Ken Griffin wants visitors to the offices of his $63 billion hedge-fund firm, Citadel, to have no doubt about its standing atop Wall Street.

“#1 Most Profitable Hedge Fund Manager of All Time” reads the message emblazoned on elevator doors at its Miami headquarters.

It refers to an unofficial industry ranking Citadel scaled following a one-year record haul of $16 billion in 2022. Griffin is eager to tell the world about that, too.

“We made more money than any firm has ever made in the history of capital markets,” Griffin said of Citadel and a sister company, Citadel Securities. “This is where people come when they want to change the world of finance.”

Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.

Three popular stock market valuation tools are saying the rebound of the past couple of weeks is a fools’ rally. Unfortunately, long-term investing isn’t so easy.

From Dow Jones Newswires

The Canadian economy is in weaker shape than the Bank of Canada believes, Capital Economics says, citing data that paints a troubling portrait of business investment. The forecasting firm notes Canada's factory sector is "firmly" in a recession, with manufacturing shipments at a two-and-a-half year low, and capacity utilization below prepandemic levels. "Firms seem to have little incentive to invest," CapEcon says. Meanwhile, nonresidential building permits--which incorporate industrial and commercial categories--are down sharply from earlier postpandemic highs. ([email protected]; @paulvieira)

The American Chemistry Council warns that the possible railroad worker strike in Canada, which could occur as early as next week, could disrupt the supply of chlorine for water treatment in the West Coast, including California. Chemicals needed for wood production in Canada have also been affected, which in turn would impact the U.S. construction industry. U.S. supply chains, including facilities in Texas, Louisiana, Pennsylvania and New York that rely on Canadian suppliers would face challenges sourcing raw materials, the industry group said in a letter to the National Security Council at the White House. Workarounds such as alternative suppliers and truck shipments are not sustainable. In 2023, U.S. firms sold more than $28 billion in chemicals to Canada. The U.S. imports around $25 billion in chemicals from Canada annually. ([email protected]; @estherfung)

From talent shortages to integrating AI, industry insiders see challenges ahead for the wealth management industry.

The market’s upbeat reaction to Scotiabank’s purchase of a stake in the Cleveland-based lender is an eyebrow-raising indicator.

Microsoft dominates this nascent market, but to scale it up more companies need to start buying these high-quality offsets.

Americans have more options than ever to shelter their investments from taxes. Here’s how to make smart use of five major types of accounts.

Amex, Chase and Capital One are opening a new crop of lounges for people who carry high-end cards. ‘It feels really like you’re going to something exclusive.’

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The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. The content is curated by the Dow Jones Newswires team using articles from the Newswires, Barron's, MarketWatch and The Wall Street Journal. The briefing is delivered to subscribers by email each workday morning at 6:30 a.m. ET. You can sign up here for email delivery. 

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