Insights

The Rasputin Effect: Global resilience to higher rates

Explaining global economic and equity market resilience.

Equities are back up. Learn how you can maximize your…

If you’re thinking about rebuilding your equity exposure, now may be an opportune time. But be sure to take the most…

Is this the last hike?

In this week’s note we examine the data that could influence the Fed’s path from here, and assess the investment implications a…

Alternatives in a challenging market

We see a number of contrarian opportunities through private investments across equity, credit and real estate.

Artificial intelligence

A.I. has the potential to redefine how we approach daily tasks by increasing efficiency and improving utility and engagement.

Simple and effective: 3 ways to save on U.S. taxes

Have the right types of accounts. Match asset and account types well. Withdraw funds from different accounts in the right order.

Invest in global infrastructure to hedge and help build a…

Infrastructure has the potential to provide inflation protection, income and resilience in uncertain times.

Where are the opportunities amid the U.S. earnings season?

In this week’s Asia Strategy Weekly, we turn our focus to the U.S. equity market.

Investors shouldn’t be surprised if these 3 things happen…

Prepare yourself for a possible all-time S&P 500 high*, global manufacturing rebound and U.S. election static.

Mr. Toad's Wild Ride: The impact of underperforming 2020…

The impact of underperforming 2020 and 2021 US IPOs.

Investing in a changed world of shortages and oversupply

To make sense of elevated interest rates, rolling recessions, supply issues and a tech revolution, you may need to apply a new…

Equity outlook

We think the worst of the bear market in U.S. equities is likely over. Recession or no recession, we don’t think the market wil…

De-dollarization and the FX outlook

The idea of de-dollarization has been gaining traction recently, but we do not think the dollar is going away anytime soon.

Are you putting your cash to work?

Yield for liquid investments is higher—and may help soften the bite inflation can take out of your assets.

Recession Versus Soft Landing

Many banks are still calling for a recession but markets have rallied and the U.S. economy has remained strong. Where do we…

China’s macro outlook

While we are optimistic on China’s consumption recovery, our growth outlook for China is below consensus.

3 actions to help optimize your portfolio in today’s…

Increase your liquidity’s potential to generate greater returns. Put the right assets in the right types of accounts. And…

Can Japan continue rallying?

Japan’s impressive equity market rally this year has caught markets by surprise. Positive headlines and the participation of…

Where does China’s recovery go from here?

In today’s note, we take stock of China’s recovery so far and examine the paths it can take from here.

Why passive investing may not be enough—and how to do more

Exchange-traded funds are popular. But a tax-managed separately managed account may serve you better

The energy transition is ramping up. Investors should tak…

The U.S. government is supercharging clean energy spending and some sectors may see increased profitability. Here are a few…

Letters to the Editor

Letters to the Editor. To start, some comments on mega-cap stocks and artificial intelligence during the narrowest market…

The opportunity in renewed U.S. industrial policy

In the wake of globalization’s grim consequences, three new laws seek to reindustrialize the heartland.

Where are the investment opportunities in AI?

This week’s note assesses the potential economic impact of AI, and takes an early look at its investment opportunities.

The case for alternative investments

Explore the primary roles alternatives play in a portfolio and why more investors are considering them.

Too Long at the Fair

Time to retire the US/Emerging Markets barbell for a while.

What are the possible scenarios for the U.S debt ceiling?

Markets appear to be especially concerned this time, due to the extent of polarization in U.S. politics, and the uncertain U.S.…

Market Thoughts: Holding the reins tight

Recent abrupt market moves, the U.S. economy stuck in a holding pattern, and a bumpy road ahead. Our response: to be even more…

Will China’s recovery drive commodity prices higher?

Today’s Asia strategy weekly delves into this topic and explains how this round of recovery impact the world, with a focus on…

How could the Fed pause, banking stress, and debt ceiling…

It's an eventful time in the U.S. -- the Fed continued its rate hiking cycle, J.P. Morgan took over the troubled First Republic…

What we're targeting now in Alternatives

Explore the areas that we’re most excited about and how they may help you meet your goals.

Where are the Chinese tourists?

With the lifting of restrictions many regional economies expected an immediate surge of travelers that haven’t materialized,…

Oh, The Places We Could Go

A recent article in the South China Morning Post was entitled “End of dollar dominance will also spell demise of US hegemony”. …

ChatGPT: The start of the AI revolution

Reaching 1 million users quicker than any other application, ChatGPT's rapid ascent has raised some fundamental questions about…

Should we chase the U.S. equity rally?

After a start to 2023 that has surprised many given the 8% rise in the S&P 500, first quarter earnings season is a timely pulse…

Frankenstein's Monster

Frankenstein’s Monster: banking system deposits and the unintended fallout from the Fed’s monetary experiment; commercial real…

Where to hide in a volatile market?

In this volatile environment, we favor adding core duration as downside protection, remaining defensive in equities, and we als…

Why 2023 may still be good for private markets

As market volatility pushes down valuations, now may be the time to think about investing.

13th Annual Energy Paper

Renewables are growing but don’t always behave the way you want them to.

How does the Silicon Valley Bank collapse impact our…

Silicon Valley Bank (SVB) was taken over by the U.S. regulators on March 10 due to a bank run, making it the second-largest ban…

Silicon Valley Bank failure

One of these things is not like the other, and that thing is Silicon Valley Bank.

Soft landing or hard landing?

Three steps you can take to maximize tax alpha

Tax loss harvesting strategies offer an efficient way to reduce your tax bill - here are three ways to keep the tax benefits…

Will China’s “Two Sessions” be a turning point?

In this note we assess how China’s recovery is progressing, while reiterating our views on the economy and markets.

The Future of Food is Coming Fast

How might you invest in innovations that are designed to feed the world?

Winter Heating

US economy stays warm, large language model battles get hot.

5 fixed income strategies for a new market era

You can find higher yields and better protection against recession and equity declines in a variety of fixed income strategies…

How do we position U.S. equities?

In today’s Asia Strategy Weekly we take a closer look at the latest earnings results and discuss our favored ways to position…

Market Thoughts: A glimmer of hope

CIO Richard Madigan assesses the current state of the economy and markets—and shares how we are positioning portfolios now.

How strong is China’s reopening recovery?

This week’s strategy question is focused on the consumption recovery in China.

Private growth equity downturn may be your opportunity to…

And historically, there’s been a reward for staying the course in the asset class.

American Gothic

The Federal debt and how the Visigoths may try to break the system if no one fixes it.

Revisiting the 60/40 stock-bond portfolio strategy

It’s a great time to put capital to work. By repositioning your assets, you can take advantage of return of the classic 60/40…

Eye on the Market Outlook 2023: The End of the Affair

The affair with the market catalysts of the last decade is over now, and a new era of investing begins.

Holiday Eye on the Market: Non-Fungible Trainwreck

First, a gift for our clients: a 2022-themed non-fungible token for your digital collection embedded in the Eye on the Market. …

3 key takeaways for investors post COP27

More than 35,000 delegates came together in Sharm El Sheikh, Egypt, to take collective action against climate change – here are…

Little Red Wagon

A preliminary read on midterm election results given the context of prevailing market and economic conditions.

A CH₄, HR4346 and mRNA-1273 Thanksgiving

A Thanksgiving list of things I am thankful for. My list this year: CH₄, HR4346 and mRNA-1273.

Reruns

Three reruns for investors: equity declines, Thucydides Trap update, and the Pitcairn Problem.

Arrested Development

Three topics this week: the repricing of risky credit, labor markets and a COVID recap. While equities are pricing in a much…

A paradigm shift: Unlocking ESG data for individual…

There's a transformation underway in environmental, social and governance (ESG) data. 

On CPI, S&P, GHG and the IRS

Three topics in this month’s Eye on the Market. First, an update on the Fed, inflation and corporate profits since we believe…

The second gear of the Manchin-Schumer bill

While the Manchin-Schumer bill (if passed) would almost certainly accelerate the US energy transition, nothing like a CBO…

Independence Days

Topics: A revised map of the United States; investing in equities before a recession; Russia’s natural gas squeeze on Europe…

Dearly beloved

Dearly Beloved: some comments on Jamie’s hurricane reference last week regarding the US economy, and a eulogy for unprofitable…

Why investors are looking carefully at “human capital…

As the pandemic wanes, investors and companies are focusing on this key ESG factor.

Bear Market Barometers

The slowdown induced by central bank tightening is just starting. You can be patient when adding risk to portfolios; earnings…

12th Annual Energy Paper

We examine the energy landscape in 2022, including the energy crisis in Europe, deep decarbonization plans through…

The Tide Goes Out: Growth Trade Aftermath

Growth Trade Aftermath: asset allocation, equity mutual funds and hedge funds after the selloff

Alternatives: Do you want to invest? Here's how to start.

Alternative investments can help with portfolio diversification as well as provide inflation protection. Read more about how to…

Surveying the Damage

Surveying the Damage: Russia’s recurring war on Ukraine, equity market declines and the opportunity for bottom-fishing investor…

China and the Russian invasion of Ukraine

China and the Russian invasion of Ukraine; full steam ahead for the Fed; the paths not taken.

Russia/Ukraine update: energy implications

The brief note covers the price Europe is now paying for allowing its energy reliance on Russia to reach extreme levels, and th…

Risk unwind, supply chains and the Ukraine

Tracking the market risk unwind; Supply chain update; Ukraine; Invasion of the COVID Body Snatchers.

The Maltese Falcoin

On cryptocurrencies and the blockchain

Manchin and the reconciliation bill

You have all seen the news articles by now. The short version: Pelosi encouraged House Democrats to pass a bill that Manchin…

2021 Holiday Eye on the Market: The Middle Ages

On equity markets, the Lombards, SPAC investors, Bone-setters, George Washington, COVID bots and Omicron

Thanksgiving Eye on the Market: “The Thing”

Some things just cannot be talked about. So in this year’s Thanksgiving piece, I wrote about something else.

Help Wanted

Topics: Labor shortages, the issue of Taiwan and an update on the most over-indebted US states

Dude, Where’s My Stuff?

The global supply chain mess will require increased vaccination and acquired immunity, semiconductor capacity expansion and the…

Your Fall 2021 syllabus

Greetings students. We look forward to seeing you back on campus. Your Fall 2021 syllabus is attached. Syllabus update: Biology…

Spaccine hesitancy

Topics: if people avoided SPACs instead of avoiding COVID vaccines, the US would be both wealthier and closer to herd immunity…

Red Med Redemption

Red Med Redemption: A visual depiction of politics, ideology, vaccine resistance and the Delta variant. Other topics: US…

Thy Brother's Keeper

Topics: Delta variant; the Fed as firefighter and arsonist; US-China economic divorce picks up steam; and a unified theory of…

Food Fight: 2021 private equity update

Every two years, we take a close look at the performance of the private equity industry given its rising share of institutional…

An investor's look at the China recovery

Topics: An investor’s look at China’s recovery, the Sinopharm vaccine and the importance of scientific methods

Inflation. Duh!

This Eye on the Market addresses questions we’re receiving on markets, inflation, rates and capital gains taxes, and concludes…

Eleventh Annual Energy Paper 2021

We examine when and how renewable energy transitions might result in permanent reductions in CO₂ emissions.

Absolute Value

Biden goes for broke on growth, driving coincident and leading indicators to all-time highs; the Value recovery and where it…

The Smalligarchy

How the narrowest political margins in decades could deliver one of the biggest taxation and spending increases in the post-war…

Interest rate pretzels and the Zoom shock on real estate

If long-term US interest rates stay below 2%, that’s a great sign for equity investors. But if they don’t…it’s amazing to see…

Jamie Dimon's Letter to Shareholders

JPMorgan Chase… will do its part to ensure the global economy is safe and secure.

Asia Pacific Top 100 Women-Powered, High-Growth Businesse…

The report, developed in partnership with Ernst & Young, recognizes women leaders behind some of the region’s highest-growth…

An FAQ on Rule 10b5-1: What the amendments mean for insiders

The rules governing the plans that help insiders transact in company stock are now final. Get the answers to the most common…

Stewardship and Purpose

We discussed wealth with the world’s wealthiest. Our findings in their words.

3 steps to making a philanthropic impact in volatile markets

With the shift our financial markets have seen this year, it’s tempting to pause or reduce giving. But your contributions are…

How much cash is too much cash?

How to host meaningful family meetings throughout the year

Despite the challenges of the continued global pandemic, you can plan future family gatherings to sustain healthy connections.

Near-and-dear assets deserve a special place in your trus…

Private businesses, real estate and/or mineral asset holdings for example, may have a special place in your heart as well as…

How to create a sound estate plan

Five steps, and a few essential building blocks, can help you make sure your wishes are carried out—and your family is cared for.

Wealth Planning

From essential updates on the tax landscape and how you can navigate it most efficiently, to tips on making the most out of the…

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Audio & Webcasts

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