Insights
CIO Weekly Perspectives
Political Gridlock but Fiscal Largesse
How political dysfunction undermines debt sustainability and helps embed structurally higher inflation.White Paper
The Active Foundations of Sustainable Investing
As ESG and sustainability indices proliferate, we argue that sustainable investing is inherently an active management discipline.CIO Weekly Perspectives
Strike (Big) 3?
A potential U.S. auto strike has significant implications for the economy, earnings and inflation.CIO Weekly Perspectives
Late-Summer Debates
A few key issues could disrupt investors’ peace and quiet as fall approaches in the Northern Hemisphere.Disruptive Forces in Investing Podcast
The Implications Behind Indexation
(14:33) Are there misunderstood aspects of indexation that investors should be aware of?Insights
Ten for 2023—Midyear Update
We check in on the key themes we anticipated from the economy and markets in 2023.Asset Allocation Committee Outlook
Engine Running, Shifting to Neutral
In the face of conflicting signals from our short- and medium-term outlooks, our Asset Allocation Committee is adopting more neutral views.CIO Weekly Perspectives
Taking Stock
As we reach the halfway point of an unexpected year for markets, what’s next for equities?White Paper
Climate Innovation and the New Capex Cycle
The backdrop for investing in climate innovation is at a critical infection pointEquity Market Outlook
Economic and Market Review: Long-Term Optimism Amid Short-Term Headwinds
While the rally in mega-cap growth stocks has helped delay the next downturn, we reaffirm our emphasis on low-beta portfolios, higher earnings quality and defensive sectors.White Paper
The Fine Print of Indexation
A look at opportunity costs, long-term risks and complementary solutionsCIO Weekly Perspectives
Don’t Give Up on China
The post-COVID reopening has disappointed, but has that disappointment and the prospect of new policy stimulus created a relative value opportunity?Insights
GP-Led Secondaries: Private Equity’s Most Underserved Market?
Current macroeconomic and capital market conditions appear to be creating attractive investment opportunities for secondary buyers.CIO Weekly Perspectives
Is the Consumer Cracking?
News from the consumer sector reveals intriguing trends, as well as the importance of credit and security selection in today’s complex market environment.Disruptive Forces in Investing Podcast
The Many Facets of Japanese Investing
(29:48) Given Japan’s unique macroeconomic backdrop, what can this market offer to its investors?CIO Weekly Perspectives
A Tale of Two Indices
How an “optical illusion” might be making the S&P 500 look more expensive, and better-performing, than it really is.Disruptive Forces in Investing Podcast
The True Meaning of Sustainable Investing
(19:50) How can investors approach sustainable investing in today's investment landscape?CIO Weekly Perspectives
Proxy Voting: Engagement Matters
As we kick off our latest NB Votes campaign, we look at what detailed bottom-up knowledge brings to the process, and what can happen when it’s absent.Equity Market Outlook
Economic and Market Review: Continue to Recommend Defensive Positioning, Focus on Quality
What happens when the lowest interest rates in 400 years meet the fastest hikes in 100?CIO Weekly Perspectives
As Credit Goes, So Goes the Economy
Credit is the lifeblood of the economy, and the credit system just had a heart murmur.Disruptive Forces in Investing Podcast
The Deal or No Deal of Event-Driven Investing
(19:48) Exploring the nuances of event-driven investing in today’s markets, we attempt to answer: how do the deals get made? And what happens when they don’t?CIO Weekly Perspectives
The More Things Change, Part II
Banking stresses may have tightened conditions enough for policymakers to pause their hiking cycles indefinitely.Insights
Silicon Valley Bank: Market Reaction and Implications
In this bulletin, we provide our view of the events of the last week and their implications for the bank sector.CIO Weekly Perspectives
At the Crossroads, Seeking Direction
Faced with historically inverted yield curves, unbalanced equity markets and economic conditions unseen for 40 years, investors are agonizing over their next steps.CIO Weekly Perspectives
ESG: Making Sense of the Mudslinging
What ESG, sustainable investment and impact investment mean at Neuberger Berman, and how they are consistent with active management and the diverse needs of our clients.CIO Weekly Perspectives
Commodities: From Destocking to Restocking
The micro and macro factors weighing on commodities since last summer are starting to reverse—and secular tailwinds are building.CIO Weekly Perspectives
Politics, Deficits and the Debt Limit
We firmly believe that Congress will ultimately raise the debt limit, but it’s worth remembering that political drama affects markets.Insights
Equity Opportunities After Easy Money
Fourteen years of rock-bottom interest rates helped fuel a passive-indexing revolution. At Neuberger Berman, we believe we’ve entered a new economic regime that, in our view, calls for even more thoughtful and selective active management.Insights
Japanese Small Caps May Hop in the Year of the Rabbit
Despite their recent outperformance, we believe Japanese small caps have further room to run in 2023 and beyond. In this report, we highlight a few catalysts that could support earnings growth within this relatively under-researched asset class.Insights
The Investors Have Left the Building
Is money rushing to exit from non-traded real estate because there is more attractive value in listed real estate?CIO Weekly Perspectives
A Delayed Reckoning
Equity markets had momentum coming into 2023, but has the economic data now become too bad for investors to ignore?Equity Market Outlook
Economic and Market Review: Key Considerations For Equity Investors
After rising interest rates, persistent inflation and geopolitical turmoil pounded equity investors in 2022, we believe macroeconomic indicators offer equity investors little to cheer about in the first quarter of 2023.CIO Weekly Perspectives
Outlook 2023
The leaders of our investment platforms welcome the New Year with their views for 2023.Disruptive Forces in Investing Podcast
What Goes Up Must Come Down…Right?
(27:02) As inflation grows more apparent across the globe, we explore if there’s an end in sight, and how we see it impacting both Equities and Fixed Income investments.CIO Weekly Perspectives
A Tale of Two Cities
Why we think the resilience of the U.S. economy is proving to be a real conundrum for investors.CIO Weekly Perspectives
Cryptonite
The FTX collapse is a blow to the idea of finance industry disruption and a potential source of volatility, but we think systemic contagion into broader financial markets is unlikely.White Paper
Hardening Borders: Opportunities in Security, Health and Trade
Seeking the potential beneficiaries of a new age of deglobalization and insecurity.Insights
Solving for 2023: Back to the "Old Normal"
Our senior investment leaders discuss their market and investment themes for the coming year.CIO Weekly Perspectives
Is This ‘Nightmare on Wall Street’ Coming to an End?
Do corporate earnings disappointments signal a weaker economy and easing inflation pressures, which could end this scary market—or are there more twists to come?Asset Allocation Committee Outlook
Tighter Conditions Begin to Squeeze the Economy
As the economy slows, an epic climb in short-dated rates and bond yields appears to have shocked investors into accepting the prospect of stickier inflation, but they still seem reluctant to price for substantially lower earnings.Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We put out a cautious Equity Market Outlook three months ago, and after a quarter of worsening economic data and inflation trends we are now even more focused on low beta and high earnings quality.CIO Weekly Perspectives
Policy Excesses and Market Discipline
We are seeing bond investors standing up for themselves against policymakers, and while equity investors are experiencing pain from this struggle, the end result may be a more sustainable, fundamentals-based market.CIO Weekly Perspectives
The Uncertainty May Be Worse Than the Slowdown
We do think the onset of recession is a time to tread carefully, but it could also be a time of opportunity for equity investors.Disruptive Forces in Investing Podcast
How the Space Economy Is Achieving Liftoff
(17:04) As we take off further into the Space Age, we explore the growth potential and opportunity set within this quickly evolving sector.Insights
Japan’s New Horizon in Small Caps
We believe smaller companies are poised to shine brightly in the “land of the rising sun.”CIO Weekly Perspectives
China: Suspended Animation
The run-up to China’s leadership meetings this fall is delaying substantial policy changes, in our view creating opportunities in advance of potential economic improvement next year.White Paper
Value, Growth and the True Exposures in Your Portfolio
If your portfolio has fallen more heavily than you anticipated this year, it may be because it has become biased to growth stocks: a full analysis could help restore the balance—and the exposure to a more disciplined style of value investing—you intended.CIO Weekly Perspectives
Recession Semantics
Whether the U.S. is actually in a recession is debatable, but high inflation will affect companies both positively and negatively.Disruptive Forces in Investing Podcast
Forgo FOMO: Growth Investing for the Long Term
(12:08) As investors grapple with what the options are in today’s market, we look to growth stocks, which some may consider to be too risky right now, but we uncover how we believe that might not actually be the case…Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We see increasing likelihood of a recession, but even if we avoid one, we think the coming months are going to feel like a recession as the decline in stock market valuations in the first half of the year are likely followed by a decline in corporate earnings in the second half.CIO Weekly Perspectives
Earnings at a Crossroads
The guidance in this season’s earnings reports could start to tell us how far earnings are likely to decline and how much is already priced in.Disruptive Forces in Investing Podcast
The Mission Toward Carbon Transition
(17:11) What role does carbon play across infrastructure and are companies implementing changes across their operations as a result?Insights
Japan: Land of the Rising Prices?
Japan looks set to emerge from 30 years of near-zero inflation in 2022—but are its companies able to absorb higher costs, or even re-learn the art of passing price hikes on to their customers?Insights
Why Passive ESG Fails to Deliver
There’s no substitute for nuanced analysis and judgment in ESG investing.Asset Allocation Committee Outlook
Regime Change
While we do not anticipate a recession over the next 12 months, the prospect of slowing growth and stubborn inflation has led us to downgrade our view on equities, and prepare for a new regime in which real assets could generally perform better than financial assets such as stocks and bonds.Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We believe the conflict in Ukraine may turn out to be less critical for equity markets than the upcoming turn we anticipate in the economic growth cycle.Insights
REITs as a Hedge Against Inflation
Real estate investment trusts across a number of sectors could show strength in 2022, driven by inflation and secular trends.Disruptive Forces in Investing Podcast
The Weakest Links in the Global Supply Chain: Part III
(17:30) In this final chapter of the supply chain series, we identify some of the key risks and opportunities across the technology sector as the global semiconductor shortages further impact the greater supply chain crisis.Disruptive Forces in Investing Podcast
The Weakest Links in the Global Supply Chain: Part II
(19:53) As we continue our conversations around the current global supply chain crisis, we evaluate what companies with production overseas are doing about meeting consumer demands and more.Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We believe positive fundamentals are likely to outweigh pandemic, valuation and slowdown concerns in the first half of 2022.Disruptive Forces in Investing Podcast
The Weakest Links in the Global Supply Chain: Part I
(15:38) With store shelves looking emptier and shipments getting delayed, we explore what is happening in the global supply chain and what companies are doing about it.Video
Solving for 2022: Joseph Amato on Equities
(6:24) As 2021 concludes, the leaders of our investment platforms got together to debate and identify the key themes that they think will guide investment decisions in 2022.Video
Understanding China Market Dynamics
(15:00) We believe having on the ground insight is key to understanding China market dynamics.Insights
Solving for 2022: Entering a New Age
Our senior investment leaders look to the coming year in the global economy and markets.Insights
Public/Private Investing: Broadening Opportunity Within Equities
We believe private equity can serve as a core holding alongside traditional stocks to help improve investment outcomes.Disruptive Forces in Investing Podcast
The Blurred Lines of Public and Private Equity
(21:52) Companies today have a variety of pathways to go public, but we also have seen them want to stay private for longer. So where might the opportunity set be within this gray area of investing?Video
Identifying Japan’s Hidden Gems
(2:26) In this video, Joe Amato, Chief Investment Officer—Equities, and the Japan Equity team introduce what makes the Japanese market attractive, and how long-term active engagement is the key to enhancing long-term value.Insights
Should Investors Stay Onboard the Chinese Dragon Boat?
Surprising policy developments are rocking the craft, but in our view the course remains set for the same long-term destination, and the uncertainty and volatility may present some attractive investment opportunities.Disruptive Forces in Investing Podcast
Turning a New Leaf in Chinese Investing
(19:21) With changes to Chinese regulatory policy, many investors have started to pull away their investments in China. Putting the pandemic and geopolitical tensions aside, could these investors perhaps be leaving potential opportunities behind as a result?Video
When Offices and Shops Re-Open, Is the 5G Story Over?
Working and shopping from home during the pandemic highlighted the importance of 5G connectivity. But the pandemic only accelerated a trend that has been underway for years. Far from being over, the 5G story is only just beginning.Disruptive Forces in Investing Podcast
Thinking Big When It Comes to Small Caps
(15:57) With the rise of meme stocks making headlines earlier this year, what other investment tools might be available to new and seasoned investors alike when it comes to investing in small caps?Video
If 5G Is Here, Can 6G Be Far Behind?
Whether it’s 5G or 6G, the core investment theme is the same – opportunities enabled by next generation connectivity. Investors can benefit by seeking to identify the enablers and beneficiaries of this megatrend, across a range of sectors and value chains.White Paper
Durable, Sustainable, Adaptable: Identifying Potential “Transition Winners”
In the modern economy, we believe the best long-term prospects belong to companies that have a durable competitive position, do little to no harm to society or the environment, and can adapt to change.Video
How Is 5G Affected by Tensions Between the U.S. and China?
Think of data as the new oil and 5G as the pipeline. 5G is seen as a strategic asset by many nations, as it is a key infrastructure to driving technology innovation and economic growth.Video
Can 5G Help Build a More Sustainable Future?
We believe the higher speed, greater connectivity and lower latency enabled by 5G networks will unleash a range of technologies that can play a critical role in realizing the UN Sustainable Development Goals.Insights
Ten for 2021—Midyear Update
We check in on the key themes we anticipated from the economy and markets in 2021.Video
What Are the “Killer Applications” of 5G?
We think there will be 5G-enabled “killer apps” in just about all aspects of life and every industry, which is why we believe that it takes a research capability covering all sectors to invest in this theme.Video
Could Asia be the Next Silicon Valley?
Asia is now the epicenter of many disruptive technology innovations and is now leading in areas like advanced semiconductor manufacturing, robotics, fintech, 5G, and digital lifestyle.Video
Could the Global Chip Shortage Affect the 5G Rollout?
The semiconductor sector used to be cyclical, but with the advent of 5G and broader digitalization, demand growth has become increasingly structural.Insights
The Great Reset: Rethinking Sustainability
In the second of our conversations about the post-pandemic landscape, we spoke with a power utility and an industrial gases company about climate-related risks and opportunities.Systematically Speaking
Commodities: Equities or Futures?
As more investors turn their focus back to commodities, it is worth remembering that commodity equities have historically generated surprisingly poor commodity exposure relative to more direct investments.Disruptive Forces in Investing Podcast
The Electrification of Mobility
(21:53) Vehicle and machinery electrification have increased in popularity, now more than ever. So what are global vehicle manufacturers doing to meet consumer demand?Disruptive Forces in Investing Podcast
Making the REIT Move In Real Estate
(22:00) As we’ve begun to adjust to the “new normal” of a post-pandemic economy, what might investors want to keep their eyes on in REITs?Disruptive Forces in Investing Podcast
When Do Commodities Become a Hot Commodity?
(16:36) Since the early beginnings of civilization, commodities, such as grains, metals and coffee among others, have been a vital part of global commerce. But how will commodities today be impacted as we move further into the new normal?Insights
REITS and Rates
History suggests that real estate securities can be an attractive investment if you expect inflation and rates to go higher.Strategy Insights
How Sustainable Are Your Proteins?
Trends around health and wellness and a growing sense of climate change concerns have given rise to the growing acceptance of a flexitarian diet.White Paper
“Hidden Quality” in International Equity Markets
Traditional “quality” companies are bunched in a few sectors and appear expensive—is there a more subtle definition that can uncover “hidden” quality?Disruptive Forces in Investing Podcast
What Are Women Doing About Wealth?
(16:41) As we prepare for an anticipated wealth transfer of $30 trillion to women over the next ten years, what should we know about how women invest assets differently than men?Insights
Why We Believe Value Still Has Value
Here are three reasons why many investors have neglected value stocks for so long—and why we think each one of them is wrong.Disruptive Forces in Investing Podcast
How to Sustain Sustainability
(14:50) With sustainable investment approaches getting more popular across the globe, we explore the aspects of what may be allowing corporations to be successful as the world tries to reduce its carbon footprint.Disruptive Forces in Investing Podcast
Making the Case for Value
(13:36) With the value rally that has now been emerging, what might investors want to consider when it comes to value?Disruptive Forces in Investing Podcast
Solving for 2021: An Inside Look
(16:34) As 2020 comes to a close, we reflect on the volatile year we have had and look forward to the year ahead, as detailed in our annual investment outlook, Solving for 2021.Insights
Don’t Be A Turkey
Like the festive bird in December, investors may want to ask how much better things can get.Insights
Could It Finally Be Time for Value?
Why we think the recent reversal in growth stocks’ multiyear dominance could be set to continue.Disruptive Forces in Investing Podcast
The World Wide Web of Retail
(16:02) Early indications show that Black Friday and Cyber Monday sales went well for retailers and consumers alike, so what are some of these companies are doing to maintain customer satisfaction during this unprecedented time?Disruptive Forces in Investing Podcast
Getting Smarter Around Disruption
(11:48) As more and more groundbreaking business concepts continue to enter the market, one might wonder what it is about an idea or concept that makes it truly disruptive and the thought process behind it.Strategy Insights
The Path to Carbon Reduction
As investors that take climate change leadership into consideration, we often ask ourselves, how robust and meaningful are these goals and how do a company’s climate and business goals align?Insights
Solving for 2021: The World After the Coronavirus
Our senior investment leaders look to the coming year in the global economy and markets.Strategy Insights
