Wilmington Trust's Capital Considerations
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.
Mon, April 21, 2025
New Tariffs, Big Consequences Preparing for What’s Ahead
On April 9, Head of Wealth Management Lisa Roberts moderated a discussion with our investment team on the current volatility and economic outlook. Chief Investment Officer Tony Roth, Chief Investment Strategist Meghan Shue, and Chief Economist Luke Tilley shared valuable insights on the recent market drawdown1Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. and what they are watching in the weeks ahead. During the conversation, the team provided insight on: Their expectation for recession What they believe the impact tariffs will have on the economy The resiliency of the U.S. economy
Mon, March 24, 2025
New Frontiers in Artificial Intelligence: DeepSeek and Beyond
Advancements in AI algorithms are shifting the balance between computing power and efficiency, reducing reliance on high-powered GPUs and accelerating AI democratization. CIO Tony Roth and Anshumali Shrivastava, a computer science professor at Rice University and founder of Third AI Corp explore the revolutionary impact of DeepSeek on the AI ecosystem and delve into AI’s growing role in industries from finance to education, the implications for white- and blue-collar jobs, and how AI-driven advancements could redefine global productivity, economic policy, and even medicine.
Tue, February 18, 2025
Investing in a Chutes & Ladders Economy: Gaming Out Portfolios in 2025
Wilmington Trust's Chief investment Officer Tony Roth, Chief Economist Luke Tilley, Head of Head of Investment Strategy Meghan Shue, speak with Denise Monahan, market leader Pennsylvania and Southern New Jersey about the 2025 Capital Markets Forecasts, Investing in a Chutes & Ladders Economy: Gaming Out Portfolios in 2025 , the team's economic and investment outlook for the year ahead. During the discussion, they explored the team's baseline expectation for the economy and markets. They also took a look at the principal upside and downside risks, which they liken to the chutes and ladders you would encounter when playing the board game. Finally, they explain what it means for the team's investment strategy.
Thu, November 07, 2024
Securing Tomorrow: The Power of AI in Cyber Defense
As artificial intelligence technologies grow, the importance of safeguarding your information can become more critical. Listen as Chief Investment Officer Tony Roth and James Kaplan, partner and chief technology officer of McKinsey’s Enterprise Technology practice discuss how you can use AI to secure yourself, and how to stay protected from it.
Fri, July 19, 2024
2024 Midyear Market and Economic Outlook
In this episode of "Capital Considerations," Tony is joined by Chief Economist Luke Tilley and Head of Investment Strategy Megan Shue to reflect on the surprises of the first half of 2024—particularly around inflation and economic growth—and project their cautiously optimistic market and economic expectations through the end of the year. For more information on our midyear market and economic outlook, please see our latest Capital Perspectives publication.
Fri, June 28, 2024
China's Economic Engine: Strategies and Global Impact
Why is it important to stay focused on the data in order to make informed investment decisions? Listen as Chief Investment Officer Tony Roth speaks again with Shehzad Qazi from China Beige Book about the challenges the Chinese economy is facing. They examine three obstacles: global supply-chain dynamics; the struggle to boost domestic consumption amid economic shifts and social pressures; and the complexities of managing overleverage in sectors like real estate and infrastructure.
Wed, June 05, 2024
Crypto for the Masses: Will It Become an Everyday Currency?
With cryptocurrencies—and Bitcoin (BTC) in particular—back in the news and driving markets, Tony sat down with portfolio manager Jason Lee to discuss hot topics such as, what is BTC “halving” and why is it important; what the differences are between owning spot BTC exchange-traded funds vs. owning BTC directly; and the challenges BTC confronts in being used as an everyday currency.
Tue, April 16, 2024
Navigating the Economic Terrain: Soft Landing or Inflation Obstacle Course?
Chief Investment Officer Tony Roth, Head of Investment Strategy Meghan Shue, and Chief Economist Luke Tilley discuss the twists and turns of the market and economy while keeping their eyes peeled for opportunities in the face of persistent obstacles, such as inflation. Discover why they believe that although equity values may seem fairly priced, there's still room for growth in markets. Gain insights into their predictions for Fed rate cuts and how these could provide a valuable tailwind for investors, turning market dips into strategic buying opportunities. Tune in now for expert analysis and actionable insights to help guide your investment decisions.
Wed, March 20, 2024
Canvas and Capital: Exploring Art as an Investment
We are revisiting a previous episode of Capital Considerations where I explored the intersection of art and finance with Charlie Banta, former board president of the Buffalo AKG Art Museum. During our discussion, we spoke about the intricacies of investing in art, how certain high-value assets can appreciate in value long term, and the possibility of using art to secure a loan. However you view art, it can be a strategic asset in an investment portfolio and may add value to your estate for future generations. You should consider discussing your plans with your advisor.
Thu, January 25, 2024
2024 Capital Markets Forecast
During a recent event in New York City Chief Investment Officer Tony Roth, Head of Investment Strategy Meghan Shue, and Chief Economist Luke Tilley discussed their 2024 Capital Markets Forecast, the team's economic and investment outlook for the year ahead. During the in-depth discussion, which was moderated by CNBC's Sue Herera, they shared their thoughts on the year ahead, the overall economy, and the current investing climate.
Thu, December 07, 2023
Canvas and Capital: Exploring Art as an Investment
Are you looking to add value to your portfolio through nontraditional means? Chief Investment Officer, Tony Roth, explores the fascinating intersection of art and finance with special guest Charlie Banta. Listen as they explore the intricacies of investing in art and discuss the factors that make certain pieces rise in value over time. The conversation may inspire you to view art not only as visually appealing but also as a strategic asset in your investment portfolio, adding value to your estate for generations to come.
Tue, November 21, 2023
Electric Vehicles: The path to a greener tomorrow?
As the world grapples with climate change and the need to reduce greenhouse gas emissions, many ask if EVs are a promising solution? Listen as Chief Investment Officer Tony Roth and Corey Cantor, electric vehicle associate at BloombergNEF, discuss the lifecycle analysis of EVs, from battery production to charging sources. They also delve into investments being made by industry leaders and touch on the often-overlooked topic of second-life batteries.
Wed, November 15, 2023
Election 2024 Countdown: Economic, Market & Geopolitical Risks in the Year Ahead
With the recent stressors on the stock market, Chief Investment Officer Tony Roth, Chief Economist Luke Tilley, and Head of Investment Strategy Meghan Shue reflect on the tumultuous months leading up to our discussion and put into context the crucial factors shaping the landscape for the fourth quarter and beyond, counting down to Election Day 2024. They share perspectives on market positioning, discuss the consumer’s role in inflation and the economic environment, and what it may mean for portfolios.
Tue, October 31, 2023
Cybersecurity: Safeguarding the Digital Frontier
In this episode of Capital Considerations, Tony Roth discusses the crucial topic of cybersecurity with Eric Trexler, senior vice president at Palo Alto Networks. Together they shed light on the ever-evolving threats that individuals and businesses face in the digital age. Should two-factor authentication and password management be commonplace and what is AI’s role in all of it? Learn strategies to help safeguard both your personal data and your organization's valuable assets.
Tue, October 24, 2023
Behavioral Investing—Managing the Emotions Behind our Decisions
[REVISIT] We understand that our emotions and impulses dictate the choices we make. Everything from what we buy at the supermarket, to the car we drive, to how we invest. We are revisiting a previous episode where I spoke with Dr. Stephen Shu, Professor of Practice of Behavioral Economics at Cornell Dyson School of Applied Economics & Management, to better understand how behaviors can impact our financial decisions.
Fri, September 08, 2023
Unraveling the Power of Semiconductors: Enablers of Modern Technology
From smartphones to supercomputers, and automobiles to advanced medical devices, semiconductors are at the heart of it all. To introduce us to the world of semiconductors, the power behind modern technology including artificial intelligence, Tony welcomes Dr. Mark Lundstrum, distinguished professor and chief semiconductor officer at Purdue University. Tune in to gain insights into the bedrock of our digital society and the boundless possibilities that semiconductors continue to unlock.
Thu, August 24, 2023
Longevity: The Silver Society and Our Economy
What does living longer mean for you, the economy, and the planet? In this eye-opening episode, CIO Tony Roth and Professor Andrew Scott, renowned economist and co-author of The 100-Year Life delve into the fascinating topic of longevity and discuss how longer lifespans are reshaping retirement, health care, and the very fabric of our societies.
Thu, August 17, 2023
Our Blue Planet: Solving the Climate Crisis Through CO2 Removal
[REVISIT] With summer upon us, and many of us enjoying any number of water-related activities, it is a good time to reflect upon the important role oceans play in our lives and the global economy. For these reasons, we are revisiting a previously released episode. In a “blue economy,” a sustainable marine environment serves to advance science and technology in a way that fosters economic opportunities and societal solutions. In this episode, Chief Investment Officer Tony Roth and Dr. Peter de Menocal, director of the Woods Hole Oceanographic Institution, discuss how innovative technologies to increase the ocean's ability to absorb and store CO 2 may take us one step closer to solving our climate crisis.
Tue, August 08, 2023
Artificial Intelligence: Disruption that is Driving Opportunity
Artificial intelligence is a catalyst for disruptive innovation across various sectors. In this episode, CIO Tony Roth and his esteemed guest, Rudina Seseri, founder and Managing Partner of Glasswing Ventures take a deep dive into the AI landscape. They explore its unique challenges, promising ventures, and burgeoning investment opportunities.
Wed, July 19, 2023
Our Blue Planet: Preserving Our Largest Ecosystem
[REVISIT] With summer upon us, and many of us enjoying any number of water-related activities, it is a good time to reflect upon the important role oceans play in our lives and the global economy. For these reasons, we are revisiting a previously released episode. 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.
Thu, June 29, 2023
Weather’s Gone Wild: Carbon Emissions Just the Tip of the (Melting) Iceberg
[REVISIT] In light of the recent wildfires in Canada that resulted in harmful smoke shrouding much of the East Coast, we are revisiting a previously released podcast. 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.
Thu, June 22, 2023
A Look at Factors Driving the Markets: Mid-year Check-in
With the first half of the year behind us, it’s time to take stock of the economy, inflation, and the events impacting the markets. In this peer-to-peer conversation, Chief Investment Officer Tony Roth compares notes with Johanna Kyrklund, group chief investment officer at Schroders, about the shifting long-term trends, catalysts accelerating change, including longevity and the labor market, the global supply chain, and artificial intelligence, and discusses how the U.S. and Europe are faring amid the changes.
Wed, June 14, 2023
Catastrophe Modeling and the Perils of Climate Change
[REVISIT] Given the growing risks stemming from catastrophes, such as wildfires, we are revisiting a previously released episode. 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, who 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.
Wed, June 07, 2023
Will Hydrogen Make it Easier to Be Green?
Hydrogen, it turns out, is a player in the transition to a green economy. While it produces zero emissions when it’s burned and can be used to power more fuel-efficient fuel cells, the associated cost and difficulties in storing and transporting are worth noting. Tony Roth and Dr. Riva Krut, an ESG and corporate sustainability expert, discuss its potential role in decarbonizing the transportation, residential, commercial, and industrial sectors—as well as its pros and cons. Listen to learn whether its merits outweigh the challenges.
Wed, 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.
Thu, 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.
Wed, April 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.
Wed, April 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.
Fri, March 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.
Tue, March 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 .
Thu, March 02, 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.
Wed, February 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.
Wed, February 01, 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.
Wed, December 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
Wed, November 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.
Wed, November 02, 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.
Wed, October 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.
Thu, September 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.
Tue, August 23, 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.
Wed, July 27, 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.
Tue, July 12, 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.
Tue, June 21, 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.
Mon, May 30, 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.
Tue, May 24, 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.
Wed, May 18, 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.
Wed, May 04, 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.
Wed, April 20, 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.
Mon, April 04, 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.
Mon, March 28, 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.
Tue, March 15, 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.
Mon, March 07, 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.
Mon, February 28, 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.
Mon, December 13, 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.
Mon, December 13, 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.
Sat, December 04, 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.
Sun, October 31, 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.
Wed, September 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.
Wed, September 08, 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.
Wed, August 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.
Wed, July 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.
Wed, July 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.
Wed, July 07, 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.
Wed, June 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.
Sun, June 06, 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.
Wed, 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.
Wed, 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.
Tue, April 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.
Wed, April 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.
Wed, March 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.
Wed, March 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.
Thu, March 04, 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.
Mon, December 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.
Mon, November 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.
Mon, November 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.
Mon, November 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.
Mon, November 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.
Mon, October 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
Wed, September 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.
Tue, September 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.
Wed, September 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
Wed, August 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.
Mon, August 03, 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.
Wed, July 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.
Mon, July 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.
Thu, July 02, 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. ***************** 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 guarantee against a loss. Investment products are not insured by the FDIC or any other governmental agency, are not deposits of or other obligations of or guaranteed by Wilmington Trust, M&T, or any other bank or entity, and are subject to risks, including a possible loss of the principal amount invested. Third-party trademarks and brands are the property of their respective owners. The opinions of third-party guest speakers are their own and do not necessarily represent those of Wilmington Trust or M&T Bank.
Tue, June 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.
Thu, June 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.
Tue, June 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.
Wed, May 13, 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.
Fri, April 24, 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Mon, April 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Mon, April 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Tue, April 07, 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Tue, April 07, 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Tue, April 07, 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Tue, April 07, 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
Tue, April 07, 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 -- Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation.
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