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BNY Mellon chronicles the rapid evolution of exchange-traded funds.

This paper explores the psychological underpinnings of finance (i.e. behavioral finance).

U.S. interest rates are unlikely to spike at the end of QE2 because the market has already priced in the completion of Fed purchases, but moves toward fiscal consolidation in Europe are likely to damp economic growth. Policymakers need to proceed cautiously with normalization as they have little ammunition left to battle renewed weakness in aggrega...

As we progress through market recovery, investors need to take into account three potentially historic market challenges: the end of the Federal Reserve's QE2 and the possibility of a QE3; Japan's problems of demographics, debt and natural disaster; and the sovereign debt problems of Greece, Ireland, and Portugal.

Not all master limited partnerships offer the same level of stability and predictably of current income or growth, and the impact when distributions are materially cut are catastrophic to investment values. Investors who are attracted to the core value proposition of MLPs – income and stability – will most likely benefit from taking a high-quality ...

Real estate can play an important role in a well-diversified portfolio. Current valuations support allocations to private real estate vehicles versus public real estate vehicles. Furthermore, current risk-return expectations favor investments in opportunistic real estate over core real estate.

Valuation-tilted investment strategies offer many benefits of cap-weighting – broad diversification, low costs, transparency and modest turnover – plus the benefit of the value-premium phenomenon. And unlike traditional passive approaches, these strategies incorporate all stocks, differentiate across the valuation spectrum, and respond to changes i...

Facebook can be a great way to connect with friends and family, grow a business, and send invitations to events. But be wary and protect yourself with stringent security settings. Don't give out password clues or information about the year or place of your birth, vacation plans, or home address. And never use Facebook as a confessional.

Staying focused on a single family may seem like an easy and less risky option in the wake of Dodd-Frank. However, the competitive climate will make it increasingly difficult to bypass the efficiencies and economies of scale that come with managing more families.

Finding the right thing to say to a friend with cancer can be difficult. But by responding in a way that feels comfortable, respecting privacy, being supportive, and finding concrete ways to assist, you can show that person you care and want to help.

Developments in the European Monetary Union and the United States have raised new questions about whether political systems can deliver timely solutions to medium-term fiscal imbalances. However, the authors do not believe these imbalances will derail the global recovery, lead to problematic inflation, or prevent companies from making money.

Given the uncertainty about how long low interest rates will last, now may be a good time to review personal debt as part of overall finances and identify potential refinancing opportunities. In evaluating your borrowing strategy, consider your asset/liability mix, the cost and tax implications of borrowing, and your capacity for debt.

The lifetime credit shelter trust offers a way to lock in the benefits of the increased lifetime gift exemption of $5 million per person, as provided in the Tax Relief Act of 2010, without giving that much away immediately. One spouse can set up the tax-sheltered trust for the other without paying any gift tax, or they each can set up a trust of as...

The author makes the case for investment in transportation companies, citing increasing global trade, the outsourcing of increasingly complex supply chains to third parties, the rise of e-commerce, the fuel and environmental efficiency of railroads, and infrastructure upgrades of mass transit systems.

It may be difficult for consumers to sustain current spending levels given the sticker shock of prices at the pump. Add to the mix a move higher in interest rates, cuts in unemployment benefits and other services, and a restructuring of the Social Security and Medicare/Medicaid system as we know it, and it would seem the downside risks to growth ar...