This reviewer found Breakneck one of the most provocative and insightful national-level policy discussions he has come across: Despite its shortcomings, the general reader wishing to understand just why China seems to be overtaking the US, and what can be done about it, cannot do better.
Today, we introduce the Price of Certainty: How much do you need to invest to achieve a particular set of cashflows over time, with varying degrees of certainty?
This article does not discuss the rationale of owning gold as a long-term asset. Instead, it questions the recent jump in gold prices and whether the current levels are fundamentally justified.
Trian and General Catalyst are looking to drive the next phase of growth at the firm with the help of AI, people familiar with the matter said, asking not to be identified discussing confidential information.
The latest inflation data was softer than anticipated and has locked in expectations for a couple of Federal Reserve interest rate cuts to close out 2025. But inflation is far from dead, and the labor market is far from collapsing — policymakers would be wise to proceed cautiously.
The question of the moment in markets is whether we are in an AI bubble, as stocks seem awfully expensive amid hopes that artificial intelligence will transform the economy. But there is another curiosity that is far more concerning: low credit spreads. That suggests a low-risk environment — which describes precisely nothing about this market.
A meeting Thursday between Presidents Donald Trump and Xi Jinping is set to be one of the key diplomatic events of the year, with the US-China economic relationship at stake following multiple rounds of escalating tensions and temporary truces.
US stocks gained early Monday as the US and China homed in on a trade deal during a crucial week on Wall Street marked by Big Tech earnings and a Federal Reserve interest-rate decision.
A rivalry at the heart of Russia's oil trade is threatening the crucial operations the Kremlin relies on to fund its war in Ukraine, just as the US cranks up the pressure on Moscow.
Jane Fraser’s elevation to chair as well as chief executive officer of Citigroup Inc. is a reward for progress and a bulwark against potential pretenders to her throne. Her restructuring of the lumbering and longtime dysfunctional beast that is the US’s third-largest bank by assets is taking time and is far from done.
Monthly checks for nearly 71 million Americans receiving Social Security benefits will increase by 2.8% next year, a slightly larger adjustment than seen in 2025.
JPMorgan Chase & Co. has hired veteran technology dealmaker Kevin Brunner from Bank of America Corp. as a global chair of investment banking and mergers and acquisitions.
Investors will be looking beyond the bottom line in chipmaker Intel Corp.’s third-quarter earnings after a wave of investments from the White House, Nvidia Corp. and Softbank Group Corp. sent the stock soaring 86% in less than three months.
For half a century, Vanguard has been the high priest of passive investing. Its low-cost index funds have reshaped finance, humbled stockpickers, and made the Pennsylvania-based firm an $11.6 trillion behemoth.
It’s no exaggeration to say Amazon.com Inc. invented the cloud business. Amazon Web Services took the corporate data center apart and split it into pieces, building pay-as-you go services delivered with remarkable speed and consistency.
The core consumer price index, excluding the often volatile food and energy categories, increased 0.2% from August, according to Bureau of Labor Statistics data out Friday. That was restrained by the smallest increase in a key measure of housing costs since early 2021.
Gold resembles stocks more than bonds in terms of risk, although stocks have been better performers. Since 1968, gold has been about 20% more volatile than the S&P 500 while trailing it by 2.3 percentage points a year.
China is leveraging its position as the world’s largest creditor to help broaden usage of the yuan, offering overseas borrowers the chance to benefit from economically-depressed interest rates at home by ditching the dollar.
The world’s largest alternative asset manager sent the strongest signal yet that dealmaking is coming back. Blackstone Inc.’s distributable earnings surged 48% in the third quarter, fueled by a burst of investment exits from its private equity arm, the firm said Thursday.
One Nuclear Energy LLC has agreed to go public through a merger with a blank-check company in a deal that valued the developer of nuclear and natural gas power plants at about $1 billion on an equity basis.
Gold and silver saw their steepest selloff in years as investors locked in profits on concern that the recent historic rally in the precious metals left them overvalued.
In many respects, one could argue that ChatGPT’s primary function is to help gather user data to train its AI, bringing on a wealth of extra information on browsing habits that it doesn’t have access to now. That makes the product release worth it, even if market share stays minuscule.
In today's article, I will outline some steps I often recommend when teams are trying to come together and bridge differences in their approaches to working with clients.
Bond traders are preparing for Treasury yields to drop further even as the 30-year reached its lowest level in six months on Tuesday.The cost of protection against a bigger decline in yields across the curve is rapidly rising, according to pricing of options wagers.
Tesla’s problem is that right now it’s a company that manufactures cars, trucks, solar panels and energy storage systems. Its AI vision is years, if not decades, away from generating sales, much less profits.
Granted, the Fed’s monetary policy doesn’t directly determine economic growth. It operates by influencing broader financial conditions, which have eased a lot in the past year. Stock prices have risen, bond yields have declined and the dollar has weakened.
Alphabet Inc.’s Google ran an algorithm on its “Willow” quantum-computing chip that can be repeated on similar platforms and outperform classical supercomputers, a breakthrough it said clears a path for useful applications of quantum technology within five years.
David Arana always had a thing for numbers. That passion took him to MIT to study mathematics and later to New York, where he traded credit derivatives for Deutsche Bank AG.
Your annual strategy is the big-picture framework. Your quarterly plan is how you bring that framework to life. This is where you take the broad channels, content, and relationships you identified in your strategy and break them down into a focused plan with specific actions, deadlines, and responsibilities.
Advisory firms are people-driven businesses. Unlike asset managers or product manufacturers, their value is derived from human capital — specifically, the ability of teams to serve clients effectively, deepen relationships, and manage workflows.
Today's marketplace demands a new understanding of what it means to stand out — not through revolutionary uniqueness, but through extraordinary execution of fundamental principles that most advisors neglect or execute poorly.
Business Process Management is a systematic approach to making an organization's workflows more effective, efficient, and adaptable. The firms that survive and thrive will be those that recognize the concepts of BPM and BPMN as strategic infrastructure, not optional enhancements.
If you’re preparing to sell your business, the M&A process might seem daunting and mysterious. As a financial advisor, you’re an expert at connecting with clients and providing sound financial guidance.
At times like this, our Internal Financial System™ comes alive. Inside us, different parts react to the same market in opposite ways. A risk-taking part may feel emboldened by the gains and want to buy more.
A new generation of ETFs is giving the crypto rich a novel way to fold their digital fortunes into the regulated financial system — without selling, and through funds run by big asset managers like BlackRock Inc.
Vanguard Group is expanding its proxy voting program — designed to give shareholders a greater say on corporate resolutions at portfolio companies — to add the investment giant’s oldest index fund.
The artificial intelligence trade that has driven the S&P 500 Index to one record after another over the past few years is transforming traditionally sleepy utilities stocks into booming growth plays. Since the end of 2023, the utilities sector is up 44%, making it the third best-performing group in the S&P 500.
Investors looking to profit from a “Goldilocks” environment where US stocks rally but Treasury market losses are contained should short the dollar, according to a new study published by Morgan Stanley.
A relentless surge in the price of gold is delivering windfalls across emerging markets, boosting investor confidence in countries that mine and buy the metal.
Buybacks raise important questions. Foremost amongst them are whether, and how much, buybacks push up stock prices, and whether they create other distortions relevant to investors and public finances. This article explores these questions by drawing on economic theory and broadly held views of real-world investor behavior.
Seldom has the middling been the cause of so much relief. Six months after the White House unveiled steep tariffs, the global economy has held up well — mainly by outperforming some doleful projections. There's been no recession. Forecasts have even been revised up a touch.
Apple Inc. shares hit their first record of 2025 on Monday after Loop Capital upgraded the stock to buy from hold, becoming the latest firm to cite positive iPhone demand trends.
All it took was a classic bout of haven buying to wake up a slumbering Treasuries market and drive benchmark yields to the lowest in months.
Emerging markets rose, with the stock benchmark advancing to the highest level in more than four years, as signals of easing US-China trade tensions supported appetite for riskier assets.
Prior to his most recent role, Marsh held several leadership positions including as head of the EMEA financing group, global co-head of credit finance and global co-head of the alternative capital solutions unit. He became a partner at Goldman in 2014 after joining the bank in 2006.
I’m a big believer in simplicity for most things, and that includes investing. When constructing a portfolio, simplicity is what I aim for. In this piece, I offer a brief summary of how I analyze the holdings and make recommendations on what to keep and what to get out of when a client asks me to review and improve their investments.
Connecting the dots, we found that a nation's court system and level of justice have the most significant impact on its Freedom Index, and therefore, by extension, on the wealth and happiness of its citizens. Aristotle connected these ideas over 2000 years ago when he opined, “A just life is inherently a happy one.”
Wall Street has finally capitulated to gold’s record-breaking run.
Americans place a premium on elite and exclusive institutions. Many of us want to get into top-tier universities, pledge storied fraternities and, upon graduation, attain membership at Soho House.
The world’s metal traders are enjoying their most profitable ever year, after a series of supply upheavals propelled prices toward record highs and drove huge shifts in metal moving across the globe.
