Market Moves
Why 3Q Earnings May Undershoot Estimates
That has happened just once since 2009, but CFRA’s Stovall expects a re-run.
News
NY Comptroller Urges $15 Minimum Wage for Restaurant Workers
Many tipped employees are suffering financially, Tom DiNapoli says, and need better pay.
Alternatives
Wells Fargo: Ax Natural Gas Too Early and the Green Energy Agenda Suffers
Gas, touted as the bridge between fossil fuels and renewables, is vital to ensure a smooth shift, a report argues.
Asset Allocation
MIT, Brown Endowments Report Over 50% Returns for 2021
MIT’s portfolio grew to $27.4 billion, while Brown’s rose to $6.9 billion.
Pensions
You Can’t Judge a Pension by Its Funded Level
A new report debunks the ‘myth’ that an 80% funded level means a plan is in good health.
Allocator Insights Webinar Oct 19: Active vs. Passive
Join a live discussion with allocators to discuss best post- COVID 19 practices.
Corporate Moves
The Curious Case Against Hedge Funds in Kentucky
Missouri’s new CIO is still fighting a nearly four-year-old lawsuit in Kentucky over investments that appear to have performed as intended.
Asset Allocation
Corporate Earnings Continue to Dazzle in 2021, But What’s Next?
Estimates for the coming two years pale compared to 2021’s fireworks.
How Badly Do Rising Prices and Slowing Economic Growth Harm Stocks?
It’s not pretty: History shows that this bad combo pares equities’ median returns by 2%, Goldman says.
WHAT'S BUZZY
Biden Labor Department Wants to Ease Options for ESG Investing
A new proposed rule would end Trump-era barriers to retirement plans using environmental assessments in asset allocation.
Pensions
Pension Costs Could Force Milwaukee to Lay Off 24% of Workforce
However, a task force says a local tax increase could eliminate the need to reduce the number of city workers.
Asset Allocation
Non-Retirement Investing Among Women Surges
A Fidelity study also finds female investors outperformed men by 40 basis points over the past decade.
Asset Allocation
The Fed Will ‘Wimp Out’ on Tightening, Roubini Predicts
Dr. Doom’s latest call: Forget about rate hikes or tapering, at least anytime soon.
Asset Allocation
Dartmouth to Phase Out Fossil Fuel Investments
The college warns that climate change effects are ‘real, far-reaching, and getting worse.’
Asset Allocation
COVID-19 ‘Fault Lines’ Cause IMF to Downgrade Forecast
Supply chain disruptions and inflation pressures weigh down the World Economic Outlook.