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China Walks an FX Tightrope
by Hayden Briscoe, Anthony Chan of AllianceBernstein, 1/26/16
The liberalization of China’s currency and capital account is under threat as the renminbi (RMB) falls, capital outflows intensify and foreign reserves dwindle. Will the country forge ahead with its reforms or pause to allow the market to settle down? Both, in our view, have their pros and cons.

New Year, More Volatility—What Can Investors Do?
by Martin Atkin, Dianne Lob, Alison Martier of AllianceBernstein, 1/25/16
The calendar has changed to 2016, but the volatility story remains. The key concern: weaker global growth and its possible ripple effects, including low oil prices for an extended period. How should investors approach this challenge?

Even As Defaults Rise, High Yield Should Stay Afloat
by Gershon Distenfeld of AllianceBernstein, 1/22/16
The plunge in commodity prices is bad for energy- and metals-sector high-yield bonds. But it’s positive for the majority of issuers. That’s why we expect only a modest rise in the average default rate in 2016.

Pricing Power Adds Pep to Equities
by Mark Phelps, Dev Chakrabarti of AllianceBernstein, 1/19/16
It’s hard to find companies that can reliably increase earnings while global economic growth remains subdued. In this environment, pricing power can help investors identify companies that are capable of delivering sustainable growth.

Rising Rates Won’t Hurt US Home Prices
by Janaki Rao, Michael Canter of AllianceBernstein, 1/14/16
The long-anticipated rate hike by the US Fed has intensified concerns that the move will be a drag on the ongoing housing recovery. We think that’s unlikely.

Is Oil Too Slick for Equity Investors?
by Joseph Paul, Jeremy Taylor, Akhil Kapoor of AllianceBernstein, 1/13/16
It’s early January and oil is already making news again. We believe that there are effective ways to position an equity portfolio for an eventual oil-price rebound—without getting hurt in the meantime.

Don’t Put Your Bonds on Autopilot in 2016
by Douglas Peebles of AllianceBernstein, 1/12/16
The bond market is probably in for more turbulence in 2016, and investors may have to make some course corrections along the way. Staying airborne in these blustery conditions requires an active strategy.

Passive or Active Equities: Why Choose Just One?
by Dianne Lob, Nelson Yu of AllianceBernstein, 1/7/16
Passive investing is popular—but it isn’t risk free. By combining active and passive approaches in an equity allocation, we think investors can effectively reduce risk relative to a single manager and also enjoy better returns than those of the benchmark.

How Are Your Alternative Investments Wired?
by Richard Brink of AllianceBernstein, 1/5/16
Alternative strategies can be programmed to deliver a dizzying variety of return patterns. To cut through the clutter, investors can start by understanding the settings a manager uses.

From Congress: An Early Christmas Present for the Charitably Inclined
by Tara Thompson Popernik of AllianceBernstein, 12/24/15
Christmas came early for US taxpayers when Congress passed the Protecting Americans from Tax Hikes (PATH) Act of 2015 on December 18. The Act extended several expired tax provisions, some permanently, including qualified charitable IRA distributions. But other giving strategies may make some philanthropic taxpayers even merrier come tax time.

ETFs: Passing Marks for Liquidity, but What About Performance?
by Gershon Distenfeld of AllianceBernstein, 12/21/15
Proponents of credit exchange traded funds (ETFs) claim the last week of market turmoil was a test for these instruments—and that they passed. We think this takes grading on a curve to a new level.

Six Lessons We Learned About Bonds in 2015
by Douglas Peebles of AllianceBernstein, 12/17/15
In 2015, bond investors faced slower nominal global growth, less liquid markets and a looming US rate hike. But with challenges come lessons: here are some takeaways from 2015 that should remain important in 2016.

Follow the Dollar: It’s Heading for China
by Hayden Briscoe of AllianceBernstein, 12/16/15
The move to confer reserve status on China’s currency is part of a process that could lead to nearly US$3 trillion being injected into the country’s bond and equity markets. We’ve taken a close look at where the money could come from.

Want High Income? Time to Expand Your Horizons
by Gershon Distenfeld of AllianceBernstein, 12/9/15
As we look ahead to 2016, we still see attractive opportunities for investors who need their portfolios to deliver a high level of income. CCC-rated corporate bonds are not one of them.

Want High Income? Time to Expand Your Horizons
by Gershon Distenfeld of AllianceBernstein, 12/8/15
As we look ahead to 2016, we still see attractive opportunities for investors who need their portfolios to deliver a high level of income. CCC-rated corporate bonds are not one of them.

Why You Shouldn’t Fear a Fed Rate Hike
by Ashish Shah of AllianceBernstein, 12/7/15
The Federal Reserve appears ready to raise interest rates next week. Bond investors fear that could pummel their portfolios. We’re not so sure—and we think moving to the sidelines now is a bad idea.

New Paths to More Consistent Equity Alpha
by Dianne Lob, Nelson Yu of AllianceBernstein, 12/4/15
Every investor approaches the equity market with a different goal—and faces a wide array of portfolios to choose from. Our research suggests that high-conviction equity strategies can be combined to achieve more consistent outcomes with better risk-adjusted returns.

Why Am I Paying High Capital Gains When Market Returns Are So Low?
by Paul Robertson, Tara Thompson Popernik of AllianceBernstein, 12/3/15
This year, like last, US investors may find themselves in the disconcerting situation of facing significant net taxable capital gains, although the stock market is up only modestly for the year to date. How could this happen?

Cutting Your Losses? With High-Yield ETFs, Maybe It’s Time
by Gershon Distenfeld of AllianceBernstein, 12/1/15
If you bought a high-yield exchange-traded fund (ETF) over the past two years and still own it, you’ve probably lost money. But don’t fret. This might be an ideal time to change course.

A Silver Lining in China’s Clouds
by Hayden Briscoe of AllianceBernstein, 11/30/15
China’s new Five-Year Plan reinforces the government’s pro-growth and reformist credentials. While this may not be enough in itself to reassure worried investors, we see some fundamental trends which provide encouragement for the country’s economic outlook in 2016.

Understanding the Two Chinas
by Stuart Rae, Hayden Briscoe of AllianceBernstein, 11/24/15
Our view that China may be heading for a mild cyclical upswing next year needs to be set against the background of the broader economy, which is changing rapidly. We think that it makes sense to view the economy as consisting of two parts: old and new.

US Equities: Revenue Is King in 2016
by James Tierney, Jr of AllianceBernstein, 11/23/15
US markets are facing complex conditions. Stocks have been volatile. An interest-rate hike looms. Corporate profit margins have likely peaked. So what’s the right investing strategy for 2016?

Is Active Share Losing Its Luster?
by Dianne Lob, Nelson Yu of AllianceBernstein, 11/21/15
Investors are starting to think twice about active share. It’s about time. While active share is important, our research shows that it is just one of several ways for skilled equity portfolios to express high conviction.

Muni Investors Want Liquidity Plus Diversity
by Guy Davidson of AllianceBernstein, 11/20/15
The municipal market is no different than other markets when it comes to liquidity: they’re liquid until suddenly they aren’t. Investors must assess their need for liquidity to navigate such challenges.

Are You Being Paid for Emerging-Market Risk?
by Shamaila Khan of AllianceBernstein, 11/18/15
When it comes to emerging-market (EM) bonds, clients often ask us if they’re being adequately compensated for their risk. It’s a fair question, but answering it isn’t as easy as many people think.

Sustaining a Foundation, Stepping Up as Fiduciaries
by Seth Masters of AllianceBernstein, 11/17/15
Establishing a foundation can be a great way to pursue charitable objectives, but it often brings a host of fiduciary responsibilities that donors may feel ill-equipped to handle. In this hypothetical case study, a couple of entrepreneurs sought our advice on asset allocation.

Could High-Yield ETFs Be the New CDOs?
by Ashish Shah of AllianceBernstein, 11/16/15
Passive management strategies in high yield promote lax lending standards and sketchy supply, much as they did during the pre crisis CDO boom. For investors, this could mean lower credit quality and a higher probability of default.

A New Era Begins, and Not Just for China
by Hayden Briscoe of AllianceBernstein, 11/13/15
As we approach the end of 2016, we’re increasingly of the view that we’re nearing the end of one investment era and the beginning of another. We expect this global trend to be positive for China, but it might have a downside for some risk assets.

Making the Most of a 401(k) Account
by Anne Bucciarelli of AllianceBernstein, 11/13/15
Taking advantage of your employer’s retirement savings plan is one of the most powerful and effective tools available to investors planning for retirement. But be wary of “setting and forgetting” the amount you contribute each year: It may not be enough to meet your goals.

How to Fly in Turbulent Emerging Markets
by Sammy Suzuki of AllianceBernstein, 11/12/15
Emerging markets may be stormier these days, but they’re still brimming with opportunities. You just need to know how to find them. That’s going to take some skillful piloting—and highly sensitive downside-risk radar.

ETFs: Before You Buy, Read the Warning Label
by Peter Kraus of AllianceBernstein, 11/11/15
We don’t hate ETFs. In fact, we use them ourselves and are considering managing client assets in the active ETF space. When used properly, these instruments can be a useful component in a well-diversified portfolio. But ETFs aren’t perfect, and relying heavily on them without understanding their imperfections is risky.

Sticking with Your Asset Allocation
by Seth Masters of AllianceBernstein, 11/10/15
An investment plan will work only if an investor has the emotional fortitude to stick with it. That’s easier said than done, particularly with a more aggressive portfolio, when market conditions are rough.

Want High-Yield Exposure? Forget About ETFs
by Gershon Distenfeld of AllianceBernstein, 11/7/15
Have a short-term view on high yield? Maybe an exchange-traded fund (ETF) is right for you. But if you want long-term exposure to this market, ETFs are a terrible choice.

Making the Connection: Getting Workers into Target-Date Funds
by Richard Davies of AllianceBernstein, 11/3/15
“If you build it…” will they come? DC plan sponsors can take heart that automatically enrolling participants in QDIAs, like target-date funds, is a move that most workers will welcome.

A Better Bond Blueprint?
by John Taylor of AllianceBernstein, 10/30/15
Bond strategies based on benchmark indices have big limitations and could expose investors to an unattractive mix of investment risks. Is there a better blueprint for global bond investors?

REITs and Rates: Dancing to Different Beats
by Eric Franco, Ajit Ketkar of AllianceBernstein, 10/30/15
Recent volatility in equity markets has added appeal to US REITs, with their generous dividends and cash flows. But could a US rate hike upset the picture? Probably not as much as you think.

On Mutual Fund Liquidity, SEC Headed in Right Direction
by Ashish Shah of AllianceBernstein, 10/28/15
Investors trust open-ended mutual funds because they promise easy entry and exit. We think proposed new liquidity rules should help fund managers deliver on that promise.

Conviction Adds Clarity in Complex Markets
by Sharon Fay, Dianne Lob, Nelson Yu of AllianceBernstein, 10/27/15
It’s never easy to know exactly how an active manager generates returns in complex equity markets. High-conviction strategies can provide greater transparency about the sources of returns—and help create more consistent equity outcomes.

Estate-Planning Basics
by Anne Bucciarelli, Heather George of AllianceBernstein, 10/26/15
Having a will or life insurance may not be strictly necessary if you are only responsible for yourself. But if you have children or other dependents, these are crucial matters to take care of right away.

Clean Power Plan May Mean More Green for Investors
by Thomas Socha of AllianceBernstein, 10/23/15
The Obama administration recently introduced its Clean Power Plan, which aims to combat US climate change. This groundbreaking project will clean the air and transform how we generate power. Will investors breathe easier as well?

For Business Sellers, Timing Is Key to Maximizing Charitable Gifts
by Brian Wodar of AllianceBernstein, 10/22/15
More and more often, when US entrepreneurs sell their companies, they heed Albert Einstein’s advice: “The value of a man resides in what he gives.” While it’s great that so many sellers want to give back to their communities, it’s unfortunate that many wait too long to maximize the impact of their gifts.

Four Takeaways on Alternative Opportunities Today
by Marc Gamsin, Greg Outcalt of AllianceBernstein, 10/20/15
Dispersion among asset classes and individual stocks and bonds will likely increase, and that’s only one trend reshaping the landscape and redefining alternative investing opportunities. Here are four things investors should consider.

Investing for Impact: A Brief Guide for the Perplexed
by Travis Allen, Anne Bucciarelli of AllianceBernstein, 10/19/15
Discussions about investment strategies that take values or ethical principles into account can be confusing. Several different terms are used, often interchangeably; in fact, they may be converging. Here’s a brief guide that highlights a few key issues.

Eyeing Up the Infrastructure Investment Opportunity
by Gerry Jennings of AllianceBernstein, 10/16/15
There’s intense demand for capital to build and modernize the world’s infrastructure. That’s good news for investors, but accessing the opportunities isn’t a straightforward proposition.

Liquidity Risk: What Bond Managers Aren’t Getting Right
by Douglas Peebles, Ashish Shah of AllianceBernstein, 10/15/15
Remember the story of the blind men and the elephant? One grabs the tail, another, the trunk, another, a tusk—yet nobody knows what the animal looks like. Liquidity risk is like that elephant. It’s easy to misunderstand—and mismanage.

Hedging or Cross Hedging? It Makes a Difference
by Scott DiMaggio, Alison Martier of AllianceBernstein, 10/12/15
We recently wrote that currency hedging is critical for core bond investors. But not all hedging is created equal. Cross hedging is not the same strategy. Even though it can look deceptively similar, it will not deliver the same results to the investor’s “volatility” bottom line.

Happily Ever After: Lifetime Income in DC Plans Shouldn’t Be a Fairy Tale
by Daniel Loewy, Christopher Nikolich of AllianceBernstein, 10/9/15
One of the big risks in retirement saving and spending is a problem most people would like to have: a long life. But funding an extended “happily ever after” isn’t easy.

Global Bonds: To Hedge or Not to Hedge?
by Scott DiMaggio, Alison Martier of AllianceBernstein, 10/6/15
With US rates poised to rise, there’s never been a better time to reposition into global bonds as your core mandate. But when you do, it’s crucial to fully hedge against currencies—an asset class nearly twice as risky as fixed income.

China: Policy and Fundamentals Converge
by Hayden Briscoe of AllianceBernstein, 10/5/15
We recently commented on the improving trends in China’s property industry. It’s not widely understood, however, how the country’s various economic reforms are combining to create a base for future growth. A case in point concerns the property sector and capital market liberalization.

When Markets Get Volatile, You’ve Got Options
by Josh Lisser, Ben Sklar of AllianceBernstein, 10/2/15
Last month’s simultaneous volatility spike and stock downturn were unpleasant surprises for investors. But in the spirit of making lemons into lemonade, we see them as reminders to think broadly about downside protection.
Results 1,451–1,500 of 1,836 found.