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For Nassim Taleb, averages are completely irrelevant

In the world of finance, averages are useless. Concepts like extrapolation, correlation, and diversification do little more than invite disaster—or, at the very least, significantly lower returns than are otherwise achievable. “Modern portfolio theory is bullshit,” declared Nassim Taleb, the legendary author of The Black Swan.

Morningstar: Lord Abbett versus Neuberger Berman in USD high yield

The US economy contracted at a rate of 0.3 percent in the first quarter of 2025. The slowdown in GDP growth was driven by a surge in imports, as US firms attempted to front-run tariffs. The first-quarter decline marks a sharp turn for the economy after GDP grew at a 2.4 percent annual rate in the fourth quarter of 2024.

Allianz GI lifts ban on defence stocks in ESG push

As Europe boosts defence spending and investors adapt to geopolitical uncertainty, Allianz Global Investors has adjusted its sustainability criteria to include certain defence-related investments. Firms with more than 10 percent of their turnover from defence equipment and those that produce nuclear weapons now are considered eligible.