “only” a 1.7% monthly return.
On Monday, markets were rocked by news that a Chinese Artificial Intelligence model, DeepSeek, performed better than expected at a lower development cost.
On this episode of “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth joined Chuck Jaffe of Money Life to talk about the Calamos Bitcoin Structured Alt Protection ETF – January (CBOJ).
Meme coins are just the tip of the iceberg representing unproductive uses of capital. I could write volumes on other examples. But given its current popularity, I use it to help spread the productivity gospel once again.
A surprise is a completely unexpected outcome. By definition, a surprise is improbable, and its occurrence is rare. It seems strange then to try to predict three of them every year.
The artificial intelligence (AI) revolution is moving at lightning speed, and one of the biggest stories this past week underscores just how critical the technology has become—not just for Silicon Valley, but for America’s national security and global competitiveness.
The stock market posted some noteworthy streaks of its own in the fourth quarter.
Deregulation is among President Donald Trump’s most enduring policy themes. In his 2016 campaign, he called for widespread deregulation and made it a central plank in both his economic and energy platforms.
In today’s post, we will examine the money supply represented by M2, the Federal budget deficit, the Fed’s previous adventures with QE, and the correlation to inflation.
“Debanking” is about to get a lot of airtime in US politics, but be warned: This debate is a chimera. Crypto enthusiasts, culture warriors and banks all have dogs in the hunt, with each leaning on the others’ interests and narratives to advance their own.
Calamos’ Matt Kaufman explains the mechanics and rationale behind the Calamos Bitcoin Structured Alt Protection ETF – January (CBOJ). VettaFi’s Roxanna Islam examines the best-performing ETFs so far this year and discusses a recent surge of legacy asset managers entering the ETF space.
The Q4 earnings season continued on a positive note after big banks and other financials struck a bullish tone in the first two weeks of reporting.
Not all companies in emerging markets will be hurt by President Trump’s agenda. Here’s what equity investors should look for.
Donald Trump’s second term as president came with a flurry of executive orders and his policies are rippling across the global markets.
Bitcoin and other cryptocurrencies tumbled, following technology stocks lower, as the emergence of a new Chinese artificial-intelligence model triggered a global selloff in riskier assets.
Today, if you only invest in the US, you’re experiencing two hells. Your stocks are underperforming, and even inexpensive stocks are expensive. Yes, welcome to double hell. European stocks, however, offer paradise today.
The Second Trump Era has begun. If you are confident about what it will bring (either good or bad), I would like to gently suggest you reconsider. None of us should be sure what is coming.
Markets have responded with gusto since November’s presidential election, especially in a few key—and perhaps expected—industries. The biggest winner so far is the automobile industry...
Four years after handling the first conversion of a hedge fund to an ETF, Wes Gray is gearing up to lead a surge of tax-busting deals aimed at investors big and small.
In mid-2023, the estimated costs to roll S&P 500 futures on a quarterly cycle was roughly 0.40%, or 40 basis points (bps) annualized—a fairly justifiable expense for most investors considering the benefits of the instrument.
The world’s biggest stock market is heading for its best start for a new US president since Ronald Reagan was sworn in to power in 1985.
A seemingly unstoppable flood of money has Vanguard Group Inc. on the brink of claiming a crown that State Street Corp. has held for decades.
Meta Platforms Inc. plans to invest as much as $65 billion on projects related to artificial intelligence in 2025, including building a giant new data center and increasing hiring in AI teams, Chief Executive Officer Mark Zuckerberg said Friday.
Changpeng “CZ” Zhao, a few months out of prison and worth $70 billion thanks to the relentless crypto rally, is turning the former venture capital arm of his Binance Holdings Ltd. into a family office.
Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.
For the third time in four years, the stock picker beating everyone is Fidelity Investments Inc.’s decoder of computer chips, crushing every measure of performance as the more popular passively managed index funds tracking market benchmarks proved little more than also-rans in 2024.
As growth extends to more regions, we see expanding opportunities across countries and assets.
As we head into 2025, investors are giddy over the market returns of the last two years. As shown, the annual returns, while elevated, have come with only average volatility along the way.
While every new year arrives with its own unique set of opportunities and challenges for institutional investors, we believe 2025 could offer more than the typical share.
A tech-powered approach to bond trading that helps firms move hundreds of securities in one go has just posted its best year yet.
Oracle Corp. has charged out of the gate in 2025, after its best year in a quarter-century.
Investors, many of whom were worried about stock valuations before the election, have much to consider heading into 2025. There seems reason for some exuberance—but a rational exuberance, based upon a plausible foundation of corporate and economic health.
As we welcome a new year and its many possibilities, it’s important to reflect on where the markets and investor psychology sit on the pendulum of greed and despair.
All of the attention when it comes to future Fed monetary policy decisions has been laser-focused on rate cuts. We would have to concur, and rightfully so. However, that doesn’t mean investors should take their eyes off the ball and not consider the Fed’s balance sheet.
Today’s video on the Utility Sector is another in the continuing series of videos where we are looking for value in each of the 11 major sectors as reported by Standard & Poor’s. This particular video is going to be on Utility Stocks.
Netflix Inc. shares soared to a record high on Wednesday after the streaming giant reported its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.
The ETF industry’s upstart-in-chief is back with another roll of the new-product dice — this time betting on a game-changing expansion of Wall Street’s zero-day options boom.
JPMorgan Chase & Co.’s dealmakers are spending their time in the Swiss Alps huddling with ebullient clients, but the boss of the biggest US bank is striking a more cautious tone.
Bridgewater Associates founder Ray Dalio has a new book to promote. So while I am loath to fuel the sales campaign, his latest bomb in an interview with the Financial Times — warning of a “death spiral” for Britain’s sovereign debt — requires a riposte.
SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.
As the industry matures, innovative operating models have emerged to address the diverse needs of both acquiring and selling firms. This analysis examines the primary models driving consolidation in the RIA space and explores their strategic implications for industry participants.
When you think about money behaviors that don’t serve you well, I suggest tuning in to your financial boardroom. Start with a little curiosity. What emotions surface? Which voices are the loudest?
Big US banks marked the beginning of the Q4 earnings season when they released results last week, and overall they were positive. Because of their position opening up the earnings season they tend to set the tone for things to come.
Markets vigorously adjusted expectations for a new regulatory, economic, and geopolitical landscape driven by U.S. politics.
Cryptocurrencies
The US Needs Stablecoin Legislation Now
Without a robust regulatory framework that incentivizes stablecoin issuers to register in the United States, stablecoin activity will migrate to countries with weaker rules, increasing the likelihood of financial instability. Fortunately, the US can still head off these risks and reap the technology’s benefits.
SEC, CFTC Leaders Predict Shifting Priorities, Penalty Policies
The Securities and Exchange Commission and the Commodity Futures Trading Commission are expecting new leadership put in place by the Trump administration to usher in different enforcement priorities and a shift in how firms and individuals pay fines.
Cryptocurrency Isn’t Money—It’s Something Much Bigger
Recently I have realized that cryptocurrency might be something even bigger and stranger than currency. It is not just digital money; it’s a bet on the huge global demand for financial autonomy.
AI Agents Are the Next Big Thing, Says NVIDIA’s Jensen Huang
Despite NVIDIA’s stock flashing a bearish “death cross”—its 50-day moving average slipped below the 200-day moving average for the first time since January 2023—the energy at the conference was electrifying. Every major industry was represented, from health care to defense, signaling that artificial intelligence (AI) is expanding at a white-knuckle clip.
Washington: What to Watch Now
Congress managed to avoid a government shutdown, but Democrats are divided on strategy.
Cathie Wood Sells Meta Shares for First Time in Nearly a Year
Cathie Wood’s Ark Investment Management LLC is cutting its stake in Meta Platforms Inc. for the first time in around a year, the latest sign of a downturn in fortunes for big US tech stocks.
A Deep Dive into Buffered ETFs
The Defined Outcome investment landscape is rapidly evolving, offering new opportunities for managing risk and return with greater precision.
Spreading Stablecoins
Policies to support mainstream crypto adoption are underway.
Gold Outlook 2025 Brief
The economy stands upon the edge of a knife as gold hits new highs. Plus, we review our predictions for gold and silver last year and provide our price predictions for 2025.
Tokenization: The New Frontier for Capital Markets
Digital tokenization of assets, made possible by the crypto-blockchain construct, can boost efficiency in the capital markets, thus greasing the wheels that drive the economy.
Richard Perry Returns to Hedge Funds After a Nine-Year Hiatus
Richard Perry ran a hedge fund for almost three decades before closing it in 2016. Now he has decided it’s time for a comeback.
We Still Need to Find Out Why Stocks Gains Come at Night
The tendency of stocks to produce all their gains at night, when markets are closed, and systematically lose money during the daylight hours, has baffled researchers for four decades and potentially put retail investors at a disadvantage.
Gold Smashes Through $3,000 as Recession Fears Mount
Recent economic data has been all over the map. Consumer confidence sank this month to the lowest level since November 2022, yet the labor market remains strong, with historically low unemployment and rising wages.
Wall Street Goes All In on Great Crypto Comeback Fueled by Trump
It was only three years ago that a dispute between an infamous crypto billionaire and a titan of the financial establishment became the center of attention at an annual event known as the Davos of the derivatives market.
Bitcoin Slump Myopic, Could Bring Opportunity, Says Expert
Bitcoin and other cryptocurrencies didn’t do much of anything following last week’s crypto summit at the White House.
Precidian’s Stuart Thomas Spotlights Currency Hedged Single Stock ETFs
Precidian’s Stuart Thomas spotlights the firm’s innovative ADRhedged ETFs and explains the rationale for removing currency exposure. VettaFi’s Kirsten Chang discusses several recent ETF launches, including offerings from State Street, VistaShares, Quantify Funds, and Roundhill.
Still Working the Night Shift
Modern direct indexing tools, using sophisticated technology, can identify tax loss opportunities on a daily or even minute-by-minute basis. As time progresses, I believe more advisors will see the potential of direct indexing.
European Defense Stocks Go Parabolic as War Spending Surges
The U.S. has poured more than $120 billion into Ukraine since its war with Russia began three years ago, but with a new administration in Washington, that support is grinding to a halt.
February Featured Articles on Bitcoin, Tax-Loss Harvesting & More
During February, Advisor Perspectives featured a number of quality articles on topics near and dear to the advisory community.
Atkins' SEC and the New Dawn for Alternative Investments
President Trump’s nomination of Paul Atkins as the next SEC Chair signals a potential sea change in regulatory approach, one that could dramatically reshape the landscape of alternative investments.
Estimates By Analysts Have Gone Parabolic
Just recently, S&P Global released its 2026 earnings estimates, which, for lack of a better word, have gone parabolic. Such should not be surprising given the ongoing exuberance on Wall Street. Unsurprisingly, rationalizations justify illogic when too much money is chasing too few assets.
ETF of the Week: CoinShares Valkyrie Bitcoin Miners ETF (WGMI)
On this episode of the “ETF of the Week” podcast, VettaFi’s head of research, Todd Rosenbluth, discussed the CoinShares Valkyrie Bitcoin Miners ETF (WGMI) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
President McKinley’s Tariff Mishap Could Be a Warning Sign for Trump’s Trade War
More than a century ago, then-Representative William McKinley pursued an aggressive tariff strategy that sought to protect American industry and reduce reliance on foreign imports. The McKinley Tariff Act of 1890 raised import duties to an average of 50%, one of the highest levels in U.S. history.
Bitcoin Down 25% From All-Time High as Crypto Rout Worsens
A week-long rout in Bitcoin deepened amid the recent broader retreat from risky assets in the wake of US President Donald Trump’s tariff threats and crypto sector turmoil, marking a dramatic reality check for one of the most popular Trump trades.
Gold: The Most Unloved But Best-Performing Asset Class?
Trade war fears and disappointing data have sparked a flood of defensive buying activity in consumer staples, utilities, and healthcare stocks.
Ever-Bearish Grantham Insists AI Is a Bubble Waiting to Pop
Artificial intelligence is pushing humanity toward a more efficient future, but like any world-changing technology will eventually crash and hurt investors, according to longtime Wall Street doomsayer Jeremy Grantham.
BlackRock Adds Its Bitcoin ETF to Model Portfolio for First Time
The world’s biggest asset manager is finally allowing Bitcoin into its $150 billion model-portfolio universe.
Leading the Financial Revolution: Senator Lummis, Bitcoin and the Future of U.S. Digital Policy
Senator Cynthia Lummis (R-WY) takes a pivotal role in shaping how America approaches cryptocurrency and blockchain technology.
Retail Exuberance Sets Market Up For A Correction
Retail investors are expected to become more bullish about increasing equity exposure when markets rise.
Why Bitcoin Will Not Replace the Dollar
Despite what many of my critics think, I am agnostic about cryptocurrency. However, I am willing to shed light on details that most crypto supporters refuse to discuss or even acknowledge.
Buffett Offers a Recipe for What Makes America Great
Berkshire Hathaway Inc. released its latest shareholder letter Saturday, and the content is — by and large — the usual timeless Warren Buffett fare.
Elon Musk Goes to Fort Knox
This week has been both intense and inspiring as I attended the YPO Edge event in Barcelona, Spain. I had the privilege of experiencing numerous thought-provoking presentations, from the transformative impact of AI and disruptive technologies on businesses, to the vital role of health and wellbeing in fostering a learning-driven workforce.
Coinbase Says SEC Is Close to Dismissing Enforcement Case
Coinbase Global Inc. said the Securities and Exchange Commission has agreed to drop its lawsuit that accused the largest US cryptocurrency trading platform of running an illegal exchange.
Trump Media’s Finance Pivot Now Includes an Investment Fund
Trump Media & Technology Group Corp. is creating a new fund to invest in “America First” companies, a move that could further co-mingle the business and policy interests of President Donald Trump.
Robinhood’s Crypto-Powered Rally Takes a Breather as Analysts Say Gains Priced In
Robinhood Markets Inc. shares are heading for their worst week since August as they pull back from the crypto-fueled surge that followed the election of President Donald Trump.
Meet an Advisor: Suzanne Highet
Evan Harp sat down with Core Planning's Suzanne Highet to discuss how investors can end up with exposures that don't make sense for them.
How AI Is Reshaping Aerospace & Defense Investment Opportunities
For a few months now, I’ve been referring to today’s heightened geopolitical climate as the “new red Cold War,” where artificial intelligence (AI)—not necessarily fighter jets and nuclear weapons—serves as the primary battleground between the U.S. and its adversaries, most notably Russia and China.
Don’t Let Your Love Story End With Financial Infidelity
As we enter Valentine’s Day weekend, financial infidelity isn’t exactly a topic that exudes romance. But lovebirds who don’t make the discussion a foundational piece of their relationship risk adding avoidable strain on their union.
Goldbug FOMO Is Setting Up the Market for a Fall
Markets always look their very best at the top - that's increasingly the case with gold as it nears $3,000 a troy ounce. It's behaving like a Veblen good, an item for which, contrary to the laws of economics, demand increases with price.
The Mirage of More: Why Chasing Big Returns and Bold Bets Undermine Long-Term Success
Whether its crypto last quarter or the Mag Seven-led S&P of the past two years, FOMO is natural when we see big gains. Hey, we’re all human.
Out of the Frying Pan and Into the Fire: Selling a Highly Appreciated Stock Without Paying Taxes?
In this note, we'd like to share our analysis of one potential solution we've been hearing about a lot lately. It involves leveraged direct index tax-loss harvesting.
Could Trump’s Tariff Revenues Fund a New U.S. Sovereign Wealth Fund?
Markets, as many of you are aware, don’t like uncertainty. And right now, there’s a lot of uncertainty surrounding U.S. trade policy.
Newsletter January 2025
We hope you enjoy the latest newsletter from Harold Evensky.
‘Debanking’ Dispute Highlights a Real Problem
Why would a bank suddenly shut down a customer’s adequately funded account? Some leading Republicans, echoing tech titans like Marc Andreessen, have warned of a conspiracy among regulators to “debank” conservatives and crypto enthusiasts.
U.S. ETF Count Reaches 4,000 With Launches From Cohen & Steers, Thornburg & More
The ETF industry reached a significant milestone on Wednesday, as there are now over 4,000 ETFs trading at the same time.
Lessons From My Investing Career
With age comes some insights and as we head into 2025, now is as good a time as any to look back on some of the lessons from my investing career that have served me well.
QuantStreet February 2025 Letter: More of the Same
The DeepSeek blip notwithstanding (our initial take on the news is here), January 2025 was a good month for financial markets. The S&P 500 was up a robust 2.7%, though Nasdaq lagged (largely due to DeepSeek, in our opinion) with “only” a 1.7% monthly return.
DeepSeek DeepSinks Bullish Exuberance
On Monday, markets were rocked by news that a Chinese Artificial Intelligence model, DeepSeek, performed better than expected at a lower development cost.
Calamos Bitcoin Structured Alt Protection ETF – January (CBOJ)
On this episode of “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth joined Chuck Jaffe of Money Life to talk about the Calamos Bitcoin Structured Alt Protection ETF – January (CBOJ).
Meme Coins Do Not Create Wealth, They Destroy It
Meme coins are just the tip of the iceberg representing unproductive uses of capital. I could write volumes on other examples. But given its current popularity, I use it to help spread the productivity gospel once again.
Three Surprises for 2025: Overcoming One-way Investor Sentiment
A surprise is a completely unexpected outcome. By definition, a surprise is improbable, and its occurrence is rare. It seems strange then to try to predict three of them every year.
China’s AI Breakthrough Sends NVIDIA Reeling and Sparks National Security Fears
The artificial intelligence (AI) revolution is moving at lightning speed, and one of the biggest stories this past week underscores just how critical the technology has become—not just for Silicon Valley, but for America’s national security and global competitiveness.
We're Going Streaking
The stock market posted some noteworthy streaks of its own in the fourth quarter.
Trump 2.0: The Deregulation Agenda – No New Rules?
Deregulation is among President Donald Trump’s most enduring policy themes. In his 2016 campaign, he called for widespread deregulation and made it a central plank in both his economic and energy platforms.
Do Money Supply, Deficit And QE Create Inflation?
In today’s post, we will examine the money supply represented by M2, the Federal budget deficit, the Fed’s previous adventures with QE, and the correlation to inflation.
Crypto Enters the Debanking Debate With a Weak Case
“Debanking” is about to get a lot of airtime in US politics, but be warned: This debate is a chimera. Crypto enthusiasts, culture warriors and banks all have dogs in the hunt, with each leaning on the others’ interests and narratives to advance their own.
Calamos’ Matt Kaufman Explains World’s First 100% Downside Protected Bitcoin ETF
Calamos’ Matt Kaufman explains the mechanics and rationale behind the Calamos Bitcoin Structured Alt Protection ETF – January (CBOJ). VettaFi’s Roxanna Islam examines the best-performing ETFs so far this year and discusses a recent surge of legacy asset managers entering the ETF space.
Can the Magnificent 7 Maintain an Upbeat Earnings Season
The Q4 earnings season continued on a positive note after big banks and other financials struck a bullish tone in the first two weeks of reporting.
How to Invest in Emerging Market Equities as New US Policies Bite
Not all companies in emerging markets will be hurt by President Trump’s agenda. Here’s what equity investors should look for.
Markets Resilient Amid Historic Week and Fed Meeting in Focus
Donald Trump’s second term as president came with a flurry of executive orders and his policies are rippling across the global markets.
Bitcoin Follows Tech Stocks Lower as New AI App Rattles Markets
Bitcoin and other cryptocurrencies tumbled, following technology stocks lower, as the emergence of a new Chinese artificial-intelligence model triggered a global selloff in riskier assets.
Escaping Stock Market Double Hell
Today, if you only invest in the US, you’re experiencing two hells. Your stocks are underperforming, and even inexpensive stocks are expensive. Yes, welcome to double hell. European stocks, however, offer paradise today.
Crucial Questions
The Second Trump Era has begun. If you are confident about what it will bring (either good or bad), I would like to gently suggest you reconsider. None of us should be sure what is coming.
Arctic Resource Boom Pits U.S. Against Russia and China in the New “Red Cold War”
Markets have responded with gusto since November’s presidential election, especially in a few key—and perhaps expected—industries. The biggest winner so far is the automobile industry...
Tax-Slashing ETF Trailblazer Preps for a Fresh $5 Billion Haul
Four years after handling the first conversion of a hedge fund to an ETF, Wes Gray is gearing up to lead a surge of tax-busting deals aimed at investors big and small.
Futures, ETFs, or Physicals: How to Choose the Right Implementation Instrument
In mid-2023, the estimated costs to roll S&P 500 futures on a quarterly cycle was roughly 0.40%, or 40 basis points (bps) annualized—a fairly justifiable expense for most investors considering the benefits of the instrument.
S&P 500 Sees Best Start for a President Since 1985
The world’s biggest stock market is heading for its best start for a new US president since Ronald Reagan was sworn in to power in 1985.
Vanguard’s S&P 500 Fund Is About to Become World’s Largest ETF
A seemingly unstoppable flood of money has Vanguard Group Inc. on the brink of claiming a crown that State Street Corp. has held for decades.
Meta to Spend as Much as $65 Billion on AI Efforts in 2025
Meta Platforms Inc. plans to invest as much as $65 billion on projects related to artificial intelligence in 2025, including building a giant new data center and increasing hiring in AI teams, Chief Executive Officer Mark Zuckerberg said Friday.
Crypto’s Richest Man Turns VC Firm Into Giant Family Office
Changpeng “CZ” Zhao, a few months out of prison and worth $70 billion thanks to the relentless crypto rally, is turning the former venture capital arm of his Binance Holdings Ltd. into a family office.
US Existing-Home Sales Pick Up at End of Worst Year Since 1995
Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.
America’s Best Stock Picker Keeps Beating Passive Funds
For the third time in four years, the stock picker beating everyone is Fidelity Investments Inc.’s decoder of computer chips, crushing every measure of performance as the more popular passively managed index funds tracking market benchmarks proved little more than also-rans in 2024.
Multi-Asset 2025 Outlook: Expanding Horizons
As growth extends to more regions, we see expanding opportunities across countries and assets.
Gardening Guide To Better Portfolio Returns In 2025
As we head into 2025, investors are giddy over the market returns of the last two years. As shown, the annual returns, while elevated, have come with only average volatility along the way.
Top 5 Issues Institutional Investors Should Be Thinking About in 2025
While every new year arrives with its own unique set of opportunities and challenges for institutional investors, we believe 2025 could offer more than the typical share.
Wall Street’s Tech-Powered Bond Trades Hit Record $1 Trillion
A tech-powered approach to bond trading that helps firms move hundreds of securities in one go has just posted its best year yet.
Oracle Takes Run at Cloud’s Big Three With Trump-Backed AI Pact
Oracle Corp. has charged out of the gate in 2025, after its best year in a quarter-century.
2025 Market Outlook: Rational Exuberance?
Investors, many of whom were worried about stock valuations before the election, have much to consider heading into 2025. There seems reason for some exuberance—but a rational exuberance, based upon a plausible foundation of corporate and economic health.
Bursting the Complacency Bubble
As we welcome a new year and its many possibilities, it’s important to reflect on where the markets and investor psychology sit on the pendulum of greed and despair.
What about QT?
All of the attention when it comes to future Fed monetary policy decisions has been laser-focused on rate cuts. We would have to concur, and rightfully so. However, that doesn’t mean investors should take their eyes off the ball and not consider the Fed’s balance sheet.
12 Attractive Utility Stocks for Income and Growth
Today’s video on the Utility Sector is another in the continuing series of videos where we are looking for value in each of the 11 major sectors as reported by Standard & Poor’s. This particular video is going to be on Utility Stocks.
Netflix Shares Soar to Record After Huge Gain in Subscribers
Netflix Inc. shares soared to a record high on Wednesday after the streaming giant reported its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.
Nvidia Zero-Day Options Are the Next Big Bet for One ETF Upstart
The ETF industry’s upstart-in-chief is back with another roll of the new-product dice — this time betting on a game-changing expansion of Wall Street’s zero-day options boom.
JPMorgan’s Dimon Sees Inflated Stocks as ‘Animal Spirits’ Return
JPMorgan Chase & Co.’s dealmakers are spending their time in the Swiss Alps huddling with ebullient clients, but the boss of the biggest US bank is striking a more cautious tone.
No, Ray Dalio, There's Not a UK Debt Death Spiral
Bridgewater Associates founder Ray Dalio has a new book to promote. So while I am loath to fuel the sales campaign, his latest bomb in an interview with the Financial Times — warning of a “death spiral” for Britain’s sovereign debt — requires a riposte.
SoftBank Joins OpenAI, Oracle in AI Pact Unveiled by Trump
SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.
The Evolution of RIA Acquisition Models: A Strategic Analysis
As the industry matures, innovative operating models have emerged to address the diverse needs of both acquiring and selling firms. This analysis examines the primary models driving consolidation in the RIA space and explores their strategic implications for industry participants.
Understanding Your Internal Financial System
When you think about money behaviors that don’t serve you well, I suggest tuning in to your financial boardroom. Start with a little curiosity. What emotions surface? Which voices are the loudest?
Banks Kick Q4 Earnings Season Off with a Bang As CEO Sentiment Improves
Big US banks marked the beginning of the Q4 earnings season when they released results last week, and overall they were positive. Because of their position opening up the earnings season they tend to set the tone for things to come.
Q4 2024 Commentary: Defying Expectations, Embracing Optimization
Markets vigorously adjusted expectations for a new regulatory, economic, and geopolitical landscape driven by U.S. politics.