While real estate is often treated as a single asset class, investors access it through two distinct markets: public real estate, primarily via publicly traded Real Estate Investment Trusts (REITs), and private real estate, through direct ownership o

The Quick Take

• Advisors asked for greater customization — so LPL Research built it. Our new building block model portfolios let advisors tailor exposures one component at a time, then combine them for personalized portf

The S&P 500 settled a whirlwind July moderately lower but maintained healthy year-to-date gains. Just one month into the second half, some of our key market themes cited in LPL’s Midyear Outlook 2026 wasted no time making themselves known.

Sometimes our Investment Manager Research team is asked whether we are biased for or against boutique investment managers as compared to larger-scale managers. In a word, no. Generally speaking, bias is a four-letter (“bad”) word. We aim

Despite earnings broadly exceeding expectations, equity markets have experienced increased volatility in July. Policy has once again been the biggest driver of market action. And this time it is a familiar headline, with the Middle East, the Strait o

In my May 19, 2026, article, “Why Most Portfolio Manager Mistakes Seem Smart at the Time”, I explored a difficult reality of manager evaluation: the biggest mistakes often seem smart in the moment, while the earliest evidence of trouble r

The first half of 2026 was a tale of two quarters for U.S. equity markets, as the S&P 500 experienced a drawdown of ~4.5% in the first quarter, followed by a ~15% rally in the second quarter. As investors look forward to the second half, the arti

Oil has staged an impressive rebound this month as the conflict between the U.S. and Iran has re-escalated. The memorandum of understanding signed on June 17 created a 60-day window for negotiations, but the diplomatic opening lasted only a few weeks

With midterm elections fast approaching, history suggests investors may be better served focusing on market behavior rather than political predictions. As LPL Research highlighted in its Midyear Outlook 2026: Policy, Buildouts, & Bottlenecks, our

Private equity buyouts remain a cornerstone of many private market programs. However, today, the investment opportunity finds itself at a noteworthy crossroads. The long-term performance remains attractive, yet faces compression, while near-term liqu