Core Insights - Lawrence Fuller has 30 years of experience managing portfolios for individual investors and founded Fuller Asset Management to achieve independence [1] - Fuller manages the Focused Growth portfolio on Dub, a copy-trading platform approved by US securities regulators, allowing retail investors to automatically copy chosen managers' trades [1] - The Portfolio Architect, led by Fuller, focuses on an economic and market outlook that supports an all-weather investment strategy aimed at consistent risk-adjusted returns [1] Company Overview - Fuller Asset Management (FAM) is a state-registered investment adviser [3] - FAM provides educational information and does not solicit specific securities or investment strategies [3] - The firm emphasizes that past performance is not indicative of future results and advises consultation with licensed financial professionals [3] Platform Features - Dub offers features such as portfolio construction guidance, access to an "All-Weather" model portfolio, and a dividend and options income portfolio [1] - Additional resources include daily briefs summarizing current events, a week-ahead newsletter, technical and fundamental reports, trade alerts, and 24/7 chat support [1]

Core Insights - President Trump's economic policy during his second term was expected to prioritize "America first," yet international markets, particularly emerging markets, have outperformed domestic financial markets [1] Emerging Markets Performance - Investors in emerging markets have achieved significantly higher returns compared to developed markets this year, with emerging-market government bonds gaining 15% and equities rising over 25% through September 30, based on indices like the JPMorgan Emerging-Market Bond Index and the MSCI Emerging Markets equity index [3] - The Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD) has returned nearly 4% in a few months, indicating its potential as a noteworthy investment option [2] Drivers of Emerging Markets Debt - A primary driver for the upside in emerging markets debt, including bonds in NEMD, has been the weakness of the dollar, with 10 of the 14 major emerging market currencies outperforming the dollar by the end of Q3 [4] - Many emerging currencies have appreciated this year, often by double-digit percentages, leading to reduced local inflation pressures and allowing central banks to ease monetary policy [5] Federal Reserve Influence - The dollar's decline has been partly due to expectations of Federal Reserve easing, which has positively impacted NEMD [6] - Lower policy interest rates have increased demand for emerging-market bonds, as investors seek to benefit from rising bond prices, while central bank easing has raised expectations for stronger local corporate earnings, boosting equities [7]

Group 1 - Global equity funds experienced their first weekly outflow in 10 weeks, with a net withdrawal of $4.48 billion, driven by concerns over stretched valuations, particularly in the tech sector [1][2] - U.S. and European equity funds saw significant divestments of $4.56 billion and $1.21 billion, respectively, while Asian equity funds attracted approximately $170.37 million in investments [2] - The tech sector, particularly AI, is viewed as a market driver, but high valuations pose a risk of disappointment, leading to a more selective assessment of investments in this area [3] Group 2 - Euro-denominated bond funds faced a net outflow of $3.58 billion, marking the first weekly net sales since July 9, while short-term bond funds gained $5.56 billion in net purchases for the fourth consecutive week [4] - Money market funds saw an addition of $2.54 billion, ending a two-week selling trend, indicating a shift in investor sentiment towards safer assets [4] - Emerging markets attracted $3.34 billion in equity fund investments, the highest since July 9, alongside a marginal increase of $5.98 million in bond funds [5]

Core Viewpoint - CoinShares International Limited is preparing for its U.S. public listing and aims to leverage its institutional-grade research capabilities, crypto expertise, and active management to introduce innovative products in the U.S. market [1][2]. Group 1: Strategic Approach - The company plans to apply successful European strategies to the U.S. market, focusing on differentiated products rather than single-asset crypto ETPs, which have become commoditized [2][3]. - CoinShares has a history of product innovation, including launching the world's first bitcoin ETP in 2015, which has helped maintain strong margins [2]. Group 2: Product Development - Over the next 12-18 months, CoinShares aims to launch innovative products in three core categories: crypto equity exposure vehicles, thematic baskets targeting blockchain trends, and actively managed strategies combining crypto with other assets [5][6]. - The CoinShares Bitcoin Miners ETF (WGMI) has shown strong market demand, growing to over $250 million in assets under management with a management fee of 0.75%, indicating the potential for premium pricing and sustainable margins [4][6]. Group 3: Market Positioning - The company is streamlining its U.S. product lineup by discontinuing the CoinShares Bitcoin Futures Leveraged product to focus on higher-margin opportunities [7]. - CoinShares positions itself as a disciplined, high-value player in the U.S. public markets, aiming to create sustainable shareholder value through its differentiated expertise [8].

Core Viewpoint - GMO warns that the AI sector resembles a classic investment bubble characterized by high valuations and rampant speculation [1][2] Group 1: AI Bubble Concerns - GMO has consistently cautioned about an AI bubble, reiterating its bearish stance as market exuberance grows [1] - Quantum computing stocks have surged over 1200% in the past year, leading to valuations that appear excessive [2] - The current market environment is compared to the dot-com bubble of 2000, suggesting potential risks for investors [3] Group 2: Investment Opportunities - GMO identifies attractive investment opportunities in developed market value stocks and non-US small-cap value stocks, especially in Japan [4] - Investors can shift their portfolios away from the AI sector without sacrificing long-term expected returns, as other risk assets are trading at fair valuations [6] - Funds such as the Avantis International Small Cap Value ETF (AVDV) and the iShares MSCI Intl Value Factor ETF (IVLU) provide exposure to these alternative investments [6]

Valued at a market cap of $107 billion, Blackstone Inc. (BX) is an alternative asset management company specializing in private equity, real estate, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The New York-based company raises capital from pension funds, sovereign wealth funds, insurance companies, high-net-worth individuals, and retail investors, and deploys it across a diversified portfolio of private and public assets. Companies value ...

Key Points The prices of some top dividend stocks have fallen of late, giving you a great opportunity to buy. Dividend growth stocks, in particular, can make a huge difference to your total returns from investment. These three stocks share a common link: a commitment to growing dividends. 10 stocks we like better than Energy Transfer › Who says Black Friday shopping is restricted to splashy store deals? Shopping for stocks is an equally exciting idea, especially companies that pay you to own a pi ...

Core Points - The company, Huaxia Wealth, has launched a fixed income enhanced closed-end wealth management product, designated as Product No. 223, with a fundraising period from November 28, 2025, to December 4, 2025 [1] - The minimum subscription amount for the product is set at 1 yuan, with a planned lower limit for issuance of 50 million yuan [1] - The product is classified as a fixed income type with a risk rating of PR2 (medium-low risk), and it has a duration of 543 days [1] - The performance benchmark for the product is set between 2.50% and 4.00% annually, although this benchmark does not represent expected returns or guarantee future performance [1]

两个字的变化，如何搅动规模32万亿人民币的大市场？近日，中国保险资产管理业协会正式更名为"中 国银行保险资产管理业协会"，新增"银行"二字，意味着哪些变化？来看本期飞钱说。 （文章来源：21世纪经济报道） ...

Group 1 - The CEF/ETF Income Laboratory manages closed-end fund (CEF) and exchange-traded fund (ETF) portfolios targeting safe and reliable yields of approximately 8% [2] - The service provides managed portfolios, actionable income and arbitrage recommendations, and in-depth analysis of CEFs and ETFs, catering to both active and passive investors [2] - The community consists of over a thousand members focused on finding the best income ideas, with a majority of holdings being monthly-payers for faster compounding and smoother income streams [2]