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The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective primarily by investing across a variety of asset classes, including exposure to global equity securities, U.S. Treasury securities, and commodities. The Funds investment adviser seeks to invest the Funds assets to achieve exposures similar to those of the Advanced Research Risk Parity Index (the RPAR Index), a rules-based index created by Advanced Research Investment Solutions, LLC (ARIS).

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Large investors, including public pension funds, have withdrawn their investments, leading to a $70 billion decline in these funds from their peak three years ago.

Ray Dalio&#39;s Way Loses Shine As Investors Yank Out Billions From Risk-Parity Funds After Disappointing Returns: But Is It A &#39;Classic Investment Error?&#39;

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Risk-parity strategies that aim to maximize diversification across asset classes appear to have lost their appeal at a time when every asset class has suffered due to persisting global volatility.

Volatility In 2022 Made Sure Even Risk-Parity Strategies Don&#39;t Work: This ETF Has Lost Over 28% This Year

In the wake of Kamala Harris&#8216; Thursday speech at the Democratic convention, Donald Trump has refuted allegations of rambling during <a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy">his phone call with Fox News</a> that night.
What Happened: Trump defended his conversation on Sunday, stating that he was invited by Fox News for a quick interview following Harris&#8217; speech.
&#8220;Bret Baier of FoxNews called me, I didn't call him, just prior to the Kamala Convention speech, and asked me if I would like to critique her after she is finished. I agreed to do so!&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113022330103812834">posted</a> on Truth Social.
According to the report, the former president dialed into Fox News immediately after Harris&#8217; nomination acceptance speech at the Democratic National Convention last Thursday.
During the call, Trump seemed to unintentionally press buttons on his phone&#8217;s keypad while discussing Harris&#8217; speech. The call was cut short after 10 minutes due to time constraints on the network, as reported <a href="https://thehill.com/homenews/campaign/4846466-donald-trump-fox-news-kamala-harris-dnc-speech/">by</a> The Hill.
Also Read: <a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref">Trump Vs Harris: Kamala Harris Takes 8-Point Lead In New Poll, With Race And Gender Shaping Voter Preferences</a>
Trump&#8217;s call was criticized by New York Times columnist Maureen Dowd. 
Trump wrote in the post, &#8220;Bret Baier of FoxNews called me, I didn't call him, just prior to the Kamala Convention speech, and asked me if I would like to critique her after she is finished. I agreed to do so! — I thought it was nonspecific and weak, with no fracking, crime, inflation or anything else of interest even mentioned. Delivery was a C+, with far too many and speedy &#8216;thank you's&#8217; at the beginning,&#8221;
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&#8220;It was &#8216;WEIRD!&#8217; Likewise, I didn't call other media outlets that asked me to go on, they called me. The Fake News, like often &#8216;gilted&#8217; Maureen Dowd of the failing New York Times, wrote incorrectly that I was making the calls. WRONG!!! I don't have to make calls to go on TV, or anything else — They call me! It's called Ratings, I guess, and I'm the &#8216;Ratings Machine!&#8217; he added.
Why It Matters: This incident underscores the ongoing tension between Trump and the media, a relationship that has been fraught with accusations of misinformation and bias. 
Trump&#8217;s response to the criticism also highlights his continued influence and media appeal, even after leaving office.
As the political landscape continues to evolve, the dynamics between public figures and media outlets remain a critical aspect of public discourse.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Politics

Donald Trump Says Fox News Called Him For DNC Interview, Brands Himself 'Ratings Machine'

Grant Cardone, a prominent entrepreneur and real estate mogul, has a strong message: You don't need a college degree to get rich in America. In a recent <a href="https://www.youtube.com/watch?v=FtEkZNY0HsE">interview</a>, Cardone argued that while college can offer some advantages, it often results in significant debt that weighs down the average American instead of boosting their financial future.
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Cardone points out that big companies like Facebook and Google no longer require a college degree for many jobs, showing that having a degree isn't as important as it used to be. While having a degree can help you <a href="https://www.benzinga.com/news/23/08/34014395/is-a-college-degree-worth-it-new-study-on-student-loans-shows-stark-differences">earn more money over your lifetime</a>, Cardone argues that it often comes with massive student loan debt. He even compares this debt to modern-day slavery, trapping people in financial struggles for years.
The debt might be worth it for those who go to Ivy League universities because they usually land high-paying jobs. However, the debt can be overwhelming for many who attend less-known colleges and doesn't necessarily lead to better financial opportunities.
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Cardone believes in the adage that time is money, and spending years in college is not the best use of your time, especially if it means going into debt. He suggests that young people might be better off using that time to build practical skills, network, and gain experience that can lead to success without the burden of student loans.
And even though he opposes going to college for most people, he did finish college and earned a degree in accounting from McNeese State University in Louisiana.&nbsp;
Cardone is especially critical of how the education system has promoted college as the only way to succeed, particularly for minority communities. With $1.6 trillion in student loan debt across the U.S., many people find it hard to pay off their loans. He asked the interviewer, &#8220;AI is right around the corner. Would you go to college today? I wouldn&#8217;t.&#8221;
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His views are similar to successful entrepreneurs who also question the need for a college degree. For example, billionaire <a href="https://www.benzinga.com/personal-finance/24/04/38319479/elon-musk-thinks-college-is-basically-for-fun-and-to-prove-that-you-can-do-your-chores-says-degr">Elon Musk said college isn't about learning</a>. Gary Vaynerchuk, a popular business figure, points out that there are countless free ways to learn about business, making college unnecessary for many people who want to start their ventures.
Data from 2016 shows that nearly a third of billionaires, like Bill Gates and Mark Zuckerberg, didn't finish college. This shows that while college can be helpful, it's not the only way to succeed. Conversely, that also means that two-thirds of billionaires did finish college.&nbsp;
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Personal Finance

To Get Rich In America, You Do Not Need A College Degree Says Grant Cardone – 'It Helps Put People In Debt'

<a href="https://news.sky.com/story/unilever-rations-skincare-portfolio-with-kate-somerville-sale-13203323?dcmp=snt-sf-twitter" title="https://news.sky.com/story/unilever-rations-skincare-portfolio-with-kate-somerville-sale-13203323?dcmp=snt-sf-twitter">https://news.sky.com/story/unilever-rations-skincare-portfolio-with-kate-somerville-sale-13203323?dcmp=snt-sf-twitter</a>

Asset Sales

Sky News Reported Unilever Is Working With Advisers On Sale Kate Somerville Skincare Brand It Acquired In 2015

Renowned investor Bill Miller III continues to show his unwavering support for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) despite the cryptocurrency&#8217;s market volatility.
What Happened: In a recent interview with Forbes, Miller shared his investment strategies and his views on the current market. 
Miller, who began co-managing Legg Mason Value Trust in 1982 and later assumed the role of solo manager in 1990, has a track record of making early investments in hyper-growth stocks like America Online and Amazon.com. His annual performance surpassed the S&amp;P 500 Index for 15 consecutive years from 1990 through 2005.
After parting ways with Legg Mason, Miller allocated 1% of his personal portfolio into Bitcoin in 2012, when the cryptocurrency was valued at around $700. Bitcoin now trades near $60,000 per coin.
Miller&#8217;s son, Bill Miller IV, currently manages Miller Value Partners, overseeing approximately $290 million in assets through the Miller Income (LMCJX) mutual fund and two ETFs: Miller Value Partners Appreciation (MVPA) and Miller Value Partners Leverage (MVPL).
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39020792/bitcoin-to-hit-1-million-in-next-10-to-18-months-says-crypto-analyst-were-still-so-early-i" target="_blank" rel="noreferrer noopener">Bitcoin To Hit $1 Million In Next 10 To 18 Months, Says Crypto Analyst: ‘We're Still So Early In The Bitcoin Story'</a>
In <a href="https://www.forbes.com/sites/johndobosz/2024/08/24/why-legendary-investor-bill-miller-still-loves-bitcoin---and-3-ways-to-beat-the-market/">the</a> interview, Miller shared his insights on how he consistently outperformed the market for over a decade and discussed opportunities in the current market. He also spoke about his early life, his time in the Army, and his journey into the world of investing.
Miller highlighted Bitcoin as one of his most successful investments, stating, &#8220;I bought Bitcoin (BTC) around $200 at the start, and I think my average cost from 2012 to 2024 is around $700. It's the only economic entity where the supply is unaffected by the demand or the price. All you have to believe is that the demand for Bitcoin will grow faster than the supply.&#8221;
&#8220;I would suggest that you consider putting 1% of your liquid assets into Bitcoin, and then forget about it. You could lose all your money but look how much it's gone up in the last two years. You have nothing that has gone up as much as Bitcoin in the past two years. I said, let's have lunch together and talk about this thing. Bitcoin is an insurance policy against financial catastrophe, against inflation, against the types of things we saw during the pandemic,&#8221; he added during the interview. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39447328/anthony-scaramucci-says-crypto-will-soar-if-this-presidential-candidate-wins-the-election-">Anthony Scaramucci Says Crypto Will Soar If This Presidential Candidate Wins The Election: &#8216;I Think We&#8217;ll See All-Time Highs For Bitcoin And Other Assets&#8217;</a>
He also shared his investment philosophy, emphasizing the importance of understanding what is happening in the market rather than trying to predict future trends. Miller believes that investors need to have an edge, which can come from information, analysis, or behavior.
&#8220;The Fed had to flood the system to keep the Treasury market functioning, but nobody had to come in and bail out bitcoin. You can't bail it out. I would predict that within the next three to five years, a majority of advisors will advise people to have 1% to 3% of assets in Bitcoin,&#8221; Miller said. 
Why It Matters: Miller&#8217;s continued support for Bitcoin, despite its market volatility, underscores his belief in the cryptocurrency&#8217;s potential. His early investment in Bitcoin, when it was valued at around $700, has proven to be a smart move, with the cryptocurrency now trading near $60,000 per coin.
Miller&#8217;s investment philosophy, which emphasizes understanding the market rather than predicting future trends, has served him well throughout his career. 
His belief that investors need to have an edge, whether it comes from information, analysis, or behavior, provides valuable insight for those looking to succeed in the investment world.
Read Next:&nbsp;
<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39241558/analyst-predicts-bitcoin-to-reach-groundbreaking-100-000-milestone" target="_blank" rel="noreferrer noopener">Analyst Predicts Bitcoin To Reach Groundbreaking $100,000 Milestone</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Despite Market Jitters, Investor Bill Miller Stands Firm On Bitcoin: 'An Insurance Policy Against Financial Catastrophe'

Mark Cuban, the billionaire entrepreneur and minority owner of the NBA&#8217;s Dallas Mavericks, has reiterated his endorsement of Kamala Harris, seeing a fresh <a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref">trajectory for the Democratic Party under her leadership</a>.
What Happened: Cuban commended Harris for her business-friendly approach and her dedication to elevating the middle class. This followed the Democratic National Convention in Chicago.
Cuban, an early advocate of Harris, praised her for her open-mindedness and non-ideological stance. He also acknowledged her initiatives to back small businesses and entrepreneurs, and to cut down costs in healthcare, groceries, and housing sectors.
Speaking <a href="https://www.businessinsider.com/mark-cuban-sees-new-democratic-party-under-kamala-harris-2024-8">with</a> Business Insider, Cuban said that he wanted an open-minded leader who wouldn&#8217;t be an &#8220;ideologue&#8221; while in office.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy" target="_blank" rel="noreferrer noopener">Kamala Harris And Donald Trump Clash Over Federal Reserve&#8217;s Autonomy</a>
The billionaire entrepreneur also defended Harris&#8217; economic strategies around subsidies for first-time homeowners and a federal prohibition on price-gouging. He lauds her push for discussions on healthcare transparency and cryptocurrency regulation.
In a post on X, Cuban said, &#8220;Talking to stakeholders is the first step towards understanding what makes the economy work, or not work, from pricing to growth.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Talking to stakeholders is the first step towards understanding what makes the economy work, or not work , from pricing to growth. " I will bring together labor and workers and small business owners and entrepreneurs and american companies to create jobs to grow our economy… <a href="https://t.co/1OeAsV1Nz2">https://t.co/1OeAsV1Nz2</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1827013721966686428?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Contrasting Harris with Donald Trump, Cuban underscored Harris&#8217; self-awareness and readiness to listen to businesses, ranging from small local stores to industry behemoths.
&#8220;One of the things that makes KH stand apart from the republican nominee is that she is self aware. She knows what she doesn&#8217;t know and is willing to listen to business, from the smallest corner yogurt shop to the giants of industry,&#8221; Cuban told the outlet. 
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Following the convention, Cuban expressed on social media that Harris is reshaping the Democratic Party with her unique policies.
Why It Matters: Cuban&#8217;s backing of Harris signifies a potential shift in the Democratic Party&#8217;s approach towards business and economic policies.
His support also highlights the increasing importance of issues such as healthcare transparency and cryptocurrency regulation in shaping the future political landscape. 
The impact of Harris&#8217; policies on small businesses and entrepreneurs, as well as on the middle class, will be crucial in determining the direction of the Democratic Party under her leadership.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mark Cuban Backs Kamala Harris, Seeing A New Business-Friendly Democratic Party

These eight large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Tamboran Resources Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TBN#NYSE">TBN</a>) stock fell 13.84% last week.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) stock was down 12.37%. Recently, the gold mining sector <a href="https://www.benzinga.com//node/40424535" target="_blank" rel="noreferrer noopener">saw M&amp;A activity</a>.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) shares tumbled 10.82% after the company reported second-quarter results, and several analysts lowered their <a href="https://www.benzinga.com//node/40511947" target="_blank" rel="noreferrer noopener">price targets on the stock</a>.</li>
<li>NetEase, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) stock dived 9.30% after the company reported worse-than-expected <a href="https://www.benzinga.com//node/40502799" target="_blank" rel="noreferrer noopener">second-quarter sales results</a>.</li>
<li>Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) shares declined 8.12% after the company announced that Michael Buchanan had been appointed as its new Chief Investment Officer due <a href="https://www.benzinga.com//node/40497028" target="_blank" rel="noreferrer noopener">to CIO Ken Leech&#8217;s leave of absence</a>.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares were down 7.74% after Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) revealed plans to divest <a href="https://www.benzinga.com//node/40531142" target="_blank" rel="noreferrer noopener">its stake in the company</a>.</li>
<li>Temu parent PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) stock declined 7.18% last week after China&#8217;s central bank left its one-year and five-year loan prime rates unchanged at 3.35% and 3.85%, respectively. The stock also <a href="https://www.benzinga.com//node/40532929" target="_blank" rel="noreferrer noopener">faced selling pressure</a> ahead of second-quarter earnings.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) <a href="https://www.benzinga.com//node/40528702" target="_blank" rel="noreferrer noopener">shares plummeted 5.77%</a>.</li>
</ol>
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Photo via Shutterstock

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NTES

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SNOW

Snowflake, JD.com And Temu Parent PDD Are Among Top 8 Large Cap Losers Last Week (Aug 18-Aug 24): Are The Others In Your Portfolio?

Walmart&#8217;s second-quarter sales were stronger than expected, boosting optimism that a<a href="https://www.benzinga.com/personal-finance/24/08/40424315/robert-kiyosaki-says-that-most-americans-dont-know-how-to-prepare-for-global-recession-we-as-a-w"> U.S. recession</a> could be averted. This was quite the opposite of what Home Depot told investors some time ago. The good news from the world&#8217;s biggest retailer helped restore confidence among investors and other analysts.
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Walmart – probably the best gauge of American spending, as it took one dollar in every twelve spent by shoppers in U.S. stores during the quarter – announced that sales went up 4.2% in the quarter to June. These results were much better than expected, and the company&#8217;s shares rose by 6% in early trading. That rally follows more than 30% year-to-date gains in Walmart&#8217;s shares, which generally set the tone for the broader economy.
Walmart CEO Doug McMillon further instilled confidence in retailer performance and the overall economic outlook on an earnings call with analysts. &#8220;We&#8217;re not seeing a weaker consumer overall,&#8221; he said, pointing out that consumers can still spend resiliently despite ongoing economic challenges.
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He also emphasized that Walmart can maintain strong sales without slowdowns in other industries. The better-than-expected outcome has led the company to increase its expectations for the remainder of the year, underpinning confidence in the U.S. economy&#8217;s capacity to avoid a downturn.
That Walmart news was timely and gave the stock market a much-needed boost, with the S&amp;P 500 gaining 1.5% and the Nasdaq surging 2.3%. Investors are optimistic that the economy can bounce back, and some analysts speculate that the Federal Reserve will cut interest rates as early as September. The possibility of rate cuts added to the momentum of the market&#8217;s trajectory, given that lower interest rates would support the economy.
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&#8220;We&#8217;re back to an environment where good news is good news and bad news is bad news,&#8221; said Bret Kenwell, an analyst at eToro. He noted that while investors and consumers cheer for lower inflation, it shouldn&#8217;t come at the cost of the economy.&nbsp;
Kenwell added that robust retail sales – tempering fears of an imminent recession – might give the Fed more time before deciding on rate cuts. He mentioned that the Fed is walking a tightrope between fighting off inflationary pressures and boosting economic growth.
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In marked contrast, Home depot issued a less encouraging report, warning that sales slid 3.6% in the last quarter due to fears of increasing <a href="https://www.benzinga.com/real-estate/24/06/39550558/housing-costs-and-interest-rates-are-weighing-heavily-on-consumer-minds-study-finds">interest rates</a> straining consumers. The home improvement giant attributed the bad performance to consumer pullback in renovation spending. An earlier warning from Home Depot had added to fears of a possible recession in the U.S. economy, with higher borrowing costs and tighter budgets straining consumers. Those fears, though, have been eased by the upbeat figures from Walmart and data on recent jobless claims.
According to the Commerce Department, U.S. retail sales surged by 1% in July – the largest since January 2023 – with gains in autos, electronics, and appliances. This indicates that the typical American consumer was perhaps more resilient than some had feared.
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Walmart Just Dropped a Major Hint: Is A U.S. Recession Closer Than You Think? Home Depot's Dire Warning Adds Fuel To The Fire

These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>CAVA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) stock gained 25.55% in the last week on better-than-expected Q2 results and raised its FY24 adjusted EBITDA outlook. Also, multiple firms raised their respective <a href="https://www.benzinga.com//node/40528470" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) shares jumped 19.90% after the company reported better-than-expected <a href="https://www.benzinga.com//node/40495102" target="_blank" rel="noreferrer noopener">second-quarter results</a>.</li>
<li>Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>) stock rose 14.29% after it reported better-than-<a href="https://www.benzinga.com//node/40490979" target="_blank" rel="noreferrer noopener">expected&nbsp;third-quarter results</a>.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) shares were up 14.05% after the company reported better-than-expected&nbsp;third-quarter results and issued FY24 EPS&nbsp;<a href="https://www.benzinga.com//node/40474111" target="_blank" rel="noreferrer noopener">guidance&nbsp;above estimates</a>. Many analysts increased the <a href="https://www.benzinga.com//node/40511410" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>MicroStrategy Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock gained 13.09% last week amid a rise in Bitcoin&#8217;s price.</li>
<li>Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) gained 13.05% on better-than-expected Q2 earnings and the approval of an additional <a href="http://better-than-expected Q2 financial results and" target="_blank" rel="noreferrer noopener">$1 billion stock buyback</a>.</li>
<li>Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) stock upped 12.09% following strong July new Home Sales economic data. The Fed&#8217;s indication of interest rate cuts also contributed.</li>
<li>Korea Electric Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEP#NYSE">KEP</a>) shares were up 10.59%.</li>
<li>TopBuild Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>) stock gained 9.92% in the last week, along with other homebuilder stocks that were up following strong New Home Sales economic data for July. Fed&#8217;s indication of interest rate cuts also played a part.</li>
<li>Advanced Drainage Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMS#NYSE">WMS</a>) stock was up 9.87%, along with other construction and homebuilder stocks, following strong July new Home Sales economic data and the Fed&#8217;s indication of interest rate cuts.</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares increased 9.75% after the company reported better-than-expected second-quarter<a href="https://www.benzinga.com//node/40492278" target="_blank" rel="noreferrer noopener"> results and raised its outlook</a>. Several analysts boosted <a href="https://www.benzinga.com//node/40514323" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/24/08/40543907/snowflake-jd-com-and-temu-parent-pdd-are-among-top-8-large-cap-losers-last-week-aug-18-aug-24-are-">Snowflake, JD.com And Temu Parent PDD Are Among Top 8 Large Cap Losers Last Week (Aug 18-Aug 24): Are The Others In Your Portfolio?</a></li>
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Image via Shutterstock

BLDR

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WDAY

Zoom Video, MicroStrategy And Target Were Among Top 11 Large Cap Gainers Last Week (Aug 18-Aug 24): Are The Others In Your Portfolio?

Robert Kennedy Jr. formally announced Friday his <a href="https://www.benzinga.com/general/politics/24/08/40535286/rfk-jr-suspends-2024-presidential-campaign-endorses-trump-to-block-democrats-from-white-house">decision to suspend his campaign</a> and back Donald Trump. He also said he would remove his name form the ballot in 10 battleground states. But famed polling data analyst Nate Silver says the election continues to trend toward Kamala Harris despite this development.
What Happened: Kennedy&#8217;s name will be on the ballot in many other red and blue states and his swing state efforts may not be entirely successful, <a href="https://www.natesilver.net/p/we-removed-rfk-jr-from-our-model?utm_source=post-email-title&amp;publication_id=1198116&amp;post_id=148088803&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=rkloa&amp;triedRedirect=true&amp;utm_medium=email">said</a> Silver on his Silver Bulletin Substack on Saturday. Silver said that it may be too late for Kennedy to call it quits in swing states such as Wisconsin and North Carolina.
In North Carolina, the first state to begin early voting, Kennedy&#8217;s name has already been physically printed on the ballots in around 30 counties, Silver noted.
On Silver&#8217;s national polling average, both Harris and Trump have both improved, from 48% to 48.8% for Harris and from 43.7% to 44.8% for Trump.
Citing the most recent update to his model, Silver said Harris has begun to see a convention bounce. Even with the Kennedy exit, Harris was now ahead by four points to the national average versus her 2.3 points lead when the Democratic National Convention started.
&#8220;Our best guess is that her lead will increase further, especially given that almost none of the polling was done after her&nbsp;strong acceptance speech on Thursday,&#8221; Silver said.
&#8220;Harris is at around 53 percent to win the Electoral College, the same as in recent days,&#8221; he added.
See Also: <a href="https://www.benzinga.com/news/24/08/40541344/scaramucci-blown-away-by-kamala-harris-dnc-speech-questions-whether-trump-is-american-putin-with-his">Scaramucci Blown Away By Kamala Harris&#8217; DNC Speech, Questions Whether Trump Is &#8216;American Putin&#8217; With His Divisive Approach</a>
What&#8217;s Next: Despite having the momentum in her favor, Harris has several hurdles ahead. Anthony Scaramucci, who briefly served as White House Communications Director under Trump, said this week that Harris has been in the race for more than 30 days without addressing questions from the media. She is yet to parry questions regarding many policy issues including fracking and tax on unrealized capital gains, he added
Polling analytics firm Gallup said <a href="https://www.benzinga.com/news/24/08/40525794/trump-vs-harris-new-poll-shows-vice-presidents-favorability-surges-by-double-digits-as-rivals-slips">the next major test would be the Sept. 10 debate</a>, as it would be important in determining whether opinions of her improve, stay the same or worsen in the final months of the presidential campaign.
Economist and former Treasury Secretary Larry Summers said in an interview with Bloomberg on Friday that if Harris were to be elected, the broader economic strategy is going to be one that is all about opportunity. Those opposing her have taken potshots at her proposal for clamping down on price gouging, and her plan to tax unrealized capital gains, which they say would deter long-term holding strategy.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Photo: Wikimedia Commons

Nate Silver Sees Convention Bounce Nearly Doubling Kamala Harris' Lead Vs. Donald Trump: Here's Why He Expects Vice President's Lead To Increase Further

As of Aug. 15, J.P. Morgan Research indicates that the probability of a <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40439485/goldman-sachs-cuts-us-recession-odds-to-20-reverses-earlier-increase-as-economic-">U.S. and global recession</a> in 2024 has hit 35%, up from their 25% midyear estimate. While inflation seems to be slowing down, signs of weakening economic growth and a softer-than-expected labor market are key drivers behind this increased probability. Here's a closer look at the factors driving these concerns and what they might mean for interest rates and the broader economy.
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The <a href="https://www.benzinga.com/24/07/40066427/us-private-employment-rises-by-122-000-in-july-misses-estimates-if-inflation-goes-back-up-it-wont-be">July jobs report</a> was a key indicator of the changing economic landscape. The report revealed an increase in the unemployment rate for the fourth month in a row, suggesting that the labor market, which remained resilient for most of the past year, is beginning to soften. This weakening in labor demand has prompted J.P. Morgan to reassess its growth forecast, now seeing greater recession risks.
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Bruce Kasman, Chief Global Economist at J.P. Morgan, highlighted the factors contributing to this updated outlook. "U.S. news hints at a sharper-than-expected weakening in labor demand and early signs of labor shedding," Kasman stated. Additionally, global manufacturing and the euro area have shown a loss of momentum, areas that were previously expected to drive growth.
However, Kasman pointed out that key recession vulnerabilities – such as sustained profit margin compression, credit market stress, and energy or financial market shocks – are still absent. These factors have led J.P. Morgan to only slightly increase their recession probability assessment, moving it to 35%.
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Looking further ahead, J.P. Morgan has maintained the probability of a recession by the end of 2025 at 45%. While the <a href="https://www.benzinga.com/news/24/08/40431747/trump-vs-harris-new-polls-indicate-a-shift-in-the-political-landscape-and-this-candidate-is-taking-t">political landscape</a> remains uncertain, the overall assessment of long-term recession risks remains steady.
<a href="https://www.benzinga.com/news/24/07/39722599/inflation-is-falling-like-a-rock-says-market-strategist-ahead-of-june-cpi-data-heres-why-he-thinks-m">Inflation</a>, a significant concern over the past year, has been cooling, prompting a reassessment of the Federal Reserve's interest rate strategy. J.P. Morgan now sees a 30% chance that the Fed will maintain high interest rates for an extended period, a decrease from 50% just two months ago. This shift reflects a changing economic environment, where strong supply-side performance and moderating labor demand ease inflationary pressures.
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Kasman explained, "The modest increase in our assessment of recession risk contrasts with a more substantial reassessment we are making to the interest rate outlook."&nbsp;
It's important to note that this anticipated rate reduction might not be mirrored globally. The risk shift on inflation appears to be U.S.-centric, and other economies may not experience the same policy adjustments. "Our experience shows that the pass-through of Fed policy changes to other economies is limited in the absence of a synchronized shift in macroeconomic fundamentals and financial market conditions," Kasman noted. "As a result, there is a good chance that the shift away from gradualism we now expect from the Fed will not be reflected more broadly."&nbsp;
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While the probability of a recession has increased, it's wise to consider the broader economic context. Although risks are rising, particularly in the labor market, other recession indicators are not flashing red.&nbsp;
Despite the risks of a recession, many positive things are still happening in the global economic environment. Eric Freedman, chief investment officer for U.S. Bank Wealth Management, says, "We still think this is a very positive investment environment. This is a well-telegraphed, slowing economy. If we felt there was a structural economic shift underway, we'd come to a different conclusion."
As always, it's important to plan carefully while navigating economic uncertainties. For those concerned about the implications of these developments on their financial future, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can provide personalized strategies to safeguard your assets and achieve your long-term goals.
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35% Recession Probability In 2024: Why J.P. Morgan Sees Growing Risks Despite Cooling Inflation

The long-standing friendship between billionaires Bill Gates and Warren Buffett has seen a <a href="https://www.benzinga.com/news/24/08/40147612/new-book-claims-bill-gates-was-banned-from-being-alone-with-interns-at-microsoft">significant downturn in recent years</a>.
What Happened: The friendship between Gates and Buffett, two of the world&#8217;s wealthiest individuals, has its roots in 1991. This relationship, which resulted in numerous joint ventures and philanthropic initiatives, has reportedly cooled both on a professional and personal level.
Despite initial hesitations, the two formed a strong bond and mutual mentorship. Gates even persuaded Buffett to invest in stocks of Intel and Microsoft, thereby initiating their business partnership, reports <a href="https://www.businessinsider.com/bill-gates-warren-buffett-friendship-history-fallout">the</a> Business Insider.
Gates became a part of Berkshire Hathaway&#8217;s board in 2004, but Buffett never reciprocated by joining Microsoft&#8217;s board or investing in the tech giant, citing their close friendship as a potential conflict of interest.
Together, they launched several philanthropic projects, including The Giving Pledge in 2010, which urges billionaires to give away the majority of their wealth to charity. So far, pledges amounting to approximately $600 billion have been made.
Also Read: <a href="https://www.benzinga.com/news/24/08/40151169/how-a-holiday-meeting-sparked-a-billion-dollar-friendship-between-bill-gates-warren-buffett">How A Holiday Meeting Sparked A Billion-Dollar Friendship Between Bill Gates &amp; Warren Buffett</a>
However, over time, their relationship began to sour. Buffett reportedly felt that the Gates Foundation had become too bureaucratic, thereby impeding its philanthropic effectiveness. He was also reportedly disheartened by instances of Gates&#8217; rudeness.
Buffett&#8217;s commitment to the foundation appears to have lessened following Gates&#8217; divorce in 2021 and his subsequent resignation from the three-person board at the Bill and Melinda Gates Foundation. Notably, in his posthumous wealth distribution plans, Buffett did not mention the Gates Foundation.
While Gates used to frequently write about Buffett on his blog, his recent posts have been strictly business-oriented, further suggesting a cooling of their friendship.
Why It Matters: The Gates-Buffett friendship has been a cornerstone of several significant business and philanthropic initiatives over the past three decades. 
Their recent estrangement could potentially impact future collaborations and philanthropic endeavors. 
The absence of the Gates Foundation in Buffett&#8217;s wealth distribution plans also raises questions about the future direction of one of the world&#8217;s largest charitable organizations.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Is The Bill Gates-Warren Buffett Bond Broken?

A new Schroders survey reveals a <a href="https://www.benzinga.com/topic/retirement">paradox among pre-retirees</a>: while half are concerned about outliving their assets, 43% plan to claim Social Security before age 67, the full retirement age for those born in 1960 or later.
Only 10% of survey respondents plan to wait until 70 to maximize their monthly benefit, and the respondent who had not yet retired estimated needing $4,947 monthly for a comfortable retirement, according to <a href="https://www.thinkadvisor.com/2024/08/23/pre-retirees-worry-about-their-future-but-still-plan-to-take-social-security-early/">thinkadvisor</a>.
Despite 74% knowing that delaying Social Security increases payments, many plan early claims due to:
<ul>
<li>Needing the money (39%)</li>
<li>Concerns about Social Security&#8217;s future (38%)</li>
<li>Wanting immediate access (36%)</li>
</ul>
Deb Boyden, head of U.S. defined contribution at Schroders, emphasizes that delaying benefits can significantly impact quality of life during retirement.
Also Read:<a href="https://www.benzinga.com/news/24/08/40535630/small-caps-set-to-lead-their-large-cap-brothers-for-rest-of-2024-says-market-strategist"> Small Caps Set To &#8216;Lead Their Large Cap Brothers&#8217; For Rest Of 2024, Says Market Strategist</a>
The survey, conducted among 2,000 U.S. investors aged 28-79, also found that 88% are concerned about generating retirement income, 57% worry about losing regular paychecks and only 10% are confident they can replace 75% of their last paycheck in retirement.
Even worse, among retirees, 53% lack specific income generation strategies, simply withdrawing money as needed.
Boyden notes the challenging transition from accumulation to decumulation, suggesting that plan sponsors and asset managers collaborate on solutions bridging these phases.
The survey highlights a disconnect between retirement concerns and Social Security claiming strategies, underscoring the need for better education and planning tools to help pre-retirees optimize their retirement income, marking a huge opportunity for advisors.
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Half Of Pre-Retirees Worried About Running Out Of Money, Plan To Retire Early Anyway

The <a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy">upcoming presidential election</a> has stirred political advocacy among Silicon Valley&#8217;s tech investors.
What Happened: A few weeks ago, several tech investors approached a partner at an early-stage venture capital firm, requesting her endorsement for Vice President Kamala Harris through the advocacy group VCs for Kamala. The partner declined, not due to lack of support for Harris, but to avoid publicizing her political stance.
According to a report <a href="https://www.businessinsider.com/election-a-distraction-silicon-valley-wants-to-be-over-2024-8">by</a> Insider, political advocacy, particularly for Republicans, was once considered taboo in the tech industry. However, a shift has been observed with Republicans in tech becoming more vocal about their views, leading to Democrats increasing their support for Harris.
Elon Musk&#8216;s recent endorsement of Donald Trump and subsequent social media interview with the former president exemplify this change. Other notable endorsements for Trump have come from prominent VCs Marc Andreessen, Ben Horowitz, Doug Leone, and David Sacks.
Also Read: <a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref">Trump Vs Harris: Kamala Harris Takes 8-Point Lead In New Poll, With Race And Gender Shaping Voter Preferences</a>
&#8220;The majority of Silicon Valley, whether entrepreneurs or investors, has always been and remains broadly liberal. I have no reason to believe any of that has shifted,&#8221; David Hornik, an investor at Lobby Capital and August Capital, told the outlet. 
In response to the perceived shift towards the right, liberal voices such as LinkedIn cofounder Reid Hoffman, Netflix cofounder Reed Hastings, and venture investor Ron Conway have reaffirmed their support for Harris. More than 800 investors have now signed onto VCs for Kamala.
&#8220;There&#8217;s been an airing of grievances that we don&#8217;t normally see out there,&#8221; Leslie Feinzaig, founder of VCs for Kamala, said. 
&#8220;I cannot believe that I, of all people, became a political spokesperson. We had a no politics rule at Graham and Walker. We try to just respect all views,&#8221; Feinzaig added. 
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Despite the political stir, those in the tech industry stress that business remains their primary focus. The election, however, has impacted decision-making processes and has been blamed for a slow summer of deal-making. The election noise has also led to some companies delaying their plans to go public until after November.
Why It Matters: The shift in political advocacy within Silicon Valley is indicative of a broader change within the tech industry. As political lines become more blurred, the impact on business decisions and the overall industry landscape is becoming more apparent. 
The increased political involvement from tech leaders and investors could potentially influence the direction of policy and regulation within the tech sector, particularly in areas such as privacy, antitrust, and data protection. 
Furthermore, the political divide could potentially impact the collaborative spirit that has been a hallmark of Silicon Valley, potentially leading to a more fragmented tech ecosystem.
Read Next:
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Silicon Valley Gets Political As Presidential Election Nears

As the week wraps up, the tech world has been buzzing with intriguing developments. From Boston Dynamics&#8217; humanoid robot, Atlas, showing off its warm-up routine to Tesla&#8217;s AI prowess being hailed by Elon Musk&#8217;s biographer, there&#8217;s plenty to catch up on. Let&#8217;s dive into the top stories that made headlines over the week.
Boston Dynamics&#8217; Atlas Flexes its Muscles
Boston Dynamics&#8217; humanoid robot, Atlas, is back in the spotlight with a warm-up video that has garnered over 716,000 views on X. The video, shared by Boston Dynamics on X, shows Atlas performing push-ups as part of its &#8220;quick warm-up before work&#8221;.
<a href="https://www.benzinga.com/news/24/08/40524308/should-elon-musk-be-worried-after-grooving-and-backflipping-this-tesla-optimus-rival-is-back-with-a">Read the full article here.</a>
Tesla&#8217;s AI Edge
Ashlee Vance, biographer of Elon Musk, cited an unnamed AI expert to highlight Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8217;s significant advantage in bridging AI and the physical world, thanks to its factories. Vance shared the expert&#8217;s opinion on X, stating that none of the other companies can follow Tesla&#8217;s lead in this regard.
<a href="https://www.benzinga.com/news/24/08/40427999/elon-musks-biographer-cites-unnamed-ai-expert-to-note-that-tesla-has-massive-edge-on-bridge-between">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/general/gaming/24/08/40472835/take-two-interactive-software-shares-are-trading-higher-today-whats-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Take-Two Interactive Software Shares Are Trading Higher Today: What&#8217;s Going On</a>
Broadcom&#8217;s Major AI Wins
Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) has secured significant victories with two major AI ASIC programs, according to JPMorgan&#8217;s Harlan Sur. The company has won OpenAI&#8217;s first and second-generation AI ASIC programs and added a fifth major AI ASIC customer, solidifying its leadership in the AI space.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40505439/broadcom-secures-major-wins-with-openai-google-meta-as-it-targets-150b-ai-market">Read the full article here.</a>
Amazon&#8217;s AI Assistant Saves Big
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy revealed that their AI assistant, Amazon Q, has significantly reduced software upgrade times, saving the company $260M and 4.5K developer-years of work. Amazon Q has been integrated into the company&#8217;s internal systems to streamline foundational software updates.
<a href="https://www.benzinga.com/markets/equities/24/08/40524790/amazon-ceo-andy-jassy-says-companys-ai-assistant-has-saved-260m-and-4-5k-developer-years-of-work">Read the full article here.</a>
Nvidia&#8217;s Stock Volatility
Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have seen some volatility in recent sessions. Wall Street trader and market analyst, Steve Grasso, revealed that he has sold his position in Nvidia and will decide on re-entering based on the stock&#8217;s price action.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40479226/nvidia-down-about-10-from-all-time-highs-prominent-trader-says-he-has-cashed-out-of">Read the full article here.</a>
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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TSLA

Boston Dynamics' Atlas, Tesla's AI Edge, Amazon's Q AI Assistant, And More: This Week In Artificial Intelligence

As the week rolled in, the world of cryptocurrencies saw a flurry of activity. From market surges to political tensions, the crypto landscape was anything but dull. Here&#8217;s a quick round-up of the top stories that made headlines.
Bitcoin, Ethereum, and Dogecoin Witness &#8216;Golden Cross Formation&#8217; &#8211; The cryptocurrency markets traded higher on Friday following hints from Federal Reserve Chair Jerome Powell about a potential shift towards cutting interest rates. <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40535473/bitcoin-ethereum-dogecoin-welcome-the-weekend-with-golden-cross-formation-trader-says-cycl">Read the full article here.</a>
Ron Conway Cuts Ties With Pro-Crypto PACs &#8211; Prominent Democratic donor Ron Conway announced his decision to sever ties with a coalition of influential cryptocurrency super PACs. This move came after the PACs committed $12 million to opposing Sen. Sherrod Brown (D-Ohio), a decision Conway claims he was not informed about in advance. <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40463538/top-democratic-donor-ron-conway-cuts-ties-with-pro-crypto-pacs-over-unseating-senator-sher">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40535473/bitcoin-ethereum-dogecoin-welcome-the-weekend-with-golden-cross-formation-trader-says-cycl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Welcome The Weekend With &#8216;Golden Cross Formation,&#8217; Trader Says &#8216;Cycle Can Trump The 2016-2017 Cycle&#8217;</a>
Sen. Cynthia Lummis Doubts Kamala Harris&#8217; Crypto Support &#8211; Sen. Cynthia Lummis (R-Wyo.), a known cryptocurrency and Bitcoin advocate, claimed there is nothing to suggest that Democratic presidential candidate Kamala Harris will support the industry. Lummis contrasted the Democratic Party&#8217;s stance with the Republican Party platform, which pledged to protect and promote cryptocurrency activities in the country. <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40499269/pro-bitcoin-senator-cynthia-lummis-says-not-a-single-indication-that-kamala-harris-would-b">Read the full article here.</a>
Crypto Industry Invests $119M in 2024 Elections &#8211; The cryptocurrency industry has reportedly committed a staggering $119 million to the 2024 presidential election, in a coordinated effort to boost industry-friendly candidates. Major companies, primarily Coinbase and Ripple, have channeled the majority of these funds, almost exclusively into super political action committees (PAC) dedicated to promoting pro-cryptocurrency candidates. <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40498543/amid-heated-trump-harris-battle-crypto-industry-pours-unprecedented-119m-into-2024-electio">Read the full article here.</a>
Anthony Scaramucci Foresees Bitcoin Hitting $100K &#8211; Anthony Scaramucci, the CEO of investment firm SkyBridge Capital, expressed optimism about Bitcoin's progress this year and hopes the leading cryptocurrency will reach $100,000. Scaramucci recalled how Bitcoin was "decimated" in the fall of 2022 and how the regulatory approval of ETFs earlier this year helped boost demand and sentiment. <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40520433/former-trump-aide-anthony-scaramucci-believes-bitcoin-could-still-hit-100k-its-a-future-st">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40498543/amid-heated-trump-harris-battle-crypto-industry-pours-unprecedented-119m-into-2024-electio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Heated Trump-Harris Battle, Crypto Industry Pours &#8216;Unprecedented&#8217; $119M Into 2024 Elections &#8211; Here Are The Biggest Donors</a>
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 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Crypto Markets Surge After Powell Hinted At Rate Cuts, Cynthia Lummis Doubts Kamala Harris' Crypto Support And More: Top Crypto Updates

The past week has been a rollercoaster ride for investors, with potential policy changes, economic warning signs, and market slowdown predictions making headlines. Here&#8217;s a quick recap of the top stories that kept the financial world buzzing over the weekend.
Kamala Harris&#8217; Economic Plans Could Impact Corporate Profits
Investors are closely watching the potential market implications of a&nbsp;Kamala Harris&nbsp;presidency. The possibility of a Harris administration has become a key focus at the Democratic convention this week, following her late entry into the race after President Joe Biden&#8217;s withdrawal. According to Frank Kelly, senior political strategist at DWS Group, Harris appears to be "more aggressive than Biden" on consumer issues that directly impact the market.
<a href="https://www.benzinga.com/24/08/40479355/unlike-trump-kamala-harris-economic-plans-might-take-a-big-bite-off-corporate-profits-anything-that">Read the full article here.</a>
Economic Warning Signs Emerge, But No Recession Yet
Neil Irwin, Chief Economic Correspondent at Axios, has identified various economic "warning signs" such as credit card and auto loan delinquencies, low hiring rates, and price sensitivity among consumers. However, he assures that these signs do not necessarily indicate an impending recession.&nbsp;
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40509753/expert-says-something-is-cracking-a-little-bit-in-the-economy-as-he-points-out-lowe">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40516786/fed-officials-signal-openness-to-rate-cuts-ahead-of-powells-jackson-hole-speech-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Fed Officials Signal Openness To Rate Cuts Ahead Of Powell&#8217;s Jackson Hole Speech: &#8216;Timing Seems Appropriate&#8217;</a>
Peter Schiff Warns Of Potential Dollar Collapse
Economist and gold bull Peter Schiff has warned of a potential total collapse of the U.S. dollar, as rising rate cut bets have weakened the greenback against a basket of major global currencies. Despite the U.S. dollar index trading at its lowest level since late December 2023, Schiff believes further weakness could be ahead.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40505099/peter-schiff-warns-dollar-on-verge-of-a-total-collapse-as-greenback-succumbs-to-ris">Read the full article here.</a>
Jim Cramer Predicts Market Slowdown
Jim Cramer, the host of CNBC's "Mad Money," has suggested that the recent market surge may be coming to a pause. He attributed the market's pullback to overbuying and a shift from optimism to reality. Cramer believes that the market may need time to recharge before another rally.
<a href="https://www.benzinga.com/markets/equities/24/08/40521853/jim-cramer-predicts-market-slowdown-says-we-got-too-hopeful-and-that-realty-has-now-set-in-big-g">Read the full article here.</a>
US Economy Adds Fewer Jobs Than Initially Reported
According to government data, the U.S. economy experienced a downward revision of 818,000 non-farm payrolls between April 2023 and March 2024. This adjustment represents a 0.5% decrease in overall job gains for the year, a greater fall than major U.S. investment banks like&nbsp;Goldman Sachs and&nbsp;JPMorgan Chase&nbsp;anticipated.
<a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40487711/us-economy-adds-818-000-fewer-jobs-than-initially-reported-urgency-for-interest-r">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40433021/peter-schiff-says-he-discussed-bitcoin-conference-appearance-in-may-2025-but-isnt-sure-kin" target="_blank" rel="noreferrer noopener">Peter Schiff Says He Discussed Bitcoin Conference Appearance In May 2025 But Isn't Sure King Crypto Will Be A ‘Thing' By Then</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Economics

Kamala Harris' Economic Plans, Market Slowdown Predictions, And More: This Week In Economics

The week has been filled with intriguing stories, from the potential economic implications of a Kamala Harris presidency to the growing internal discontent within North Korea. Here&#8217;s a quick recap of the top stories that made headlines over the week.
Kamala Harris&#8217; Economic Plans Could Impact Corporate Profits
Investors are closely examining the potential market implications of a Kamala Harris presidency which could lead to higher corporate taxes, impact consumer staples, and boost the solar energy sector. Frank Kelly, senior political strategist at DWS Group, noted that Harris seems to be &#8220;more aggressive than Biden&#8221; on consumer issues that directly affect the market. <a href="https://www.benzinga.com/24/08/40479355/unlike-trump-kamala-harris-economic-plans-might-take-a-big-bite-off-corporate-profits-anything-that">Read the full article here.</a>
Super PAC Founder Predicts Tighter Race for Kamala Harris
Chauncey McLean, president of Future Forward, a super PAC that has raised hundreds of millions to back Harris in the upcoming November 5 election, warns that the race is closer than public polls suggest. &#8220;Our numbers are much less rosy than what you're seeing in the public,&#8221; McLean stated. <a href="https://www.benzinga.com/news/24/08/40453175/super-pac-founder-who-raised-hundreds-of-millions-to-back-kamala-harris-predicts-tighter-race-than-p">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: Kamala Harris Takes 8-Point Lead In New Poll, With Race And Gender Shaping Voter Preferences</a>
Defection of North Korean Soldier Indicates Growing Internal Discontent
A recent defection of a soldier to South Korea, despite increased border security measures, highlights growing internal discontent within North Korea. This increase in defections, especially from North Korea's protected classes, indicates that Kim Jong Un is dealing with internal discontent that could potentially destabilize his regime. <a href="https://www.benzinga.com/news/24/08/40480629/after-north-korean-soldier-defects-to-south-expert-says-kim-jong-un-is-aware-of-internal-discontent">Read the full article here.</a>
Robert Kennedy Jr. Raises Concerns Over Children&#8217;s Health
Independent presidential candidate Robert Kennedy Jr. expressed concern over the declining health of children, attributing it to harmful chemicals in everyday products. He pointed out chemicals such as glyphosate, found in weed killers, and neonicotinoids, along with "forever chemicals" present in children's clothing and furniture. <a href="https://www.benzinga.com/news/24/08/40453139/robert-kennedy-jr-says-if-you-want-to-drink-a-coke-drink-a-mexican-coke-heres-why">Read the full article here.</a>
Kamala Harris&#8217; Favorability Surges in New Poll
Vice President Kamala Harris, who entered the race in late July, has seen her favorability rating jump 13 percentage points since June to 47%, according to results from two separate polls published this week. Her job approval rating also climbed seven points from Dec. 2023 to 47%, Gallup's August poll showed. <a href="https://www.benzinga.com/news/24/08/40525794/trump-vs-harris-new-poll-shows-vice-presidents-favorability-surges-by-double-digits-as-rivals-slips">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/08/40542456/elon-musk-asks-his-196m-x-followers-if-they-identify-as-democrat-or-republican-billionaire-receives?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Asks His 196M X Followers If They Identify As Democrat Or Republican: Billionaire Receives 1.6M</a>
Image Via Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Kamala Harris' Favorability Surges In New Poll, Super PAC Founder Predicts Tighter Presidential Race And More: This Week In Politics

The past week has been a whirlwind for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with significant changes in leadership, exciting product announcements, and strategic expansion plans. The tech giant is set to bid farewell to a key executive while gearing up for a major product launch event. Meanwhile, the Cupertino, California-based company is also expanding its footprint in India with a new assembly plant.
Apple App Store Leadership Shakeup
Matt Fischer, the head of Apple&#8217;s App Store business since 2010, announced his departure from the company. In an email to his team, Fischer stated, &#8220;After 21 years at Apple, I&#8217;ve made the decision to step away from our incredible company.&#8221; He also noted that the re-organization was the opportune time to hand over the reins to two exceptional leaders on his team.
<a href="https://www.benzinga.com/news/24/08/40498151/apple-app-store-team-sees-major-shakeup-as-business-head-matt-fischer-heads-for-the-exit">Read the full article here.</a>
Apple&#8217;s Upcoming Product Launch
Apple is all set to unveil the iPhone 16, new Apple Watch, and AirPods at an event on Sept. 10. The launch is crucial for the company, which has faced sluggish sales in recent quarters. The new iPhone 16 is expected to help boost revenue, with some sales recorded in the current fiscal quarter. Analysts predict a 7% revenue increase to $128.4 billion in the holiday quarter.&nbsp;
<a href="https://www.benzinga.com/news/24/08/40540086/apple-to-unveil-iphone-16-watches-and-airpods-at-september-10-event-report">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/08/40522668/driven-by-xi-jinpings-goal-for-new-productive-forces-china-now-races-against-tesla-to-build-battery?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Driven By Xi Jinping&#8217;s Goal For &#8216;New Productive Forces,&#8217; China Now Races Against Tesla To Build Battery-Powered Humanoid Robots</a>
Apple&#8217;s Expansion in India
Apple is preparing to launch its fourth iPhone assembly unit in India. The new plant, set up by Tata Electronics, is located in Hosur, Tamil Nadu, and is expected to begin operations in November. This will be Tata&#8217;s second iPhone assembly plant in the country.&nbsp;
<a href="https://www.benzinga.com/markets/asia/24/08/40434381/apple-to-expand-indian-footprint-as-tata-sets-up-countrys-4th-iphone-assembly-plant-report">Read the full article here.</a>
New Color For iPhone 16 Pro
The upcoming iPhone 16 Pro lineup will reportedly feature a new color, "Desert Titanium," in addition to the existing four color options. The new ‘Desert Titanium' shade is described as a "dark gold, similar to the old purple color," and is expected to be "discreet and deep."&nbsp;
<a href="https://www.benzinga.com/news/24/08/40434659/apple-iphone-16-pro-to-debut-desert-titanium-color-alongside-four-classic-options-industry-insider-r">Read the full article here.</a>
Delay In Foldable MacBook Production
Apple has reportedly delayed the mass production of its highly anticipated folding MacBook, according to Ming-Chi Kuo, a well-known analyst. Technical issues related to displays and mechanisms have pushed back the assembly and mass production timeline from the first half of 2026 to the end of 2027 or 2028.&nbsp;
<a href="https://www.benzinga.com/news/24/08/40502596/apple-delays-production-of-highly-anticipated-foldable-macbook-due-to-technical-issues-says-top-anal">Read the full article here.</a>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40478216/amazon-web-services-ceo-predicts-ai-could-soon-dominate-coding-being-a-developer-in-2025-may-be-diff?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Web Services CEO Predicts AI Could Soon Dominate Coding: ‘Being A Developer In 2025 May Be Different Than What It Was… In 2020'</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

AAPL

Cupertino Shakes Up App Store Leadership, iPhone 16 Launch Date, And India Expansion: This Week In Appleverse

The cryptocurrency Toncoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>) experienced a significant drop <a href="https://www.benzinga.com/news/24/08/40542542/elon-musk-reacts-as-telegram-founder-gets-arrested-in-france-reportedly-faces-20-years-in-prison-on">following the arrest of</a> Telegram CEO Pavel Durov in France on Saturday.
What Happened: The value of Toncoin, which was developed by Nikolai and Pavel Durov, plummeted by more than 19% after reports emerged that Durov, the CEO of the popular messaging app Telegram, was arrested at Le Bourget Airport in France.
At the time of writing, Toncoin is trading at slightly over $5.39, marking a 19.77% decrease, according to data from <a href="http://pro.benzinga.com">Benzinga Pro. </a>
Durov, a Russian-French billionaire, was apprehended on Saturday evening while traveling on his private jet. The arrest is linked to an ongoing police investigation in France, which is reportedly focused on the lack of moderators on Telegram, allowing criminal activity to persist on the platform, reported Reuters.
See Also: <a href="https://www.benzinga.com/news/24/08/40542646/tesla-ramps-up-cybertruck-production-drone-footage-reveals-rows-of-stainless-steel-behemoths-at-giga">Tesla Ramps Up Cybertruck Production: Drone Footage Reveals Rows Of Stainless Steel Behemoths At Giga Texas</a>
Pavel Durov, who launched Telegram with his brother in 2013, exited Russia in 2014 after defying government orders to close down opposition groups on his VKontakte social network. Following Russia&#8217;s invasion of Ukraine in 2022, Telegram emerged as a key platform for unfiltered information from both sides about the war and its political implications.
The Russian foreign ministry stated that it is seeking clarification on Durov&#8217;s situation and has called for his release.
<a href="https://www.benzinga.com/news/24/07/40034466/elon-musk-jokes-about-telegram-ceos-claim-of-100-biological-children-says-genghis-khan-would-have-sc" target="_blank" rel="noreferrer noopener">The Telegram</a> <a href="https://www.benzinga.com/news/24/07/40034466/elon-musk-jokes-about-telegram-ceos-claim-of-100-biological-children-says-genghis-khan-would-have-sc" target="_blank" rel="noreferrer noopener">CEO</a>&nbsp;is expected to appear in court on Sunday.
Tesla Inc CEO Elon Musk made several posts on X calling for Durov&#8217;s release. He also posted a clip of Durov&#8217;s recent interview with Tucker Carlson where he praised the X owner for bringing back free speech to the platform.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/FreePavel?src=hash&amp;ref_src=twsrc%5Etfw">#FreePavel</a> <a href="https://t.co/B7AcJWswMs">pic.twitter.com/B7AcJWswMs</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827572720936030703?ref_src=twsrc%5Etfw">August 25, 2024</a></blockquote>
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Meanwhile, other cryptocurrencies were also trading in the red. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 0.59% in the last 24 hours, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was down 0.64% and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) lost 3.65%. 
Check This Out:
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<li><a href="https://www.benzinga.com/news/24/08/40533087/if-warren-buffetts-son-didnt-sell-his-90k-berkshire-hathaway-inheritance-47-years-ago-to-buy-time-he" target="_blank" rel="noreferrer noopener">If Warren Buffett's Son Didn't Sell His 90K Berkshire Hathaway Inheritance 47 Years Ago To ‘Buy Time,' He Would Have This Much Today</a></li>
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Image via Shutterstock

$DOGE

$ETH

$TON

Telegram CEO Arrest In France Sends Toncoin (TON) Plummeting By Over 20%: Elon Musk Calls For Freeing Pavel Durov

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is seemingly ramping up production of the company&#8217;s Cybertruck, as seen in the recent drone footage of the company&#8217;s gigafactory in Texas.
What Happened: The drone footage by YouTuber Joe Tegtmeyer of Tesla&#8217;s gigafactory in Texas shows rows and rows of stainless steel vehicles lined outside the factory and awaiting deliveries. The footage was reportedly captured on Aug. 23 morning. 
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<iframe loading="lazy" title="Cooling Plant Testing! Boring Tunnel Structure &amp; Driveway! 23 Aug 2024 Giga Texas Update (07:10 AM)" width="500" height="281" src="https://www.youtube.com/embed/Gpi6tNQSxto?start=1209&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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The YouTuber also shared a picture of at least 50 Cybertrucks parallel parked at the factory lot with the caption, &#8220;The Cybertruck Armada has activated.&#8221; Cybertruck lead engineer Wes Morrill also shared the image.
Tesla did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/cybertruck?ref_src=twsrc%5Etfw">@cybertruck</a> Armada has activated &#x1f4d0;&#x1f920; <a href="https://t.co/XC3xu50AtY">pic.twitter.com/XC3xu50AtY</a>
&mdash; Joe Tegtmeyer &#x1f680; &#x1f920;&#x1f6f8;&#x1f60e; (@JoeTegtmeyer) <a href="https://twitter.com/JoeTegtmeyer/status/1827353443633074289?ref_src=twsrc%5Etfw">August 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Tesla started delivering the Cybertruck in November 2023 and is currently ramping up production&nbsp;with the aim of delivering 250,000 units starting in 2025. Tesla CEO Elon Musk has previously said that production,&nbsp;<a href="https://www.benzinga.com/news/24/07/39590408/tesla-to-deliver-foundation-series-cybertrucks-through-late-2024-due-to-continued-high-demand-contra" target="_blank" rel="noreferrer noopener">and not demand</a>, is the biggest hurdle in ramping up Cybertruck deliveries.
According to Kelley Blue Book estimates, Tesla sold 8,755 Cybertrucks in the second quarter in the U.S., and&nbsp;<a href="https://www.benzinga.com/news/24/05/38783121/tesla-cybertrucks-are-filling-up-in-used-car-markets-but-would-you-pay-these-steep-prices" target="_blank" rel="noreferrer noopener">2,803 in the first quarter</a>.&nbsp;
Tesla has touched a weekly production rate of 1,300 Cybertrucks, Musk said at Tesla&#8217;s annual shareholder meeting in early June. The company is looking to increase it further this year to touch 2,500 units by year-end, he added.
Cybertruck&nbsp;<a href="https://www.benzinga.com/news/24/07/39876213/tesla-confirms-it-aims-to-start-selling-cybertruck-in-canada-this-year-pre-orders-open-for-150" target="_blank" rel="noreferrer noopener">production is on track</a>&nbsp;to achieve profitability by the end of the year, Tesla said last month.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/08/40525705/fords-e-transit-van-could-be-its-golden-goose-until-new-evs-start-rolling-out-in-2026">Ford&#8217;s E-Transit Van Could Be Its Golden Goose Near Term As Blue Oval Pushes Back New EV Launch To 2026</a></li>
</ul>
Photo: courtesy of Tesla

Tesla Ramps Up Cybertruck Production: Drone Footage Reveals Rows Of Stainless Steel Behemoths At Giga Texas

RPAR: Still Too Soon To Buy Despite Higher Interest Rates

RPAR: Use Upcoming Rally To Reassess (Rating Downgrade)

RLY: Multi-Asset ETF Beating Peers For 3 Years

TUG: Market Timing ETF Beating Peers In 2023

RPAR Risk Parity ETF: Full Recovery Ahead, Stay Invested

RLY: More Of A Cyclical Play Than A Portfolio Diversifier

RPAR: Heavy Allocation To Bonds May Cause Underperformance - Time To Exit

HNDL: Tactical ETF With 7% Yield, High Fee And Weak Performance

NTSX: Multi-Asset ETF Beating Its Peers

AMLP

DFCF

GLDM

GOOG

GOOGL

GOVT

HNDL

HYLB

JEPI

MSFT

NTSX

PDBC

PFFD

QQQM

SCHH

SCHI

SPAB

SPLG

TIPX

A popular asset allocation strategy promoted by hedge funds, including&nbsp;Bridgewater Associates&#8216;&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/ray-dalio" rel="noreferrer noopener">Ray Dalio</a>, is reportedly facing investor redemptions after underperforming promises.



What Happened:&nbsp;Bridgewater and other hedge funds promised superior returns with their &#8220;risk-parity portfolios,&#8221; but after half a decade of subpar performance, investors are pulling their money out, Bloomberg&nbsp;<a target="_blank" href="https://news.bloomberglaw.com/capital-markets/ray-dalios-famous-trade-is-sputtering-and-investors-are-bailing" rel="noreferrer noopener">reported</a>.&nbsp;



Large investors, including public pension funds in New Mexico, Oregon, and Ohio, have withdrawn their investments, leading to a $70 billion decline in these funds from their peak three years ago. This comes despite reassurances from hedge funds that things could improve in the next decade.



Risk parity was successful only during the Great Financial Crisis of 2008-09 and &#8220;that was really its heyday,&#8221; said Eileen Neill, as per the report, whose firm advises New Mexico&#8217;s $17 billion worth of public employee pension.



Since 2019, risk-parity funds have consistently underperformed the standard 60/40 global stock-bond mix, according to a broad industry index, as per the report. This lackluster performance has led to a significant investor exodus, with Verus estimates compiled from eVestment data showing a drop in risk-parity fund assets from a peak of $160 billion in 2021 to roughly $90 billion by the end of 2023.



What Is Risk-Parity?&nbsp;A&nbsp;<a target="_blank" href="https://www.benzinga.com/news/22/09/29068486/2022-made-sure-even-risk-parity-strategies-dont-work-this-etf-lost-over-28-this-year" rel="noreferrer noopener">risk-parity portfolio</a>, according to a University of Massachusetts Amherst paper, &#8220;defines a well-diversified portfolio as one where all asset classes have the same marginal contribution to the total risk of the portfolio.&#8221; This approach prioritizes risk management over chasing high returns and involves portfolio rebalancing and leverage.



Unlike traditional 60/40 stock-to-bond portfolios, risk-parity focuses on risk distribution rather than dollar amounts invested in each asset class.



The risk-parity portfolio was first launched in 1996 to manage Dalio&#8217;s trust assets, as per Bloomberg, and was lauded as a way to &#8220;use deep economic research to craft the best possible portfolio, instead of trying to call the next big thing.&#8221;



Instead of taking on high risk in a bid to chase superior returns, the approach propounded diversification across an array of assets such as commodities and bonds, with each as an equal driver of the portfolio&#8217;s volatility.



See Also:<a target="_blank" href="https://www.benzinga.com/yield-investments" rel="noreferrer noopener">&nbsp;Best High-Yield Investments To Earn</a>



Defenders Of The Strategy:&nbsp;Proponents of the strategy argue that exiting now, with stocks at record highs, is a &#8220;classic investor error.&#8221; Bridgewater claims its &#8220;All Weather&#8221; fund that targets 10% volatility may be underperforming currently, but believes risk-parity remains superior for long-term investing, especially with potential stagnation in stock gains.



The &#8220;All Weather&#8221; iteration fell 22% in 2022, with&nbsp;Michael Markov&nbsp;of Markov Processes<a target="_blank" href="https://www.benzinga.com/news/22/09/29068486/2022-made-sure-even-risk-parity-strategies-dont-work-this-etf-lost-over-28-this-year" rel="noreferrer noopener">&nbsp;blaming the underperformance</a>&nbsp;on it being less reactive to short-term market swings and correlation changes.



Risk-parity funds also face stiff competition from private credit funds and top hedge funds with consistent returns. 



Michael Shackelford, chief investment officer at the Public Employees Retirement Association of New Mexico, reportedly said, &#8220;If I'm going to have 6% or 8% of my portfolio in something else, I'd rather that something else be a bucket of really good performing hedge funds.&#8221;



Investors should focus on future performance, argued&nbsp;Jordan Brooks&nbsp;of&nbsp;AQR Capital Management, whose firm manages $13.7 billion in risk-parity investments. &#8220;It's investors' job at the end of the day not to look backward but forward to what's the best portfolio to navigate the next decade,&#8221; he said.



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that mirrors the S&amp;P 500 Index, ended Monday&#8217;s session up 0.92% at $499.72, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro</a> data. The RPAR Risk Parity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPAR#NYSE">RPAR</a>) closed the previous session 0.16% lower at $18.63 and is down over 5% over the past year.



Read Next: <a href="https://www.benzinga.com/news/24/01/36647975/2024-win-for-president-joe-biden-or-donald-trump-would-be-threatening-for-markets-ray-dalio-says">2024 Win For President Joe Biden Or Donald Trump Would Be &#8216;Threatening&#8217; For Markets, Ray Dalio Says</a>

Ray Dalio's Way Loses Shine As Investors Yank Out Billions From Risk-Parity Funds After Disappointing Returns: But Is It A 'Classic Investment Error?'

Risk-parity strategies that aim to maximize diversification across asset classes appear to have lost their appeal at a time when every asset class has suffered due to persisting global volatility.

What Happened: The $1.1 billion RPAR Risk Parity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPAR#NYSE">RPAR</a>) has lost over 32% from its November 2021 high, according to a Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-09-28/-perfect-storm-for-risk-parity-has-etf-posting-record-32-drop#xj4y7vzkg">report</a>. This is a record drawdown, the report said.

The fund has lost more than 28% since the beginning of the year.

See Also: <a href="https://www.benzinga.com/markets/asia/22/09/29067471/alibaba-surges-over-4-hong-kong-shares-gain-for-now-as-wall-street-sees-relief-rally-over-boes-inter">Why Alibaba, Nio And Other Stocks Are Shooting Up (For Now) In Hong Kong Today</a>

Based on volatility, these strategies allocate funds among all asset classes, taking an equal amount of risk in each. However, risk parity tactics failed this year as both stocks and bonds suffered from the U.S. Federal Reserve&#39;s aggressive rate hikes in its effort to control inflation.

Expert Take: Todd Sohn, ETF strategist at Strategas Securities,&nbsp;told Bloomberg it&rsquo;s supposed to be a diversified fund &mdash;&nbsp;holding major asset classes: stocks/bonds/gold/TIPS, to basically &lsquo;weather&rsquo; when volatility hits one of the asset classes.

&ldquo;But we are in this environment with inflation still high and bond yields now making multi-decade highs that no one has experienced in 40 years,&rdquo; Sohn said.

Jeffrey Gundlach, chief investment officer of DoubleLine Capital, tweeted, &ldquo;The Nasdaq Total Return YTD is -30.36% and The Long Maturity UST ETF is -30.94%. &ldquo;Risk parity&rdquo; is clearly not working out so far this year.&rdquo;

Volatility In 2022 Made Sure Even Risk-Parity Strategies Don't Work: This ETF Has Lost Over 28% This Year

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