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Brilliant Investment Thinking by Advisers for Advisers.
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Reflexivity and the risk of market feedback loops

In periods of expansion, reflexivity supports rising valuations and expanding credit availability; but like leverage, it operates in both directions

Mean reversion: powerful until the regime shifts

Markets often reward patience. Mean reversion has humbled many predictions of a new era. Yet regime shifts do occur. When the base conditions change, the old...

Finding value when momentum runs hot

As AI enthusiasm and speculative behaviour reshape equity markets, John Goetz and Dan Babkes from Pzena Investment Management say advisers should look beyond...

Your brain on red: why the wealth management industry’s crisis playbook is making things worse

The wealth management industry believes market panic is an education problem. In reality, it’s a biology problem.