Diversity & Inclusion

In the region that ushered in the world’s first green bond, banks are now building private databases to help their clients navigate the dark side of ESG.

Companies with a higher presence of female executives have historically rewarded their equity investors with better performance, the firm says.

Gun sales in the US have gone through the roof in 2020, especially since the widespread protests turned violent last spring in many large cities across the US. Over three million more guns have been sold since March than occurred in the same period a year ago.

In his latest memo, Howard Marks walks readers through the unusual characteristics of this year’s economy; the impact of Covid-related monetary and fiscal policy actions, including low interest rates, on today’s markets; and the possible ramifications of the Fed/Treasury’s rescue efforts. What does it all mean for investors who face an environment marked by some of the lowest prospective returns in history?

Asset managers that had been longtime ETF holdouts -- including Wells Fargo, Federated Investors and Dimensional Fund Advisors -- are finally diving in.

Flows into U.S. fixed-income products this year have surpassed the total for all of last year.

Noise levels are likely to remain elevated in the run-up to – and possibly in the immediate aftermath of the upcoming US presidential election, but the post-election outlook should prove positive for EM assets by ushering in a period of more positive risk-sentiment, a long period of low US rates and a lower Dollar.

The sooner we act, the sooner the power of compound investing can start changing the math for those who are currently destined to miss out on a fair and livable retirement.

To some critics, Trump’s behavior and decision-making process may seem erratic, but I believe they make a sort of sense when viewed through the lens of game theory.

The environment is one of many sets of regulations under consideration.

The economy is at a crossroads and this commentary addresses why it’s critical to acknowledge the risks, as well as providing some specifics on how to deal with those uncertainties.

We believe now is as good a time as any to do a portfolio assessment. Here’s why investors and their advisors shouldn’t lose sight of how diversification and taxes affect portfolio returns.

The beat went on in the third quarter as growth stocks once again shone, propelling the S&P 500 to a 9% gain. The market continues to be narrow, with the index being carried by a relatively small number of companies. While the index is up this year, the average stock is down. This is generally considered to be unhealthy.

Take a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite since 2000. We've updated this through the September 30, 2020 close

Given elements of uncertainty tied to COVID-19, geopolitics and policy decisions to come in the United States and across the globe, our K2 Advisors team believes the current environment may favor nimble, shorter-term strategies.

With COVID-19 cases rising and policy support fading, the recovery faces many risks.

The pandemic has amplified four long-term macroeconomic disruptors, and fiscal policy – a key swing factor – may hold the key to upside or downside surprises. Read our long-term outlook and learn implications to consider when investing.

Wilmington Trust, the wealth-management arm of M&T Bank Corp., is extending its hiring spree and considering acquisitions of RIAs.

There are nine reasons Trump may still win, but none seem likely.

She is taking a number of steps to position herself more defensively.

The U.S. economy improved significantly this quarter, but investors continue to face several serious risks. In late September, confirmed COVID-19 cases were rising worldwide, and the pandemic may intensify as winter approaches. A combative U.S. presidential election looms.

If we do a good job of investing in high-quality companies with the potential for strong, long-duration earnings growth, we think starting valuations will matter less in generating attractive long-term performance. When we invest in a company with a high P/E ratio today, we don’t do so with the expectation the ratio will stay high indefinitely.

We have a modest economic calendar including the ISM non-manufacturing index, JOLTS, jobless claims data, and the NFIB index. The Fed minutes from September’s meeting will be released. The Vice-Presidential debate is set for Wednesday.

With investors already on edge regarding election uncertainty, an “October surprise” arrives yet again. Can history provide some guidance on how elections impact markets?

Rick Rieder and team highlight the critical facts that will drive the markets in the year ahead, as well as the myths that could mislead investors.

Can bonds continue to play defense and provide income when yields are at historic lows? We think so.

Despite stellar equity returns over the last decade, the funded status for many defined-benefit plan sponsors has either stagnated or fallen. Here's why.

Sports betting and financial markets have a lot in common. The wisdom of the crowd is setting prices and the markets are highly efficient, making it difficult to outperform.

Key Takeaways

• Voters may focus on COVID-19 concerns instead of economic
• Digital platforms may be used to capture new voters
• Congress may be closer to a stimulus compromise

Equity markets advanced in the third quarter but pulled back during September. Market moves were dominated by a small group of giant US stocks. How should investors react?

Given the United States is the world’s largest economy, investors around the globe will be watching the US presidential race—and market implications—with keen interest.

Investors should try to avoid getting distracted by the feuding political parties within the U.S. A lot of the infighting is being fueled by outside actors, who thrive on the chaos and the division. Russia’s Putin and China’s Xi Jinping are delighted that we’re so divided right now.

As high-tax states like California, New Jersey and New York contemplate spending less or taxing even more, the backlash is growing.

Guiding Defined Contribution (DC) plans through economic cycles is challenging enough without harsh headwinds from a global health crisis. But more plan sponsors are getting invaluable expert help to navigate through current challenges while keeping a long-term perspective.

The fastest, most economically destructive recession is now in investors’ rearview mirrors. CIO Larry Adam shares his perspective on the unfolding recovery.

We believe paying taxes is a scenario where kicking the can down the road can actually be a good thing for taxable investors. Here’s why.

Personal Income (excluding Transfer Receipts) in August rose 1.20% and is down 1.0% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, Real Personal Income (excluding Transfer Receipts) MoM was up 0.88%. The real number is down 2.3% year-over-year.

They are considering leaving the workforce or scaling back on their career aspirations because of the extra demands created by the Covid-19 pandemic.

Is there any other business on earth where an owner can be as incompetent as Fred Wilpon and come away richer than ever?

We have recently been discussing the lack of performance in value versus growth. Such is historically the case during the late-stage, exuberance-driven, bull markets. However, not everything classified as a “value stock” is necessarily a value. The problem today, more so than at any point previously, is the astonishing lack of value in “value.”

It's a new cycle for the economy, but some asset classes look decidedly late cycle in terms of valuation. What might this mean for markets through the remainder of the year?

Its analysts include a former cancer researcher, artificial intelligence expert, gaming engineer -- even sailboat captain.

The first of three presidential debates is set for the evening of September 29. The topics, chosen by the Chris Wallace, the moderator, will be the Trump and Biden records, the Supreme Court, COVID-19, the economy, racial tensions, and election integrity.

A basket of emerging market bonds may offer the same appeal investors have long sought from U.S. Treasuries.

Even as markets were rocked by uncertainty as the coronavirus lockdowns began, the seeds of stability were sown in the massive fiscal and monetary policy response.

Investors, especially those with limited experience, are declaring that value is dead. Those who act on that belief will suffer at the hands of Mr. Market.

Ultra-low interest rates and a flood of private equity dollars seeking a decent return have driven the valuations paid in the M&A market to crazy levels, according to two of the most prominent acquirers.

You may have seen headlines questioning whether this is the end of the gold rally. Hardly. Corrections are normal and healthy. During the rally of the 2000s that culminated in gold hitting its previous record high of $1,900, there were several significant pullbacks, some of them exceeding 20 percent.

Our election 2020 coverage begins with fiscal policy, security risks that are slowing foreign investment, and legislative standstills.

Today is National Family Health and Fitness Day! The COVID-19 outbreak undoubtedly brought our health and the health of our loved ones to the forefront of our minds, and with many states closing fitness centers in the initial stages of the lockdowns, the virus certainly challenged our traditional methods for exercise too.

Our election 2020 coverage begins with fiscal policy, security risks that are slowing foreign investment, and legislative standstills.

As the likelihood of additional federal stimulus fades, U.S. stock investors are returning their focus to the coronavirus pandemic and not liking what they see.

Democrats could sweep the November elections according to many independent polls and political experts. What would that mean for the healthcare and pharmaceutical sectors, which have shown sensitivity to the political landscape?

Investors don’t often pay much attention to corporate culture. But cultural norms can make the difference between success and failure, especially for growth companies.

For at least a generation, conservatives have cared about the courts a lot more than liberals have.

Imagine if you could show your clients the impact of taxes between funds and categories. Now you can. Here’s an exclusive first look at our Tax Impact Comparison Tool.

Investors are eager to buy bonds that help create a better, more sustainable world. Here’s how to navigate the evolving landscape.

More than half the racial gap in individual stock ownership has disappeared essentially overnight.

When it comes to thinking about opportunities and risks in emerging markets (EM), old habits die hard. Investors and news articles tend to treat EM like one homogenous opportunity set, glossing over the range of underlying asset classes, regions, countries and currencies—each with distinct characteristics.

We have a light economic calendar with important data on home sales, jobless claims, and durable goods orders. None of these is likely to stimulate higher heartbeats. I expect politics and the election to get plenty of attention in the financial media, especially with an open Supreme Court seat as a new issue.

Investors underestimate the negative consequences of high environmental, social and governance (ESG) risks, and underreact to prior negative ESG events. High ESG risks destroy shareholder value.

What are the lessons that can be learned from observing the Chinese economy and U.S.–China relations? Sinology explores the takeaways from five topics including China’s approach to controlling COVID-19, its economic recovery and Washington’s misguided approach towards China.

The facilities will bring products closer to customers, making shopping online about as fast as a quick run to the store.

Your social network may be an untapped and robust source for uncovering prospects. While you may be suffering from COVID-19 fatigue, we believe prospecting and having introductory conversations about the services you provide could be one of the best uses of your time.

Adding intangible assets to book value provides a more robust measure of firm capital. But, just as a home buyer considers a host of variables when evaluating the price of a new house, we prefer to use multiple metrics, not book value alone, to get the most complete picture possible of a firm’s valuation.

Ed Perks and Gene Podkaminer of Franklin Templeton’s Multi-Asset Solutions team discuss the attractions of alternative assets that can offer natural portfolio diversification. Over a longer-term horizon, they continue to believe global stocks have greater performance potential than global bonds, or alternatives, but this outlook will not be reached along a smooth path.

Overall, EM IG bonds represent a great opportunity for investors seeking to monetise the EM risk premium with moderate volatility in a world, where higher yielding IG-rated securities are increasingly difficult to come by.

Review the latest Weekly Headings by CIO Larry Adam.

There are opportunities for investors to monetize market volatility while also hedging credit risk to enhance returns and reduce correlation through a tactical approach using alternative, multi-asset strategies.

New research disproves a pearl of conventional wisdom – that a move to a democratic form of government is good for investors in that country.

It’s open season on capital gains. Four ways advisors can help clients navigate potential unpleasant taxable distributions.

With the COVID-19 crisis far from over, we expect increased policy stability in the U.S. next year, no matter who wins in November.

It certainly feels different this time. Acknowledging that difference will enhance relationships with your clients.

Passive bond funds – particular those that track the popular Barclay’s AGG index – offer the worst risk-return profile ever, according to Jeffrey Gundlach’s DoubleLine Capital.

Seven reasons Americans are “nowhere near as alienated from their democratic system” as Germans in the 1920s.