Large family offices have nearly half their investments in private markets and alternatives, as they move out of the stock market in search of higher returns and lower volatility, according to a new study. Family offices have 46% of their total portfolio in alternative investments, which includes private equity, real estate, venture capital, hedge funds and private credit, according to the JPMorgan Private Bank Global Family Office Report, released Monday. The family offices covered by the survey had 26% of their assets invested in publicly traded stocks. The study surveyed 190 single family offices around the world, with an average…
Author: insighter
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Learn about fundamentals to consider before buying an individual stock and what to do if you over-contribute to a Roth IRA. This Week in Your Money: What fundamentals should you consider before buying an individual stock? What should you do if you accidentally over-contribute to a Roth IRA? Hosts Sean Pyles and Elizabeth Ayoola discuss cautionary tales from the stock market to help you understand how to safeguard your investments. They begin with a discussion of Trump Media & Technology Group Corp (NASDAQ: DJT)…
Former Donald Trump adviser Peter Navarro holds a press conference before turning himself into a federal prison on March 19, 2024, in Miami, Florida. Joe Raedle | Getty Images The Supreme Court on Monday denied a request by Peter Navarro, a former advisor to ex-President Donald Trump, to get out of jail while he appeals his four-month sentence for defying a subpoena from the House committee that investigated the Jan. 6 Capitol riot. The order rejecting Navarro’s application for release pending appeal stated only that his request was addressed to Justice Neil Gorsuch and referred to the court, which denied…
Lesson one: don’t use auto-deleting, encrypted messaging services to discuss your company if you’re in the spotlight for questionable business practices.
Spanish Prime Minister Pedro Sánchez on Monday ended days of speculation about his future by saying he will continue in office “with even more strength.” Sánchez shocked his country last Wednesday by taking five days off to think about his future, following the decision by a court to open preliminary proceedings against his wife on corruption allegations. “I have decided to continue on with even more strength at the helm of the government of Spain,” he said in a televised speech after informing King Felipe VI of the decision earlier Monday. His resignation would have deprived Europe of a prominent Socialist prime minister ahead…
Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp. Their quarterly numbers begin hitting Wall Street this week. “I’m worried about a handful of them,” Bair told CNBC’s “Fast Money” on Tuesday. “I think some of them are still overly reliant on industry deposits, have a lot of concentrated commercial real estate exposure, and then I think the larger picture really is the potential instability of their uninsured deposits even for the healthy ones if we have another bank failure.” Bair, who ran the FDIC during the 2008 financial…
Jerry Seinfeld has spent decades eating and writing jokes about Pop-Tarts. The comedian’s bit goes something like this: Pop-Tarts are so delicious that he questions why any other types of foods continue to exist. “Mom, what are you doing?” he yells, channeling his youthful aggression. “Don’t you see that it’s over?” With two Pop-Tarts encased in each pack, he reasons that the treat perfectly matches a two-slot toaster. “Why two? One is not enough, three is too many,” he joked in 2012. “And they can’t go stale because they were never fresh.” Seinfeld previously told the New York Times that…
A view of the damaged buildings and streets after months of Israeli bombardment which have turned the city into piles of rubble and ash in Khan Yunis, Gaza on April 19, 2024. Abed Rahim Khatib | Anadolu | Getty Images Crude oil futures fell Monday as the U.S. Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive against Rafah. A successful cease-fire agreement would likely further ease the geopolitical risk premium factored into oil prices on fears that the war in Gaza could trigger a…
Calls for a wealth tax on the world’s super-rich are once again gaining attention after U.S. President Joe Biden said he would impose a new “billionaire tax” on the country’s wealthiest if reelected in November. Outlining his 2025 budget proposals on Monday, Biden took aim at the uber-affluent and reiterated plans for a 25% tax on Americans with a wealth of more than $100 million. “No billionaire should pay a lower tax rate than a teacher, a sanitation worker, a nurse,” he said last week, during his State of the Union address. The plans, previously outlined in the president’s 2024 budget,…
McKinsey & Co. sought to rally its partners with upbeat declarations and blasts of rock and rap music in Copenhagen earlier this month, attempting to boost morale during a tumultuous period for the giant consulting firm. Global Managing Partner Bob Sternfels told his fellow partners at the mid-April event that McKinsey is expecting a good 2024 after its challenges of the past 18 months. He called it a “turn the page” moment, a person familiar with the matter said. Some McKinsey partners have been unhappy with how the top echelon has been managing external perceptions of the firm and its…
The hospitality and coaching guru has teamed up with Inc. to develop a workshop that helps entrepreneurs become savvier business people and better humans.
Political pressure won’t force the hand of Thailand’s central bank in making its interest rate decisions independently, the country’s central bank chief told CNBC on Monday. “The proof is in the pudding,” Bank of Thailand Governor Sethaput Suthiwartnarueput told CNBC’s “Street Signs Asia.” Despite the “clamoring” for rate cuts, the BOT didn’t act on it “if we weren’t operating independently,” he added. “I think that the governance framework for that is quite clear … the decisions that have been made indicate that they are taken on the basis of [what] we feel is the most appropriate for the economy, rather…