Insights Now

Episodet

• 
  The 1998 Collapse of Long-Term Capital Management 13.08.2026 16min

  The collapse of Long-Term Capital Management in 1998 revealed how even the most sophisticated strategies can unravel under extreme market stress. This episode explores the rise and fall of the hedge fund, the role of quantitative models and leverage, and the ripple effects across the global financial system. Connections to today’s market environment highlight ongoing challenges in risk management and liquidity, while offering perspective on how investors can approach uncertainty. Join Dr. David Kelly, Chief Global Strategist, and Noble Cooper, Research Analyst, as they revisit the story of Long-Term Capital Management and share insights for navigating today’s complex markets. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  The 1987 Stock Market Crash 06.08.2026 18min

  The 1987 Stock Market Crash—known as Black Monday—stands as a defining moment in financial history, marked by a single-day decline of over 22% in the Dow Jones Industrial Average. This episode unpacks the forces that set the stage for such an unprecedented event, from the exuberance of the 1980s bull market to the rapid proliferation of portfolio insurance. Parallels to today’s market environment highlight both new risks and reassuring differences, reinforcing the value of a long-term perspective. Join Dr. David Kelly, Chief Global Strategist, and Diago Mosqueira, Research Analyst, as they revisit Black Monday and share insights for navigating today’s complex markets. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  The 1929 Stock Market Crash 30.07.2026 19min

  Speculative excess, technological innovation and the optimism of a new era converged in the Roaring Twenties, setting the stage for one of history’s most dramatic market events. The 1929 stock market crash revealed how exuberance and leverage can reshape—and ultimately destabilize—financial markets. This conversation explores the forces that fueled the boom, the mechanisms that amplified risk and the lessons that continue to resonate in today’s investment landscape.  In this episode, join Dr. David Kelly, Chief Global Strategist, and Katie Korngiebel, Research Analyst, as they examine the enduring impact of the 1929 stock market crash and the insights it offers for navigating modern market cycles. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Moments in market history 23.07.2026 14min

  A century of market history reveals patterns of optimism, risk and resilience that continue to shape investment decisions today. This special summer series examines landmark events—from the 1929 crash to the Global Financial Crisis—to illuminate the forces behind market upheavals and the lessons they offer for modern investors. The conversation also highlights how long-term perspective and disciplined strategy can help investors navigate volatility and avoid common pitfalls. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and Dr. David Kelly, Chief Global Strategist, as they introduce some of the turning points that have shaped markets throughout history.   Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: The case for distressed debt investing in private credit 16.07.2026 25min

  Many investors, particularly those new to the asset class, equate private credit with direct lending. However, private credit encompasses a much broader space than just direct lending. This year, amid concerns over software exposure and rising credit stress in direct lending, we have seen increased interest in other strategies. In particular, distressed and special situations credit strategies, a large and established segment of the market, are gaining popularity. On today’s episode, Aaron Mulvihill is joined by Brad Demong, Co-Chief Investment Officer of the Global Special Situations Group at J.P. Morgan Asset Management. They discuss why interest in distressed and special situations credit strategies has grown, how the private credit market has repriced following dislocations earlier this year and how the current private equity landscape is creating opportunities for distressed and special situations investors.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  Alternative Realities: How do you boost returns in a concentrated market? 09.07.2026 25min

  As equity markets become increasingly concentrated, investors are seeking strategies to diversify their exposures. Long-short strategies are one way to achieve this diversification while potentially capturing higher returns by building a portfolio that seeks to overweight winning stocks and short losing stocks. On today’s episode, Aaron Mulvihill is joined by Susan Bao, Portfolio Manager for the U.S. Equity Group, as they discuss the history of long-short strategies, why today’s environment has brought renewed interest in these strategies and where these types of strategies fit within investor portfolios. Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  2026 Mid-Year Outlook: Crosscurrents and Divergence Amidst an Increasing AI Surge 25.06.2026 29min

  At the year’s midpoint, investors face a landscape shaped by surging AI investment, geopolitical uncertainty and diverging economic fortunes. The AI boom is powering exceptional growth in technology and semiconductors, while higher energy prices and global tensions add complexity to inflation and consumer sentiment. Shifting central bank policies and evolving global trends are redefining the outlook for fixed income, international equities and alternative assets. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and Dr. David Kelly, Chief Global Strategist, as they present their mid-year outlook and share timely insights for navigating today’s market crosscurrents. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: Absolute return strategies & trouble in private credit? 11.06.2026 23min

  With inflation expectations on the rise, volatility has returned and stocks and bonds are increasingly moving together. This is driving interest in uncorrelated and absolute return strategies that can generate returns regardless of what’s happening with broader market beta or the economy. On today’s episode, Aaron Mulvihill is joined by Bill Eigen, Head of the Absolute Return and Opportunistic Fixed Income team, to discuss where an absolute return strategy fits in portfolios, areas of opportunity Bill is seeing in the market and thoughts on where we are in today’s credit cycle—including private credit. Watch the video version on YouTube.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  Making sense of geopolitical risk 04.06.2026 30min

  Geopolitical volatility is reshaping the global economic landscape, influencing everything from energy markets and trade flows to technological innovation and security strategies. As events in Iran, Ukraine and China drive profound shifts across markets, investors are challenged to adapt to a world where resilience and strategic foresight are more critical than ever. Heightened defense spending, evolving supply chains, and new approaches to international cooperation are redefining opportunities and risks, demanding a sophisticated understanding of the forces at play. In this episode, Gabriela Santos, Chief Market Strategist for the Americas at J.P. Morgan Asset Management, is joined by Derek Chollet, Head of the JPMorganChase Center for Geopolitics, to share his perspectives on the geopolitical forces shaping today’s markets and tomorrow’s investment decisions.  Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Saving smarter for college 29.05.2026 20min

  College costs have soared well beyond inflation, making education planning a critical challenge for families and advisors. With public and private tuition rising faster than household incomes, the conversation has shifted from simply saving to strategically investing for education. Choosing the right vehicle—like a 529 plan—can make a meaningful difference, offering tax-deferred growth, tax-free withdrawals, and state-level benefits. This episode examines common misconceptions, the impact of procrastination and the realities of scholarships to provide a practical lens for advisors and parents seeking clarity in a changing environment. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and Tricia Scarlata, Head of Education Savings at J.P. Morgan Asset Management, as they share actionable perspectives and personal experiences on building smarter education savings plans. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: Inside JPMorganChase’s $1.5 trillion security and resiliency initiative 21.05.2026 20min

  Last year, JPMorganChase announced the launch of the Security and Resiliency Initiative, a 10-year, $1.5 trillion plan to facilitate, finance and invest in industries critical to national security. With an initial $10 billion in direct equity investments, the initiative aims to help select companies accelerate growth, drive innovation and strengthen strategic manufacturing. As Jamie Dimon, Chairman and CEO of JPMorganChase, put it, “It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security.” In this episode, Aaron Mulvihill is joined by Jay Horine, Global Head of the Security and Resiliency Initiative, to discuss the priority areas that the initiative will be focusing on and the role that private companies play in making innovation happen. Watch the video version on YouTube.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  Taking stock of today's markets 14.05.2026 18min

  Amid fast-moving headlines and shifting market dynamics, it’s time to pause and take a fresh pulse on what matters most. From energy disruptions and inflation to the rise of AI and evolving consumer sentiment, today’s landscape calls for clarity and perspective. Explore the key forces shaping portfolios, uncover emerging opportunities, and rethink risk in a world where change is constant. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and David Kelly, Chief Global Strategist, as they spotlight the market’s defining themes and offer timely insights for advisors and investors. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: How will portfolios evolve with inflation, credit and innovation? 07.05.2026 25min

  After a dynamic start to 2026, the alternative investment landscape is evolving rapidly. In this episode, Aaron Mulvihill sits down with Jed Laskowitz, Global Head of Private Markets and Customized Solutions, and Anton Pil, Head of Global Alternative Investment Solutions. Earlier this year, Jed and Anton shared their perspectives on the 2026 Alternative Investments Outlook, spotlighting the key themes and opportunities shaping private markets across asset classes. Now, as the year unfolds, they return to revisit those themes and explore how they’re playing out in real time. From the ripple effects of ongoing conflict in the Middle East and its impact on private markets to the latest developments in private credit, they break down the forces driving today’s alternative investment environment. Watch the video version on YouTube.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  Navigating inflation, private credit and market sentiment 30.04.2026 29min

  Navigating today’s dynamic markets means staying ahead of shifting sentiment, evolving fundamentals and global events that can shape investment strategies. From the impact of geopolitical conflicts on inflation and growth to the changing landscape of private credit and asset allocation, timely questions from clients reveal what’s top of mind for advisors and investors alike. In this episode, join Meera Pandit, Global Market Strategist, and Grant Papa, Research Analyst, as they answer timely client questions and share insights from the J.P. Morgan Asset Management Market Insights team. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Does diversification include crypto? 16.04.2026 32min

  The rapid evolution of the crypto landscape is reshaping how investors approach diversification, risk and opportunity. As digital assets like Bitcoin and Ether move from the fringes to the mainstream, their unique characteristics—decentralization, scarcity and volatility—are prompting new conversations about portfolio construction. Regulatory milestones, such as the Genius Act, are bringing greater legitimacy and structure to the market, while innovations like stablecoins are unlocking new possibilities for seamless, secure transactions. In this episode, join the Market Insights team's Jack Manley, Global Market Strategist, and Brandon Hall, Research Analyst, as they share expert perspectives on navigating the complexities and opportunities of the modern crypto market Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: What is the state of U.S. infrastructure? 09.04.2026 18min

  U.S. infrastructure is at a crossroads. As economies expand and technology reshapes the landscape, the demand for robust, modern networks has never been greater. From highways and bridges to power grids and water systems, the pressure to build, maintain and upgrade is mounting, especially as artificial intelligence and data centers drive new requirements for energy and resources. In this environment, the need for strategic investment is urgent and the stakes are high. In today’s episode Aaron Mulvihill sits down with Darren Olson, Chair of the Committee for America's Infrastructure at the American Society of Civil Engineers. Darren leads the team behind the influential Report Card for America's Infrastructure, a comprehensive assessment that guides policymakers, investors and communities on where investment is most needed. Watch the video version on YouTube.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  Are Millennials and Gen Z priced out? 02.04.2026 30min

  Millennials and Gen Z are navigating a financial landscape defined by rising costs, shifting job markets, and evolving expectations around wealth and opportunity. As affordability challenges intensify—especially in housing, education and healthcare—these generations are rethinking how they spend, save and invest. Their unique perspectives are reshaping consumer trends, fueling growth in new sectors, and prompting companies to innovate in response to changing demands. From the influence of social media on spending habits to the impact of technology and AI on career prospects, the next generation is confronting existential questions about their financial futures.  In this episode, Global Market Strategists Jack Manley and Jordan Jackson and Market Insights Research Analyst Katie Korngiebel share timely insights and personal perspectives on the challenges and opportunities facing young Americans in today’s economy. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: Geopolitics, private credit and portfolio construction 27.03.2026 27min

  Global markets are flooded with headlines, from shifting geopolitics to evolving economic landscapes and the rapid expansion of private markets. As investors navigate these dynamic times, understanding the broader context is more crucial than ever. In today’s episode, Aaron Mulvihill is joined by Kerry Craig, Global Market Strategist in APAC and Aaron Hussein, Global Market Strategist in EMEA, for a candid conversation about the questions foremost in clients’ minds around the world. Together, they unpack the latest developments in energy and infrastructure, explore how global shipping routes are affecting supply chains and address the growing concerns and opportunities in private credit. Watch the video version on YouTube.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify
• 
  Investing in AI opportunities across markets: Part 2 19.03.2026 31min

  Artificial intelligence is rapidly transforming the investment landscape, prompting new questions about risk, opportunity and the future of market leadership. As innovation accelerates and disruption becomes a constant, understanding how to navigate this evolving environment is more critical than ever. This conversation explores the forces shaping today’s public markets, the balance between fundamentals and sentiment, and the strategic decisions that can help investors stay ahead in a world defined by change. In this special crossover episode between Insights Now and Alternative Realities, we continue our “AI and Investing” series, diving into how AI is reshaping opportunities within public markets.  In this episode, join Meera Pandit and Stephanie Aliaga, both Global Market Strategists on the Market Insights team for a timely exploration of AI’s impact on markets and the pathways to resilient, forward-looking portfolios. Watch the video version on YouTube.  Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
• 
  Alternative Realities: What's next for oil prices? 17.03.2026 17min

  Energy markets are on edge as geopolitical risk meets shifting demand, elevating the importance of balance, quality and discipline in portfolio construction. Markets are pricing a near term risk premium while longer dated benchmarks remain steadier, yet timing matters as continued Strait of Hormuz disruptions can shift outcomes on a week by week basis.  Join Aaron Mulvihill, Global Alternatives Strategist, and Aga Zmigrodzka, Equity Research Analyst, Energy and Infrastructure, at J.P. Morgan Asset Management as they discuss what’s next for oil markets and where disciplined capital allocation and strong balance sheets may uncover durable opportunities across the energy value chain. Watch the video version on YouTube.  Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify