I’ve been writing about tariffs for a couple of months now, focusing mostly on the macroeconomic harm and the costs they impose on small businesses. Today I want to consider something else: the new risks they are adding to the financial system alongside the old risks.
In the report, Portfolio Managers Andy Acker and Dan Lyons say that despite growing policy uncertainty, plenty of healthcare companies have managed to put up big returns.
At Wednesday’s press conference, Chair Jay Powell signaled a wait-and-see approach, as the Fed keeps a close eye on inflation pressures and the job market.
The culture clash between Bitcoin enthusiasts and gold bugs is about to be played out in the world of exchange-traded funds.
Preparing for retirement involves more than finances and should include a focus on health, wellbeing and goals. Our Mike Dullaghan explains why it’s important to start preparing 10 years ahead of retirement.
In the week ending May 3rd, initial jobless claims were at a seasonally adjusted level of 228,000. This represents a decrease of 13,000 from the previous week's figure. The latest reading was lower than the forecast of 231,000.
Even though Warren Buffett is 94 and decades past the average retirement age, the end of his run as CEO of Berkshire Hathaway Inc. was always going to come as a shock.
Trend-following strategies can offer attractive, positively skewed returns, with large positive outperformance often coinciding with large equity selloffs, thereby offering tail protection.
Warren Buffett, the greatest investor of all time, will step down as chief executive officer of Berkshire Hathaway Inc. at the end of the year. The six-decade track record he leaves behind is so astonishing that mere numbers on a page don’t do it justice.
This article focuses on asset-based fees that cover both advice and investment-related costs, which is a model that I believe is best-suited for most individuals, as advisors can add value across multiple dimensions.
What does the ratio of unemployment claims to the civilian labor force tell us about where we are in the business cycle and recession risk?
Results from some of the Magnificent 7 names last week reignited the AI trade. Both Meta and Microsoft reported after-the-bell on Wednesday, blowing past analyst estimates
Now that Warren Buffett, the philosopher king of modern investing, has announced that he will step down as Berkshire Hathaway Inc.’s chief executive officer at the end of the year, it’s a good time to marvel again at his career.
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the April 2025 close.
The April U.S. Services Purchasing Managers' Index (PMI) from S&P Global came in at 50.8, below the 51.4 forecast. The reading marks the 27th consecutive month of expansion and the slowest growth since November 2023.
Warren Buffett is stepping down as chief executive officer of Berkshire Hathaway Inc., the company he built alongside his later partner Charlie Munger for the past six decades.
Warren Buffett picked the final minute of his 60th shareholder meeting to drop a long-awaited announcement that was still completely surprising for his fans, most of his board and even his successor.
In investing, success is often judged by numbers—returns on investment, percentage gains, and the ability to outperform benchmarks like the S&P 500. However, some investors frequently pursue a peculiar set of “awards” without realizing the pitfalls they embody.
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In April, total nonfarm payrolls increased by 177,000 while the unemployment rate remained at 4.2%.
In this article, Russ Koesterich discusses the ongoing uncertainty around tariffs and how investors can protect their portfolios against the potential for an environment of prolonged and heighted volatility.
Businesses may face challenges but there are also a number of tax-smart strategies that can help mitigate tax liability and enhance efficiency. Our Bill Cass discusses several tax-smart strategies to consider.
Morgan Stanley is working on a plan to add cryptocurrency trading to its E*Trade platform, in what would be the most significant move by a major US bank to help everyday customers buy into the asset class since the Trump administration began removing regulatory barriers.
Famous gold skeptic Warren Buffett is right about the dangers of inflation when it comes to non-producing assets, but he’s never been a fan of gold. Monetary Metals has transformed gold into a productive asset by generating a yield on gold, paid in gold, proving Buffett wrong about gold and giving investors new ways to own this timeless asset.
Stable value funds can offer capital preservation and stable returns. Our Mike Dullaghan explains the key role of stable value in long-term retirement savings.
Personal income (excluding transfer receipts) rose 0.6% in March and is up 3.7% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.7% month-over-month and up 1.4% year-over-year.
The National Association of Realtors® (NAR) pending home sales index rose more than expected in March, experiencing its largest monthly increase in over two years. The index came in at 76.5, a 6.1% jump from the previous month but a 0.6% decline from one year ago. Pending home sales were expected to rise 0.9% month-over-month.
As we have written…The Era of Easy Everything is ending. Part of this involves bringing inflation back to the Federal Reserve’s target of 2.0%. We could debate that number, but the Fed is getting closer.
The sole pursuit of shareholder value — i.e. of maximizing stock price — leads not to a focus on creating the greatest possible value for the firm’s customers, but to a focus on financial metrics and financial engineering.
With uncertainty rising and credit markets flashing early warning signs, RBA explains why now might be the time to sidestep risk—and where investors can still find attractive, high-quality returns in fixed income.
In this article, I will discuss another advantage of using the actuarial approach for retirement planning — helping your clients determine when they can afford to make big-ticket item purchases.
The “Sell America” trade that gripped markets this month has left a potentially lasting dent in investors’ willingness to hold the US government’s longest-maturity debt, a mainstay of its deficit-financing toolkit.
Google parent Alphabet Inc. reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.
Many retirees hold substantial assets in traditional IRAs and taxable brokerage accounts. When planning for retirement income and considering your legacy, Roth IRA conversions can be a strategic way to reduce your tax burden and maximize the wealth you pass on to your heirs.
Even with tariff uncertainty, there’s no stopping the engine of ETF creation. More than 288 new ETFs have already launched this year.
Existing home sales sank in March with their largest monthly decline since 2022. According to the National Association of Realtors (NAR), existing home sales fell 5.9% from February, hitting a seasonally adjusted annual rate of 4.02 million units in March.
President Trump has been a vocal admirer of China’s Great Wall, built by the country’s emperors to protect their territory from outside aggression. In his first term, he compared his plan to build a border wall with that historic structure.
Andrew Leigh is a very good storyteller, making “How Economics Explains the World” an easy and fun read. In the hands of someone unfamiliar with basic economic reasoning, it might lead them to pursue economics further. Even if you’re farther along in your economic education, we almost always benefit from relearning things we already know, but in a new light.
No matter what form of compensation you take, it is impossible to eliminate “conflicts” to the extent assumed by the proponents of a new fiduciary standard.
Back in 1980, fear persuaded me that gold was a sure thing. I forgot an essential caveat—there are no sure things in investing.
Less favorable seasonal technicals, increased focus on municipal-specific policy risks, and severe volatility spurred by higher-than-anticipated tariff increases weighed heavilyon sentiment and resulted in deeply negative total returns and significant underperformance versus Treasuries in March and early April.
Rapid U.S. policy changes pose challenges for investors accustomed to a global financial system anchored in U.S. markets and assets.
As homeowner insurance rates rise, advisors share ways individuals can create a financial safety net should catastrophe impact their homes.
Inflation affects everything from grocery bills to rent, making the Consumer Price Index one of the most closely watched economic indicators. What does inflation mean at the micro level — specifically to your household?
Builder confidence inched up in April thanks to a recent dip in mortgage rates however economic uncertainty stemming from tariff concerns kept sentiment negative for a 12th straight month. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose to 40 this month, up 1 point from March. The latest reading was above the 38 forecast.
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
The current market unrest over the potential for tariff increases and their impact is unpredictable. The volatility can be unnerving.
The "Connelly case "is more than just a legal precedent; it is a call to action for business owners to reevaluate their succession plans and take the necessary steps to protect their interests.
This month’s roller-coaster ride through the markets has been more frightening than exhilarating for many Americans, who have more than $44 trillion invested in retirement accounts.
Portfolio rebalancing helps advisors uncover a new investment plan of action that aligns with a client's long-term financial milestones. It also considers how the current market will impact asset diversification.
Last week’s data can be summarized by a volatile market reacting to tariff news and a backwards-looking inflation reprieve.
After starting the year on a high note with the S&P 500 index of U.S. Large Cap stocks posting an all-time high on February 19th, equities retreated during the second half of the quarter, officially falling into correction territory (down 10 percent) on March 13.
Spending cuts, tariffs and recession risk—Jan van Eck’s latest outlook breaks down what to watch and why he’s focused on gold, bitcoin, semiconductors and India.
JPMorgan Chase & Co.’s stock traders took in a record haul in the first quarter, boosted by chaotic market moves set off by President Donald Trump’s policy announcements after he took office in January.
Taxpayers plan to use their tax refunds for essentials and debt repayment, as well as savings strategies. Bill Cass shares ideas and strategies to consider this year.
Concerns about a trade war have rattled markets so far in 2025, but we believe fixed income investors need to be patient, stay defensive, and see how things evolve before making any big decisions.
US inflation cooled broadly in March, indicating some relief for consumers prior to widespread tariffs that risk contributing to price pressures.
Federal Reserve officials are prepared to hold their policy rate steady to minimize the risk that President Donald Trump’s tariffs trigger a persistent rise in inflation, even if the labor market softens further.
The month of March featured a varied mix of articles among Advisor Perspectives’ top 10 most-read list, including book reviews, analysis of current events and primers on different subjects among its ranks.
Inflation cooled for a second straight month in March, falling to its lowest level in over four years. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.4% year-over-year, lower than the expected 2.5% growth.
The fifth edition of our annual “Voice of the American Workplace” survey, conducted by The Harris Poll on behalf of Franklin Templeton, includes the perspectives of both employers and workers. The 2025 survey found US workers are prioritizing work-life balance and their mental health. Employers are listening and strengthening their focus on improving benefits and communication. In this piece, our Jacque Reardon shares findings from the survey and potential implications for employers.
Last week’s employment report offered what may be the last clear picture of the US job market before President Donald Trump’s tariff shock. Overall, it looked pretty healthy, with a 4.2% unemployment rate, 80.4% of the prime-age population employed and 1.9 million nonfarm payroll jobs added over the past 12 months.
When it’s finally completed seven years from now, Citadel LLC’s New York tower will be the second tallest building in the city, after the World Trade Center. It will also loom over the headquarters of JPMorgan Chase & Co. just a few hundred yards south along Park Avenue.
We’re adjusting our stance in response to rising risk while maintaining a disciplined view on long-term strategy.
We reexamine our macroeconomic outlook in light of newly announced tariffs, which have exceeded market expectations and prompted us to update our assumptions and analysis.
The world has entered a period of geopolitical uncertainty, with the U.S. now at the center of the storm.
When you discover your identity has been used in a pump-and-dump scheme on WhatsApp or other platforms, taking swift and decisive action is essential. This guide outlines the specific steps you should take to report the crime, protect your clients, and help authorities bring the perpetrators to justice.
In the current installment of The Roundup, Oaktree experts explore various investment risks and opportunities, including the heightened demand for mezzanine financing, potential entry points for special situations investors, the limited competition for unrated asset-backed finance investments, and the growing need for specialized life sciences lenders.
The substantial shift in U.S. trade policy will put a significant dent in growth in major markets.
Britain’s property-transaction tax, known as stamp duty, is set to rise sharply. Currently, first-time buyers pay no tax on properties worth up to £425,000 ($550,000). Starting next month, that threshold drops to £300,000, which will result in a charge of £6,250 on a £425,000 purchase.
Longtime Investor Alert readers have often seen me say that government policy is a precursor to change. What this means is that, when policymakers act—whether through subsidies, sanctions, tariffs or regulations—markets can sometimes respond swiftly and dramatically. We’re seeing that play out right now in real time, especially in the copper market.
From New York to London and Hong Kong, investors are cutting back risk ahead of next week’s tariff announcements, while keeping cash ready to pounce the moment opportunities arise.
How recent market volatility has contributed to a sharp reversal in global equities.
Portfolio Managers John Kerschner, Nick Childs, and Jessica Shill discuss the AAA CLO ETF landscape and highlight the most important considerations for investors.
While we sympathize with consumers who have had difficult interactions with the healthcare system, we believe that much of the antipathy toward health insurers is misplaced. Their role as middlemen is a vital and increasingly important one in a U.S. healthcare system that struggles to balance between the incentives of providers and consumers.
For taxable investors with sizable gains in their brokerage accounts, the decision when to realize that capital gain is intensely personal—depending of course on individual circumstances, while also factoring in market return expectations and the prevailing tax structure.
Changing market narratives in the third quarter led to ongoing market volatility.
I suspect many people yawned when the popular online brokerage Robinhood Markets Inc. announced it will offer sports and other prediction market derivatives, starting with betting on the NCAA March Madness basketball games.
Though you may not agree with my view on all seven of these terms, it may be beneficial for you and your clients to at least consider them.
It has been an interesting correction. The average retail investor was “buying the dip” despite having an extremely bearish outlook.
Banks’ businesses don’t change radically year to year so nor should their capital requirements.
Human stupidity is the one thing you can rely on in financial markets. I recently read a great piece by Joe Wiggins at Behavioral Investment, which discusses why “Investing is hard.”
Receiving an unexpected gift or inheritance is something that people may dream about. Our Bill Cass discusses some key considerations if that dream becomes reality and you do receive a financial windfall.
The Defined Outcome investment landscape is rapidly evolving, offering new opportunities for managing risk and return with greater precision.
The U.S. housing market has been a critical factor in the broader economic landscape, and its trends have profound implications.
Although annuities can offer a guaranteed income stream in retirement, they come with significant risks and complexities. It's essential to thoroughly understand these products and consider whether they align with your financial goals and risk tolerance.
Every so often we hear a theory that makes sense superficially but on closer examination doesn’t add up. The most recent one is that the Trump Administration wants a recession (or at least wouldn’t mind one) because interest rates would drop, making it easier to service the national debt.
Policies to support mainstream crypto adoption are underway.
On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recent developments in the trade war and the impact on markets. He also dug into the latest U.S. economic data and provided an update on investor sentiment.
VettaFi’s Head of Research Todd Rosenbluth discussed the Vanguard 0-3 Month Treasury Bill ETF (VBIL) on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”
An “insurance renaissance” is quietly reshaping a traditionally sleepy industry as a surge in annuities sales fuels demand for investment products with shorter duration and less liquidity, according to AllianceBernstein, an $806 billion asset manager owned by insurer Equitable.
Insurance & Annuities
Tension in the Sandpile
I’ve been writing about tariffs for a couple of months now, focusing mostly on the macroeconomic harm and the costs they impose on small businesses. Today I want to consider something else: the new risks they are adding to the financial system alongside the old risks.
A Gameplan for Healthcare Investing Amid Policy Uncertainty
In the report, Portfolio Managers Andy Acker and Dan Lyons say that despite growing policy uncertainty, plenty of healthcare companies have managed to put up big returns.
Increased Risks to Both Sides of the Dual Mandate
At Wednesday’s press conference, Chair Jay Powell signaled a wait-and-see approach, as the Fed keeps a close eye on inflation pressures and the job market.
Wall Street Brings the Bitcoin-Versus-Gold Clash to ETF Masses
The culture clash between Bitcoin enthusiasts and gold bugs is about to be played out in the world of exchange-traded funds.
The Home Stretch: Seven Essential Steps For Pre-retirees
Preparing for retirement involves more than finances and should include a focus on health, wellbeing and goals. Our Mike Dullaghan explains why it’s important to start preparing 10 years ahead of retirement.
Unemployment Claims Down 13K, Lower Than Expected
In the week ending May 3rd, initial jobless claims were at a seasonally adjusted level of 228,000. This represents a decrease of 13,000 from the previous week's figure. The latest reading was lower than the forecast of 231,000.
How Buffett Became the Accidental Model for Smart Succession
Even though Warren Buffett is 94 and decades past the average retirement age, the end of his run as CEO of Berkshire Hathaway Inc. was always going to come as a shock.
Walking the Tightrope: Trend Following’s Tricky Tradeoffs
Trend-following strategies can offer attractive, positively skewed returns, with large positive outperformance often coinciding with large equity selloffs, thereby offering tail protection.
Buffett’s Astonishing Track Record in Five Charts
Warren Buffett, the greatest investor of all time, will step down as chief executive officer of Berkshire Hathaway Inc. at the end of the year. The six-decade track record he leaves behind is so astonishing that mere numbers on a page don’t do it justice.
The Hidden Cost in Investing: Negative Compounding & the Opportunity Cost of Fees
This article focuses on asset-based fees that cover both advice and investment-related costs, which is a model that I believe is best-suited for most individuals, as advisors can add value across multiple dimensions.
Unemployment Claims and the CLF as a Recession Indicator: April 2025
What does the ratio of unemployment claims to the civilian labor force tell us about where we are in the business cycle and recession risk?
Big Tech Breathes Life into Q1 Earnings
Results from some of the Magnificent 7 names last week reignited the AI trade. Both Meta and Microsoft reported after-the-bell on Wednesday, blowing past analyst estimates
Warren Buffett, Investing’s Philosopher King
Now that Warren Buffett, the philosopher king of modern investing, has announced that he will step down as Berkshire Hathaway Inc.’s chief executive officer at the end of the year, it’s a good time to marvel again at his career.
The S&P 500, Dow and Nasdaq Since 2000 Highs as of April 2025
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the April 2025 close.
S&P Global Services PMI: Slowest Growth in 17 Months
The April U.S. Services Purchasing Managers' Index (PMI) from S&P Global came in at 50.8, below the 51.4 forecast. The reading marks the 27th consecutive month of expansion and the slowest growth since November 2023.
Warren Buffett Caps a Career Built on Humility
Warren Buffett is stepping down as chief executive officer of Berkshire Hathaway Inc., the company he built alongside his later partner Charlie Munger for the past six decades.
Buffett Hands Successor a Giant Cash Pile and Many Questions
Warren Buffett picked the final minute of his 60th shareholder meeting to drop a long-awaited announcement that was still completely surprising for his fans, most of his board and even his successor.
The Awards You Never Get When Investing
In investing, success is often judged by numbers—returns on investment, percentage gains, and the ability to outperform benchmarks like the S&P 500. However, some investors frequently pursue a peculiar set of “awards” without realizing the pitfalls they embody.
The Big Four Recession Indicators: April Employment
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In April, total nonfarm payrolls increased by 177,000 while the unemployment rate remained at 4.2%.
Aim to Keep Risk Modest and Quality High
In this article, Russ Koesterich discusses the ongoing uncertainty around tariffs and how investors can protect their portfolios against the potential for an environment of prolonged and heighted volatility.
Key Tax Planning Strategies for Business Owners
Businesses may face challenges but there are also a number of tax-smart strategies that can help mitigate tax liability and enhance efficiency. Our Bill Cass discusses several tax-smart strategies to consider.
Morgan Stanley Plans to Offer Crypto Trading to E*Trade Clients
Morgan Stanley is working on a plan to add cryptocurrency trading to its E*Trade platform, in what would be the most significant move by a major US bank to help everyday customers buy into the asset class since the Trump administration began removing regulatory barriers.
Warren Buffett Is Wrong About Gold
Famous gold skeptic Warren Buffett is right about the dangers of inflation when it comes to non-producing assets, but he’s never been a fan of gold. Monetary Metals has transformed gold into a productive asset by generating a yield on gold, paid in gold, proving Buffett wrong about gold and giving investors new ways to own this timeless asset.
Why Stable Value is Critical in Retirement Plan Menus
Stable value funds can offer capital preservation and stable returns. Our Mike Dullaghan explains the key role of stable value in long-term retirement savings.
The Big Four Recession Indicators: Real Personal Income Up 0.7% in March
Personal income (excluding transfer receipts) rose 0.6% in March and is up 3.7% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.7% month-over-month and up 1.4% year-over-year.
Pending Home Sales Jump 6.1% in March
The National Association of Realtors® (NAR) pending home sales index rose more than expected in March, experiencing its largest monthly increase in over two years. The index came in at 76.5, a 6.1% jump from the previous month but a 0.6% decline from one year ago. Pending home sales were expected to rise 0.9% month-over-month.
Don't Watch "Cash on the Sidelines"
As we have written…The Era of Easy Everything is ending. Part of this involves bringing inflation back to the Federal Reserve’s target of 2.0%. We could debate that number, but the Fed is getting closer.
The Finance Curse
The sole pursuit of shareholder value — i.e. of maximizing stock price — leads not to a focus on creating the greatest possible value for the firm’s customers, but to a focus on financial metrics and financial engineering.
When Certainty is Scarce...
With uncertainty rising and credit markets flashing early warning signs, RBA explains why now might be the time to sidestep risk—and where investors can still find attractive, high-quality returns in fixed income.
Advising a Retired Client Who Wants to Buy a Second Home (or Other Big-Ticket Item)
In this article, I will discuss another advantage of using the actuarial approach for retirement planning — helping your clients determine when they can afford to make big-ticket item purchases.
Treasury Market’s ‘New World Order’ Brings Fear of Long Bond
The “Sell America” trade that gripped markets this month has left a potentially lasting dent in investors’ willingness to hold the US government’s longest-maturity debt, a mainstay of its deficit-financing toolkit.
Alphabet’s Sales Beat Estimates on Google Search Ad Business
Google parent Alphabet Inc. reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.
Roth IRA Conversions in Retirement: How to Successfully Minimize Taxes & Maximize Wealth
Many retirees hold substantial assets in traditional IRAs and taxable brokerage accounts. When planning for retirement income and considering your legacy, Roth IRA conversions can be a strategic way to reduce your tax burden and maximize the wealth you pass on to your heirs.
ETF Market Booms: Record Launches & Sophisticated Strategies
Even with tariff uncertainty, there’s no stopping the engine of ETF creation. More than 288 new ETFs have already launched this year.
Existing Home Sales Sink 5.9% in March
Existing home sales sank in March with their largest monthly decline since 2022. According to the National Association of Realtors (NAR), existing home sales fell 5.9% from February, hitting a seasonally adjusted annual rate of 4.02 million units in March.
The Great Wall
President Trump has been a vocal admirer of China’s Great Wall, built by the country’s emperors to protect their territory from outside aggression. In his first term, he compared his plan to build a border wall with that historic structure.
Is Economics About Everything? A Review of ‘How Economics Explains the World'
Andrew Leigh is a very good storyteller, making “How Economics Explains the World” an easy and fun read. In the hands of someone unfamiliar with basic economic reasoning, it might lead them to pursue economics further. Even if you’re farther along in your economic education, we almost always benefit from relearning things we already know, but in a new light.
Separating ‘Fiduciary’ From ‘Compensation’
No matter what form of compensation you take, it is impossible to eliminate “conflicts” to the extent assumed by the proponents of a new fiduciary standard.
Protect Yourself From Fear-Based Gold Fever
Back in 1980, fear persuaded me that gold was a sure thing. I forgot an essential caveat—there are no sure things in investing.
2025 Muni Outlook: Stay Invested and Remain Nimble
Less favorable seasonal technicals, increased focus on municipal-specific policy risks, and severe volatility spurred by higher-than-anticipated tariff increases weighed heavily
on sentiment and resulted in deeply negative total returns and significant underperformance versus Treasuries in March and early April.
Trade Wars and the U.S. Dollar
Rapid U.S. policy changes pose challenges for investors accustomed to a global financial system anchored in U.S. markets and assets.
Advisors Share Solutions for Rising Homeowner Insurance Costs
As homeowner insurance rates rise, advisors share ways individuals can create a financial safety net should catastrophe impact their homes.
Inside the Consumer Price Index: March 2025
Inflation affects everything from grocery bills to rent, making the Consumer Price Index one of the most closely watched economic indicators. What does inflation mean at the micro level — specifically to your household?
NAHB Housing Market Index: Uncertainty Continues to Weigh on Builder Confidence
Builder confidence inched up in April thanks to a recent dip in mortgage rates however economic uncertainty stemming from tariff concerns kept sentiment negative for a 12th straight month. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose to 40 this month, up 1 point from March. The latest reading was above the 38 forecast.
Inside the Consumer Price Index: March 2025
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Risk Management Amid Economic Uncertainty
The current market unrest over the potential for tariff increases and their impact is unpredictable. The volatility can be unnerving.
The Connelly Case Is a Wake-Up Call for Business Owners
The "Connelly case "is more than just a legal precedent; it is a call to action for business owners to reevaluate their succession plans and take the necessary steps to protect their interests.
Social Security Is Protection From Volatility
This month’s roller-coaster ride through the markets has been more frightening than exhilarating for many Americans, who have more than $44 trillion invested in retirement accounts.
How Advisors Can Assist Clients in Rebalancing Their Portfolio Over Time
Portfolio rebalancing helps advisors uncover a new investment plan of action that aligns with a client's long-term financial milestones. It also considers how the current market will impact asset diversification.
Weekly Economic Snapshot: Tariff Swings, Inflation Relief in the Rearview, & Sinking Sentiment
Last week’s data can be summarized by a volatile market reacting to tariff news and a backwards-looking inflation reprieve.
Tariffs Add Another Challenge for Investors to Consider
After starting the year on a high note with the S&P 500 index of U.S. Large Cap stocks posting an all-time high on February 19th, equities retreated during the second half of the quarter, officially falling into correction territory (down 10 percent) on March 13.
Q2 2025 Outlook: In the Middle of the 3% Reckoning
Spending cuts, tariffs and recession risk—Jan van Eck’s latest outlook breaks down what to watch and why he’s focused on gold, bitcoin, semiconductors and India.
JPMorgan Stock Traders Notch Record Revenue on Market Chaos
JPMorgan Chase & Co.’s stock traders took in a record haul in the first quarter, boosted by chaotic market moves set off by President Donald Trump’s policy announcements after he took office in January.
Putting Your Tax Refund to Work
Taxpayers plan to use their tax refunds for essentials and debt repayment, as well as savings strategies. Bill Cass shares ideas and strategies to consider this year.
Strategic Income Outlook: Magic 8-Ball Says, “Ask Again Later"
Concerns about a trade war have rattled markets so far in 2025, but we believe fixed income investors need to be patient, stay defensive, and see how things evolve before making any big decisions.
US Inflation Unexpectedly Slows Down Ahead of Tariffs Impact
US inflation cooled broadly in March, indicating some relief for consumers prior to widespread tariffs that risk contributing to price pressures.
Fed Leans Against Inflation and Away From Preemptive Rate Cuts
Federal Reserve officials are prepared to hold their policy rate steady to minimize the risk that President Donald Trump’s tariffs trigger a persistent rise in inflation, even if the labor market softens further.
March 2025’s Most-Read Articles Offer Something for Everyone
The month of March featured a varied mix of articles among Advisor Perspectives’ top 10 most-read list, including book reviews, analysis of current events and primers on different subjects among its ranks.
Consumer Price Index: Inflation Cools to 2.4% in March
Inflation cooled for a second straight month in March, falling to its lowest level in over four years. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.4% year-over-year, lower than the expected 2.5% growth.
Aligning for Success: From Conflict to Consensus
The fifth edition of our annual “Voice of the American Workplace” survey, conducted by The Harris Poll on behalf of Franklin Templeton, includes the perspectives of both employers and workers. The 2025 survey found US workers are prioritizing work-life balance and their mental health. Employers are listening and strengthening their focus on improving benefits and communication. In this piece, our Jacque Reardon shares findings from the survey and potential implications for employers.
Tariffs or Not, Health Care Is Where the Jobs Are
Last week’s employment report offered what may be the last clear picture of the US job market before President Donald Trump’s tariff shock. Overall, it looked pretty healthy, with a 4.2% unemployment rate, 80.4% of the prime-age population employed and 1.9 million nonfarm payroll jobs added over the past 12 months.
Shadow Banks Are Too Big to Stay in the Shadows
When it’s finally completed seven years from now, Citadel LLC’s New York tower will be the second tallest building in the city, after the World Trade Center. It will also loom over the headquarters of JPMorgan Chase & Co. just a few hundred yards south along Park Avenue.
Recalibrating for Higher Risk Without Overcorrecting
We’re adjusting our stance in response to rising risk while maintaining a disciplined view on long-term strategy.
The Price of Protectionism - Tariffs Toll On Growth
We reexamine our macroeconomic outlook in light of newly announced tariffs, which have exceeded market expectations and prompted us to update our assumptions and analysis.
Seeking Stability
The world has entered a period of geopolitical uncertainty, with the U.S. now at the center of the storm.
Responding to Digital Identity Theft: A Guide for Financial Advisors
When you discover your identity has been used in a pump-and-dump scheme on WhatsApp or other platforms, taking swift and decisive action is essential. This guide outlines the specific steps you should take to report the crime, protect your clients, and help authorities bring the perpetrators to justice.
Top Takeaways from Oaktree’s Quarterly Letters – March 2025 Edition
In the current installment of The Roundup, Oaktree experts explore various investment risks and opportunities, including the heightened demand for mezzanine financing, potential entry points for special situations investors, the limited competition for unrated asset-backed finance investments, and the growing need for specialized life sciences lenders.
Believe It or Not
The substantial shift in U.S. trade policy will put a significant dent in growth in major markets.
Don't Rush to Buy in Britain's Broken Property Market
Britain’s property-transaction tax, known as stamp duty, is set to rise sharply. Currently, first-time buyers pay no tax on properties worth up to £425,000 ($550,000). Starting next month, that threshold drops to £300,000, which will result in a charge of £6,250 on a £425,000 purchase.
Copper and Gold Soar as Trump’s Trade War Reshapes Global Markets
Longtime Investor Alert readers have often seen me say that government policy is a precursor to change. What this means is that, when policymakers act—whether through subsidies, sanctions, tariffs or regulations—markets can sometimes respond swiftly and dramatically. We’re seeing that play out right now in real time, especially in the copper market.
Macro Traders From New York to Hong Kong Prep for Tariff Day
From New York to London and Hong Kong, investors are cutting back risk ahead of next week’s tariff announcements, while keeping cash ready to pounce the moment opportunities arise.
Volatility Brings Changes to Market Leadership
How recent market volatility has contributed to a sharp reversal in global equities.
The Art and Science of Managing AAA CLO Portfolios
Portfolio Managers John Kerschner, Nick Childs, and Jessica Shill discuss the AAA CLO ETF landscape and highlight the most important considerations for investors.
Don’t Blame the Middleman
While we sympathize with consumers who have had difficult interactions with the healthcare system, we believe that much of the antipathy toward health insurers is misplaced. Their role as middlemen is a vital and increasingly important one in a U.S. healthcare system that struggles to balance between the incentives of providers and consumers.
Tax Managed Investing: Deciding When to Realize Capital Gains
For taxable investors with sizable gains in their brokerage accounts, the decision when to realize that capital gain is intensely personal—depending of course on individual circumstances, while also factoring in market return expectations and the prevailing tax structure.
Navigating Volatility Using Options
Changing market narratives in the third quarter led to ongoing market volatility.
Gambling Is No Longer Investing’s Evil Twin
I suspect many people yawned when the popular online brokerage Robinhood Markets Inc. announced it will offer sports and other prediction market derivatives, starting with betting on the NCAA March Madness basketball games.
7 Financial Terms Advisors Often Misunderstand
Though you may not agree with my view on all seven of these terms, it may be beneficial for you and your clients to at least consider them.
Retail Investor Buys The Dip Despite Bearish Sentiment
It has been an interesting correction. The average retail investor was “buying the dip” despite having an extremely bearish outlook.
US Banking Rule Reform Is Too Important to Rush
Banks’ businesses don’t change radically year to year so nor should their capital requirements.
Stupidity And The 5-Laws Not To Follow
Human stupidity is the one thing you can rely on in financial markets. I recently read a great piece by Joe Wiggins at Behavioral Investment, which discusses why “Investing is hard.”
Your Ship Finally Came In. Now What?
Receiving an unexpected gift or inheritance is something that people may dream about. Our Bill Cass discusses some key considerations if that dream becomes reality and you do receive a financial windfall.
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.
The U.S. Housing Market: Risks, Realities, and the Road Ahead
The U.S. housing market has been a critical factor in the broader economic landscape, and its trends have profound implications.
Are Annuities Right for Retirement?
Although annuities can offer a guaranteed income stream in retirement, they come with significant risks and complexities. It's essential to thoroughly understand these products and consider whether they align with your financial goals and risk tolerance.
A Recession Wouldn't Help the Budget
Every so often we hear a theory that makes sense superficially but on closer examination doesn’t add up. The most recent one is that the Trump Administration wants a recession (or at least wouldn’t mind one) because interest rates would drop, making it easier to service the national debt.
Spreading Stablecoins
Policies to support mainstream crypto adoption are underway.
Volatility Returns With a Vengeance
On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recent developments in the trade war and the impact on markets. He also dug into the latest U.S. economic data and provided an update on investor sentiment.
Vanguard 0-3 Month Treasury Bill ETF (VBIL)
VettaFi’s Head of Research Todd Rosenbluth discussed the Vanguard 0-3 Month Treasury Bill ETF (VBIL) on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”
An ‘Insurance Renaissance’ Is Fueling Private Credit Surge, Says AllianceBernstein
An “insurance renaissance” is quietly reshaping a traditionally sleepy industry as a surge in annuities sales fuels demand for investment products with shorter duration and less liquidity, according to AllianceBernstein, an $806 billion asset manager owned by insurer Equitable.