A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
Pascal’s Wager argues that belief makes more sense than disbelief when the worst outcome is a total loss.
In this month’s podcast, Michael looks at the midterms: GOP gains in the Senate, an historic loss in the House given economic and market conditions, and what it means for investors.
In this Eye on the Market, Michael provides an update on the credit risk of US states based on their unfunded pension and retiree healthcare obligations.
Michael recaps the self-inflicted wounds of the Section 301 tariffs, and recaps his meetings in DC with a group of Congressmen to discuss debt, deficits and financial markets.
Allocating to multi-asset credit managers, who seek out alpha opportunities without constraint, can improve risk-adjusted returns for the average DB plan.
Our summer 2019 edition looks at UK pension buy and maintain strategies, the globalisation of real estate holdings and the importance of timing when investing in a volatile, late cycle environment.
An alternative risk premia strategy is itself more diversified than a diversified growth fund or an all-equity portfolio.
Bond yields remain at or near historic lows around the world, leading to a substantial increase in the value of pension plan liabilities.