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☆ We're starting to see a little bit of pain in equity markets, says Michael Landsberg
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're starting to see a little bit of pain in equity markets, says Michael LandsbergMichael Landsberg, Landsberg Bennett Private Wealth Management CIO, joins 'Squawk Box' to discuss the latest market trends, Treasury bond yields, and more.

Persons: Michael Landsberg Michael Landsberg, Landsberg Bennett Organizations: Wealth Management Locations: Landsberg

☆ Morgan Stanley's training course to work with super-rich clients has a 40% first-time failure rate. Execs shared an example of a case study that caps the program off.
▼ + stars: | 2023-08-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Each year, some 100 Morgan Stanley advisors take a course to earn the family wealth director title. Morgan Stanley executives Alex Chester and David Bokman share what trips up advisors the most. Every year, about 100 advisors at Morgan Stanley take an exam in order to work with high-net-worth families. "We don't have a requisite number that we're looking to put through the program," Alex Chester, who runs the bank's family wealth director program, told Insider. David Bokman, Morgan Stanley's head of family office resources, and his team, pretend to be a high-net-worth client and their accountant or attorney.

Persons: Morgan Stanley, Alex Chester, David Bokman, Chester, Morgan Stanley's, Bokman Organizations: Advisors

☆ Annuities, stocks or Treasurys? Pros weigh in on the best source of retirement income right now
▼ + stars: | 2023-08-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Treasury yields and stocks have more upside ahead, according to some Wall Street investors, and annuities are yielding more than ever. So if you're nearing — or already in — retirement, which offers the best source of income? Stocks vs. annuities David Dietze, senior investment strategist at Peapack Private Wealth Management, recommended annuities and stocks — with some caveats. Right now, however, Rekenthaler said he would go for annuities, bonds or funds because real interest rates are high. Treasurys Samana of Wells Fargo Investment Institute said she likes Treasurys best — given the firm's expectations of a recession.

Persons: David Dietze, Dietze, John Rekenthaler, Rekenthaler, Samana, Morningstar Organizations: CNBC, Wealth Management, Morningstar, Securities, Wells, Wells Fargo Investment Institute, ExxonMobil, Shell Locations: Wells Fargo, U.S, Samana

☆ McCartney: Markets are priced to perfection, so volatility is likely to come
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcCartney: Markets are priced to perfection, so volatility is likely to comeAlli McCartney, Managing Director at UBS Private Wealth Management, discusses the markets' day ahead and the outlook for a potential deterioration for stocks.

Persons: Alli McCartney Organizations: McCartney, UBS Private Wealth Management

☆ Stocks are having their best run since 2021. Can they beat the August doldrums?
▼ + stars: | 2023-08-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

On average, August has been the worst performing month for stocks since 1986, according to Morningstar. That means the dwindling number of traders who remain must take extra care in a such a potentially volatile environment. 99-year-old trucking company Yellow shuts downYellow Corp., a 99-year-old trucking company that was once a dominant player in its field, halted operations Sunday and will lay off all 30,000 of its workers, reports my colleague Chris Isidore. He said the company began taking on significant amount of debt 20 years ago in order to acquire other trucking companies. “Now their debt service is just enormous,” he said, pointing to $1.5 billion in debt on its books.

Persons: Morningstar, It’s, it’s, ”, Michael Landsberg, Landsberg, “, ” Jackson, Jerome Powell, Barbie, Barbie ”, “ Oppenheimer, Eva Rothenberg, “ Barbenheimer ”, “ Barbie, Chris Isidore, Satish Jindel, Tom Nightingale, Read Organizations: CNN Business, Bell, New York CNN, Nasdaq, Apple, Landsberg Bennett, Wealth Management, Federal Reserve Bank of Kansas, Fed, Dow, AMC, Oppenheimer AMC Theaters, CNN, Warner Bros, Corp, Teamsters, AFS Logistics, “ Locations: New York, Jackson Hole , Wyoming, Washington, Nashville , Tennessee

The ousting of Flavel is one of the first actions taken by NatWest's interim CEO Paul Thwaite, after the group's former CEO Alison Rose quit on Wednesday over the same matter. NatWest has faced intense scrutiny over the decision by Coutts to sever ties with Farage. An internal review obtained by the politician-turned-TV show host showed Coutts' wealth reputational risk committee had said his values did not align with the bank's own. Australian-born Flavel, who previously served as CEO of JPMorgan Private Wealth Management in Asia Pacific region, took the top job at Coutts in 2016. Mohammad Kamal Syed will step into the role of interim CEO of Coutts and NatWest's wealth businesses, Thwaite said, adding that Flavel was stepping down by "mutual consent".

Persons: Coutts, Peter Flavel, Nigel Farage's, Flavel, Paul Thwaite, Alison Rose, Rose, she'd, Farage, Howard Davies, Charles Dickens, Queen Elizabeth II, Mohammad Kamal Syed, Thwaite, Iain Withers, Sinead Cruise, Lawrence White Organizations: NatWest, BBC, Reuters, JPMorgan Private Wealth Management, Thomson Locations: Asia Pacific

Copper M&A more than doubled in 2002 to $14.24 billion from the previous year, according to an S&P Intelligence report. "So the large miners are saying it is difficult to build new supply, so let's just buy companies," McDonald said. Copper prices have been gradually losing steam since hitting their strongest levels in over seven months in January when optimism abounded about the reopening of China. The lower copper price presents M&A opportunities for Hudbay, Kukielski said, but it will also get "squeezed" if the price of copper falls below $3.50. With lack of large mines up for grabs, he is expecting that large miners will be looking to expand their production by acquiring smaller mines.

Persons: Lundin, Newmont, Stuart McDonald, Taseko, McDonald, Antaike, Peter Kukielski, Kukielski, Minto Metals, Aaron Colleran, Colleran, David Lennox, Divya Rajagopal, Melanie Burton, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Nippon Mining, Metals, P Intelligence, Taseko, London Metal Exchange, Reuters Graphics Reuters, Hudbay, Japan's Sumitomo Corp, Minto Metals, Yukon, Royal Bank of Canada, Quantum Minerals, Ivanhoe Mines, Capstone, Barrick Gold, Bloomberg News, Barrick, AIC Mines, AIC, Sydney, Thomson Locations: SYDNEY, Toronto, Chile, Vancouver, Arizona, China, Hudbay, Canada, Yukon, Ivanhoe, Australia, Queensland, Melbourne

☆ CNBC Daily Open: For banks, big profits don’t mean stock gains
▼ + stars: | 2023-07-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Chinese economy slowsChina's second-quarter gross domestic product grew 6.3% from a year ago, falling short of the 7.3% increase analysts had expected. When tabulated month over month, GDP grew only 0.8%, much slower than the 2.2% increase in the first quarter. [PRO] Retail therapyChina's economy may be slowing, but the country's "premium" spenders are still splashing out on goods, according to Bernstein.

Persons: Elon Musk, Sony's, Bernstein Organizations: CNBC, Dow Jones, BBC, Activision, Activision Blizzard, U.S, Appeals, Federal, Microsoft, Activision's, PlayStation Locations: Asia, Pacific, Shanghai

☆ Three-Stock Lunch: UPS, Moderna and Coinbase
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: UPS, Moderna and CoinbaseMichael Landsberg, Landsberg Bennett Private Wealth Management CIO, joins 'Power Lunch' to discuss Landsberg's thoughts on three stocks: UPS, Moderna, and Coinbase.

Persons: Coinbase Michael Landsberg, Landsberg Bennett Organizations: Moderna, Wealth Management Locations: Landsberg

☆ The decision makers at 6 family offices reveal what it's really like behind the scenes at the private wealth management firms managing billions – and why they are so secretive
▼ + stars: | 2023-06-27 | by ( Ben Bergman | ) www.businessinsider.com time to read: +8 min

Family offices are the private wealth management firms managing the fortunes of wealthy families. But six people agreed to pull back the curtain on family offices to reveal their inner workings. Trust comes before everything elseThe world of family offices is built on relationships and trust before everything else. "Family offices really primarily are about wealth preservation," said Nisa Amoils, managing partner of A100x Ventures who also sits on the board of the Swig Family Office. "As much as it is a family business, it is also the business of family," said Swig.

Persons: Jahnavi Kumari Mewar, JKM, Oliver Swig, I've, Swig, We've, hasn't, Amoils, Consuelo Vanderbilt, SohoMuse, Vanderbilt, Maximilian Winter, Roy, Ben Bergman, bbergman Organizations: North, RBC, Campden, nouveau, Forbes Iconoclast Summit, A100x Ventures, Vanderbilt, Central American, Wimbledon, Harmonix, SOJA Ventures Locations: New York, Columbus, Central America, San Francisco

☆ This little-known income play offers portfolios price stability and yield
▼ + stars: | 2023-06-26 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Floating rate notes' short duration gives them a measure of relative price stability, while offering investors' portfolios some support through variable income. It's the prospect of higher rates for longer, along with the inverted yield curve, that make floating rate notes an attractive play for some. For his clients, Winter has committed between a quarter and a third of investors' fixed income allocation to floating rate notes. "It's lower coupon rates versus the opportunity to lock in high fixed rates now if you consider the environment," said Collin Martin, fixed income strategist at Charles Schwab. That means in a recession, you may not get an increase in floating rate note prices to offset a decline in equities, he said.

Persons: Allison Bonds, Bonds, Jerome Powell, Paul Winter, Winter, aren't, Collin Martin, Charles Schwab Organizations: State Street's U.S, Treasury Bond ETF, Federal Reserve, Federal, Five Locations: Treasurys

☆ 'AI excitement is becoming irrational': 4 Wall Street strategists break down why investors should proceed with caution around artificial intelligence stocks as hype around the technology grows
▼ + stars: | 2023-06-13 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

This is mind, some strategists are urging investors to proceed with caution around the technology. Below, we've compiled quotes from strategists who are warning investors not to get caught up in the hype. For example, of the top-ten technology stocks at the peak of the Tech Bubble, only two remain in the top ten today," he continued. He said he plans on reducing his positions in some AI stocks. "The excitement about generative AI has distracted investors from the possible risks of a looming recession," Goodwin said on June 6.

Persons: we've, Jason Pride, Michael Landsberg, Wealth Management Landsberg, Michael Kantrowitz, Piper Sandler Kantrowitz, Piper Sandler, Kantrowitz, Piper Sandler Lauren Goodwin, Goodwin Organizations: Tech, Landsberg Bennett, Wealth Management, New York

☆ Watch CNBC’s full interview with Envestnet's Dana D’Auria and G Squared's Victoria Greene
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Envestnet's Dana D’Auria and G Squared's Victoria GreeneDana D'Auria, co-CIO at Envestnet, and Victoria Greene, founding partner & chief investment officer at G Squared Private Wealth Management, join 'Closing Bell: Overtime' to discuss this week in markets and preview what to expect next week's big market moves.

Persons: Envestnet's Dana D’Auria, Victoria Greene Dana D'Auria, Victoria Greene Organizations: Envestnet, G Squared Private Wealth Management

☆ Get into value lower priced stocks, says Envestnet's Dana D'Auria
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGet into value lower priced stocks, says Envestnet's Dana D'AuriaDana D'Auria, co-CIO at Envestnet, and Victoria Greene, founding partner & chief investment officer at G Squared Private Wealth Management, join 'Closing Bell: Overtime' to discuss this week in markets and preview what to expect next week's big market moves.

Persons: Envestnet's Dana D'Auria Dana D'Auria, Victoria Greene Organizations: Envestnet, G Squared Private Wealth Management

"While it appears to be a hot number on the actual number of people employed, the wage rate is not increasing as fast," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. The data brought relief to investors who mostly expect the Fed to pause hiking rates at its policy meeting on June 13-14. But some pointed to the much hotter-than-expected jobs data as a sign the Fed still has not yet tamed inflation. All 11 S&P 500 sectors advanced, with the materials index (.SPLRCM) leading, up 3.4%, and the consumer discretionary sector (.SPLRCD), housing Amazon, close behind, rising 2.2%. The S&P 500 posted 15 new 52-week highs and two new lows; the Nasdaq Composite recorded 74 new highs and 40 new lows.

Persons: Kim Forrest, Phil Orlando, Nobody’s, Michael Landsberg, Herbert Lash, Shreyashi Sanyal, Shristi, Shashwat Chauhan, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Nvidia, Reserve, Labor Department, Bokeh Capital Partners, Fed, Federal Reserve, Federated Hermes, Reuters Graphics Reuters, Dow Jones, Nasdaq, Dow, Verizon Communications Inc, T Inc, Mobile US Inc, Inc, U.S, Verizon, Mobile, Nvidia Corp, Landsberg Bennett, Wealth Management, NYSE, Thomson Locations: Washington, Pittsburgh, New York, Punta Gorda , Florida, Bengaluru

☆ Why Goldman Sachs' John Waldron Flagged This 'Young, Talented' Banker
▼ + stars: | 2023-06-02 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs' COO, John Waldron, gave a speech on Thursday touting the firm's growth opportunities. The shoutout comes as Goldman Sachs joins its Wall Street peers by seeking to boost its wealth business that caters to the rich. Waldron on Thursday admitted that Goldman has "underinvested" in the private wealth business. Goldman's wealth business Goldman Sachs has about 1,000 advisors overseeing $1 trillion for its ultra-high net worth clients with at least $10 million to invest. The unit works closely with moneyed entrepreneurs, prime targets for Goldman's private wealth business.

Persons: Goldman, John Waldron, Nishi Somaiya, Goldman Sachs, David Solomon's, Nishi, We've, Waldron, Somaiya, Marc Nachmann Organizations: Oxford, Private, Silicon Valley Bank, UBS's, Credit Suisse, Bloomberg, University of Oxford, Royal Ballet School Locations: Silicon, Europe, Americas, SVB

☆ As Wall Street pushes valuations of AI companies into the atmosphere, America's small businesses are getting more 'AI curious,' survey shows
▼ + stars: | 2023-06-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

"Small businesses are AI-curious," American Express said about its survey of 550 small business leaders. "Small businesses are AI-curious," American Express said about the results of its recently released survey of 550 small business leaders. The survey, which ran in March, showed that 41% of small businesses are prioritizing AI to help them make decisions. The findings come as Wall Street is in the midst of an investment frenzy set off by last year's introduction of natural-language chatbot ChatGPT. But AI stocks have jumped so much that some on Wall Street think it's time to reduce risk and capture some profits.

Persons: —, Michael Landsberg Organizations: Express, Service, Nvidia, Big Tech, Google, Microsoft, Landsberg Bennett, Wealth Management

☆ Parts of the market are getting pricey. But analysts like these 4 cheap stocks
▼ + stars: | 2023-05-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

But only a few stocks — namely mega-cap tech — are responsible for most of the gains , according to analysts. Some analysts, however, believe some parts of the markets are still worth buying. Stock picks In fact, some analysts and portfolio managers recently named stocks that are still cheap, including some in the tech sector. "What's not cheap — our growth stocks and tech stocks and they've had a massive rally here … And those stocks are trading at multiples of in excess of 30 times earnings," he told CNBC's "Street Signs Asia" last week. Look at what's out of favor — value stocks, and particularly cyclical stocks."

☆ How much of A.I. is just hype? A bull and a bear share their tips on how to invest
▼ + stars: | 2023-05-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

But it's also had its detractors , and some analysts have warned of the risks of investing in AI. One example is Meta, which has jumped over 100% this year partly as a result of its pivot from the metaverse to AI, Dietze said. How to invest Dietze and Ware agree on one thing: Avoid investing in pure-play AI companies. For such larger tech companies, AI is only going to be a small part of total revenues and profits — so it's safer, although returns will be more muted, he said. Ware added, "Forget making bets on 'pure play' AI companies with no earnings, no moat, and now [higher] costs of capital.

☆ Should investors buy into A.I? Watch the bull versus bear case
▼ + stars: | 2023-05-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShould investors buy into A.I? Watch the bull versus bear caseJason Ware of Albion Financial Group and David Dietze of Peapack Private Wealth Management discuss the bull and bear case for investing in artificial intelligence, and how to play the trend, including stock picks.

☆ The tech trade is back, driven by A.I. craze and prospect of a less aggressive Fed
▼ + stars: | 2023-05-26 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Patrick T. Fallon | Bloomberg | Getty Imageswatch nowTo start the year, the main theme in tech was layoffs and cost cuts. But investors have shifted their focus to AI now that companies are showcasing real-world applications of the long-hyped technology. Google, meanwhile, is touting its rival AI model at every opportunity, and Meta CEO Mark Zuckerberg would much rather tell shareholders about his company's AI advancements than the company's money-bleeding metaverse efforts. The chipmaker, known best for its graphics processing units (GPUs) that power advanced video games, is riding the AI wave. The next three top gainers in the index are also tech companies: Meta, Advanced Micro Devices and Salesforce .

☆ Bank of America's Merrill names new leaders to head divisions
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

May 19 (Reuters) - Bank of America Corp's (BAC.N) investment and wealth management arm Merrill named insider Greg McGauley as the head of private wealth management, international and institutional, Merrill said on Friday. Merrill offers investment management services to its clients including, wealth planning, insurance, retirement and savings planning. McGauley joined Merrill in 1994 and has held several senior roles at the company, including leading private wealth services. Lydia DiClemente was also named as the head of Merrill Banking Enablement and Merrill Financial Solution Advisors. DiClemente, who has more than 20 years of experience in the wealth management industry, will also work in partnership with April Schneider, the head of wealth management banking and lending.

"Markets reacted positively because they saw the inflation data as a small positive," said Michael Harris, president at hedge fund Quest Partners LLC. The rate-sensitive S&P 500 technology sector index (.SPLRCT) went up 1.22% and the communication services (.SPLRCL) rose 1.69%. REUTERS/Brendan McDermidIndexes were choppy during the session, as investors digested the positive inflation print with concerns about the looming debt ceiling. Advancing issues outnumbered decliners on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers. The S&P 500 posted 18 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 86 new highs and 152 new lows.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. The lower-than-expected inflation data drove the Nasdaq Composite Index (.IXIC) up as much as 1.17% to its highest intraday level in more than eight months. The rate-sensitive S&P 500 technology sector index (.SPLRCT) rose 0.82%, while communication services (.SPLRCL) was up 1.21%. Declining issues outnumbered advancers on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favored advancers. The S&P 500 posted 14 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 71 new highs and 135 new lows.

☆ Family offices move to 'risk on' with plans to load up on stocks, private credit
▼ + stars: | 2023-05-08 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

At a time when many investors are pulling back, family offices are moving into "risk on" mode, with plans to buy more stocks and alternative investments this year, according to a new survey. Nearly half (48%) of family offices plan to buy stocks this year, according to Goldman 2023 Family Office Investment Insight Report. "Family offices, for the most part, are really risk-on for the next 12 months," said Meena Flynn, co-head of Global Private Wealth Management at Goldman. The family offices surveyed have 12% of their assets in cash, slightly higher than 2021 levels. "The concept of staying invested is very important to the family office community.

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