August 2025 top papers

Top 10 papers for August 2025

We present the best-performing papers from August 2025 by number of downloads

Tactical Asset Allocation - August 2025 (Invesco)

Slowing private demand, softening labor markets, and rising credit card delinquencies are sending warning signs. Maintaining defensive portfolio positioning, favoring fixed income over equities, underweight credit risk and overweight duration.

"The Single Biggest Mistake Investors Are Making in Markets Today" (Morningstar Indexes)

Author and hedge fund manager Daniel Rasmussen offers a skeptical take on private markets investing.

Transitioning from SAA to TPA (WTW)

The total portfolio approach represents a more holistic and dynamic approach to investing, one that considers a broader range of factors and allows for more flexible decision making.

Europe’s Next Financial Crisis Could Be the Big One (Chicago Booth)

The EU’s failure to reform after emergencies has left the euro vulnerable, argues Stanford’s John H. Cochrane and his coauthors.

Exploring Artificial Intelligence (Invesco)

A range of estimates suggests that generative AI may facilitate a productivity bump similar in size to that from the birth of the Internet and personal computing. This report explores AI from definition to the driving forces behind the recent acceleration in innovation, Invesco’s predictions around the growth of AI, and its impact on economies and markets.

Macro Insights Q3 2025 (Fisher Investments)

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

Falling uncertainty on economic issues like tariffs and taxes is proving more important to investors than tariff or tax levels, and corporations are proving adept at navigating tariff volatility.

Uncommon Truths: Demographics Suggest Less Growth (Invesco)

Falling fertility rates suggest less population growth, which could bring lower GDP expansion and less inflation. Africa appears relatively well placed; Europe, Asia and South America less so.

CIO Views | A Stock Market Melt-Up? (Standard Chartered)

While Standard Chartered remains constructive on risk assets over 6-12 months, it prefers relatively inexpensive non-U.S. markets, especially Asia ex-Japan equities, given stretched U.S. equity valuations.

Building the Backbone of AI (Brookfield)

The authors of this paper see attractive opportunities to invest in the infrastructure that will support the next industrial revolution.

Private Markets and The AI Revolution (State Street)

Artificial intelligence is rewriting the rules of private markets, and investors worldwide are racing to stay ahead.