Market Perspectives with Don Calcagni

The private credit market has been in the headlines, with some investors souring on the asset class. Mercer Advisors VP of Portfolio Management David Krakauer dissects what's happening in this market and why investors shouldn't worry if they have the right approach to private credit.

A strong year for international stocks has many investors clamoring to figure out how to invest internationally. Mercer Advisors CIO Don Calcagni shares his view on the right amount of international stocks for most investors.

President Trump has settled on a new leader for the Federal Reserve, but Mercer Advisors CIO Don Calcagni explains why the saga over the Fed — closely watched by markets — is far from over.

Mercer Advisor CIO Don Calcagni looks back at the major market events of 2025 — from tariffs, a near bear market, an AI boom, an international stock resurgence, and a thawing in private markets — and shares his investing lessons to take forward into the new year.

Investors spend too much time focused on narrow topics, when the goal of wealth management should be protecting your entire financial life by building a Fortress Balance Sheet, says Mercer Advisors CIO Don Calcagni. He explains how to get started thinking more holistically about your wealth.

The federal government shutdown is stretching into its second week. Mercer Advisors Chief Investment Officer Don Calcagni discusses why financial markets are taking in stride this latest episode of political turmoil, and what investors ought to think about and do as the shutdown continues.

The Federal Reserve cut rates for the first time this year amid heightened political scrutiny. Mercer Advisors Chief Investment Officer Don Calcagni looks at what the implications are for investors from the cut.

With markets testing new all-time highs, Don Calcagni the Chief Investment Officer of Mercer Advisors, explains why now is the time to think about diversification, and the importance of diversification across your financial plan, across and within asset classes, and across investing strategies.

The White House released an executive order this month allowing investors to make private equity and crypto investments in their 401(k)s. Don Calcagni, chief investment officer of Mercer Advisors, joins the podcast to share what investors need to know and consider as these new options eventually become available.

As more investors are being enticed to invest in private credit, alarms are being raised about the dangers of this growing asset class. In this episode, Mercer Advisors Chief Investment Officer Don Calcagni discusses both the all-too-real risks and the potential rewards of private credit.

The leading U.S. tech stocks enjoyed enormous returns in recent years, bolstered by the emergence of artificial intelligence. Will Rockett, senior director of investment strategy, joins the podcast to analyze whether these sky-high prices were a financial bubble, driven in part by an era of extremely low-interest rates, and how investors ought to approach the years ahead.

Total U.S. Federal Government debt has climbed to over $36 trillion with growing annual deficits on the horizon, and the U.S. debt was recently downgraded by the credit rating agency Moody's. Mercer Advisors Chief Investment Officer Don Calcagni answers many of the common questions raised by this debt outlook, and how we ought to think about it as investors.

International stocks outperformed U.S. stocks in the first quarter of 2025 but it wasn't clear if that would continue amid a global escalation of tariffs. Chief Investment Officer Don Calcagni looks at why international stocks — especially European — have still been winning over the past month.

With the S&P 500 teetering at the edge of "Bear Market" territory, David Krakauer, vice president of Portfolio Management at Mercer Advisors, joins the podcast to share lessons from looking at the history of bear markets over the past 100 years.

It's a reversal of fortune from recent years: the S&P 500 has stumbled to start 2025, but international stocks — especially in Europe — are doing exceptionally well. Don Calcagni, chief investment officer of Mercer Advisors, shares his analysis of why European stocks are having a surprisingly strong performance after several years lagging the U.S., and what it teaches us about building resilient portfolios.

When markets turn chaotic, investors don't merely need to survive, there may be opportunities to take advantage of the volatility. So far this year, volatility has been elevated and the S&P 500 has entered correction territory. Will Rockett, the senior director of investment strategy at Mercer Advisors, joins the podcast to talk about the strategies and opportunities for investors during periods of uncertainty.

Many wealth managers place investors into "model portfolios." In this episode, Don Calcagni, chief investment officer of Mercer Advisors, offers a primer on what model portfolios are and the major limitations of this popular approach for investors.

Any asset in your portfolio faces a mix of tailwinds that could propel it forward or headwinds that could drag it back. Don Calcagni, Chief Investment Officer for Mercer Advisors, outlines the headwinds and tailwinds currently facing equities, fixed income and private markets and his outlook for these investments in 2025.

Tariffs are a reality of U.S. economic policy that aren't going away, and many investors are wondering how to navigate an era of rapidly changing trade policy. Don Calcagni, chief investment officer of Mercer Advisors, boils down the essential impacts of tariffs and why it's so treacherous to guess the policy's winners and losers.

When investors find themselves with a very large position in a single stock or investment, they might be worried about the tax implications of selling their holding. Will Rockett, Sr. Director of Investment Strategy for Mercer Advisors, explains how the long-short strategy can help investors diversify out of that position without the tax hit.

Should investments in the private equity markets be a part of your financial plan? Today, Don Calcagni, Mercer Advisors Chief Investment Officer, and Josh Zumbrun, Mercer Advisors Director of External Communications, discuss the potential risks and rewards of private equity investing.

On the Eve of the election, Don Calcagni, Chief Investment Officer, and Josh Zumbrun, Director of External Communications, break down the cost of energy in the U.S. and around the world, and the factors that influence energy prices.

As we approach Election Day, Don Calcagni, Chief Investment Officer, and Josh Zumbrun, Director of External Communications, present a timely discussion on the many reasons to not allow political considerations to influence your investment planning decisions.

In this episode, Chief Investment Officer Don Calcagni is joined by Regional Vice President John Walker. The co-hosts discuss cryptocurrency, what it is, how it works, and if it should be part of your investment strategy.

In this episode, Chief Investment Officer Don Calcagni discusses the prospect of Federal Reserve interest rate reductions in 2024.

In this episode, Don Calcagni, Chief Investment Officer, discusses recent market volatility.

Chief Investment Officer Don Calcagni discusses population demographics and the global demand for U.S. stocks.

In this episode, Chief Investment Officer Don Calcagni, discusses an interesting comparison - investing in smart phones vs. investing in pizza.

In this episode, Chief Investment Officer Don Calcagni discusses how the “smart money” invests.

In this episode, Chief Investment Officer Don Calcagni, discusses whether or not our nation’s economy is in, or even moving toward, a recession.

Don Calcagni, Chief Investment Officer, provides an overview of the markets and the economy for the first half of 2023. He also shares several key lessons investors should take away from the last six months.

Chief Investment Officer Don Calcagni discusses inflation and interest rates. Both have dominated the headlines over the past year and will likely continue to do so. He details how each impacts our economy and personal financial well-being.

Today, Chief Investment Officer Don Calcagni discusses why growth stocks trade at a premium, and value stocks trade at a discount, relative to the broader market. He also shares one of the most important reasons why anyone would buy stock in a specific company.

Will Artificial Intelligence be a transformative technology in the financial world? Can AI help investors build better portfolios capable of outperforming the market? Today, Chief Investment Officer Don Calcagni discusses Artificial Intelligence, the impact it’s having now, and how it may influence the future of investing.

In this episode, Don discusses whether gold can be relied upon as a safe haven asset during times of market or economic stress.

In this episode, Chief Investment Officer Don Calcagni discusses the debt ceiling and the prospect of a U.S. debt default.