Annie Duke’s latest and best of her books, Quit, is on making decisions under uncertainty.
Personal income (excluding transfer receipts) in December rose 0.27% and is up 5.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.21% and was up 0.3% year-over-year.
In stock investing there’s a management style called “growth at a reasonable price” or GARP. It seeks to achieve steadier results by avoiding both expensive growth stocks and beaten-down value stocks.
Since its launch in November, ChatGPT has been a smash hit. To explore the benefits of airline deregulation in the U.S., we sought the help of the AI content generator.
Here are six steps to implement multiple niches, bring in new clients, and accelerate their growth goals.
The US economy grew faster than forecast into the end of 2022, but there were signs of slowing underlying demand as the steepest interest-rate hikes in decades threaten growth this year.
Investors are still recovering from the municipal market beatdown of 2022, but the current higher absolute yield levels provide an attractive “re-entry” point for municipal market investors.
This morning's seasonally adjusted 186K new claims, down 6k from the previous week's revised figure, came in below the Investing.com forecast of 205K.
The once-burgeoning realm of crypto and decentralized finance keeps imploding, presenting policy makers with a quandary: Should they just let it burn, or step in to address its now-obvious flaws?
U.S. equities finished mixed in a lackluster trading session, as Q4 earnings season shifted into a higher gear today.
2022 was a banner year, and not in a good way.
COVID-19 has been a catalyst for change in many aspects of our lives, not least the migration to flexible working, which would have taken many more years without the pandemic’s brutal intervention.
Two major issues clients should consider in creating their own long-term care plan are where they will live and how they will pay for the care they are likely to need.
Do you fear looking back at your career one day and asking yourself “what if” you had made a move to independence?
First, the good news: we estimate that real GDP grew at a solid 2.8% annual rate in the fourth quarter.
Paying down student debt or saving for retirement can seem like mutually exclusive goals. A little-known workplace benefit could soon allow more workers to do both.
The latest Conference Board Leading Economic Index (LEI) for December was down 1% from the November final figure of 111.6, marking the 10th consecutive MoM decline.
So far, my 2023 investing looks just like 2022: lots of waiting.
It’s big news that Envestnet is moving into the RIA custodial space and will soon be competing head-to-head with its biggest integration partners: an expanded Schwab platform, Fidelity and Pershing. I suspect that this is just the first of many so-called software “platforms” that will jump into the custody competition.
Ray Dalio, founder of the world’s largest hedge fund, has one.
A January survey conducted by Bank of America shows that 91% of money managers believe China will “fully reopen” in 2023. That’s a significant increase from December 2022. Growth expectations for the country are also at a 17-year high.
Market watchers on Wall Street attribute this week’s stock selloff to the insidious threat of recession.
The greatest financial risk for depleting retirement resources is an unexpected and lengthy stay in a long-term healthcare facility.
A correct, affordable and successful industrial policy would create the conditions in which the U.S. and foreign companies will invest in U.S. re-industrialization in their own self-interest.
We call them narratives, memes, or mind viruses.
Portfolio Manager Michael Oh, CFA, reviews what he seeks out in innovative companies and why he thinks Asia may be in the early innings of innovation in more than technology.
Last year an infamous cryptocurrency ad featured the slogan “fortune favors the brave.” And while historically fortune does favor the brave, there is a difference between courage and blind faith.
Let me share a story of an RIA who will be forced to mount a legal defense because of a lawsuit that is likely to be filed by two of his retired clients.
One syndrome is surprisingly common among the children of high-net worth parents: “failure to launch.”
Markets provided investors with a dozen lessons in 2022 (and a bonus one in the postscript).
Investors don’t appear to have been fazed by the FAA mishap. Shares of U.S. domestic airlines finished Wednesday up more than 1% before advancing a further 4% on Thursday in response to positive earnings estimates.
Former Treasury Secretary Lawrence Summers said that the US economy is still facing a recession this year, despite encouraging news in recent weeks.
One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust.
During the holiday season, everyone is looking for a good deal. While searching by the highest percentage discounts seems like it may lead to a steal, the results tend to be underwhelming. Investors often make the same mistake during bear markets.
Big global banks are eying some of the world’s most fragile countries for a new experiment in financial engineering: debt relief in exchange for environmental protections.
Workers and managers are in a tug-of-war over return to office policies.
US inflation continued to slow in December, adding to evidence price pressures have peaked and putting the Federal Reserve on track to again slow the pace of interest-rate hikes.
The six biggest Wall Street banks are expected to slash their corporate bond issuance in 2023 for a second year in a row, offering a bright spot for investors nursing record losses from the debt last year.
The Bureau of Labor Statistics released the December Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 6.45%, down from 7.11% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 5.71%, down from 5.96% the previous month.
The market volatility and interest-rate hikes that gave US banks their biggest windfall last year may prove to be their biggest headache in 2023.
My firm’s leader had a major unexpected undiagnosed medical issue. He walked out of the office one day and I haven’t seen him for four weeks.
Can you believe these grifters hawking indexed universal life (IUL) insurance on TikTok? Here’s the actions I’m taking to put an end to this predatory nonsense.
Healthcare stocks have remained in vogue through volatile markets, driven by increased interest in the sector during COVID-19.
Let's take a closer look at this week's employment report numbers on Full and Part-Time Employment.
Investors who use a 60/40 portfolio had a rough year. In the past, putting 60% in stocks and 40% in bonds has often helped investors hedge against losses in either asset class. But 2022 had other ideas.
Build your ladder with multiple target-maturity ETFs representing different segments of the bond market, with different target years.
What does the ratio of unemployment claims tell us about where we are in the business cycle and recession risk?
Federal Reserve officials Friday stressed further interest-rate hikes are needed to tame inflation even though there are emerging signs that price pressures are cooling.
The December US Services Purchasing Managers' Index conducted by S&P Global came in at 44.7 percent, down from the final November estimate of 46.2 and in contraction territory.
Municipal Bond Strategist Jim Grabovac shares his views on outflows, trends and opportunities in the municipal sector.
U.S. equities are solidly higher in afternoon action, paring some of the losses that have plagued the start of 2023.
The December S&P Global US Manufacturing PMI™ came in at 46.2, down 1.5 from the final November figure and in contraction territory for the second consecutive month. S&P Global US Manufacturing PMI™ is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
Here are my five golden rules of marketing for advisors from Warren Buffett.
In the first few days of 2023, at least 500 US workers will likely have already paid their Social Security taxes for the year.
In some ways, the 2023 economic outlook for the US is locked in. The Federal Reserve’s goal is to push the rate of inflation back down to 2% over the next few years.
Relative to the accumulation phase, strategies that mitigate the unique risks faced by retirees in decumulation are less understood and researched. By identifying and illustrating those risks, planners can better prepare clients for retirement.
Contrary to what financial theory predicts, new research from Europe shows that the elderly accumulate assets later in life than expected, likely because they want to leave bequests, are receiving pensions, or are reluctant to part with assets such as their homes.
Wealthy retirees seem to have scored big in Congress’ sweeping year-end spending package.
Savvy investors seized tightening credit markets this year to reshape the distressed investing playing field just as more companies look destined for default in 2023.
Private credit can be an attractive asset that has provided high yield and protection against the risks of rising inflation. In addition, the asset class has a strong credit history – specifically senior, secured, sponsored debt.
The Federal Reserve’s policy makers are going to become incrementally more dovish in 2023, as a new roster of senior officials brings a greater focus on maximum employment to its policy-setting committee.
The remains of Sam Bankman-Fried’s former empire FTX Group are drawing interest from some of the largest names in distressed investing, in a daredevil bet that heavily discounted creditor claims on the bankrupt cryptocurrency conglomerate will ultimately pay off.
Here are nine tips that will help your family members stay healthy and financially secure as they age.
The economics teams looks back at the most significant stories we covered during 2022.
Considering that a new year almost always brings surprises of one form or another, we've highlighted our top five that may define the global markets in 2023.
The Fed has massively inverted the yield curve. We explain why investors might be frontrunning themselves and why the long-term rate won’t budge.
Here’s a breakdown of the pros and cons of trading in your traditional bank for a virtual banking experience.
I will use an example and an actuarial model to compare the efficiency of three strategies for strengthening a retired or near-retired client’s balance sheet under both a lower and a higher assumed future inflation scenario.
Rising interest rates was the dominant story in 2022. Did fixed income losses cripple insurance companies? Or has the insurance industry shifted the risk to your clients who purchased their products?
This important milestone is the culmination of decades’ worth of research and lots of trial and error, and it makes good on the hope that humanity will one day enjoy 100% clean and plentiful energy.
If you think high-yield savings accounts offer juicy rates to park some cash, wait until you see what money-market funds are paying.
Global Investment Report's 3Q Update of the 2022 hedge fund survey.
There are two types of tax-advantaged accounts for saving for college expenses: A Uniform Transfers to Minors Act (UTMA) account and a 529 Plan. While both plans have their differences and advantages, consider both as viable options.
Falling prices for cars and holiday discounting contributed to softer U.S. inflation, creating more room for the Fed to potentially dial back its hawkish stance.
One thing to consider when opening a 529 plan is whether it should be a custodial or individual account. While both allow you to save for college costs and enjoy some tax breaks, they differ in terms of who has control of the account and the assets in it.
As the US economy veered toward the biggest inflation shock in four decades, investors flocked to the one corner of Wall Street that seemed a sure-fire refuge: Treasuries that provide extra compensation to keep up with rising consumer prices.
The path of US inflation in 2023 may have more surprises in store after a year in which consumers suffered the biggest cost-of-living hit in 40 years, spurring steep interest-rate hikes by the Federal Reserve and spooking investors.
“Verb sales” in retirement income, or in liability minimization, needs regulatory support immediately. By “verbs,” I mean selling services – such as financial planning – rather than “nouns” – such as investment products like annuities.
A near-total ban on imports of Russian crude into the European Union is finally hitting Russia’s oil revenue. Concerns that it would provide the Kremlin with a windfall to fund its war in Ukraine have been confounded — for now.
Ole Hansen, respected commodity strategist at Denmark’s Saxo Bank, says it’s possible once markets realize that global inflation will remain hot despite monetary tightening. I believe, as I’ve said before, that gold could climb as high as $4,000.
The pay negotiation season is looking increasingly fraught this year as workers fret about 8% inflation — and their job security.
The Federal Reserve is set to disappoint Wall Street as it keeps rates at their peak throughout 2023, dashing hopes markets have priced in for rate cuts in the second half and making a recession very likely.
From homeowners renting out spare rooms to publicly traded real estate investment trusts, landlords in colder areas of the US are bracing for their heating costs to soar this winter.
Some of the world's biggest investors predict that stocks will see low double-digit gains next year, which would bring relief after global equities suffered their worst loss since 2008.
“95 years ago, your crystal ball reveals: Russian debt default, LTCM fail, DotCom implosion, 9/11 attacks, financial crisis and great recession, pandemic killing millions, 3 market crashes. Would you put your money into stocks? No? You missed a 10X return.”
In his latest memo, Howard Marks weaves together some of the themes he’s explored in 2022 to explain what he believes really matters in investing and what doesn’t. He discusses the disadvantages of short-term thinking, the difference between volatility and risk, and the one word he believes defines the essence of investment excellence.
All the talk lately about the size of the national debt is obscuring the real problem: The US government made the wrong bet on interest rates, and that will cost taxpayers for years to come.
Disabled workers are helping close the labor gap thanks to remote work.
There’s enormous scope for India and Greater China to increase GDP per capita relative to the U.S. and other developed nations
Oil fell the most in more than two weeks as broader equity markets collapsed and risk-averse investors pared crude positions ahead of the end of the year.
Healthcare
How the Greatest Female Poker Player Reduces Risk
Annie Duke’s latest and best of her books, Quit, is on making decisions under uncertainty.
The Big Four: Real Personal Income in December
Personal income (excluding transfer receipts) in December rose 0.27% and is up 5.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.21% and was up 0.3% year-over-year.
Growth Pains
In stock investing there’s a management style called “growth at a reasonable price” or GARP. It seeks to achieve steadier results by avoiding both expensive growth stocks and beaten-down value stocks.
I Asked ChatGPT to Write About Airline Deregulation in the U.S. Here’s How It Went
Since its launch in November, ChatGPT has been a smash hit. To explore the benefits of airline deregulation in the U.S., we sought the help of the AI content generator.
An Uncommon Approach to Implementing Multiple Niches
Here are six steps to implement multiple niches, bring in new clients, and accelerate their growth goals.
US Economy Shows Slowdown Signs After Growing 2.9% Last Quarter
The US economy grew faster than forecast into the end of 2022, but there were signs of slowing underlying demand as the steepest interest-rate hikes in decades threaten growth this year.
Municipal Bonds: Is it Safe to Get Back in the Water?
Investors are still recovering from the municipal market beatdown of 2022, but the current higher absolute yield levels provide an attractive “re-entry” point for municipal market investors.
Weekly Unemployment Claims: Down 6K, Better Than Forecast
This morning's seasonally adjusted 186K new claims, down 6k from the previous week's revised figure, came in below the Investing.com forecast of 205K.
Crypto Is Worth Fixing. Regulators Should Get Moving
The once-burgeoning realm of crypto and decentralized finance keeps imploding, presenting policy makers with a quandary: Should they just let it burn, or step in to address its now-obvious flaws?
Stocks Lack Direction in Choppy Trading
U.S. equities finished mixed in a lackluster trading session, as Q4 earnings season shifted into a higher gear today.
1099 Season – An Opportunity for Tax-Aware Advisors
2022 was a banner year, and not in a good way.
A Charitable Way to Beat Taxes in the Afterlife
COVID-19 has been a catalyst for change in many aspects of our lives, not least the migration to flexible working, which would have taken many more years without the pandemic’s brutal intervention.
Creating a Plan for Long-Term Care
Two major issues clients should consider in creating their own long-term care plan are where they will live and how they will pay for the care they are likely to need.
Ask Brad: Do You Rent or Own Your Advisory Practice?
Do you fear looking back at your career one day and asking yourself “what if” you had made a move to independence?
Rearview Mirror OK, Collision Ahead
First, the good news: we estimate that real GDP grew at a solid 2.8% annual rate in the fourth quarter.
How to Save for Retirement by Paying Down Your Student Loans
Paying down student debt or saving for retirement can seem like mutually exclusive goals. A little-known workplace benefit could soon allow more workers to do both.
CB LEI: 10th Consecutive Decline in December, Recession Signal Continues
The latest Conference Board Leading Economic Index (LEI) for December was down 1% from the November final figure of 111.6, marking the 10th consecutive MoM decline.
Why I’m Waiting for the Fed to Pivot
So far, my 2023 investing looks just like 2022: lots of waiting.
How Custodial Competition Will Transform the Advisor Space
It’s big news that Envestnet is moving into the RIA custodial space and will soon be competing head-to-head with its biggest integration partners: an expanded Schwab platform, Fidelity and Pershing. I suspect that this is just the first of many so-called software “platforms” that will jump into the custody competition.
A Powerful New Tool Transforms How Billionaires Give Fortunes Away
Ray Dalio, founder of the world’s largest hedge fund, has one.
Fund Managers Are Betting On China Stocks And Commodities As The Country Reopens
A January survey conducted by Bank of America shows that 91% of money managers believe China will “fully reopen” in 2023. That’s a significant increase from December 2022. Growth expectations for the country are also at a 17-year high.
US Market Watchers Are Fretting Over the Biggest January Options Expiry in a Decade
Market watchers on Wall Street attribute this week’s stock selloff to the insidious threat of recession.
Will Your Clients' Retirement Resources Cover Long-Term Care?
The greatest financial risk for depleting retirement resources is an unexpected and lengthy stay in a long-term healthcare facility.
A Four-Step Plan for Re-Industrialization
A correct, affordable and successful industrial policy would create the conditions in which the U.S. and foreign companies will invest in U.S. re-industrialization in their own self-interest.
Payden & Rygel 2023 Macro Outlook: Macro Memes & Mind Viruses
We call them narratives, memes, or mind viruses.
Asia: The Early Innings of Innovation?
Portfolio Manager Michael Oh, CFA, reviews what he seeks out in innovative companies and why he thinks Asia may be in the early innings of innovation in more than technology.
Beware of the “Obvious” Trade
Last year an infamous cryptocurrency ad featured the slogan “fortune favors the brave.” And while historically fortune does favor the brave, there is a difference between courage and blind faith.
Will RIAs be Liable for Failed Retirement Income Planning?
Let me share a story of an RIA who will be forced to mount a legal defense because of a lawsuit that is likely to be filed by two of his retired clients.
Failure to Launch Syndrome: What It Is and Why Wealthy Families Are Susceptible
One syndrome is surprisingly common among the children of high-net worth parents: “failure to launch.”
Lessons from the Markets in 2022
Markets provided investors with a dozen lessons in 2022 (and a bonus one in the postscript).
Unfazed by Airline Grounding, Investors Look Ahead to Earnings
Investors don’t appear to have been fazed by the FAA mishap. Shares of U.S. domestic airlines finished Wednesday up more than 1% before advancing a further 4% on Thursday in response to positive earnings estimates.
Summers Says Recession Still Looms, Fed Getting Closer to Done
Former Treasury Secretary Lawrence Summers said that the US economy is still facing a recession this year, despite encouraging news in recent weeks.
Wall Street's Lucrative Leveraged-Debt Machine Is Breaking Down
One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust.
Cheap Isn’t Always a Bargain
During the holiday season, everyone is looking for a good deal. While searching by the highest percentage discounts seems like it may lead to a steal, the results tend to be underwhelming. Investors often make the same mistake during bear markets.
Wall Street's New ESG Money-Maker Promises Nature Conservation - With a Catch
Big global banks are eying some of the world’s most fragile countries for a new experiment in financial engineering: debt relief in exchange for environmental protections.
Breaking the RTO Plateau
Workers and managers are in a tug-of-war over return to office policies.
US Inflation Cools Again, Putting Fed on Track to Downshift
US inflation continued to slow in December, adding to evidence price pressures have peaked and putting the Federal Reserve on track to again slow the pace of interest-rate hikes.
Top US Banks Slash Bond Sales, a Bright Spot for Investors
The six biggest Wall Street banks are expected to slash their corporate bond issuance in 2023 for a second year in a row, offering a bright spot for investors nursing record losses from the debt last year.
Consumer Price Index: December Headline at 6.45%, Down from November
The Bureau of Labor Statistics released the December Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 6.45%, down from 7.11% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 5.71%, down from 5.96% the previous month.
Banks' Revenue Bonanza Seen Under Threat From Looming US Recession
The market volatility and interest-rate hikes that gave US banks their biggest windfall last year may prove to be their biggest headache in 2023.
How to Manage a Leaderless Practice
My firm’s leader had a major unexpected undiagnosed medical issue. He walked out of the office one day and I haven’t seen him for four weeks.
Gimme a Break, Bro – Stop the TikTok Grifters
Can you believe these grifters hawking indexed universal life (IUL) insurance on TikTok? Here’s the actions I’m taking to put an end to this predatory nonsense.
Healthcare Stocks: An Innovative Antidote for Volatile Times
Healthcare stocks have remained in vogue through volatile markets, driven by increased interest in the sector during COVID-19.
Full-time and Part-time Employment: A Deeper Look
Let's take a closer look at this week's employment report numbers on Full and Part-Time Employment.
Is It Time To Rethink The 60/40 Portfolio?
Investors who use a 60/40 portfolio had a rough year. In the past, putting 60% in stocks and 40% in bonds has often helped investors hedge against losses in either asset class. But 2022 had other ideas.
How to Build a Bond Ladder Using ETFs
Build your ladder with multiple target-maturity ETFs representing different segments of the bond market, with different target years.
The Civilian Labor Force, Unemployment Claims and the Business Cycle
What does the ratio of unemployment claims tell us about where we are in the business cycle and recession risk?
Fed Officials Call for More Rate Hikes Even as Price Pressures Cool
Federal Reserve officials Friday stressed further interest-rate hikes are needed to tame inflation even though there are emerging signs that price pressures are cooling.
S&P Global Services PMI: Sharp Decline in December
The December US Services Purchasing Managers' Index conducted by S&P Global came in at 44.7 percent, down from the final November estimate of 46.2 and in contraction territory.
Municipal Outlook: Fresh Opportunities After the Pressures of 2022
Municipal Bond Strategist Jim Grabovac shares his views on outflows, trends and opportunities in the municipal sector.
Stocks Higher to Pare Early-Year Losses
U.S. equities are solidly higher in afternoon action, paring some of the losses that have plagued the start of 2023.
December S&P Global US Manufacturing PMI™: Deteriorating Faster
The December S&P Global US Manufacturing PMI™ came in at 46.2, down 1.5 from the final November figure and in contraction territory for the second consecutive month. S&P Global US Manufacturing PMI™ is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
Buffett’s Five Golden Rules for Advisor Marketing
Here are my five golden rules of marketing for advisors from Warren Buffett.
500 Reasons to Eliminate the Income Cap for Social Security Taxes
In the first few days of 2023, at least 500 US workers will likely have already paid their Social Security taxes for the year.
What Could Go Wrong for the Federal Reserve in 2023
In some ways, the 2023 economic outlook for the US is locked in. The Federal Reserve’s goal is to push the rate of inflation back down to 2% over the next few years.
The Four Unique Risks in Decumulation
Relative to the accumulation phase, strategies that mitigate the unique risks faced by retirees in decumulation are less understood and researched. By identifying and illustrating those risks, planners can better prepare clients for retirement.
The Elderly Keep Accumulating Assets
Contrary to what financial theory predicts, new research from Europe shows that the elderly accumulate assets later in life than expected, likely because they want to leave bequests, are receiving pensions, or are reluctant to part with assets such as their homes.
New Retirement Rule Delaying Withdrawals Could Bite
Wealthy retirees seem to have scored big in Congress’ sweeping year-end spending package.
Distressed Investing Is Back. These Trades Are Defining the Game
Savvy investors seized tightening credit markets this year to reshape the distressed investing playing field just as more companies look destined for default in 2023.
Private Debt Funds Offer Attractive Yield
Private credit can be an attractive asset that has provided high yield and protection against the risks of rising inflation. In addition, the asset class has a strong credit history – specifically senior, secured, sponsored debt.
Look for a Slightly More Dovish Tilt to the Fed's Policy Group in 2023
The Federal Reserve’s policy makers are going to become incrementally more dovish in 2023, as a new roster of senior officials brings a greater focus on maximum employment to its policy-setting committee.
FTX Claims Lure Some Big Players in Distressed Market
The remains of Sam Bankman-Fried’s former empire FTX Group are drawing interest from some of the largest names in distressed investing, in a daredevil bet that heavily discounted creditor claims on the bankrupt cryptocurrency conglomerate will ultimately pay off.
Talking with Aging Parents about Health and Wealth
Here are nine tips that will help your family members stay healthy and financially secure as they age.
Themes From A Busy Year
The economics teams looks back at the most significant stories we covered during 2022.
Top Global Risks of 2023
Considering that a new year almost always brings surprises of one form or another, we've highlighted our top five that may define the global markets in 2023.
The Current Yield Curve Inversion, Explained
The Fed has massively inverted the yield curve. We explain why investors might be frontrunning themselves and why the long-term rate won’t budge.
Online Banks versus Traditional Banks: Which Is Best for Your Clients?
Here’s a breakdown of the pros and cons of trading in your traditional bank for a virtual banking experience.
Three Strategies to Strengthen Household Balance Sheets
I will use an example and an actuarial model to compare the efficiency of three strategies for strengthening a retired or near-retired client’s balance sheet under both a lower and a higher assumed future inflation scenario.
Did Rising Rates Cripple the Insurance Industry?
Rising interest rates was the dominant story in 2022. Did fixed income losses cripple insurance companies? Or has the insurance industry shifted the risk to your clients who purchased their products?
Ignition! Fusion Energy Comes Closer To Being A Reality, With Exciting Investment Opportunities
This important milestone is the culmination of decades’ worth of research and lots of trial and error, and it makes good on the hope that humanity will one day enjoy 100% clean and plentiful energy.
Starving for Yield? Check Out Money-Market Funds
If you think high-yield savings accounts offer juicy rates to park some cash, wait until you see what money-market funds are paying.
Top 50 Hedge Funds Outperform the Market by 28 percentage points through the first nine months of the year
Global Investment Report's 3Q Update of the 2022 hedge fund survey.
How an UTMA Compares to a 529 Plan
There are two types of tax-advantaged accounts for saving for college expenses: A Uniform Transfers to Minors Act (UTMA) account and a 529 Plan. While both plans have their differences and advantages, consider both as viable options.
U.S. Inflation Eased More Than Expected in November as Fed Eyes Pause in Rate‑Hike Cycle Next Year
Falling prices for cars and holiday discounting contributed to softer U.S. inflation, creating more room for the Fed to potentially dial back its hawkish stance.
529 Plans: Custodial versus Individual
One thing to consider when opening a 529 plan is whether it should be a custodial or individual account. While both allow you to save for college costs and enjoy some tax breaks, they differ in terms of who has control of the account and the assets in it.
Inflation Was So Bad That It Even Crushed Inflation-Linked Bonds
As the US economy veered toward the biggest inflation shock in four decades, investors flocked to the one corner of Wall Street that seemed a sure-fire refuge: Treasuries that provide extra compensation to keep up with rising consumer prices.
What to Expect in the Last Consumer Price Inflation Report of the Year, and What’s Ahead
The path of US inflation in 2023 may have more surprises in store after a year in which consumers suffered the biggest cost-of-living hit in 40 years, spurring steep interest-rate hikes by the Federal Reserve and spooking investors.
The Time to Define Insurance Advising is Now
“Verb sales” in retirement income, or in liability minimization, needs regulatory support immediately. By “verbs,” I mean selling services – such as financial planning – rather than “nouns” – such as investment products like annuities.
Russia Is Feeling the Pain of Europe’s Oil Embargo
A near-total ban on imports of Russian crude into the European Union is finally hitting Russia’s oil revenue. Concerns that it would provide the Kremlin with a windfall to fund its war in Ukraine have been confounded — for now.
A Respected Analyst Is Calling For $3,000 Gold Next Year. I Believe It Could Hit $4,000
Ole Hansen, respected commodity strategist at Denmark’s Saxo Bank, says it’s possible once markets realize that global inflation will remain hot despite monetary tightening. I believe, as I’ve said before, that gold could climb as high as $4,000.
Workers Have High Hopes for Pay Hikes Next Year. Perhaps Too High
The pay negotiation season is looking increasingly fraught this year as workers fret about 8% inflation — and their job security.
Fed Expected to Keep Peak Rates for Longer, Dashing Hopes for 2023 Cuts
The Federal Reserve is set to disappoint Wall Street as it keeps rates at their peak throughout 2023, dashing hopes markets have priced in for rate cuts in the second half and making a recession very likely.
Surging Heating Costs Squeeze Landlords and Threaten Higher Rents
From homeowners renting out spare rooms to publicly traded real estate investment trusts, landlords in colder areas of the US are bracing for their heating costs to soar this winter.
Top Money Managers See Global Stocks Gaining in 2023
Some of the world's biggest investors predict that stocks will see low double-digit gains next year, which would bring relief after global equities suffered their worst loss since 2008.
Newsletter Volume 15, No. 5
“95 years ago, your crystal ball reveals: Russian debt default, LTCM fail, DotCom implosion, 9/11 attacks, financial crisis and great recession, pandemic killing millions, 3 market crashes. Would you put your money into stocks? No? You missed a 10X return.”
What Really Matters?
In his latest memo, Howard Marks weaves together some of the themes he’s explored in 2022 to explain what he believes really matters in investing and what doesn’t. He discusses the disadvantages of short-term thinking, the difference between volatility and risk, and the one word he believes defines the essence of investment excellence.
We’ll All Pay for Uncle Sam’s Cheap Debt Fantasies
All the talk lately about the size of the national debt is obscuring the real problem: The US government made the wrong bet on interest rates, and that will cost taxpayers for years to come.
Flexible Work Helps Disabled Workers
Disabled workers are helping close the labor gap thanks to remote work.
India and Greater China: Exploring the Investment Opportunities
There’s enormous scope for India and Greater China to increase GDP per capita relative to the U.S. and other developed nations
Oil Slumps Further Below $80 as Broad Selloff Dents Markets
Oil fell the most in more than two weeks as broader equity markets collapsed and risk-averse investors pared crude positions ahead of the end of the year.