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  • When Banks Try to Be ETF Hosts, the Margins Usually Win

    When Banks Try to Be ETF Hosts, the Margins Usually Win

    The most important development is not that banks are stepping back. It is who is stepping forward.

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    7 minutes

  • Why Most Family Offices Should Fail (And How to Build the Rare Exception)

    Why Most Family Offices Should Fail (And How to Build the Rare Exception)

    Why Most Family Offices Should Fail (And How to Build the Rare Exception) “Adversity is sometimes hard upon a man, but for one man who can stand prosperity, there are a hundred that will stand…

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    29 minutes

  • Greenland: A Controlled Experiment in Collapse

    Greenland: A Controlled Experiment in Collapse

    Twenty years ago I read Jared Diamond’s Collapse. The story of Norse Greenland still matters because it shows how societies rarely fail suddenly. They fail slowly, through reasonable decisions that no longer fit a changing…

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    4 minutes

  • Is Trump Governing Like a Socialist?

    Is Trump Governing Like a Socialist?

    Comparisons between Trump and Bernie Sanders are increasingly common. This piece steps away from rhetoric and examines specific executive actions to assess whether recent economic policy relies more on administrative direction than on market pricing…

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    6 minutes

  • When the Reserve Asset Changes, the Bond Markets Notice First

    When the Reserve Asset Changes, the Bond Markets Notice First

    Bretton Woods anchored money to convertibility. The post-1971 system anchored it to credibility. Today, exchange rates and balance sheet policy are increasingly part of the same surface, and the bond market is where those pressures…

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    7 minutes

  • SFDR 2.0 and the Repricing of Sustainability

    SFDR 2.0 and the Repricing of Sustainability

    Europe has simplified the rules. The question is whether capital will follow credibility instead of labels. A Reset in Market Signals Europe is rewriting how sustainability shows up in financial products. Article 8 and 9…

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    4 minutes

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