Wilmington Trust’s Capital Considerations

The economy is still rising after a COVID-induced hibernation, further bolstered by easy monetary policy and vaccinations, while pent-up demand and stimulus are being deployed, brightening the outlook for corporate earnings—but for how long? How much has the recovery been priced into stocks? Chief Investment Officer Tony Roth welcomes the insights of seasoned stock pro Lori Calvasina, head of U.S....

The infrastructure package, which currently comes with a $1.7 trillion price tag, seeks to deliver new roads and bridges and expands clean energy initiatives. While President Biden is working toward a deal, a broad sweep of complex economic issues has yet to be worked out. To dimension the implications and likely outcome of this initiative, Chief Investment Officer Tony Roth turns to Professor Ric...

With each challenge comes the opportunity to reevaluate and do better. This was supremely evident in 2020, as the pandemic brought about a sea change in the way business is done. At Wilmington Trust/M&T Bank, for example, sweeping advances in technology that were in the works before COVID were brought to bear at breakneck speed. How has the virus changed the ways advisors help clients achieve thei...

Cable vs. streaming: Who will survive or even thrive? In our latest episode we explore rapidly changing tastes and how viewers are choosing to consume content from an ever-increasing supply of providers—as well as what it means for earnings of broadcast television and cable companies. Chief Investment Officer Tony Roth welcomes media and entertainment equity analyst Neil Macker from the investment...

With soaring valuations and prospects for expansion, early-stage growth firms are practically giddy with excitement and visions of stardom. Big-player sectors like technology and health care have greatly benefited from macro trends and enjoy elite status as increasingly important pieces of the future economy. Still, private equity investors are forced to face the hard truth: not every behemoth wan...

To get a fix on the outlook for fixed income securities, we turn to Lord Abbett Partner and Portfolio Manager Leah Traub. In her important discussion with Chief Investment Officer Tony Roth, Leah shares what she believes is on the horizon for interest rates, dividends, and much more. Listen in and find out if your fixed income portfolio needs fixing.

Have the tech behemoths become too big for their britches? With many regulators and government crying “Monopoly!” antitrust enforcement may well be in the offing. Tony breaks it all down with Bill Baer, the former assistant attorney general in charge of the Antitrust Division of the U.S. Department of Justice, and current visiting fellow in Governance Studies at the Brookings Institution on Think...

Over 400 companies went public in 2020, an all-time record, and the traditional IPO route is fading as the increasingly popular SPACs (special purpose acquisition companies) take center stage, offering investors and businesses the potential opportunity to more quickly access a pile of capital in the hope of becoming the next Amazon. Everyone wins—or do they? To take us through the ins and outs of...

Chief Investment Officer Tony Roth and Harvard Law Professor Robert Sitkoff discuss ESG (environmental, social, governance) investing principles and how trustees may—or must—incorporate them into portfolios. Then, Portfolio Manager Steven Norcini weighs in on our ESG strategy.

How has the pandemic impacted inflation rates and our inflation forecast as we inch closer to a post-COVID environment? Tony is joined by Wilmington Trust Investment Advisors Chief Economist Luke Tilley for a discussion about the importance of inflation as an economic and market indicator.

The pandemic has forever changed the face of business and industry in America. Listen to our special podcast series to hear how three hard-hit areas are evolving as a result. How has COVID-induced working from home changed commercial real estate? Tony talks with Kelly Rush, CIO of Principal Real Estate Securities, on the future of real estate. Learn more about our 2021 Capital Markets Forecast at...

The pandemic has forever changed the face of business and industry in America. Listen to our special podcast series to hear how three hard-hit areas are evolving as a result. Can the multi-trillion-dollar travel market shift tactics to protect against further devastating losses? Tony talks with Axel Hefer, CEO of Trivago, on the future of the travel and tourism industry. Learn more about our 2021...

The pandemic has forever changed the face of business and industry in America. Listen to our special podcast series to hear how three hard-hit areas are evolving as a result. Are brick-and-mortar stores crumbling for good? Tony talks with Mark Mathews, Vice President of Research Development & Industry Analysis, National Retail Federation, on the future of the retail industry. Learn more about our...

A demand for income and a reduction in supply of higher-quality instruments have led investors to look beyond garden-variety government and investment-grade corporate for some yield love. Tony welcomes Jeff Katz, senior product specialist and securitized fixed income expert for TCW/Metwest, to explore what fixed income bubbles have been or are in the process of being created as a result of monetar...

Tony is once again joined by Charles Plosser, president and CEO of the Federal Reserve Bank of Philadelphia from 2006 to 2015, to explore the potential risks of overcommunication from the Fed, and just how reliable rate and inflation dynamics can be two to three years down the road. Hear whether Plosser sees the central bank as becoming more—or less—effective over time.

It would be hard to overstate how large the Federal Reserve looms in investors’ minds or its influence on financial markets. While the central bank has received praise for its quick and decisive action during the current crisis, focusing on liquidity and keeping capital flowing, questions must be raised about its recent messaging in light of the recently announced most significant changes to its l...

Small business revenues and the number of small businesses open are both down roughly 19% since January. And safety concerns in light of COVID-19 have escalated the crumbling of brick and mortar stores, moving more shoppers to the virus-free realms of online shopping. What does this all mean for shifts in consumer behavior and the future of small businesses in America? Chief Investment Officer Ton...

Is the declaration of death of value stocks premature? After a decade or so of weakness relative to growth, value’s heartbeat is suddenly quickening. Hear our Head of Equity and Nontraditional Investments Matt Glaser and our Chief Investment Officer Tony Roth tackle the age-old value/growth debate and discuss what trends we can expect to unfold for equities overall.

August 3, 2020—Never could we have predicted in January that 2020 would be unprecedented in so many ways. We face a continuing pandemic, domestic unrest, and an economy that has yet to fully reopen. As we move deeper into the summer and try to understand what the “next normal” will be, it’s time to test any previous assumptions, and pivot in the face of unparalleled change. Learn the strategies we...

Rising trade tensions in the past few years saw half a trillion dollars in tariffs by the U.S. on Chinese goods and retaliation in kind. Then came COVID-19 and a whole other kind of blame game ensued. In Part II of our discussion on China, Tony and Dr. Stephen Roach, a Senior Fellow at Yale University’s Jackson School of Global Affairs, discuss whether U.S.-China relations have reached a tipping p...

July 20—This is the first of two episodes where we shine the spotlight on China, which is front and center on the world stage. Tony and Dr. Stephen Roach, a Senior Fellow at Yale University’s Jackson School of Global Affairs, discusses China’s ascendancy over the last four decades and the pressures this uber-economic power faces to sustain and even exceed its high growth rate.

Sustainable investing using ESG criteria seeks to align one’s values with the goal of reaping competitive returns. Dr. Linda-Eling Lee, global head of ESG Research at MSCI and Steve Norcini, portfolio manager, Wilmington Trust ESG Equity Strategy join Tony to discuss this increasingly popular approach and how socially conscious investors can do well by both their principles and their portfolios. *...

What will the classroom look like when students return to school? COVID-19 has altered and accelerated changes in the way we educate, including continued remote learning to varying degrees. It also shines a light on a “palpable digital divide” across the student population as far as equitable access to technology. Tony speaks with Professor Paul Reville of the Harvard Graduate School of Education...

In this episode, Chief Investment Officer Tony Roth welcomes Abby Joseph Cohen, advisory director and senior investment strategist at Goldman Sachs. Known as the “prophet of Wall Street,” Abby has been named one of Barron’s 100 Most Influential Women in U.S. Finance for 2020. Abby discusses with Tony the critical and evolving issues around health policy, consumer behavior, markets, and global rela...

Mention the Paycheck Protection Program (PPP) and business owners’ ears perk up. Annmarie Lee, M&T Bank associate general counsel and member of our PPP Leadership team, gives us the skinny on how business owners can navigate the program. Chief Investment Officer Tony Roth also talks to our client Janet Wischnia, founder of textile business American Blossom Linens. She gives us an inside look at ho...