Risk Parity Under the Microscope

Daniel J. Loewy

Posted by Daniel J. Loewy (pictured) and Brian T. Brugman of AllianceBernstein (NYSE: AB)

After tremendous growth over more than a decade of strong returns, risk-parity strategies have recently been struggling. Has the market run-up exposed a fatal flaw? We don’t think so.

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Beyond the Emerging Middle Class

Tassos Stassopoulos

For many years, the rise of the middle class in emerging markets has captivated the imagination of investors. We think this is an illusion. It’s the working classes who will be the real engines of consumer growth in developing countries.

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Real Estate Alpha Hides in Smaller Neighborhoods

Eric Franco

After a spectacular five-year run, global real estate stocks look headed for a period of more normal returns. We think winning in this space will require a more  discriminating eye—and venturing into the often neglected nooks and crannies of the smaller-cap real estate world.

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Two Things Municipal Bond Investors Can Do Today

Guy Davidson

Municipal bonds have rallied in 2014, but low yields, memories of last year’s sell-off and the potential for higher rates ahead have many investors wondering how to maneuver. We have a couple of ideas.

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Five Things You Should Know About Housing Reform Legislation

Michael S. Canter

Posted by Michael S. Canter (pictured) and Matthew D. Bass of AllianceBernstein (NYSE: AB)

A recent US Senate bill calls for a restructuring of the government’s role in housing finance, including winding down Fannie Mae and Freddie Mac. Here are five takeaways from the current proposal.

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Retire with Power…Purchasing Power

Richard Davies

Retirement planning isn’t just long-term investing, it’s long-term spending, too. How can retirees help insulate the nest eggs they’ve accumulated from the corrosive long-term effects of inflation?

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Ukraine: A Bailout or “Bail In” for Bond Investors?

Marco Santamaria

As the drama of the political showdown over embattled Ukraine plays out, bond investors face less-publicized concerns over the fate of their Ukrainian investments and a potential bailout. But a bailout may not be all good news for investors.

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Global Investing and the European Enigma

Mark Phelps

Equity investors are struggling to figure out how to approach the European enigma. It’s clear that a recovery is brewing, but there’s still too much uncertainty for comfort. In our view, distinguishing the European context from that of the US or Japan can help point the way toward unravelling the puzzle.

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Endowments and Foundations: Coping with a Budgetary Shortfall

Brian D. Wodar

Brian D. Wodar and Ashley E. Velategui

The board of the Midtown Art Museum (MAM) had an unpleasant surprise. Due to federal budget cuts, an expected $1 million grant for the upcoming year was not going to arrive. This was a huge loss for an entity that had just $9 million in assets and $200,000 in annual donations. How could it adjust?

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Reaching for Yield: Worth the Risk?

Gershon Distenfeld

Investors seeking more robust returns in a lower-interest-rate environment often look to high-yield bonds for answers. But it’s critical that they don’t reach too far down the credit spectrum in search of higher yields—as tempting as it may be.

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