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Newly appointed Prime Minister Shinzo Abe wooed voters by promising to end its decades-long economic and market malaise with the three arrows of Abenomics: fiscal stimulus, monetary easing and structural reform. Abe quickly launched the first arrow by passing fiscal stimulus of roughly 2% of GDP. The Bank of Japan subsequently fired the second arrow by announcing a 2% CPI inflation target and more quantitative easing. This paper discusses why the authors believe the third and most important arrow - deep structural reform - will disappoint investors and drive Japanese equit

Wealth planning for same-sex married couples presents a host of challenges, and the landscape is fluid. Congress passed the Defense of Marriage Act (DOMA) in 1996, and President Bill Clinton signed the act into law the same year. The bill had two main functions. First, DOMA prevented the federal government from recognizing same-sex marriages for the purposes of federal laws or programs. Second, DOMA absolved individual states from having to legally acknowledge the relationships of gay and lesbian couples who were married in another state.

Wealthy individuals need to play an active role in their wealth management, asking advisors the right questions and reviewing their answers regularly. This requires a solid understanding of wealth management principles and how to apply them in a variety of areas, ranging from personal tax planning to the transfer of a business.

Fears regarding the future of fiat currencies (e.g., the dollar and euro) have created surging demand for “alternative” currencies. Alternative currencies, such as gold and even the fledgling Bitcoin possess many of the required characteristics to serve as currencies, but limitations will likely prohibit attainment of currency status in the foreseeable future.

Regardless of the project scope, knowing the parties and defining parameters are essential to a successful relationship. Investors and developers alike should do their homework, protect themselves and have confidence in the structure of the deal.

The world is witnessing a major rebalancing of economic power. Once dominated by the G7 nations, it is today making room for a new and expanding set of rapidly growing economies. The citizens of emerging market countries, while comparatively poor on a per capita GDP basis, are being helped out of poverty by astounding rates of domestic economic growth. For some of the larger developing economies such as China and India, economic progress has catapulted them to a plane where they are able to compete side-by-side with the wealthiest and most advanced nations of the world.

In this edition of Eton's quarterly newsletter, they discuss goals-based investing from the highly personal and conceptual processes of goal definition and prioritization featured in past issues to the important process of marrying the investor’s goals with his investment portfolio. The report includes a quarterly economic and market outlook by Jean Brunel.

This paper, which draws from interviews and a survey of executives in privately held businesses in North America and Western Europe, explores how private companies are turning to emerging and fast-growing markets that, in the

Quarterly Highlights - PwC commissioned independent research firm BSI Global Research Inc. to interview 225 chief executive officers (CEOs/CFOs) of leading privately held US businesses in the first quarter of 2013. The interviewees were asked about their current business performance, the state of the economy, and their expectations for business growth over the next 12 months. The authors then compared the responses with the prior quarter's results to see how the outlook has changed.

Wealth management firms are beginning to understand the value of their data, the efforts required to maintain it and the importance of managing and storing data accurately. This white paper looks at why data aggregation has become so important and dives into the various risks and rewards associated with different data aggregation options.