Stock Trading News

The question of whether artificial intelligence (AI) is in a market bubble has become central to investors, economists, and policymakers. On one hand, AI – i.e., by which we mostly mean automation and synthetic “thinking” technologies – is transformative. It impacts industries, drives productivity, and enables new software, tools, programs, and other products to be […]

Gold is not used in most portfolios, which are typically a stock-bond mix. Gold nonetheless has value because of its unique properties as a non-financial store of wealth that has a strong track record of offsetting equity and bond declines. If we ignore other asset classes (most notably bonds), how would we optimize a gold […]

Closed-End Funds (CEFs) are a type of investment fund that pools money from investors to buy a diversified portfolio of assets, such as stocks, bonds, real estate, or other securities.  Unlike mutual funds or ETFs (exchange-traded funds), CEFs have a fixed number of shares issued at their initial public offering (IPO) and are traded on […]

Factor investing is a strategy that focuses on selecting securities based on certain characteristics – known as factors – that have been proven to drive investment returns over time. They exist, and aren’t arbitraged out of market, because they represent a form of risk compensation, not inefficiencies built into markets (which tend to be discovered […]

Stocks are often grouped by size because market capitalization fundamentally shapes liquidity, information flow, and who can participate. Large-cap stocks are heavily researched by institutional investors, sell-side research, retail investors, and are known globally.  They’re highly liquid and inefficiencies are stripped away by institutional and systematic capital. Alpha is difficult in large caps because most […]

Stocks are roughly divided into three camps when it comes to size. Large-cap stocks are heavily researched, highly liquid, and dominated by institutional and systematic capital. Because they’re so heavily picked over and covered, persistent alpha can be difficult to extract. (It’s not easy to have a unique insight on the world’s most covered stocks.) […]

Preferred stock is a type of equity that typically pays fixed dividends and has priority over common stock in the event of a liquidation. In short, they sit in between common stock and bonds in the capital structure of a company. Most companies don’t issue preferred shares, but some do. In terms of discussions on […]

This article was published on January 17, 2026 Forward-looking real return expectations for US, global developed, and emerging market equities have declined meaningfully compared to historical averages. We look at the projected ranges and drivers of return across these regions for the next 10 years and beyond, based on valuation, macroeconomic, and earnings growth inputs. […]

Risk parity is an investment strategy that aims to balance risk across asset classes, rather than allocating more capital to traditionally “safer” investments like bonds. The goal is to create a portfolio with consistent returns, regardless of market conditions. It’s also sometimes called balanced beta. It does not generally involve any tactical trading outside rebalancing to […]

Market microstructure is a specialized area within finance that explains how assets are exchanged in markets. Though buying and selling in financial markets seems simple (there’s a buyer and a seller and they connect when bid/ask match), it’s actually a very deep topic. We’re not talking about more overarching strategies like value, macro, and so […]