Joshua David Spitz, FRM

The AI revolution is here! Major companies are now deploying generative AI in real-world applications, signaling potential investment opportunities in many sectors. Putnam Investments’ Richard Bodzy and Greg McCullough share their insights at https://lnkd.in/gqyqaprT.

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New Whitepaper from Caron's Corner: In this paper we discuss new management techniques required to capture higher returns in a higher inflation regime. A new market regime is upon us catalyzed by rising inflation risks. This presents a challenge to investors seeking to compound returns at target levels with stability because it increases correlation risks. Effectively, it pushes the efficient frontier inwards and reduces risk-adjusted return potential. In this paper, we explain how we counter this adverse impact to returns in this new regime through a new management approach with the goal of achieving stable target returns. https://mgstn.ly/3QNuw0f

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Thrilled to announce a game-changing partnership between Alphathena and ETF.com! 🚀📊 As an Alphathena team member, I'm incredibly excited about the potential this collaboration unlocks for financial advisors and their clients. Here's why this matters: - Democratizing Direct Indexing: Making sophisticated investment strategies accessible to a broader range of investors. - Enhanced Education: ETF.com users can now access Alphathena's expertise on replicating ETFs more tax-efficiently through direct indexing. - Seamless Integration: Advisors can transition smoothly from ETF research to implementing personalized direct indexing strategies. - Empowering Advisors: Combining cutting-edge technology with comprehensive educational resources to deliver superior client outcomes. - Industry Innovation: Leading the shift towards more personalized, tax-efficient investment solutions. Our co-founders, Tushad Driver and Mohan Naidu, envisioned Alphathena as a solution to help advisors leverage personalization strategies like direct indexing. This partnership with ETF.com is a significant step towards realizing that vision. Proud to be part of a team revolutionizing investment management. Here's to making direct indexing more accessible and understood! Read more about this exciting partnership: https://lnkd.in/gxHu3A6U? #DirectIndexing #FinTech #InvestmentManagement #FinancialAdvisors #AlphathenaPartnerships

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=> The U.S. labor market report produced a knee-jerk reaction among major FX – but MXN, COP, BRL, and ZAR are bucking the trend => MXN clearly likes the idea of a stronger growth in the U.S. Further, President Sheinbaum continues to send orthodox policy signals (including the post-election fiscal adjustment), and there is now a possibility that parts of controversial judicial reform might be revised => BRL/COP/ZAR’s outperformance is even more interesting – Domestic factors still getting noticed? (chart’s source - Bloomberg LP)

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For the first time in years, rising yields have made bonds a much more powerful part of the asset allocator’s toolkit. How should asset allocators be thinking about the role of fixed income in portfolios? Download the report → https://bit.ly/3yddQc3

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Despite the noise from the recent market sell off, we continue to believe the US and other global economies are on track for a soft landing, with underlying economic data remaining resilient. Julius Bendikas joined Anna Edwards, Guy Johnson and Kriti Gupta on Bloomberg’s Opening Trade to discuss our latest macroeconomic and asset class views and why we believe equities may have further to run. Watch the full interview click here: bit.ly/3YIfXjv #investing #markets #economy

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Portable alpha overlays with low correlations to traditional asset class exposures can help provide diversifying, additive returns, particularly during drawdowns in risky assets that typically occur at the end of economic expansions. Is now the time to consider an overlay? Read the new white paper from PGIM Quantitative Solutions: https://on.pru/3WkGOAU

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In a recent Top of the Morning podcast, Paul H., Daniel Cassidy, and I discussed our recent report assessing the likelihood of a "Roaring '20s" scenario for the US economy. We touched on what the scenario looks like, the key drivers for it to happen, how policy is a wildcard that could make the scenario more or less likely, and general investment implications if it were to happen. Listen to the podcast for all the details. #shareubs https://lnkd.in/eTrGnzCv

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Going into Q4 and onwards, inflation should be less of a concern-- and so should the labor market due to full employment. Natixis portfolio strategists discussed labor, inflation, Fed cuts, and other market movers in a recent webinar--check out the replay:

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Securitized Credit The concept of weighted average life (WAL) or tenor is a key point of consideration. View Schroders latest article by Michelle Russell-Dowe on the ABCs of ABS. https://okt.to/IfSvYz #ABS #PrivateAssets #SecuritizedCredit

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Investors prioritize outcomes, aiming for quality results while minimizing disappointments. How can we maximize our desired outcomes effectively? In the fixed income sector, the potential upside is known, and current yields offer more potential gains than in recent history. Learn about quality investing from Ben Hayward at TwentyFour Asset Management. Read more: https://bit.ly/3WRn1JB #Vontobel #FixedIncome

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A couple of (hopefully useful) thoughts from my presentation at QuantMinds on the potential of structural corporate liabilities pricing framework to bridge some gaps in factor investing. #QuantMinds #StructuralFactorInvesting https://lnkd.in/esK4GBWM

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Markets have priced in a soft landing in the US. But as we all know, markets can be wrong. Pilar Gomez-Bravo, Co-CIO Fixed Income, explores three tail risks to this scenario and how we are positioning portfolios for them. bit.ly/3wS1E00.

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Check out the latest piece from my macro + FX + credit + equity colleagues, a major markets special / cross asset report post-new-old (or old-new) US president...

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Great panel about growth strategies with recently promoted Robert Karofsky (Co- President Americas - UBS) recently promoted Michael Camacho (Head of WM US), and John S. Mathews (Head of PWM - UBS)! Few insights from the private wealth briefing: 1) ~$18T of assets will pass between generations from now to 2030 based on a recent Ernst & Young survey. 2) ~$30T of assets will pass to women between now to 2030 based on a recent McKinsey survey. 3) UBS ARC (Analytical Research Community) is a competitive advantage: connecting tech founders, venture capitalists with high quality sector research. 4) Recently created Unified Global Banking, led by Jennifer Gabrielli aims to bring 'one bank' to the next level with wrap around solutions for private clients and their companies. Thanks for spending time together! Team: Chuck Korasick / Robert Gach / Jen Lechman / Samantha Bloom / Jon Schechter, CFP® / Lizzie / Susan Mgmt: Lauren Gorsche #ubsglobalwealthmanagemnt #pwmconference2024

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"Trump’s victory is likely to accelerate macroeconomic trends already in motion: labor supply (weaker), the supply of tradable goods (contracting), and a deteriorating fiscal backdrop. These are likely to lead to higher near-term inflation and higher inflation volatility." @Mike Medeiros, US Macro Strategist #USElection #MarketAnalysis #EconomicOutlook #Trump #Finance Read more: https://lnkd.in/ekvVh2-U

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https://lnkd.in/eDg_YmhM The FX strategy team at JPMAM have held a long-term view that a global slowdown would not necessarily lead to broad US dollar strength, largely due to a huge shift in global capital flows since the GFC. We update our thinking below.

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