Marc To Markets

Send us a textJoin me as I reflect on the first half of 2019.   I review how my expectations for the year have played out so far and discuss why following the markets too closely can impact your ability to maintain the right long-term strategy. I emphasize why not all "buy/sell" advice is appropriate for everyone and how best to be prepared for the second half of the year.      With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does no

Send us a textWe cover the industry from the operator, investor, and legal perspective.  Cannabis is one of the fastest growing industries in the country, but faces a maze of regulatory hurdles.   I’m joined by Jason Klein - Chair of the Cannabis Law department at Offit Kurman; Dan Dolgin - Co Founder of Eaton Hemp; and Moira McLachlan - Senior Portfolio Manager at Bernstein to understand the enormous opportunities and challenges in this space.   With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast.

Send us a textEarlier this month I was joined in New York City for a lunch and learn with Ted Merwin, the author of the book Pastrami on Rye: The History of the Jewish Deli.   This episode is the recording of that discussion.   Ted covers the origin of the deli, its place in greater New York City culture, expansion around the country, the slow end of the deli era, and what he believes the future holds for this once beloved institution.    With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This po

Send us a textThis month, we focus on the bond market and interest rates. I’m joined by Matt Norton, Co-Head of Municipal Investing at Bernstein. Matt shares his forecast for interest rates and how best to position a bond portfolio in this environment.  We talk about the pros and cons of a laddered bond portfolio.   Matt shares his views on the stability of state and local government finances.  We uncover an often unseen cost to investors in the bond market and end our discussion by catching up on the status of Puerto Rico, and if Puerto Rican bonds should have a place in your portfolio.With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will b

Send us a textOn a special Marc to Markets we go about as far away from finance as possible.  I break down College Basketball's March Madness Tournament with Damon Amendolara, host CBS Sports Radio's The D.A. Show, and Dave Friedman, Play-By-Play announcer of Winthrop Basketball and mid-major conference broadcasting legend.  We talk about the types of different pools, scoring systems, and best ways to attack your bracket depending on the rules.   They share the most exciting players and teams in the tournament, and the upset picks who can help you score the points you need to win.   We end with their best bets on the final four and winner of the entire tournament.     The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be r

Send us a textThis month, we take a deep dive into philanthropy and not-for-profit organizations. I’m joined by Hillel Hyman, CFO of the Marlene Meyerson JCC Manhattan; Peter Dunn, President and CEO of the Central NY Community Foundation; and Seth Buchwald, a Principal at Bernstein and non-profit specialist. What is the best way to donate wealth, talent, and time to charity? For those already active in the space, we discuss the responsibilities of being involved with a board or investment committee of a non-profit. For those newer to philanthropy, we cover the fundamentals, highlighting the importance of an investment policy statement, and evaluating the pros and cons of establishing donor advised funds versus private foundations.  We conclude with a discussion on the challenges of the current capital market environment and how it specifically impacts foundations.  With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed a

Send us a textMillennials are rapidly becoming the largest demographic in the country.   They are already changing everything from the way we work, to how we communicate, to how we shop.  On this episode I talk with Paul Robertson, a Senior Portfolio Manager at Bernstein, to learn about who they are, what they want, and what makes them different than prior generations.  We discuss how understanding Millennials is critical for an investment manager as we think about the success of companies and economies in the future.With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The vie

Send us a textOn this episode, I switch places and answer questions from Client Advisor, Amanda Beebe about the markets and economy.   We cover an eventful year, starting with what I got right and wrong in my predictions for 2018.   I discuss where stock and bond markets stand now and what you can expect over the next 12 months.  I also preview upcoming episodes of Marc to Markets in 2019. With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does

Send us a textOn this episode I chat with Kent Spellman, Co-Founder of Hard Eight Trading, a global proprietary trading firm based in Chicago.   Kent and I discuss how the trading of stocks has changed from the old days on the floor of an exchange.   We talk about how computers and high frequency trading are changing market risk.  Are these types of traders good or bad for the market?  Kent shares how it impacts individual investors and what lessons we can learn from the inside of the trading world.      Any questions or comments I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here m

Send us a textOn this episode I'm joined by Paul Benjamin, former Director of Investments at Alcoa.  At Alcoa he was responsible for asset allocation, manager selection and risk management of Alcoa’s $7+ Billion in global Pension and Foundation assets. Paul was named by CIO magazine one of the institutional investment Industry’s 40-under-forty.We discuss the October correction and where we go from here.   Is this market volatility the new normal?  What should expectations be for stocks and bonds going forward?  We also discuss how large insitutions position portfolios and the differences and similiarities between them and individidual investors.   We look at the impact of hedge funds and electronic trading on markets.  The takesaways from from October that can help you position your investments going forward.Any questions or comments I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and the

Send us a textOn this episode I'm joined by Fred Schulman, Managing Partner of the Schulman Blitz Law Firm.  We discuss how to use insurance to best protect yourself and your family, the most important type of insurance most people do not know about and insurance companies don't tell you about, what do you if someone you know has been injured in an accident, statute of limitations, types of damages, and the nature of fees in this part of the law.      The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investme

Send us a textOn this episode we talk about the idea of sustainable investing. It is a common buzzword thrown out in the investment world today, but what does it mean, and how do you even do it? I’m joined by research analyst Joe Sun to talk about how his sustainable and thematic growth research team addresses the issue. We look into what makes a company qualify as sustainable, and who are the types of investors leading the way. The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this podcast. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice.

Send us a textOn this episode I'm joined by Amanda Beebe, Senior Associate at Bernstein Private Wealth Management. We discuss how the essence of human nature leads people to be much worse at managing money than anticipated. We share research on how the mind can be lazy and lead investors to bad conclusions, especially when it involves evaluating risk and return. We cover why people so deeply want certainty and feel such acute pain from loss, and how these desires can lead to poor outcomes. We then address the impact this has had on portfolio returns and how one can become a better investor in the future. For more information email marc.penziner@bernstein.com or call 212-969-6655. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast

Send us a textOn this episode we talk about China’s changing landscape, potential trade wars, and investment opportunity. Jim Murphy, Senior Portfolio Manager at Bernstein, explains the firm’s differentiated view of China and what our research is uncovering that might not be captured in today’s headlines. Then I’m are joined by Michael Mendel, CEO of Maytex, who has done business in China since the 1980s. He provides the business communities’ perspective on its evolution and what he sees for future of China. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast, or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed herein may change at any time after the date of this publication.

Send us a textIn this podcast, I’m joined by Steven Ross, former CEO of EdCon – one of Africa’s largest retailers, and Dana Herrman, Senior Managing Director on Bernstein’s trading desk. We discuss the impact of Amazon and the disruption it is causing on everything from the retail industry to the stock market. I’ll conclude with a final thought on how to increase your yield on cash, and why banks are paying nearly nothing on checking, savings, and money market accounts. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast, or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed herein may change at any time after the date of this publication. This document is for informational purp

Send us a textIn this podcast we discuss the hype surrounding Bitcoin, blockchain & cryptocurrency. Paul and I discuss the innovation each provides, and the investment implications, how can you play this market as an investor, and debate if the mania around Bitcoin has impacted the broader marker. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast, or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed herein may change at any time after the date of this publication. This document is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal, or accounting advice. It does not take an investor’s personal investm

Send us a textIn this edition (February 2018) I talk with Blake Mastalir, Managing Director in Bernstein’s Real Estate Group, Amy Herman, from Nest Seekers International—The Serhant Team, and Jed Lewin, Esq., LG Fairmont, to discuss the state of real estate in New York City, the tristate area, and around the country. We cover the current state of the New York City real estate market, the impact of new construction on the city and the amount of inventory expected to hit the market, the areas that are most likely to experience the highest appreciation going forward as well as the neighborhoods with the most value for your dollar, and an update on select key markets around the country (Florida, California, etc.) The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any pro

Send us a textOn this edition (October 2017) I speak with Milan Kosanovich, Federal Bureau of Investigation Special Agent, White Collar Crimes Unit, about how to protect your financial security on the Internet and in your everyday transactions. Special Agent Kosanovich has expertise in complex financial crimes, corporate fraud, and works as a certified FBI hostage negotiator. We discuss how to protect your personal financial information; everyday tips for protecting from identity theft; steps to take if your information has been comprised; questions to ask your bankers and financial advisors to verify their legitimacy; and insights into the most common financial frauds in the market today and how to look out for them. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that

Send us a textIn this edition (July 2017) of our podcast I talk with David Barnard, Head of Bernstein Private Wealth Management, as we reflect on the first half of the year for our clients, and the future of the business and industry. In this edition of our we discuss: A look at markets and our client experience at the midpoint of the year, the state of Bernstein today, and our evolution over the past few years, the major transition in markets happening now, what matters most in getting a financial plan right in today’s environment, David’s initial impressions of new CEO Seth Bernstein and what impact it may have on our business, who are our clients and how does David define investment success on their behalf. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any pro

Send us a textIn this edition (May 2017) of our podcast I talk with Tara Thompson Popernik, Bernstein Director of Research about the Trump Tax Plan. We cover the specifics of the proposal and planning issues you should consider in advance of the tax law change. The information contained herein reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast, or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed herein may change at any time after the date of this publication. This document is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal, or accounting advice. It does not take an investor’s personal investment objectives or financial situation int