The popular 60/40 portfolio isn’t dead, and in fact is a significantly more compelling investment than cash over the coming decade, according to JPMorgan Asset Management. The strategy of putting 60% of assets in equities and 40% in Treasuries is set to outperform cash by an annualized 4.1 percentage points,...
OpenAI is in talks to sell existing employees’ shares at an $86 billion valuation, according to people with knowledge of the matter. The artificial intelligence startup behind ChatGPT is negotiating the transaction, known as a tender offer, with potential investors, said the people, who asked not to be identified discussing...
Options traders are preparing for turbulent yen trading. Fluctuations are likely to increase amid growing concerns the Japanese authorities will intervene to support the weakening currency. At the same time, the yen may come under upward pressure amid speculation of a potential tweak to the Bank of Japan’s monetary policy...
Fortress Investment Group LLC is pitching an investment opportunity within an increasingly popular yet controversial corner of finance — funding other companies’ legal battles. The private equity firm is raising its second fund to invest in legal assets, having already deployed $6 billion into the strategy, according to a person...
Daniel Wiener has long been a fan, if a highly critical one, of Vanguard funds. That led the former personal finance writer for U.S. News & World Report to start a newsletter in 1991 that became the independent authority on the fund company’s investments, The Independent Adviser for Vanguard Investors....
Morgan Stanley chairman and CEO James Gorman, who is stepping down from that lofty perch next year, said Wednesday morning in a conference call with analysts that a recession is not on the immediate horizon. Gorman’s call comes after months of speculation by a variety of market participants, including...
Just because ESG wasn’t mentioned in the SEC’s examination priorities doesn’t mean that ESG regulation is out of mind for the agency. The Securities and Exchange Commission didn’t mention reviewing the use of environmental, social and governance factors in investment recommendations and strategies as an emphasis of its investment advisor...
The New York Stock Exchange and Nasdaq would no longer be able to offer a kind of special discount that rewards Wall Street brokerages for routing large amounts of trade orders to them under a new plan from the Securities and Exchange Commission. On Wednesday, the SEC proposed banning so-called...
A team of advisors who oversaw $2 billion in client assets at UBS Private Wealth Management have joined RIA Beacon Pointe Advisors, the firm announced Tuesday. Russell Crow and William Diehl head the Dallas-based group of six that serves approximately 50 ultra-high-net-worth households. Their decision to join Beacon Pointe was based...
Morgan Stanley’s third-quarter earnings slid amid sluggish results from the firm’s investment bank and a miss in wealth management. Revenue from the fixed-income trading business slumped 11% and, along with muted fees from dealmaking, caused a drop in net income. Revenue of $6.4 billion from the firm’s wealth management business...