Easing financial conditions globally have made Morgan Stanley “outright bullish” on growth stocks in Asia and emerging markets versus their value peers.
A Singapore-based fintech investment firm is close to raising $100 million to back finance and blockchain startups in China and Southeast Asia.
Some of the world’s biggest investors are looking beyond interest-rate hikes, bank failures and the threat of recession to one of the greatest fears of all money managers — missing out on the next big rally.
CIO Larry Adam outlines the positive events that are outweighing negative developments and looks at dynamics to focus on in the week ahead.
Five of eight indexes on our world watch list posted gains through March 20, 2023. France's CAC 40 finished in the top spot with a YTD gain of 8.33%. Germany's DAXK finished second with a YTD gain of 6.94%, and China's Shanghai moved to third with a YTD gain of 4.71%. India's BSE SENSEX finished last with a loss of 5.28% YTD.
Portfolio Manager Andy Acker explains why the healthcare sector could offer an attractive combination of defense and growth in today’s market.
Franklin Templeton Investment Solutions explores the shared macro concerns that set the stage for the recent banking crisis, its ripple effects on the broader economy and implications for multi-asset investing.
The strongest force standing in the way of nuclear energy is the antiquated, irrational fear of it.
Sixty-six million Americans currently receive monthly benefits from Social Security, which, if nothing changes, is expected to be insolvent by 2035 at the latest. It’s time for Americans to take a greater role in their own retirement planning.
U.S. equities are lower as pressure has returned to the banking sector, which remains top of mind.
Portfolio manager Peeyush Mittal and research analyst Swagato Ghosh say India has a fiscal playbook to chart a path of stability and growth.
U.S. stocks are falling in pre-market trading as recent banking turmoil on this side of the pond made its way to Europe.
101 Lesson of Structural growth versus recovery growth investing.
China can match the US in artificial intelligence thanks to the expertise of companies from Alibaba to Baidu, joining a global tech transformation that will dwarf the mobile revolution, according to industry pioneer Kai-Fu Lee.
Regulators' prompt response and the creation of a new lending facility should limit broader market fallout from recent bank failures, notes Chief Investment Officer Larry Adam.
Silicon Valley Bank became the biggest US lender to fail in more than a decade, creating fears of contagion in tech and finance sectors in the US and around the world.
Can India capitalize on supply chain realignment to build its manufacturing sector?
U.S. stocks are extending last week's sharp declines that have come amid worries regarding the ultimate impact on the banking sector of the recent collapses of SVB Financial and Silvergate Capital.
If a picture is worth a thousand words, this will be the “longest” letter I’ve sent you in a while, as there are quite a few pictures. It may also be the most wide-ranging.
Like face recognition, artificial intelligence (AI), mRNA vaccines and other modern technology, Bitcoin is a key component of the ongoing, rapidly accelerating digital transformation.
Review the latest portfolio strategy commentary from Mike Gibbs, managing director of Equity Portfolio and Technical Strategy.
U.S. equities are modestly higher in pre-market action following the February labor report that was only modestly above estimates.
Head of Portfolio Strategy David Dali explains why it’s an opportune time to add emerging-market exposure.
Some money secrets within a couples are matters of privacy or convenience, while others cross a line into financial infidelity.
U.S. stocks are higher, paring weekly losses though the markets remain choppy following this week's hawkish Congressional testimony from Fed Chairman Jerome Powell.
Investors focusing on climate change often overlook Chinese firms.
The problem with speculation is that there’s usually a gap between the underlying risk and the inevitable outcome.
History shows a high risk of recession when central banks fight inflation.
Investors in emerging markets (EM) have endured a decade of poor performance. But things may be changing. Based on The Economist magazine’s data comparing hamburger prices across countries, many EM currencies look cheap today—as they did 20 years ago before an extended rally of EM stocks and bonds.
High-yield investors beware. Junk bonds that were financed at low, fixed rates will eventually mature and, according to Jeffrey Gundlach, weak issuers that cannot refinance at higher rates will default.
For decades since the end of the Cold War there have been very limited restrictions on foreign investments by US investors compared to those of other countries.
The planet’s billionaires are nearly $2 trillion poorer this year!
Alessio de Longis spent the last three months loading up on risk in his $1.1 billion Invesco Global Allocation Fund. Now, he’s winding down those positions and reversing course back to safety.
European stocks have outperformed this year as China’s economy restarts and the energy shock proved less severe than expected.
US job growth probably moderated last month after a blistering January pace, while the unemployment rate likely held at a 53-year low, illustrating a labor market that’s proved mostly impervious to the Federal Reserve’s massive interest-rate hikes.
More women in senior roles will support the long-term success and sustainability of emerging markets.
With bonds and stocks once again falling in unison, cash is the ultimate refuge.
Lufthansa’s blockbuster report is just the latest signal that commercial aviation, one of the hardest-hit industries during the pandemic, may be ready to make a landing again in investors’ portfolios.
While the sanctions regime imposed on Russia has dented its economy, it is far less severe than those imposed on North Korea and Iran, which included penalties on third-party countries. Imposing secondary sanctions could tighten the screws on Putin, but also accelerate deglobalization.
Hedge funds and proprietary trading firms are beefing up agricultural markets expertise by hiring traders as big swings in prices have made even relatively niche corners of commodities trading lucrative during the past year.
Review the latest Weekly Headings by CIO Larry Adam.
A drawdown to fight energy inflation has left the SPR at a new low.
Economic growth and inflation have surprised to the upside so far in 2023, not only thanks to the reopening of the Chinese economy, but also due to the resilience of the labour markets.
Markets this month were unable to build upon January's momentum following speculation that the central bank will continue with interest rate hikes.
Medical Properties Trust’s dividend at the 2022 rate of $1.16 is safe even if Prospect, its third-largest operator, does not pay a single cent in 2023.
Maybe UFOs are carrying wealthy aliens wanting to buy a lot of stuff and boost our economy. More likely, those forecasting a no landing have a false sense of optimism that the economy will continue to be resilient.
China has pledged to invest an additional $1.9 billion in the country’s biggest maker of memory chips, a deal that may herald a renewed influx of government capital into an industry hemmed in by US sanctions.
"We forgot that war is history’s favourite driver of inflation." -Niall Ferguson
In recent years we have witnessed a surge in sovereign bond defaults in emerging markets.
Strength in employment and inflation has caused markets to raise the implied terminal rate while still expecting the Fed to normalize policy – which is different from easing – in 2024.
Making the case for international value investing—thoughts from Templeton Global Equity Group on why now’s the time to consider expanding one’s investment horizons.
Five out of the 12 Federal Reserve Regional Districts currently publish monthly data on regional manufacturing: Dallas, Kansas City, New York, Richmond, and Philadelphia. The latest average of the five for February is -11.92, up from the previous month.
U.S. stocks are subdued in pre-market action as the global markets remain choppy amid the backdrop of uncertainty regarding the ultimate impact of aggressive monetary policy tightening.
In just one month, emerging Asian assets have gone from a buy to sell. And all signs point to continued caution as March draws near.
Gold bugs started 2023 with high hopes after the precious metals sector showed impressive relative strength versus paper assets in 2022.
The war has been tremendously costly, in Ukraine and beyond.
Valuations have reset after a volatile year.
A cohort of Wall Street’s emerging-market bulls is growing wary of calling a new dawn for riskier assets, opting for a more cautious approach to developing-nation currencies.
The asset management unit of JPMorgan Chase & Co. has wiped its ESG portfolios clean of their exposure to the Adani empire.
Debt isn’t forever but can definitely seem like it. That feeling is a clue you have too much debt. Wisely used, debt helps build income-generating assets that pay for themselves. The payments are manageable because you’re also getting something else of value.
Close to 90% of the world’s central banks are at some point in the process of creating their own digital currency. Are you ready?
Markets are unpredictable, which is one of many reasons it is difficult to consistently deliver alpha over long periods. In their latest commentary, our small cap growth team explains why their approach to managing the trade-off between risk and reward gives them the opportunity to outperform across market cycles.
As President Joe Biden’s administration prepares to accept requests for $39 billion in funding to jumpstart US production of microchips, his commerce chief emphasized the program’s focus is strengthening national security rather than boosting struggling chipmakers.
Many investors believe that gold is a safe long-term investment that can be used to hedge against risk. But should you include this precious metal in your retirement portfolio?
In a dark future for humans on Wall Street, banks fire traders en masse as artificial intelligence models like ChatGPT take over bond and commodities markets that were once too tough to automate.
One year after the invasion, Senior Sovereign Analyst Hassan Malik looks at the state of affairs in the Russia-Ukraine war and what has (and hasn't) changed.
The latest Kansas City Fed Manufacturing Survey composite index came in at 0, up 1 from last month's figure. The future outlook came in at 1, down 2 from last month. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
The S&P 500 is rising after falling the past four sessions as equites have shown some volatility amid festering uncertainty regarding the ultimate economic impact of aggressive global central bank tightening.
The rally in Chinese artificial intelligence stocks is showing further signs of cooling amid media reports of authorities banning access to OpenAI’s ChatGPT service.
Some of the world’s largest economies ramped up calls to increase support to troubled emerging countries ahead of a Group of 20 finance chiefs meeting.
Billions of dollars are accumulating in Moscow beyond the reach of its foreign owners.
The Northern Trust Economics team shares its outlook for key markets in the month ahead.
Silver is more volatile, cheaper and more tightly linked with the industrial economy. Gold is more expensive and better for diversifying your portfolio overall.
Just as China’s beleaguered tech stocks look to have put the worst of their regulatory blues behind them, a new threat is emerging as firms ramp up a battle for business at home.
After making more money than ever in the last few years, some of the world’s top energy traders are using the cash to expand in metals and agriculture.
On February 5, 2023, Charlie Munger sat down as the Chairman Emeritus of the Daily Journal Corporation (DJCO) to answer questions from shareholders and the public.
The U.S. needs to put in more effort at home to maintain its technological edge.
The common narrative is that we’ve (the US) been enjoying a long period of globalization and now that it is going into reverse, it will upend many of the benefits brought by globalization, to the US in particular.
Sound policymaking has helped India modernize and achieve robust economic growth, positioning it to become an increasingly important player on the world stage.
Lithium’s recent price collapse and the prospect that supply from new mines could accelerate the slump are stoking fierce debate in the electric-car battery industry.
Conviction is growing among strategists that this year’s powerful European equity rally is set to falter.
China’s internet firms are revving up efforts to outdo each other since Beijing began to wind back its bruising internet crackdown, spurring an abrupt surge in competition that’s threatening margins and spooking investors.
With the consumer price index increasing during the last few years at a rate not seen for nearly 40 years, the investing challenge for the coming year is finding ways to generate real returns during exceptionally high inflation.
A malinvestment bubble has persisted for years, sucking in a considerable amount of capital from many sources.
Something like the plot of Atlas Shrugged seems to be playing out across America.
Investors continue to seek signs of a change in season—and clues about how the Federal Reserve might react to it.
Tesla Inc. has been weighing a takeover of battery-metals miner Sigma Lithium Corp., people with knowledge of the matter said, amid rampant demand for the metal used in electric vehicle batteries.
Gold is nearing its strongest buy signal in four months as the U.S. dollar eases off a rally that’s carried the greenback to its highest point since early January.
The auto industry is navigating through shifting conditions in trade, policy, and preferences.
Emerging Markets
Morgan Stanley Turns ‘Outright Bullish’ on Asian Growth Stocks
Easing financial conditions globally have made Morgan Stanley “outright bullish” on growth stocks in Asia and emerging markets versus their value peers.
GLP-Backed Fund to Raise $100 Million for Asian Fintech Deals
A Singapore-based fintech investment firm is close to raising $100 million to back finance and blockchain startups in China and Southeast Asia.
Biggest Fear for Trillion-Dollar Funds Is Missing Next Rally
Some of the world’s biggest investors are looking beyond interest-rate hikes, bank failures and the threat of recession to one of the greatest fears of all money managers — missing out on the next big rally.
Incremental Progress Emerging in the Banking Sector Fallout
CIO Larry Adam outlines the positive events that are outweighing negative developments and looks at dynamics to focus on in the week ahead.
World Markets Update: March 20, 2023
Five of eight indexes on our world watch list posted gains through March 20, 2023. France's CAC 40 finished in the top spot with a YTD gain of 8.33%. Germany's DAXK finished second with a YTD gain of 6.94%, and China's Shanghai moved to third with a YTD gain of 4.71%. India's BSE SENSEX finished last with a loss of 5.28% YTD.
Two Sides of Healthcare, One Strong Investment Case
Portfolio Manager Andy Acker explains why the healthcare sector could offer an attractive combination of defense and growth in today’s market.
A Multi-Asset Perspective on Recent Bank Turmoil: Don’t Lose Sight of the Macro Story
Franklin Templeton Investment Solutions explores the shared macro concerns that set the stage for the recent banking crisis, its ripple effects on the broader economy and implications for multi-asset investing.
Lies, Damn Lies, and Visions of Nuclear Catastrophe
The strongest force standing in the way of nuclear energy is the antiquated, irrational fear of it.
Pension Reform Showdown: Will The U.S. Follow France’s Bold Retirement Age Changes?
Sixty-six million Americans currently receive monthly benefits from Social Security, which, if nothing changes, is expected to be insolvent by 2035 at the latest. It’s time for Americans to take a greater role in their own retirement planning.
Banking Sector Uncertainty Keeps Pressure on Stocks
U.S. equities are lower as pressure has returned to the banking sector, which remains top of mind.
India’s Balancing Act
Portfolio manager Peeyush Mittal and research analyst Swagato Ghosh say India has a fiscal playbook to chart a path of stability and growth.
Stocks Falling as European Banking Worries Flare Up
U.S. stocks are falling in pre-market trading as recent banking turmoil on this side of the pond made its way to Europe.
Chinese Internet – the Boom and Bust Story
101 Lesson of Structural growth versus recovery growth investing.
China Can Quickly Catch Up to US AI, Says Venture Veteran
China can match the US in artificial intelligence thanks to the expertise of companies from Alibaba to Baidu, joining a global tech transformation that will dwarf the mobile revolution, according to industry pioneer Kai-Fu Lee.
Recent Bank Failures a Potential Game-Changer for The Fed
Regulators' prompt response and the creation of a new lending facility should limit broader market fallout from recent bank failures, notes Chief Investment Officer Larry Adam.
Here’s How SVB’s Collapse Is Reverberating Around the World
Silicon Valley Bank became the biggest US lender to fail in more than a decade, creating fears of contagion in tech and finance sectors in the US and around the world.
India Seeks More Manufacturing
Can India capitalize on supply chain realignment to build its manufacturing sector?
Stocks Remain Under Pressure as Banking Worries Remain
U.S. stocks are extending last week's sharp declines that have come amid worries regarding the ultimate impact on the banking sector of the recent collapses of SVB Financial and Silvergate Capital.
Thousand-Word Equivalents
If a picture is worth a thousand words, this will be the “longest” letter I’ve sent you in a while, as there are quite a few pictures. It may also be the most wide-ranging.
Bitcoin Is A Key Component Of The Great Digital Transformation
Like face recognition, artificial intelligence (AI), mRNA vaccines and other modern technology, Bitcoin is a key component of the ongoing, rapidly accelerating digital transformation.
Weekly Market Guide
Review the latest portfolio strategy commentary from Mike Gibbs, managing director of Equity Portfolio and Technical Strategy.
Stocks Trying to Battle Back From a Two-Day Rout
U.S. equities are modestly higher in pre-market action following the February labor report that was only modestly above estimates.
Add Emerging Market Strength in Global Weakness
Head of Portfolio Strategy David Dali explains why it’s an opportune time to add emerging-market exposure.
When Does Money Secrecy Become Financial Infidelity?
Some money secrets within a couples are matters of privacy or convenience, while others cross a line into financial infidelity.
Stocks Chipping Away at Weekly Losses
U.S. stocks are higher, paring weekly losses though the markets remain choppy following this week's hawkish Congressional testimony from Fed Chairman Jerome Powell.
China’s Green Enablers Deserve a Place in Equity Funds
Investors focusing on climate change often overlook Chinese firms.
Pushing Your Luck
The problem with speculation is that there’s usually a gap between the underlying risk and the inevitable outcome.
Hard to Achieve a Soft Landing
History shows a high risk of recession when central banks fight inflation.
Are Cheap Burgers in Emerging Markets a Good Sign for Investors?
Investors in emerging markets (EM) have endured a decade of poor performance. But things may be changing. Based on The Economist magazine’s data comparing hamburger prices across countries, many EM currencies look cheap today—as they did 20 years ago before an extended rally of EM stocks and bonds.
Gundlach: We Could Have the Worst Default Cycle Ever
High-yield investors beware. Junk bonds that were financed at low, fixed rates will eventually mature and, according to Jeffrey Gundlach, weak issuers that cannot refinance at higher rates will default.
The US and China: The Tech Cold War Continues
For decades since the end of the Cold War there have been very limited restrictions on foreign investments by US investors compared to those of other countries.
Newsletter Volume 16, No. 1 February 2023
The planet’s billionaires are nearly $2 trillion poorer this year!
How a Billion-Dollar Invesco Fund Did a U-Turn After Hot Inflation Data
Alessio de Longis spent the last three months loading up on risk in his $1.1 billion Invesco Global Allocation Fund. Now, he’s winding down those positions and reversing course back to safety.
Europe: Sticky Inflation Favors Income
European stocks have outperformed this year as China’s economy restarts and the energy shock proved less severe than expected.
US Jobs Report and Powell Testimony Take Center Stage
US job growth probably moderated last month after a blistering January pace, while the unemployment rate likely held at a 53-year low, illustrating a labor market that’s proved mostly impervious to the Federal Reserve’s massive interest-rate hikes.
The Value of Women Across the Board
More women in senior roles will support the long-term success and sustainability of emerging markets.
BofA Strategists See Cash Back in Vogue With Markets on Edge
With bonds and stocks once again falling in unison, cash is the ultimate refuge.
Airline Stocks Are Soaring Over The Negative Headlines, Lifted By Positive Earnings
Lufthansa’s blockbuster report is just the latest signal that commercial aviation, one of the hardest-hit industries during the pandemic, may be ready to make a landing again in investors’ portfolios.
Why the Russia Sanctions Are Missing the Mark
While the sanctions regime imposed on Russia has dented its economy, it is far less severe than those imposed on North Korea and Iran, which included penalties on third-party countries. Imposing secondary sanctions could tighten the screws on Putin, but also accelerate deglobalization.
Crop Traders in High Demand at Hedge Funds Looking to Cash In on Commodities
Hedge funds and proprietary trading firms are beefing up agricultural markets expertise by hiring traders as big swings in prices have made even relatively niche corners of commodities trading lucrative during the past year.
Bonds Haven’t Been This Attractive Since 2008
Review the latest Weekly Headings by CIO Larry Adam.
Finding the Will to Refill the Strategic Petroleum Reserve
A drawdown to fight energy inflation has left the SPR at a new low.
Navigating A Turbulent Environment: EM IG To The Rescue
Economic growth and inflation have surprised to the upside so far in 2023, not only thanks to the reopening of the Chinese economy, but also due to the resilience of the labour markets.
Fed's Path to Cooling Inflation Continues to Loom Large
Markets this month were unable to build upon January's momentum following speculation that the central bank will continue with interest rate hikes.
Medical Properties Trust: 11.26% Yield – The Risk is Priced In
Medical Properties Trust’s dividend at the 2022 rate of $1.16 is safe even if Prospect, its third-largest operator, does not pay a single cent in 2023.
The "No Landing" Scenario is as Likely as UFOs
Maybe UFOs are carrying wealthy aliens wanting to buy a lot of stuff and boost our economy. More likely, those forecasting a no landing have a false sense of optimism that the economy will continue to be resilient.
China Plans to Inject $1.9 Billion Into Top Memory Chipmaker
China has pledged to invest an additional $1.9 billion in the country’s biggest maker of memory chips, a deal that may herald a renewed influx of government capital into an industry hemmed in by US sanctions.
One Year On
"We forgot that war is history’s favourite driver of inflation." -Niall Ferguson
The Many Faces of Sovereign Default
In recent years we have witnessed a surge in sovereign bond defaults in emerging markets.
Data Alters Market's Expectations for Peak Policy Rate But Not Outlook for Fed Cuts
Strength in employment and inflation has caused markets to raise the implied terminal rate while still expecting the Fed to normalize policy – which is different from easing – in 2024.
International Equities: Poised for Recovery
Making the case for international value investing—thoughts from Templeton Global Equity Group on why now’s the time to consider expanding one’s investment horizons.
February Regional Fed Manufacturing Overview
Five out of the 12 Federal Reserve Regional Districts currently publish monthly data on regional manufacturing: Dallas, Kansas City, New York, Richmond, and Philadelphia. The latest average of the five for February is -11.92, up from the previous month.
How Russia’s War Has Shifted the Geopolitical Landscape
Review the latest Weekly Headings by CIO Larry Adam.
Stocks Muted as Choppiness Remains
U.S. stocks are subdued in pre-market action as the global markets remain choppy amid the backdrop of uncertainty regarding the ultimate impact of aggressive monetary policy tightening.
Frightful February Ends Call to Buy Everything in Emerging Asia
In just one month, emerging Asian assets have gone from a buy to sell. And all signs point to continued caution as March draws near.
Better Early Than Late
Gold bugs started 2023 with high hopes after the precious metals sector showed impressive relative strength versus paper assets in 2022.
One Year of War in Ukraine
The war has been tremendously costly, in Ukraine and beyond.
First Quarter 2023 Fixed-Income Sector Views
Valuations have reset after a volatile year.
Emerging Markets Will Have to Weather Another Dollar Hurrah
A cohort of Wall Street’s emerging-market bulls is growing wary of calling a new dawn for riskier assets, opting for a more cautious approach to developing-nation currencies.
JPMorgan Investment Arm Purges Its ESG Funds of Adani Stocks
The asset management unit of JPMorgan Chase & Co. has wiped its ESG portfolios clean of their exposure to the Adani empire.
Deficits Forever
Debt isn’t forever but can definitely seem like it. That feeling is a clue you have too much debt. Wisely used, debt helps build income-generating assets that pay for themselves. The payments are manageable because you’re also getting something else of value.
Your CBDC Survival Guide
Close to 90% of the world’s central banks are at some point in the process of creating their own digital currency. Are you ready?
Small Cap Growth Investing Across Market Cycles
Markets are unpredictable, which is one of many reasons it is difficult to consistently deliver alpha over long periods. In their latest commentary, our small cap growth team explains why their approach to managing the trade-off between risk and reward gives them the opportunity to outperform across market cycles.
US Takes Security-First Focus in Doling Out $39 Billion Chip Aid
As President Joe Biden’s administration prepares to accept requests for $39 billion in funding to jumpstart US production of microchips, his commerce chief emphasized the program’s focus is strengthening national security rather than boosting struggling chipmakers.
Should You Invest in Gold for Retirement?
Many investors believe that gold is a safe long-term investment that can be used to hedge against risk. But should you include this precious metal in your retirement portfolio?
Wall Street's ChatGPT Nightmare Is Over Before It Starts as Banks Crack Down
In a dark future for humans on Wall Street, banks fire traders en masse as artificial intelligence models like ChatGPT take over bond and commodities markets that were once too tough to automate.
One Year Into the Russia-Ukraine War, and No End in Sight
One year after the invasion, Senior Sovereign Analyst Hassan Malik looks at the state of affairs in the Russia-Ukraine war and what has (and hasn't) changed.
Kansas City Fed Manufacturing Survey: Activity Was Flat
The latest Kansas City Fed Manufacturing Survey composite index came in at 0, up 1 from last month's figure. The future outlook came in at 1, down 2 from last month. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
Stocks Higher After String of Losses
The S&P 500 is rising after falling the past four sessions as equites have shown some volatility amid festering uncertainty regarding the ultimate economic impact of aggressive global central bank tightening.
China's ChatGPT Stock Frenzy Cools Amid Reported Regulatory Ban
The rally in Chinese artificial intelligence stocks is showing further signs of cooling amid media reports of authorities banning access to OpenAI’s ChatGPT service.
Calls Grow for Global Finance Architecture Reform Amid Debt Woes
Some of the world’s largest economies ramped up calls to increase support to troubled emerging countries ahead of a Group of 20 finance chiefs meeting.
The Growing Cash Pile in Moscow That Investors Can't Touch
Billions of dollars are accumulating in Moscow beyond the reach of its foreign owners.
Winter Resilience
The Northern Trust Economics team shares its outlook for key markets in the month ahead.
Gold versus Silver Investments: Which is Better?
Silver is more volatile, cheaper and more tightly linked with the industrial economy. Gold is more expensive and better for diversifying your portfolio overall.
A $33 Billion Hit Shows China's Newest Stock Worry
Just as China’s beleaguered tech stocks look to have put the worst of their regulatory blues behind them, a new threat is emerging as firms ramp up a battle for business at home.
Energy Traders, Flush With Cash, Are Moving Into Crops and Metals
After making more money than ever in the last few years, some of the world’s top energy traders are using the cash to expand in metals and agriculture.
Ramblings From My Idol, Charlie Munger
On February 5, 2023, Charlie Munger sat down as the Chairman Emeritus of the Daily Journal Corporation (DJCO) to answer questions from shareholders and the public.
Ballooning U.S.-China Tensions
The U.S. needs to put in more effort at home to maintain its technological edge.
Mid-Quarter Update: The Globalization Myth
The common narrative is that we’ve (the US) been enjoying a long period of globalization and now that it is going into reverse, it will upend many of the benefits brought by globalization, to the US in particular.
India at a Crossroads
Sound policymaking has helped India modernize and achieve robust economic growth, positioning it to become an increasingly important player on the world stage.
Lithium's Plunge Is Pitting Cathie Wood Against Sector Veterans
Lithium’s recent price collapse and the prospect that supply from new mines could accelerate the slump are stoking fierce debate in the electric-car battery industry.
BofA and JPMorgan Say European Rally Will Fizzle Out Soon
Conviction is growing among strategists that this year’s powerful European equity rally is set to falter.
China Tech Giants Tumble Amid Growing Fears of Price Wars
China’s internet firms are revving up efforts to outdo each other since Beijing began to wind back its bruising internet crackdown, spurring an abrupt surge in competition that’s threatening margins and spooking investors.
The Top Six Investments for Inflation in 2023
With the consumer price index increasing during the last few years at a rate not seen for nearly 40 years, the investing challenge for the coming year is finding ways to generate real returns during exceptionally high inflation.
A Sustained Reopening: 1Q 2022 Outlook
A malinvestment bubble has persisted for years, sucking in a considerable amount of capital from many sources.
White House Actions Raise Risks to Economy
Something like the plot of Atlas Shrugged seems to be playing out across America.
Market Perspective: Searching for Spring
Investors continue to seek signs of a change in season—and clues about how the Federal Reserve might react to it.
Tesla Is Considering a Bid for Battery Metals Miner
Tesla Inc. has been weighing a takeover of battery-metals miner Sigma Lithium Corp., people with knowledge of the matter said, amid rampant demand for the metal used in electric vehicle batteries.
Gold Nearing Strongest Buy Signal In Four Months
Gold is nearing its strongest buy signal in four months as the U.S. dollar eases off a rally that’s carried the greenback to its highest point since early January.
Driving Change
The auto industry is navigating through shifting conditions in trade, policy, and preferences.