Wilmington Trust's Capital Considerations
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Tony Roth, chief investment officer, Wilmington Trust Investment Advisors, Inc, the investment advisory arm of M&T Bank, asks—and answers—the questions that are top of mind for today’s investors. During each episode, Tony and a special guest provide listeners with insights on unfolding market, economic, and other evolving trends, and a window into how client portfolios are being positioned in the face of ongoing uncertainty.
Available episodes
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May 24, 2023
Artificial Intelligence: Progression, Applications, and Impact
In part two of this series, AI expert and author of Own the AI Revolution, Neil Sahota, and CIO Tony Roth continue their conversation, focusing on the rapid pace of AI’s progression, its applications, and how it may enhance the quality of our lives.
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May 11, 2023
Artificial Intelligence: Definitions, Possibilities, and Limits
Artificial intelligence, or AI, is one of the most important technologies of our time—yet some feel its potential is just beginning to be realized. In this episode, AI expert and author of Own the AI Revolution Neil Sahota defines terms with Tony, discusses the enablers of AI technology and platforms, and delves into the recent open letter signed by tech leaders who are demanding a pause in AI research.
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Apr 12, 2023
Our Blue Planet: Solving the Climate Crisis Through CO2 Removal
As interest grows in the relatively new field of removing carbon dioxide from our oceans, there are still a number of uncertainties about the process’ effectiveness and safety. Tony and Dr. Peter de Menocal, director of the Woods Hole Oceanographic Institution, discuss how new technologies to increase the ocean's ability to absorb and store CO2 may take us one step closer to solving our climate crisis.
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Apr 12, 2023
Our Blue Planet: Preserving Our Largest Ecosystem
Earth’s oceans cover over 70% of the planet’s surface, while driving weather, regulating temperature, and serving as a vital source of sustenance, transport, and commerce. In a “blue economy,” a sustainable marine environment serves to advance science and technology in a way that fosters economic opportunities and societal solutions. On this first of a two-part series, we speak with Dr. Peter de Menocal, director of the Woods Hole Oceanographic Institution, about the exploitation, preservation, and regeneration of this important ecosystem.
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Mar 31, 2023
How China’s Economic Shifts May Affect Us
As China reopens and tries to break free of a growth-inhibiting middle-income trap, many are paying close attention. To lend insight into the scenarios that may unfold, what they could mean for our inextricably linked economies, and the potential market opportunities, Tony speaks with Shehzad Qazi, managing director and chief operating officer of China Beige Book, the largest China-based data collection network.
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Mar 21, 2023
Economic, Market & Monetary Consequences of Bank Failures
As of this writing, a few financial institutions have imploded as they struggled to contend with rising short-term interest rates and efforts to generate immediate liquidity. In their wake, some companies have seen their stock share prices plunge, while investors are anxious about further potential looming aftershocks in the banking sector and beyond. Chief Investment Officer Tony Roth and senior members of his team discuss what this may mean for financial conditions, credit spreads, interest rates, and portfolios.
If you are interested in learning more about the strength and stability of M&T and Wilmington Trust, please visit wilmingtontrust.com.
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Mar 2, 2023
Financial Risk Viewed Through an ESG Lens
Investing often relates to how we categorize risk. Environmental, social, and governance (ESG) is a lens we can use to do just that. The bottom line is ESG risks are financial risks, but how do decisions made by companies impact shareholders and investors? To talk about how the ESG lens is used to classify risk bands, Tony was joined by Cyrus Lotfipour, CFA®, Executive Director, ESG Research at MSCI, Inc., who is responsible for the innovation and development of its ESG ratings methodology.
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Feb 15, 2023
Catastrophe Modeling and the Perils of Climate Change
Wildfires, hurricanes, and floods are some of the many perils exacerbated by climate change. High-risk regions face events with multi-billion dollars’ worth of damage. Over the next months, we’ll devote a number of episodes to the financial cost of climate change and how we can move forward in an effort to protect ourselves and our investments. We’re starting off the conversation with Karen Clark, a leading expert in catastrophe modeling. Karen joins Tony to explain how modeling possible catastrophic events helps insurers, financial institutions, corporations, and public agencies estimate and prepare for future losses from climate-related natural disasters.
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Feb 1, 2023
Looking at Portfolios Through a Revised Strategic Lens
In many ways, the economy and financial markets bear little resemblance to the world stage that was in place three years ago, when we last updated our long-term capital markets assumptions and strategic asset allocations (SAA) for client portfolios. We invite you to join our first 2023 episode of Capital Considerations, where we explain the rationale for our recently revised assumptions and allocations—and how it may impact your portfolio’s ability to fund your wealth goals.
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Dec 14, 2022
2023 Capital Markets Forecast: Tipping Points, Challenges, and Opportunities Ahead
With inflation at levels not seen in decades, Chief Investment Officer Tony Roth and members of his team examine the determinative catalysts for the 2023 market and economic outlook. Where have all the workers gone? What are the critical tipping points and risks around China’s polices? And how is the transition to green energy linked to rising prices? Hear the answers to those questions, and how they are positioning client portfolios in light of the current realities.
Learn more about our 2023 Capital Markets Forecast @ www.wilmingtontrust.com/cmf2023
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Nov 16, 2022
Could the Housing Market Send Inflation Through the Roof?
Goodbye to hyper-low interest rats for homebuyers; hello to even higher rents. People are staying put, which means we may not see meaningful change in the housing market next year. What does this mean for the overall inflation picture? Dr. Orphe Divounguy, Senior Economist at Zillow, joins Tony to discuss the housing market from an inflationary standpoint.
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Nov 2, 2022
Mining the True Value of Bitcoin
As Bitcoin's utility expands, so does its adoption—but where does it stand as an asset class? Does it move in lockstep with risk assets? Can it serve as an inflation hedge? Chief Investment Officer Tony Roth talks with Alyse Killeen, the Founder and Managing Partner of Stillmark, about the growing Bitcoin ecosystem and its fundamental value.
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Oct 19, 2022
China, the U.S., and the World’s Economic Balance
With President Xi Jinping poised to take a third term, we look at the critical geopolitical relationship between the U.S. and China to better understand its potential implications for the world's economic balance and markets. Chief Investment Officer Tony Roth speaks with David Dollar, Senior Fellow in the China Center at the Brookings Institution, about the current and future state of China's economy, the reality of the U.S.-China trade war, and the likely impacts of China's negative demographics on production.
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Sep 29, 2022
Inflation, the Fed, Midterms & Portfolios: What’s Ahead for Markets
We are not out of the woods yet. We can't even see the edge of the woods. With high inflation, a hawkish Fed, and weak economic data, can a recession be far behind? Wilmington Trust’s Chief Investment Officer Tony Roth recently held an important webinar. He was joined by Chief Economist Luke Tilley and Head of Investment Strategy Meghan Shue. Some of the key issues discussed were persistent inflation, Federal Reserve rate hikes, and the midterm elections.
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Aug 22, 2022
Behavioral Investing: Managing the emotions behind our decisions
Our emotions and impulses dictate many of the choices we make. During times of financial volatility, emotions can run hotter until fear and greed take hold, jostling the resolve of even the most confident of investors. To better understand how psychological biases and behaviors can impact our financial decisions, Tony spoke with Dr. Stephen Shu, visiting lecturer on behavioral economics at Dyson School of Applied Economics and Management at Cornell University.
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Jul 26, 2022
The Metaverse: A reality or cyber-fantasy?
The metaverse was once a sci-fi dream of an interactive, immersive virtual future world accessed through virtual reality headsets. But the future may be here, as indicated by social media behemoth Facebook Inc.’s name change to Meta. Where does reality intersect with virtual and fantasy possibilities? Will we feel the thrill of concert-going from our living rooms and avatar-led experiences—or will the need for human interaction win out? To explore how the metaverse may reshape our lives, Tony spoke with Yahoo Finance’s Editor-in-Chief, Andy Serwer.
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Jul 11, 2022
2022 Economic Halftime Report: Has inflation hit its peak?
Calendar-wise, we’ve turned the page and the first half of a challenging 2022 is behind us—but inflation is still hovering at historic highs and global growth projections remain depressed. Markets seem uncertain about what the second half of the year may hold and, truth be told, so are Tony and Wilmington Trust’s Chief Economist Luke Tilley. They delve into how history may shed light on the present and—with impending Consumer Price Index readings and Fed rate decisions—how portfolios should be positioned in light of what they believe lies ahead.
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Jun 20, 2022
Weather’s Gone Wild: Carbon Emissions Just the Tip of the (Melting) Iceberg
Extreme heatwaves, devastating floods, and raging wildfires regularly compete for news headlines. How can we use these frightening and dangerous events as a catalyst for adapting to extreme weather patterns as we continue climate mitigation efforts? What imminent weather events are looming on the horizon and how should we be preparing now for the potential worst-case scenario? Chief Investment Officer Tony Roth sat down with Dr. Daniel Swain, a Climate Scientist at UCLA’s Institute of the Environment & Sustainability, to discuss the intersection of wild weather and climate change and the challenges and opportunities for the environment and your portfolio.
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May 29, 2022
The Electric Vehicle Revolution
What’s driving the pedal-to-the-metal increasing popularity of electric vehicles—gas savings, ease of care, climate concerns, or are they just too cool to pass up? Senior Editor of InsideEVs.com and host of the YouTube channel State Of Charge, Tom Moloughney, joined Chief Investment Officer Tony Roth to engineer some straight answers to some complex issues, such as the genesis of electric vehicle innovation, whether U.S. infrastructure is truly ready to charge the ever-expanding electric fleet, and if electric companies are equipped to juice up all these cars.
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May 23, 2022
The War in Ukraine—The Impact on U.S. Inflation
Just three months old, the Russia–Ukraine war has resulted in the deaths of thousands and the displacement of millions—in addition to worsening COVID-incepted supply-chain challenges and threatening global reserves of oil, gas, and wheat. Chief Investment Officer Tony Roth welcomed to the podcast Dr. Benjamin Jensen, a Senior Fellow for future war, gaming, and strategy in the International Security Program at the Center for Strategic and International Studies to deliberate about the expected trajectory of the war, as well as what it means for the outlook on U.S. inflation.
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May 17, 2022
Growth Scare or Recession?
On Thursday, May 12, Chief Investment Officer Tony Roth hosted a webinar, Growth Scare or Recession? with Chief Economist Luke Tilley and Head of Investment Strategy Meghan Shue. The discussion, which focused on the extraordinary volatility in the markets and the likelihood of a recession, also analyzed the current economic and market forces at play including Federal Reserve rate hikes, inflation expectations, and a dicey geopolitical backdrop, as well as the continuing Ukraine conflict and COVID outbreaks anew in China.
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May 3, 2022
The Real Deal on Rates, Yields, and Bonds
With a volatile equity market, inflation at eyewatering highs, and the Fed signaling a fairly aggressive rate hike calendar, income- and yield-thirsty investors are heating up the bond market. How has inflation affected bond yields, and what is the market anticipating moving forward? Chief Investment Officer Tony Roth and Wilmington Trust's Head of Fixed Income Manager Research Tom Pierce address these timely questions.
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Apr 19, 2022
The State of Our Cities: Recasting the Shadow Left by COVID
After COVID took hold in 2020, many of those who could high-tailed it out of the crowded cities where they worked and headed for home offices in the ‘burbs, as office buildings gathered dust. Today, although rents have bounced back from all-time lows and then some, working remotely is still very much with us—as is the virus to an extent. Can cities regain their former luster? Chief Investment Officer Tony Roth looks at the current situation and explores what’s next for our urban centers with Dean of New York University’s Robert F. Wagner Graduate School of Public Service, Dr. Sherry Glied.
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Apr 3, 2022
1Q in the Rearview Mirror: What’s Ahead in the 2022 Investment Landscape?
As we entered 2022, even the onset of the omicron variant failed to shake markets’ optimism. With much of the world learning to cope with an endemic COVID-19 and rates set to rise, the stage was set for strong global growth. The last three months, though, have been less rosy than we might have hoped. From the Russia/Ukraine conflict to inflation surprises, investors would be hard-pressed to say they were anticipating this level of macro uncertainty. Chief Investment Officer Tony Roth sat down with Wilmington Trust’s Head of Investment Strategy, Meghan Shue, to talk us through the investment implications of the wider landscape.
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Mar 27, 2022
Russia, Cyber Attacks & the U.S.: How Afraid Should We Be?
Without a battlefield in the traditional sense on which to retaliate against Ukraine supporters like the U.S. and Europe, Russia may be taking to cyberspace. Cyber attacks can be a tremendously powerful tool in Putin’s arsenal. Chief Investment Officer Tony Roth and Mazars Principal and Cybersecurity Practice Leader Paul Truitt, look at the potential risks to our infrastructure and overall digital security.
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Mar 14, 2022
Will the Oil Supply-Demand Price Scourge Spur the Transition to Green Energy?
As most of the world shuns Russia and its oil in the wake of the Ukraine invasion, the implications are vast for reduced global supply and skyrocketing gas prices. Will the harsh reality of international energy codependence spur the transition to green and clean? Which solutions like increased drilling and Keystone XL are in—or not in—the pipeline and why? To walk us through this and more, Chief Investment Officer Tony Roth speaks with Tom Seng, director of The University of Tulsa's School of Energy Economics, Policy & Commerce and author of Energy Trading & Hedging: A Non-technical Guide.
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Mar 6, 2022
“A Dark Day for Europe.” The World Reacts.
Twenty-four hours after Russia invaded Ukraine, Wilmington Trust’s Chief Investment Officer Tony Roth hosted a client webinar, “A Dark Day for Europe.” The World Reacts. Joined by Chief Economist Luke Tilley, Head of Investment Strategy Meghan Shue, and Senior Portfolio Manager Mark Horst, the team set out the critical issues at stake in this ever-fluid situation. Listen to learn what is expected for economies, inflation, and portfolios.
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Feb 27, 2022
China—Is the World’s Second-Largest Economy a Policy Wild Card?
It was hardly a coincidence that Russia’s President Putin waited until after the Beijing Olympics to invade Ukraine—a move that was clearly a courtesy to China’s President Xi Jinping. Under his leadership, the Chinese Communist Party exerts nearly unfettered control and instant ability to implement, leaving markets to simultaneously understand what’s happened and anticipate what’s next. What do investors need to know? Chief Investment Officer Tony Roth is joined by Chinese domestic and foreign policy expert Dr. Elizabeth Economy, a senior fellow at the Hoover Institution at Stanford University and author of The World According to China.
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Dec 12, 2021
2022 Capital Markets Forecast—The Adaptive Brilliance of Business
“Global resource disorder.” It’s a term the team coined to convey the severe labor market shortage which—more than any other economic factor—has brought about a massive breakdown in the normally well-oiled global supply chain. Chief Investment Officer Tony Roth and Head of Investment Strategy Meghan Shue explore how companies are pivoting in the face of these challenges by deploying a broad spectrum of technological solutions, and how we are managing client portfolios in light of our expectations for 2022.
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Dec 12, 2021
2022 Capital Markets Forecast—An Economic Cycle Unlike Any Other
The health crisis of the past two years has resulted in acute dislocations among key pockets of the economy, leading to a cycle that is unprecedented. We face inflation that’s at its highest in nearly four decades and the tightest-ever labor market. Chief Investment Officer Tony Roth and Chief Economist Luke Tilley discuss the disconnects within the economy, the anticipated trajectory for inflation, and much more.
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Dec 3, 2021
Help Wanted—More Than Ever Before
Employees and job-seekers are very much in the driver’s seat in today’s high-demand low-supply labor market—a severe issue punctuated by the November jobs report. And the labor participation rate remains a critical factor in trying to dimension the long-term trajectory of markets and inflation. What will it take to get people back to work? How is business innovating to attract talent and leveraging technology to close labor gaps? Chief Investment Officer Tony Roth discusses the widespread impacts of the tightest-ever labor market with ZipRecruiter’s Chief Economist, Julia Pollak.
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Oct 30, 2021
Blockchain and the Future of Digital Transactions
Blockchain, the brains behind cryptocurrencies, is a concept that once seemed like the stuff of science fiction. But there is much more that blockchain can do beyond supporting digital currency. It is the building block (pun intended) of programmable ledgers that will define the way forward for complex digital financial transactions. CIO Tony Roth explores blockchain’s vast potential with Paul Brody, EY Global Blockchain Leader.
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Sep 22, 2021
Cybersecurity Threats—Staying Safe in an Increasingly Vulnerable World
When the Colonial Pipeline was hacked last spring, it forced the company’s only complete operational shutdown in 57 years, ceasing its normal daily transport of 2.5 million barrels of fuel for five days. This is just one instance of widespread cybercrime in the past 12 months. Online attackers are getting increasingly sophisticated, finding new ways to outsmart our defenses. Chief Investment Officer Tony Roth sits down with cybersecurity expert Morgan Wright to discuss what businesses and individuals can do to stay safe from ongoing cyberthreats.
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Sep 8, 2021
COVID and Another Season of Our Discontent
B.C.—before COVID—children bemoaned the end of summer while parents waited with bated breath for a return to school, work and well, the normal routine of life. That was then. Today, the Delta variant has pushed up case rates, while vaccination rates in certain states remain anemic. Are mandates the needed shot in the arm to get us up and running on the road to normalcy? And what is our obligation to make vaccine rate inroads globally? Chief Investment Officer Tony Roth and New York University Langone Medical Center’s Dr. Arthur Caplan discuss these matters and much more.
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Aug 25, 2021
Bitcoin Deconstructed
Investors remain infatuated with bitcoin, the digital diva of cash systems, despite its extraordinary volatility. But is the love misplaced? Stillmark Venture Capital Founder and Managing Partner Alyse Killeen joins Chief Investment Officer Tony Roth to break down the currency into its essential building blockchain elements and explore its practical applications.
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Jul 28, 2021
Inflation—Fleeting or here to stay?
No, it isn’t your imagination. Prices are up—consumer goods are over 5% higher than a year ago. Inflation is rising, too—and not just because of supply snafus and increasing demand due to COVID reopening. So, is it a temporary blip or will it be That ‘80s Show all over again? To discuss the prospect of inflation, and the Fed’s role in not letting it get out of hand, Chief Investment Officer Tony Roth welcomes former Fed economist Claudia Sahm, a senior fellow at Manhattan-based think tank, the Jain Family Institute.
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Jul 21, 2021
5G—Mixed Signals
The rise of 5G—all the rage in commercials and conversations—ranges from internet infrastructure safety and the increased use of smart cars to the cost of the next iPhone. But when we take a step back from the chatter, exactly what changes are we eagerly awaiting? Muriel Médard, an information theorist and electrical engineer, and the Cecil H. Green Professor of Electrical Engineering at the Massachusetts Institute of Technology, joins Chief Investment Officer Tony Roth to unscramble the mixed signals around this next wave for broadband cell networks.
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Jul 7, 2021
America on the Move—The Reshaping of Cities and Suburbia
For many, COVID-19 has meant the home front has been doubling as the workplace, creating growing pains and the need for more space. At the same time, Millennials have been getting the itch to become homeowners. These forces have resulted in a massive migration from big cities to the suburbs and smaller cities. What do these trends mean for real estate markets—is another housing bubble ahead? Chief Investment Officer Tony Roth and Eric Willett, director of Research and Thought Leadership for CBRE’s Pacific Southwest Division, break down the impacts on homeowners and investors.
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Jun 23, 2021
The Economic Toll of Climate Change
Just a few years ago, the U.S. was moving at a snail’s pace relative to Europe when it came to prioritizing the climate crisis. Today, we see fervent interest from policy and industrial standpoints, as well as mainstream society—while catastrophic weather events continue to exact heavy financial tolls. How is the world rehabbing from its addiction to fossil fuels and what are the likely global economic effects? Chief Investment Officer Tony Roth explores the weighty price tag with Gernot Wagner, NYU climate economics professor who pens Bloomberg’s Risky Climate and is co-author of Climate Shock.
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Jun 5, 2021
Is the Stock Market Running Out of Juice?
The economy is still rising after a COVID-induced hibernation, further bolstered by easy monetary policy and vaccinations, while pent-up demand and stimulus are being deployed, brightening the outlook for corporate earnings—but for how long? How much has the recovery been priced into stocks? Chief Investment Officer Tony Roth welcomes the insights of seasoned stock pro Lori Calvasina, head of U.S. Equity Strategy at RBC Capital Markets, who recently raised her S&P 500 price target.
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May 26, 2021
Building Back Bridges & Roads? America’s Newest Deal
The infrastructure package, which currently comes with a $1.7 trillion price tag, seeks to deliver new roads and bridges and expands clean energy initiatives. While President Biden is working toward a deal, a broad sweep of complex economic issues has yet to be worked out. To dimension the implications and likely outcome of this initiative, Chief Investment Officer Tony Roth turns to Professor Rick Geddes, director of Cornell University’s Program in Infrastructure Policy.
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May 12, 2021
Wealth Management Leader Doris Meister Surveys the Industry Landscape
With each challenge comes the opportunity to reevaluate and do better. This was supremely evident in 2020, as the pandemic brought about a sea change in the way business is done. At Wilmington Trust/M&T Bank, for example, sweeping advances in technology that were in the works before COVID were brought to bear at breakneck speed. How has the virus changed the ways advisors help clients achieve their goals? What should you look for when choosing an advisor? For the answers, we look to our own Head of Wealth Management Doris Meister, a leader at top firms for over 25 years.
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Apr 27, 2021
Streaming Wars
Cable vs. streaming: Who will survive or even thrive? In our latest episode we explore rapidly changing tastes and how viewers are choosing to consume content from an ever-increasing supply of providers—as well as what it means for earnings of broadcast television and cable companies. Chief Investment Officer Tony Roth welcomes media and entertainment equity analyst Neil Macker from the investment research firm Morningstar to discuss what’s in store for these industries.
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Apr 14, 2021
The Rise (and Fall?) of Emerging Tech Contenders
With soaring valuations and prospects for expansion, early-stage growth firms are practically giddy with excitement and visions of stardom. Big-player sectors like technology and health care have greatly benefited from macro trends and enjoy elite status as increasingly important pieces of the future economy.
Still, private equity investors are forced to face the hard truth: not every behemoth wannabe makes it to the bigtime. What do you look for to help assess which young upstart will be a shining star or which others will fizzle out, so to speak?
Chief Investment Officer Tony Roth talks to David Reuter, a partner at the private equity firm LLR, about this and much more in the emerging technology space.
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Mar 31, 2021
Income Thirsty Investors Drink Up
To get a fix on the outlook for fixed income securities, we turn to Lord Abbett Partner and Portfolio Manager Leah Traub. In her important discussion with Chief Investment Officer Tony Roth, Leah shares what she believes is on the horizon for interest rates, dividends, and much more. Listen in and find out if your fixed income portfolio needs fixing.
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Mar 17, 2021
Anti-Antitrust? Pros and Cons of Reining in the Giants
Have the tech behemoths become too big for their britches? With many regulators and government crying “Monopoly!” antitrust enforcement may well be in the offing. Tony breaks it all down with Bill Baer, the former assistant attorney general in charge of the Antitrust Division of the U.S. Department of Justice, and current visiting fellow in Governance Studies at the Brookings Institution on Think Tank Row in Washington, D.C.
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Mar 3, 2021
IPOs out, SPACs in—but for how long?
Over 400 companies went public in 2020, an all-time record, and the traditional IPO route is fading as the increasingly popular SPACs (special purpose acquisition companies) take center stage, offering investors and businesses the potential opportunity to more quickly access a pile of capital in the hope of becoming the next Amazon. Everyone wins—or do they? To take us through the ins and outs of this rarefied space, our CIO Tony Roth is joined by Amy Butte, director for Bain Capital Specialty Finance who serves on numerous boards, including Tuscan Holdings Corporation, a SPAC launched in 2019, and is a former CFO of the New York Stock Exchange.
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Dec 14, 2020
ESG Investing Strategies—Are they right for your portfolio?
Chief Investment Officer Tony Roth and Harvard Law Professor Robert Sitkoff discuss ESG (environmental, social, governance) investing principles and how trustees may—or must—incorporate them into portfolios. Then, Portfolio Manager Steven Norcini weighs in on our ESG strategy.
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Nov 30, 2020
Inflation Dynamics
How has the pandemic impacted inflation rates and our inflation forecast as we inch closer to a post-COVID environment? Tony is joined by Wilmington Trust Investment Advisors Chief Economist Luke Tilley for a discussion about the importance of inflation as an economic and market indicator.
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Nov 16, 2020
Who Will Be Left Standing: The Outlook for Real Estate
The pandemic has forever changed the face of business and industry in America. Listen to our special podcast series to hear how three hard-hit areas are evolving as a result. How has COVID-induced working from home changed commercial real estate? Tony talks with Kelly Rush, CIO of Principal Real Estate Securities, on the future of real estate. Learn more about our 2021 Capital Markets Forecast at www.wilmingtontrust.com.
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Nov 16, 2020
Who Will Be Left Standing: The Outlook for Travel & Tourism
The pandemic has forever changed the face of business and industry in America. Listen to our special podcast series to hear how three hard-hit areas are evolving as a result. Can the multi-trillion-dollar travel market shift tactics to protect against further devastating losses? Tony talks with Axel Hefer, CEO of Trivago, on the future of the travel and tourism industry. Learn more about our 2021 Capital Markets Forecast at www.wilmingtontrust.com.
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Nov 16, 2020
Who Will Be Left Standing: The Outlook for Retail
The pandemic has forever changed the face of business and industry in America. Listen to our special podcast series to hear how three hard-hit areas are evolving as a result. Are brick-and-mortar stores crumbling for good? Tony talks with Mark Mathews, Vice President of Research Development & Industry Analysis, National Retail Federation, on the future of the retail industry. Learn more about our 2021 Capital Markets Forecast at www.wilmingtontrust.com.
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Oct 19, 2020
Fixed Income: Bursting More with Possibility or Risk?
A demand for income and a reduction in supply of higher-quality instruments have led investors to look beyond garden-variety government and investment-grade corporate for some yield love. Tony welcomes Jeff Katz, senior product specialist and securitized fixed income expert for TCW/Metwest, to explore what fixed income bubbles have been or are in the process of being created as a result of monetary policy—and whether any of these bubbles are at risk of popping
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Sep 30, 2020
The Fed, Part II—Becoming More or Less Effective?
Tony is once again joined by Charles Plosser, president and CEO of the Federal Reserve Bank of Philadelphia from 2006 to 2015, to explore the potential risks of overcommunication from the Fed, and just how reliable rate and inflation dynamics can be two to three years down the road. Hear whether Plosser sees the central bank as becoming more—or less—effective over time.
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Sep 29, 2020
The Fed, Part I—Not Enough in Reserve?
It would be hard to overstate how large the Federal Reserve looms in investors’ minds or its influence on financial markets. While the central bank has received praise for its quick and decisive action during the current crisis, focusing on liquidity and keeping capital flowing, questions must be raised about its recent messaging in light of the recently announced most significant changes to its long-term strategy in nearly a decade. Tony welcomes Charles Plosser, president and CEO of the Federal Reserve Bank of Philadelphia from 2006 to 2015, for this important discussion.
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Sep 23, 2020
Out of (Small) Business?
Small business revenues and the number of small businesses open are both down roughly 19% since January. And safety concerns in light of COVID-19 have escalated the crumbling of brick and mortar stores, moving more shoppers to the virus-free realms of online shopping. What does this all mean for shifts in consumer behavior and the future of small businesses in America? Chief Investment Officer Tony Roth and President of the National Federation of Independent Business Brad Close answer these questions and more
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Aug 26, 2020
Are Value Stocks Dead?
Is the declaration of death of value stocks premature? After a decade or so of weakness relative to growth, value’s heartbeat is suddenly quickening. Hear our Head of Equity and Nontraditional Investments Matt Glaser and our Chief Investment Officer Tony Roth tackle the age-old value/growth debate and discuss what trends we can expect to unfold for equities overall.
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Aug 3, 2020
Taking Stock of the Market
August 3, 2020—Never could we have predicted in January that 2020 would be unprecedented in so many ways. We face a continuing pandemic, domestic unrest, and an economy that has yet to fully reopen. As we move deeper into the summer and try to understand what the “next normal” will be, it’s time to test any previous assumptions, and pivot in the face of unparalleled change. Learn the strategies we’re considering for portfolio success.
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Jul 22, 2020
China & the U.S.: Cold War II?
Rising trade tensions in the past few years saw half a trillion dollars in tariffs by the U.S. on Chinese goods and retaliation in kind. Then came COVID-19 and a whole other kind of blame game ensued. In Part II of our discussion on China, Tony and Dr. Stephen Roach, a Senior Fellow at Yale University’s Jackson School of Global Affairs, discuss whether U.S.-China relations have reached a tipping point.
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Jul 20, 2020
China: The #2 Economy, with a Bullet
July 20—This is the first of two episodes where we shine the spotlight on China, which is front and center on the world stage. Tony and Dr. Stephen Roach, a Senior Fellow at Yale University’s Jackson School of Global Affairs, discusses China’s ascendancy over the last four decades and the pressures this uber-economic power faces to sustain and even exceed its high growth rate.
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Jul 2, 2020
Episode 13: Doing Well & Doing Good—ESG Investing
Sustainable investing using ESG criteria seeks to align one’s values with the goal of reaping competitive returns. Dr. Linda-Eling Lee, global head of ESG Research at MSCI and Steve Norcini, portfolio manager, Wilmington Trust ESG Equity Strategy join Tony to discuss this increasingly popular approach and how socially conscious investors can do well by both their principles and their portfolios.
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Please listen to important disclosures at the end of the podcast.
A strategy’s focus on ESG factors will cause it to sell or avoid certain stocks. Such stocks may subsequently perform better than stocks selected considering ESG factors.
Indexes are not available for direct investment. Investment in a strategy, such as the ESG Equity Strategy will incur expenses such as management fees and transaction costs which would reduce returns. There is no assurance that any investment strategy will be successful. Asset allocation or diversification cannot ensure a profit or guar…
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Jun 30, 2020
The Next Normal— What is the Future of America’s Classroom?
What will the classroom look like when students return to school? COVID-19 has altered and accelerated changes in the way we educate, including continued remote learning to varying degrees. It also shines a light on a “palpable digital divide” across the student population as far as equitable access to technology. Tony speaks with Professor Paul Reville of the Harvard Graduate School of Education and founder of its Education Redesign Lab, about what the future likely holds for our children and a system in the throes of being overhauled.
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Jun 18, 2020
Back to the Future— A Conversation with Abby Joseph Cohen, the Prophet of Wall Street
In this episode, Chief Investment Officer Tony Roth welcomes Abby Joseph Cohen, advisory director and senior investment strategist at Goldman Sachs. Known as the “prophet of Wall Street,” Abby has been named one of Barron’s 100 Most Influential Women in U.S. Finance for 2020. Abby discusses with Tony the critical and evolving issues around health policy, consumer behavior, markets, and global relations in this unprecedented pandemic era.
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Jun 16, 2020
Business Owners—A Close-up on PPP
Mention the Paycheck Protection Program (PPP) and business owners’ ears perk up. Annmarie Lee, M&T Bank associate general counsel and member of our PPP Leadership team, gives us the skinny on how business owners can navigate the program. Chief Investment Officer Tony Roth also talks to our client Janet Wischnia, founder of textile business American Blossom Linens. She gives us an inside look at how PPP funded her ability to pivot and meet altered, COVID-induced demand.
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May 12, 2020
U.S. Federal Debt—From Bubble to Balloon
$6.0 trillion. Roughly half of that was recently given out to ease Americans’ COVID-19-induced economic suffering—with nearly another $3 trillion now proposed. That’s atop a U.S. debt tab of over $20 trillion. Our CIO Tony Roth and Chief Economist Luke Tilley discuss why it matters, whether we should be worried, and the importance of having a plan.
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Apr 23, 2020
The COVID-19 Stock Market—Suspending Belief
Chief Investment Officer Tony Roth is joined by Credit Suisse Managing Director and Chief U.S. Equity Strategist Jonathan Golub, and Wilmington Trust’s Head of Investment Strategy Meghan Shue, to discuss how the U.S.’ response to COVID-19 has impacted equity market valuation and stability, how the markets may fare in a less globalized society, and what sectors to consider, despite this contracting environment. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 20, 2020
The Cure for What Ails Us Part II: Injecting Prevention for One and All
Chief Investment Officer Tony Roth speaks with Ofer Levy, MD, PhD, physician-scientist in pediatric infectious diseases, Director of the Precision Vaccines Program at Boston Children’s Hospital, and Professor at Harvard Medical School. Dr. Levy discusses the race to develop therapeutics, including plasma therapies, and when we can expect a viable vaccine. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 20, 2020
The Cure for What Ails Us Part I: What Makes This Virus Different From All Other Viruses?
University of Pennsylvania microbiologist Susan Weiss, PhD, co-director of the Center for Research on Coronaviruses and Other Emerging Pathogens, joins Chief Investment Officer Tony Roth to discuss the origins of the coronavirus, a field Dr. Weiss has researched for more than four decades. Listen as Dr. Weiss walks us through the biology and epidemiology of COVID-19. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 7, 2020
Planning Opportunities During Challenging Times
March 25, 2020—Tony is joined by Wilmington Trust’s Chief Planning Officer Don DiCarlo, who shares his insights on several wealth planning opportunities that can be particularly beneficial during the current market environment. Together, they discuss strategies to utilize the high federal tax exemption before it’s set to expire in 2026, or potentially sooner; gifting depreciating assets to different trust structures; converting a traditional IRA to a Roth IRA; and tax loss harvesting. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 7, 2020
Coronavirus Revisited—Where Are We Now? Where Are We Headed?
March 6, 2020—Chief Investment Officer Tony Roth is joined by Dr. Amesh Adalja, a Senior Scholar at Johns Hopkins University Center for Health Security in the Bloomberg School of Public Health. Dr. Adalja provides his view on the potential trajectory of the virus and societal impacts, while Tony offers insights on the pandemic from the perspective of global growth, capital markets, and client portfolios. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 7, 2020
Health care—The proposals, the promises, the positioning
March 13, 2020—Tony is joined by Christopher Pope, a senior fellow at the Manhattan Institute, whose research focuses on health care payment policy, hospital-market regulation, and insurance-market reform. Together, they compare the health care proposals and campaign promises from the two leading Democratic Party contenders with what is likely under President Trump if he prevails in November. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 7, 2020
O Productivity, Where Art Thou?
February 12, 2020—Chief Investment Officer Tony Roth and Chief Economist Luke Tilley of Wilmington Trust Investment Advisors discuss the productivity paradox. Forces such as market creation, firm strategy, consumer surplus, and progress all combine to help explain the disconnect between the productivity we see and the fact that it isn’t reflected in the economic data. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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Apr 7, 2020
Into the Unknown
February 5, 2020—In the premier episode, Tony Roth, chief investment officer of Wilmington Trust Investment Advisors, welcomes Meghan Shue, head of investment strategy, as his special guest. The first and second halves of the year are going to play out in two very different ways from an investment and economic perspective. 305912
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Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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