Aaron Brown

BLOOMBERG

If the mechanisms are cryptocurrency tokens or private contracts, the retail investor capital flowing to private entities is invisible to regulators.
THE BROAD VIEW

The public stock market isn’t enough anymore

Demand for hot companies such as SpaceX and OpenAI is breaking a regulatory dam – we need a new way to trade

Retail investors pick stocks mostly outside their working hours and put in orders to be executed at the open. This pushes up opening prices, inflating overnight returns and reducing intraday returns.
WEALTH & INVESTING

Why do stocks gains come at night?

The market anomaly of overnight drift has baffled researchers and potentially put retail investors at a disadvantage

A semiconductor wafer. If a major futures market develops around computer processing, there’s the potential for a new class of real assets available in exchange-traded funds and other products.
THE BOTTOM LINE

Computing power is going the way of oil in markets 

There’s potential for futures trading to take off as demand and sophistication in the sector grow

The people who get the new jobs will not necessarily, or even usually, be the people laid off from the old ones.

Don’t bank on your banking job outlasting AI 

Artificial intelligence will create more and better jobs, but not without immense disruption

The trend driving change in the asset management industry for years has been fee compression. The willingness of investors to pay loads and fees has steadily declined.
WEALTH & INVESTING

The long, slow decline in fund manager fees may be ending 

A small and secretive corner of the exchange-traded fund business may be key to reversing the fortunes of traditional asset managers.

It’s impossible to predict whether recent innovations among insurers will eventually help annuity customers get higher rates or result in a financial disaster if a major provider becomes insolvent.

Annuities are back in fashion, but are they safe?

Every time interest rates go up, there is a flurry of demand for a product that has been around at least since...

The hot areas in AI use crypto technology to build decentralised controls. At the same time, many crypto projects are exploiting AI to build complex structures out of decentralised parts.
PERSPECTIVE

AI and crypto are becoming regulatory frenemies

The competition between digital currencies and artificial intelligence for the hearts and minds of tech innovators – and the wallets of venture...

Over a year or two, stocks can decline without taking everything else with them, but essentially all investments require robust long-term growth in corporate profits to provide good inflation-adjusted total returns.

Tina – ‘there is no alternative’ – is the only Wall Street acronym that matters

By shunning stocks when their prospects seem poor and alternatives seem enticing, you will miss more rallies than crashes

Poker begins when you think about what the other guy thinks about your cards.
WEALTH & INVESTING

Want to succeed on Wall Street? Learn poker, not economics

PERHAPS the most famous trading experiment ever conducted was when commodities investor Richard Dennis bet his partner William Eckhardt in 1983 that...