For a long time, many financial sector actors believed in a truncated interpretation of Adam Smith’s insight that the pursuit of personal gain promotes the common good. However, after the global financial crisis (GFC), this mindset is no longer tenable. If it ever was.The World of Adam Smith“It is n...

The golden age of fixed income is over.The days when investors could rely on traditional bonds as safe, income-producing securities that hedge equity risk and deliver returns that keep pace with inflation are finished.While it may not have felt like it, long-term investors had it pretty easy over th...

From the 1970s, when passive funds first launched, up until today, when their assets under management (AUM) have overtaken those of active funds, the active vs. passive debate has centered on that question.But this is only one of the issues that investors have to consider. And it’s not the most impo...