BUSINESS
The US stock market is becoming a dumping ground
The quality of smaller listed companies has deteriorated as raising private capital becomes easier than ever
BUSINESS
The Fed is a poor guide for stock investors
The S&P 500 usually rises whether the central bank is raising or cutting rates. There are more reliable ways to decide on portfolio allocations
BUSINESS
US Federal Reserve’s criticism is cheap, and it’s mostly mistaken
The central bank should get more credit for the stable prices and low unemployment it has fostered over three
BUSINESS
Apple and Alphabet’s freakish earnings broke this market barometer
It’s time to revamp a once-reliable gauge of stock returns that just couldn’t cope with Big Tech
BUSINESS
Nvidia’s murky AI future isn’t reflected in its price
The variability of earnings growth forecasts tells a cautionary tale about the stock market darling’s prospects
BUSINESS
Stocks are pricey even without Magnificent Seven
The market is cheaper when the Magnificent Seven are excluded, and it is, although not as cheap as you might think. When the Magnificent Seven are excluded, the S&P 500 ’s P/E ratio falls to 24 from 28
BUSINESS
Spot Bitcoin ETFs are coming. Beware the risk
Crypto cheerleader Mike Novogratz urged investors to run the numbers on the digital currency to prove its attractiveness. They don’t back him up
BUSINESS
Looks like cash and acts like stocks, but it has a catch
Direct lending to small and midsize businesses has a veneer of stability that could easily be punctured by higher rates and a downturn
BUSINESS
S&P 500’s tech-heavy top is a feature, not a bug
Even though just five stocks, led by Apple and Microsoft, account for 24% of the index, the concentration helps stabilize the risk of investing over time
BUSINESS
AI will supercharge productivity. Will workers benefit?
Artificial intelligence promises greater gains than any technology before it, but it threatens to worsen pay and wealth inequality
BUSINESS
Stocks beat cash even if you could time a recession
The S&P 500 has proved to be remarkably resilient in the six months before downturns
BUSINESS
Warren Buffett shows investors how to broaden their horizons
High-quality companies can be found outside the US, and often at cheaper prices
BUSINESS
Personal Finance: SVB collapse should teach bond investors a stark lesson in term risk
While there was little to no credit risk in SVB’s Treasuries and government-backed bonds, the danger with lending for longer is that when interest rates rise, bonds decline in value — and the longer a bond’s term, the greater the decline
BUSINESS
Active managers are on a winning streak. That won’t last
Stock pickers are beating the S&P 500 in droves, but it’s a mistake to assume their success will persist
BUSINESS
Institutional investors are flexing their ESG muscles
Big pension, endowment and sovereign wealth funds are intensifying their activism on diversity and Climate Change
