The earth faces a tremendous challenge when it comes to water due to the supply and demand imbalance, the lack of substitutes, and the United Nation’s declaration that drinking water and sanitation are a human right. Investors are also increasingly focused on water-related challenges, recognizing the market’s potential to provide soluti...
The October 2016 Market Review outlines the market highlights and gives a summary of current events (such as employment housing updates, geo political events and meetings) and their impact on the markets and asset classes. Highlights include economic growth accelerating at its fastest pace since the 3rd Quarter of 2014, expectations for December Fe...
In this quarterly edition of the CIO Insights, the analysis is on the economic consequences of government policies, assessment of risk and uncertainty in financial markets, and a focus on generating returns in a low-growth world. There is also a look at renewed confidence in emerging markets, as well as a summary of our economic and market forecast...
In this quarterly investment insights report—“The Economic Case of Dr. Jekyll and Mr. Hyde”—is an examination of the uncertainty in the financial markets. It identifies and delves into key themes for investing in the current environment. The main concerns for investors revolve around the rising U.S. dollar, monetary policy c...
For eight years the Federal Reserve Bank has held interest rates abnormally low. The Fed's dual mandate of moderating unemployment and inflation seems to have morphed instead into keeping stock prices high. That has helped Wall Street tremendously but has punished the average person saving for retirement. What we need now is economic growth, an...
What if Trump trumps Clinton in the U.S. Election? With just a few weeks remaining, the markets have not meaningfully priced in the chance of a Trump presidency. While indeed this is not the base case scenario, the outcome of the election is sufficiently unclear that serious consideration should be given to the potential impact of a Trump victory o...
What They Don't Teach You at Harvard Business School was a New York Times best-seller that highlighted ingredients to success absent from America’s business schools. In today’s negative interest rate environment, there may be an even more important consideration for business school grads—to consciously forget much of what was ...
With the U.S. elections front and center in the minds of most investors around the world, we focus this edition of Global Foresight on the potential outcomes of the November 8, 2016 vote and discuss how the elections could impact the composition of the Supreme Court, legislative priorities for the next Congress and the U.S. Federal Reserve.
David P. Harris, Chief Investment Officer, discusses how shifts in demographic landscapes can impact investments, with a specific consideration of aging populations in global markets.
For insights on integrated wealth planning, this issue of The Advisor presents a view from the top with Joe Kahn, The New York Times Managing Editor, the impact of globalization 2.0, and the U.S. presidential election 2016 and the candidates’ tax platforms. Also in this issue are the best practices in providing age-appropriate transparency wh...
Chief Investment Officer David Donabedian recaps the first half of 2016 and provides an outlook for economic activity and financial markets in the third quarter of the year. The issues that will have the most impact on the financial markets over the next 12 months are:U.S. economic growth mediocre, but outperforming most of the world;federal reserv...
On November 8, 2016, millions of Americans will cast their votes for the next U.S. President. In considering how the new political environment in 2017 will impact the investment landscape, it’s important to keep in mind the words of legendary investor Benjamin Graham: “In the short run the market is a voting machine, but in the long run...
While hedge fund performance can be cyclical, as it is with equity and fixed income markets, an allocation to hedge funds can provide compelling attributes in an investment portfolio over the long run. At a closer look, hedge funds have been accretive to portfolios over the last 15 years, and in each of three 5 year segments. From a historical pers...
Structuring and strategically managing an investment portfolio is not easy in any environment. Until recently, the task was made easier with expected average returns that were at levels that would normally meet expectations to fund pension benefits, endowment distributions and lifestyle needs. However, today’s environment is drastically diffe...
Lower population growth and productivity growth will weigh on future GDP growth. These lower rates of growth, in turn, bring lower returns to many asset classes, including equities and fixed income. While this circumstance creates challenges for portfolios of any risk level, it is particularly challenging to build a low risk portfolio that generate...