Core Viewpoint - The investment landscape is undergoing significant changes, with traditional norms in portfolio construction and risk management being reexamined and often overturned [2] Group 1: Investment Themes - Mercer categorizes future investment themes into three categories: regime change, supercycles, and megatrends, each presenting unique risks and opportunities [3] - Some themes may only be suitable for investors with high governance capacity and expertise, particularly in private markets [3] Group 2: Private Assets - Private assets have been promoted as a key diversifier, with a growing trend towards retail-friendly products and political discussions in New Zealand [4] - The allocation to private markets in New Zealand is expected to grow from the current 2-3% to potentially 15-20%, aligning with Australian levels [5] - Mercer NZ currently has about 8% of its diversified funds allocated to private assets, which is expected to increase [6] Group 3: Specific Investments - Mercer NZ and Australian funds jointly invested in the Highbrook Park logistics centre, acquiring a 13% stake in an asset valued at $2.1 billion [7] - The private credit asset class represents about 2% of the NZ funds, despite some regulatory concerns in jurisdictions like Australia [8] Group 4: Manager Strategy - Mercer NZ utilizes 16 private credit managers and typically aligns with the global parent’s manager pool, but has made exceptions to better suit local needs [9][10]

Core Insights - A recent UBS report reveals that billionaires are shifting their investment focus towards Western Europe and China, showing increased optimism compared to previous years [2][7]. Investment Sentiment - 40% of billionaire respondents see investment opportunities in Western Europe over the next 12 months, a significant increase from 18% in 2024 [3]. - In China, 34% of respondents identify opportunities, up from 11% last year [3]. - The Asia Pacific region, excluding China, also saw a rise in interest, with 33% of respondents expressing bullish sentiment, an increase of eight percentage points [4]. Regional Shifts - North America has experienced a decline in popularity among billionaire investors, with only 63% favoring the region in 2025, down from 80% in 2024 [4]. - Concerns regarding tariffs, geopolitical conflicts, policy uncertainty, and inflation are influencing these shifts in sentiment [5]. Investment Preferences - 66% of respondents cited tariffs as a major concern likely to negatively impact the market environment in the next 12 months [5]. - The report indicates a preference for private equity investments, with 49% of billionaires planning to allocate funds to direct private equity over the next year [8].

Core Insights - The Vanguard Mega Cap Growth ETF (MGK) and the Vanguard S&P 500 Growth ETF (VOOG) target U.S. large-cap growth stocks but differ in diversification, sector tilt, and recent performance [1][2] Cost & Size - Both MGK and VOOG have an expense ratio of 0.07% - As of December 12, 2025, MGK has a 1-year return of 15.09% and a dividend yield of 0.37%, while VOOG has a 1-year return of 16.74% and a dividend yield of 0.48% - MGK has assets under management (AUM) of $33.0 billion, compared to VOOG's AUM of $21.7 billion [3] Performance & Risk Comparison - Over the past five years, MGK experienced a maximum drawdown of -36.02%, while VOOG had a maximum drawdown of -32.74% - A $1,000 investment in MGK would have grown to $2,083 over five years, compared to $1,978 for VOOG [4] Portfolio Composition - VOOG holds 217 stocks, with a sector exposure of 44% in technology, followed by communication services and consumer cyclical - MGK is more concentrated with 66 holdings and a heavier tilt toward technology at 58%, with top positions in Nvidia, Apple, and Microsoft [5][6] Investment Implications - MGK focuses on mega-cap stocks, defined as companies with a market cap of at least $200 billion, resulting in a more targeted portfolio - VOOG offers a broader approach by tracking the growth segment of the S&P 500, which may reduce volatility but could also lead to lower returns during tech rallies [8][10] - The choice between MGK and VOOG depends on investor goals, with MGK suitable for those seeking exposure to mega-cap leaders and VOOG for those wanting greater diversification [11]

Core Insights - The article discusses the increasing popularity of ETFs in investment portfolios for diversification purposes [1] - It highlights the author's focus on dividend investing, particularly in quality blue-chip stocks, BDCs, and REITs, aiming to supplement retirement income through dividends [1] Group 1 - The author emphasizes a buy-and-hold investment strategy, prioritizing quality over quantity in stock selection [1] - There is a goal to assist lower and middle-class workers in building investment portfolios that consist of high-quality, dividend-paying companies [1] - The article aims to provide a new perspective for investors seeking financial independence [1] Group 2 - The author identifies as a Navy veteran with a personal interest in dividend investing [1] - The article is intended for educational purposes, encouraging readers to conduct their own due diligence [1]

🇧🇷 ADOPTION: Brazil’s largest private bank recommends a 1%–3% $BTC allocation to boost diversification. https://t.co/DP1jGr6mkw ...

Core Insights - The Vanguard Growth ETF (VUG) and Invesco QQQ Trust (QQQ) are both popular choices for investors seeking exposure to U.S. large-cap growth stocks, with VUG offering lower fees and broader diversification compared to QQQ [1][2] Cost and Size Comparison - VUG has an expense ratio of 0.04%, significantly lower than QQQ's 0.20%, which translates to $4 versus $20 in fees per $10,000 invested annually [3][8] - As of December 2025, VUG has $353 billion in assets under management (AUM), while QQQ has $403 billion [3] Performance Metrics - Over the past year, VUG returned 14.4% while QQQ returned 16.6% [3] - The maximum drawdown over five years for VUG was -35.61%, compared to -35.12% for QQQ [4] - A $1,000 investment in VUG would have grown to $1,984 over five years, while the same investment in QQQ would have grown to $2,033 [4] Holdings and Sector Allocation - QQQ tracks the NASDAQ-100 Index and holds 101 stocks, with a sector allocation of 55% technology, 17% communication services, and 13% consumer cyclical [5] - VUG holds 160 stocks with a similar sector tilt: 53% technology, 14% communication services, and 14% consumer cyclical [6] Investment Considerations - Both ETFs have a strong tilt towards technology and contain similar top holdings, but VUG's greater diversification may appeal to investors seeking reduced volatility [7][9] - The choice between VUG and QQQ largely depends on the investor's preference for diversification versus potential higher returns, as both funds have shown similar earnings over the last five years [10]

Investment Strategy - The advice emphasizes the importance of not being overly influenced by daily news and events, but rather focusing on the bigger picture [1] - It suggests developing a game plan, including strategies for dealing with uncertainty, to navigate market changes effectively [2] - Portfolio diversification is highlighted as a key element of a sound financial strategy, enabling investors to withstand market fluctuations [2] Risk Management - Reacting impulsively to market events is discouraged, as it is unlikely to lead to optimal outcomes [2] - Having sufficient financial resources and diversification helps avoid the need for reactive decision-making [2]

Is it a catalytic moment to look more broadly or invest more broadly. So again, the narrative has been so much has been confined to these seven stocks, so much it is confined to these hyperscalers this particular sector. Is this the moment in which people begin to look more seriously at some of the other sectors and companies that you've been alluding to here in Lisa pointing out in the last hour what we've seen in small caps, what we've seen the Russell 2000 over the last week, an indication to you that th ...

Is it a catalytic moment to look more broadly or invest more broadly. So again, the narrative has been so much has been confined to these seven stocks, so much it is confined to these hyperscalers this particular sector. Is this the moment in which people begin to look more seriously at some of the other sectors and companies that you've been alluding to here in Lisa pointing out in the last hour what we've seen in small caps, what we've seen the Russell 2000 over the last week, an indication to you that th ...

RT Jason Applebaum (@Jason______A)15 Years is not nearly enough. I remember this day clearly, the worst single day loss I have every experienced. Second worse was when Trump dropped Melania coin and I was in a massive leverage position.Thankfully I bounced back from both but I know many people who were financially ruined. I even have a friend who jumped off a balcony because of the losses sustained by Terra.The one life lesson I learned even before all of this is NEVER put all your eggs in one basket. I lea ...