Randall W. Forsyth

Randall W. Forsyth

Associate Editor

LATEST ARTICLES

We Asked AI to Build a $1 Million Muni Bond Portfolio. What Happened.

We Asked AI to Build a $1 Million Muni Bond Portfolio. What Happened.

Muni investing is complex. Why a chatbot isn’t ready to replace your financial advisor.

Long Read

Warsh May Be Tested Early. It All Depends on Hormuz.

Warsh May Be Tested Early. It All Depends on Hormuz.

Kevin Warsh will face internal dissent and economic uncertainty brought on by the Iran war when he takes the reins of the Federal Reserve in May.

Long Read

A Bond Bear Market Is Brewing. 5 Ways to Make It Work in Your Favor.

A Bond Bear Market Is Brewing. 5 Ways to Make It Work in Your Favor.

Funds that specialize in credit research, adding return without taking lots of duration risk, are a better bet than run-of-the-mill bond ETFs.

Long Read

Inflation Forecasts Depend on Hormuz. So Does the Fed’s Next Move.

Inflation Forecasts Depend on Hormuz. So Does the Fed’s Next Move.

The Federal Reserve will leave interest rates unchanged until the outlook for energy prices and inflation becomes clear. It could take many months.

Long Read

The Deficit Is Exploding. Here Are Some Radical Ideas to Rein It In.

The Deficit Is Exploding. Here Are Some Radical Ideas to Rein It In.

The Trump administration’s defense-budget requests alone will put U.S. finances on a more precarious course.

Long Read

Why the Stock Market Has Held Up So Well Despite the Spike in Oil Prices

Why the Stock Market Has Held Up So Well Despite the Spike in Oil Prices

Wall Street is focused on the time to buy rather than the need to sell, which means the coming earnings season is crucial.

Long Read

Private Credit Problems Are Growing. But This Is No ‘Lehman Moment.’

Private Credit Problems Are Growing. But This Is No ‘Lehman Moment.’

The stresses in private lending are concentrated in just a few sectors and don’t impact bank balance sheets, unlike during the financial crisis.

Long Read

Why This Is ‘One of the Riskiest Moments of the 21st Century’

Why This Is ‘One of the Riskiest Moments of the 21st Century’

Stocks are falling, oil is surging, and the Fed is no longer likely to provide rate cuts. For now, cash is the only haven.

Long Read

Stocks’ Season of Discontent Could Linger Well Past Winter. Plus, Picks Among BDCs.

Stocks’ Season of Discontent Could Linger Well Past Winter. Plus, Picks Among BDCs.

Stocks are falling, inflation is growing, the Fed may be hamstrung. What else could go wrong? At least there are bargains in business development companies whose stocks were crushed.

Long Read

The Stock Market Now Drives the Economy. How Much Longer Can That Last?

The Stock Market Now Drives the Economy. How Much Longer Can That Last?

Policy decisions have fueled a bull market, which has enriched asset holders and driven consumer spending. But market cycles haven’t been permanently repealed.

Long Read

Dow 50,000, We Hardly Knew Ye. Why Stocks May Have Peaked for Now.

Dow 50,000, We Hardly Knew Ye. Why Stocks May Have Peaked for Now.

Dow 50,000 could mark an interim top as AI fears hit new industries and hopes for interest-rate cuts diminish.

Long Read

A Tech Bust Gave Way to a Broader Rally. What Comes Next Could Be Ugly.

A Tech Bust Gave Way to a Broader Rally. What Comes Next Could Be Ugly.

Well before the past week’s gyrations, the stock market’s character already had undergone a significant transformation, one that resembled what followed the dot-com boom at the end of the last century.

4 minute read

Why a Warsh Fed Won’t Lift Stocks

Why a Warsh Fed Won’t Lift Stocks

Under Trump’s candidate, the central bank will likely accommodate Uncle Sam’s spending needs.

4 minute read

After a Week of Global Turmoil and Talk, Nothing Was Solved

After a Week of Global Turmoil and Talk, Nothing Was Solved

Global stocks staged a relief rally after Trump rolled back his threat to take Greenland by force, recouping most of their earlier losses, just as they have after previous episodes.

Long Read

This Pro Is ‘More and More Bullish’ on Gold. How He’s Playing It.

This Pro Is ‘More and More Bullish’ on Gold. How He’s Playing It.

John Davi of the Astoria Real Assets ETF favors gold over other metals.

3 minute read

How the Attacks on the Fed Could Backfire

How the Attacks on the Fed Could Backfire

The Trump administration’s push for lower interest rates could forestall expected rate cuts.

Long Read

Stocks and Bonds Both Had Good Runs in 2025. Even With Fed Cuts, That’s Unlikely in 2026.

Stocks and Bonds Both Had Good Runs in 2025. Even With Fed Cuts, That’s Unlikely in 2026.

Bond yields look set to rise this year, despite the possibility of at least two Federal Reserve rate cuts. Even a small increase in yields can be a problem.

4 minute read

The Fed Is Buying Billions in T-Bills. Just Don’t Call It Quantitative Easing.

The Fed Is Buying Billions in T-Bills. Just Don’t Call It Quantitative Easing.

The Federal Reserve cast the move as management of money-market conditions. Others see coordination with the Treasury to help fund the deficit and suppress long-term yields.

4 minute read

Are Wage and Price Controls in Our Future? Outlandish Predictions for 2026.

Are Wage and Price Controls in Our Future? Outlandish Predictions for 2026.

Prognosticators offer up their views on everything from a Swifty marriage boom to the role of affordability in next year’s elections to the fates of the dollar and inflation. Why the foreseeable future is a little foggy.

Long Read

Japanese Policy Holds the Key to Global Markets, Not the Fed

Japanese Policy Holds the Key to Global Markets, Not the Fed

If Japan raises interest rates to halt the yen’s slide, liquidity will evaporate, upending stock and bond markets around the world.

4 minute read

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