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The confluence of favorable market dynamics, including high corporate cash balances, low interest rates and cooperative capital markets, has created an environment in which corporate management teams and boards of directors can take action to increase value for equity owners.Engagement by shareholders, both private and public, is on the rise and ha...

Despite extraordinary measures by global central banks to re-inflate economies, inflation has remained tame. The reasons for subdued inflation have been deleveraging, excess capacity and high unemployment levels.The author believes that:These factors are unlikely to provide the same anti-inflationary pressures going forward and the Federal Reserve ...

Periods of economic boom and bust have been a fixture in academia. Many credit Arthur Burns and Wesley Mitchell for formulizing our present day construct of the business cycle in their 1946 book, Measuring Business Cycles. In most teachings, the economy is neatly categorized into trough and peak, expansion and contraction. The dates of such periods...

Our Convergence thought leadership focuses on transformative technologies in the early 21st century. Insights and data shared demonstrate the significant impact these integrated technologies will have on virtually all industries and people worldwide for years to come.

Technology, science, geopolitics, and critical natural forces are changing the way people live, work, and interact with others. What will these changes mean to your family enterprises? To help envision and prepare for the forces of change and how they may affect your family, we turn to the work of “futurists.”

In this paper, consequences of globalization are examined. Workers from the US are facing a global labor market. Pressure on high-quality tangible assets is continuing to build. People are moving out of subsistence poverty at the fastest rate in history, creating a rapidly growing mass market for affordable tangibles as well as the most sought-afte...

Our neighbor to the south has undergone a transformation of sorts. Mexico is no longer an economic weakling, having become a global player even in the face of the Great Recession and the rise of China, a trade competitor. Mexico’s progress seems not to be garnering the level of investor interest we think it deserves. Why not? Some U.S. ...

This study describes both short-term and long-term expectations for population growth and trends, and the impact these macro-factors will have on the global economy and the resulting investment implications.

In recent years, impact investing has captured the attention of leaders in finance, philanthropy, business, and government seeking innovative ways to help solve some of society’s most pressing issues. It harnesses the efficiency and discipline of private capital markets to address the root causes o...

The dollar is worth significantly more now than a few months ago. Relative to the currencies of major trading partners, the dollar has surged nearly 6 percent since summer. As a result, investors are beginning to worry about the related impact on corporations, as well as the initial and downstream implications for the global eco...

The start of the 21st century saw the emergence of a global industry of family office and family wealth practitioners. Undoubtedly, this industry existed in previous centuries, but never on the global scale of recent times. The findings from this research show that families are learning from the best practices identifi...

The U.S. Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (Division) issued a no-action letter providing family offices relief from commodity trading advisor registration, in connection with advisory services they provide to family clients. As a result, a qualifying family office will be exempt from&nb...

The U.S. Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (Division) issued a no-action letter providing family offices relief from commodity trading advisor registration, in connection with advisory services they provide to family clients.In order to receive relief, a family office must submit a claim...

This perspective from the Glenmede CIO discusses asset returns and the business cycle, trends in economic growth and a review of valuations, business cycles and asset returns. Investors gauge how to proceed based on short-term indicators and valuation signals similar to the game "Red Light, Green Light". For the past five years...

Deutsche Bank's Year-end Outlook provides an interview with Larry Adam, CIO and Chief Investment Strategist - Americas. Topics include the state of the U.S. economy and the major drivers of economic growth, the outlook for interest rates and its effect on stock, bond and emerging markets.