Section
Portfolio Construction
202 posts
The Illusion of Diversification: Why U.S. Equity Portfolios Are More Concentrated Than Investors Think
The S&P 500 has delivered strong headline returns in 2026, but a closer examination of what is driving…
161 Years of Evidence: The Case for Factor Investing Was Already Closed
A landmark new study 1 reaching back to 1866 delivers what may be the most compelling out-of-sample test…
The Conviction Gap: What Most Advisor Portfolios Are Missing at the Core
Most advisor portfolios mistake active weight for manager conviction. Franklin Templeton's five-factor core equity suite fixes that, starting with a proprietary conviction signal that extracts what managers actually believe.
When Everything Trades Together, Diversification Gets Harder
AllianceBernstein's Inigo Fraser-Jenkins on the portfolio risks of the AI era
Why the Smartest Money in the Room Still Can't Price AI
Howard Marks at the Qatar Economic Forum.
Scarcity Is the Signal: BlackRock's Q4 2026 Outlook Redraws the Investment Map
The BlackRock Investment Institute's 2026 Q4 Global Outlook1 arrives at a genuine inflection point. The AI buildout is…
Stronger Together: Carney, the Fed and the 5% Threshold
When Prime Minister Mark Carney stood before the European Parliament and embraced an invitation for Canada to become…
When the Lens Changes, Everything Changes
The greatest investment risk in today's market may not be a data surprise. It may be a change…
Twenty-Five Years Off the Benchmark: Inker on Why 1999 Is Rhyming Again
In a new GMO white paper, 25 Years of Benchmark-Free Investing1, Ben Inker, Co-Head of GMO's Asset Allocation…
Beyond the Megacaps: Why the Rally's Breadth Is the Real Story
The headlines keep pointing at a handful of mega-cap names. But Horizon Investments' Mike Dickson argues, in a…
The Quiet Costs of Getting ETFs Wrong
The promise of ETFs is accessibility. Low cost, transparent, liquid, and easy to understand. But simplicity of structure…
Jeff Weniger: Big Wall of Worry, Fears, No Bubble. Not Yet.
Listen on The Move What if the firm disrupting the ETF industry launched 197 funds in its…
The 11% Problem: Why the Traditional Portfolio Has Run Out of Road
In a September 2026 LinkedIn essay, Raoul Pal argues that conventional portfolio construction has not merely underperformed1 but…
David Wong: Anything Can Happen — 3 Decades of Market Crises Shaped This $400B CIO's Playbook
Listen on The Move What do electricity, a forgotten 1920s financier, and Bobby Orr have to do…
Unlocking the Handcuffs: Allspring Makes the Case Against Dividend-First Investing
For more than a decade, the case for equity income practically wrote itself. With the 10-year Treasury averaging…
Balancing on the Wire: Meketa Makes the Case for, and Against, Risk Parity
Risk parity has always been the portfolio construction idea that sounds simplest and behaves strangest. In a new…