Top papers: Thought-provoking insights from November

Insights from PIMCO, Goldman Sachs, PGIM, and more

Explore some of this month's most exciting pieces of content on key topics such as U.S. debt, investing while markets are elevated, efficient capital allocation, and the big macro forces that are driving economies in the next few months.

Strategies to Optimize Capital-Constrained Insurance Portfolios (PGIM)

Insurance investors who can successfully integrate the strategies suggested in this paper while navigating their complexities will likely emerge as market leaders.

The Strategic Role of Commodities in Portfolios (PIMCO)

Alongside gold, investors should consider a broad commodities allocation, which offers the potential for compelling returns and portfolio diversification.

Macro Insights Chartbook Q4: Tariffs, Sentiment, Inflation (Fisher Investments)

For compliance reasons, this paper is only accessible in certain geographies

Economic sentiment remains cautious, but speculative investment pockets are growing.

A 20/20 View of Long-Term Dividend Growth (S&P Dow Jones Indices)

Long-term dividend growth is often viewed as a key indicator of quality – it reflects a company’s ability to consistently generate and return excess cash to shareholders.

Can We Assess Companies’ Ecological Debt? And How? (Candriam)

Understanding and assessing issuers’ biodiversity-related impacts and dependencies is essential to minimize negative externalities.

How Well Are UK & EU Stock Markets Working? (Goldman Sachs)

The fragmentation of trading activity has led to the perception of a lack of liquidity in European markets.

Investing at Market Highs (Citi)

While investing into an asset at a new high may seem daunting, historically, this did not result in lower returns on average.

Omnia Debita Solventur? (Deutsche Bank Research Institute)

Although elevated debt loads feel as though they have been a perpetual source of consternation in the U.S., the urgency of these concerns is a relatively recent development.

Enhancing CAPE Models (PMR)

CAPE models are in dire need of rethinking. This paper offers a fresh take on CAPE models, helping allocators to better invest their money.

Is an AI Bubble Forming? Separating Hard Data From Hype (Robeco)

The U.S. technology sector currently trades at 30.4x forward earnings, compared to a 5-year average of 26x and a 10-year average of 22.4x.

How Europe Is Unlocking Private Markets for Every Investor (State Street)

Exchange-traded funds provide listed, liquid wrappers for previously hard-to-access asset classes.

Capital Allocation: Results, Analysis, and Assessment (Morgan Stanley IM)

There are a handful of factors that keep management teams from allocating capital as well as they could.