Over three decades on Wall Street, Jim Covello has learned how painful it can be to bet against an inflating tech stock bubble. The market has a way of minting riches, month after month, even after it’s clear the latest breakthroughs aren’t playing out quite as expected.
Taiwan Semiconductor Manufacturing Co. lifted projections for 2024 revenue growth after quarterly results beat estimates, reflecting its confidence in the longevity of the global AI spending boom.
Blackstone Inc.’s real estate arm weighed on the investment giant’s second-quarter results, as high interest rates crimped property valuations and investors pumped less money into the business.
At some of the world’s biggest asset managers, ESG fund launches are quietly stalling.
The barbarians are back at the gates. Morgan Stanley and Goldman Sachs Group Inc. are confident that their most important clients are about to get active after a long spell on the sidelines and help goose the long-awaited revival in investment banking fees.
Back in 2021, legions of critics lambasted the Federal Reserve for failing to take proactive and forward-looking steps against the emerging inflation threat. Curiously, many of them have gone silent on the risk that the Fed might get caught flatfooted again, this time by failing to cut interest rates soon enough in the face of weaker inflation and a cooling labor market.
The strong level of belief investors have in the Fed to assure positive market outcomes is belied by the diminishing room it has to maneuver policy. When this becomes obvious, an important market support will be removed.
The dilemma that all Fed committees and chairpersons face when the economic cycle nears a turn but then repeats itself can be summed up with Fed chair Jerome Powell’s recent references: “Easing too soon, too much could harm inflation progress.” “Easing too little, too late could unduly weaken the economy.”
It’s earnings season yet again. And I think this one is going to be more down-to-earth than the ones we’ve had over the past year.
It's important to understand the true meaning behind the names of investment funds, especially when it comes to those labeled "tax-managed"
The Federal Reserve is in the pilot’s seat as the American economy approaches a soft landing. The runway is in sight, but some careful maneuvering will still be needed.
Elections have been anything but easy for investors. What has been easy is financial conditions in the US relative to the level of policy rates, fostering the debate over the degree of policy restrictiveness as global monetary easing begins.
A transition to alternative energy is helping to fuel a 4th industrial revolution. In turn, this will increase critical minerals demand.
There has long been talk of a new wave of biotech mergers and acquisitions activity coming to life.
It’s high time you captured your share of the high-net-worth market. There is no doubt that high-net-worth clients have unique needs and expectations when it comes to wealth management. You can be the advisor that fills the gap for them. Stake your claim and grow your business by delivering on their expectations.
With numerous question marks heading into the year, 2024 appears to have shown surprising resilience. Has the Fed truly stuck the soft landing? Is AI still in the early innings? Is the labor market back to normal?
Join the experts at State Street Global Advisors, Horizon Investments, and GLOBALT Investments for a wide-ranging webcast that will unpack what investors can expect in the second half of 2024.
GMO has posted a new 7-Year Asset Class Forecast.
Artificial intelligence and generative AI remain the proverbial hype trains of thematic investing this year.
Advisor Perspectives, a leading publisher and ranked as the #1 eNewsletter for financial advisors by the Erdos & Morgan “FAMOUS” Study (2019-2023) has announced its Venerated Voices™ awards for commentaries published in Q2 2024.
Longer duration Treasuries have been mired in a bear market since 2020 but could finally start to see a reversal of fortune.
It’s taboo in many cultures to admit you might want to have a life outside of your work, so a lot of people keep it to themselves because they don’t want to be seen as weak, or uncommitted.
In this episode of Dear Ficomm, I help a financial advisor in New York elevate his website’s flow through better CTAs and word choice.
The myth of work-life balance has perpetuated unrealistic expectations and unnecessary stress. By recognizing the fluidity of life and embracing a more flexible approach, you can find greater fulfillment and mental well-being.
Jane Edmondson, Head of Thematic Strategy for VettaFi interviews MUSQ Founder and CEO David Schulhof about the Index behind the MUSQ ETF, providing pure-play exposure to the global music industry.
Wall Street is looking beyond the obvious megacap stocks to find the next leg of the artificial intelligence trade.
Tesla Inc. forming an autonomous taxi platform will be the catalyst for a roughly 10-fold increase in its share price, Ark Investment Management LLC’s Cathie Wood said, echoing years of bullish predictions about a business the carmaker has yet to stand up.
At Institutional Investor, keeper of Wall Street’s version of the Oscars for financial analysts, the winner in one category this year is — nobody.
Goldman Sachs Group Inc. and Wells Fargo & Co. joined rival JPMorgan Chase & Co. in the tapping the US investment-grade market after reporting second-quarter earnings.
A growing number of Wall Street economists are cautioning the Federal Reserve is waiting too long to reverse course after raising interest rates to a two-decade high.
This week marks the official start to 2Q24 earnings season, with the big banks among the first to report. While much of the last six weeks has been dominated by the softening macro backdrop, the S&P 500 looked past the weakening data – notching 37 record closes already this year.
Diverse stakeholders shared perspectives at AB’s Advancing Retirement Income symposium.
The lags between a shift in monetary policy and the economic impact are long and variable. While the actions of the Federal Reserve during the pandemic were unprecedented, it finally looks like the excess money pumped into the economy has worked its way through the system. And with the M2 measure of the money supply down from its peak, the economy is reacting.
Some state that “bears are like a ‘broken clock,’ they are right twice a day.” While it may seem true during a rising bull market, the reality is that both “bulls” and “bears” are owned by the “broken clock syndrome.”
The assassination attempt against former President Trump gave a bump to his odds of becoming president, as they rose from 60% to 67% on Monday morning on Predictit.org.
Outlook 2024: A Turning Point, released in December 2023, featured our perspective on how stocks might respond to turning points in inflation and monetary policy.
The initiation of the excessive deficit procedure will hinder European unity.
To better help their clients, advisors must understand the landscape of options-based ETFs. Many investors are seeking high monthly income, but some options funds can erode principal or come with less tax efficiency.
Join the experts at NEOS Investments for a free educational webcast that explores the world of options-based ETFs and how they can best be leveraged for client success.
Since carriers are still digesting and figuring out how they want to cover DA, investment advisors should focus on working with a broker who understands this space. What was true six months ago, can easily be different now and in further down the road.
I thought I knew a lot about travel insurance until recently, when I learned something new. It was an expensive lesson.
Leveraging essential tools will energize teams, streamline operations, and drive growth. Financial advisors should actively promote education, training, networking, and personal development to foster a net wealth-supporting environment.
In short, your prospect isn’t looking for a relationship, they’re looking for someone to solve their problem. As a result, trying to build a relationship pre-sale invites the two-pronged consequence of having them doubt your motives and then reject your plan.
Broad measures of investment-grade municipal bonds didn’t do much of anything in the first half of 2024, but some believe it could be poised for some upside.
The case for beginning to recalibrate rates in the S. is on a winning streak for getting stronger with each data print
Credit markets are breathing a sigh of relief after inflation data showed price pressures are cooling broadly, but a weakening economy poses fresh risks to corporate debt.
Goldman Sachs Group Inc. and Wells Fargo & Co. are joining rival JPMorgan Chase & Co. in the tapping the US investment-grade bond market after reporting second-quarter earnings.
Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright.
It’s been clear since the fall of 2022 that the housing market needed lower interest rates to fix many of its problems including a lack of affordability for buyers, the mortgage rate lock-in dynamic for homeowners, and reduced activity for companies ranging from Home Depot Inc. and Lowe’s Cos. to suppliers of building materials.
Big tech companies have brought the 21st century some of its greatest innovations. Amazon.com Inc., Google search, Apple Inc.’s iPhone and other digital products have made people’s lives immensely more convenient and productive — a consumer benefit worth, by one estimate, more than $2.5 trillion a year. They deservedly dominate their respective markets.
A young colleague came to me recently with a shameful admission: Despite the lecturing of her friends and family, as well as her own best intentions, she had not yet signed up for the company 401(k) plan. She lives in an expensive city and is nervous about tying up her money for the next 40 or 50 years.
A second straight month of encouraging U.S. core CPI data supports an initial Federal Reserve rate cut as early as September.
