Finance

Jeremy Siegel of the Wharton School said the Federal Reserve’s inflation-curbing measures could lead to a 20% decline in the Nasdaq 100 from the November record. “I don’t think the pain is over yet,” he said.

Zane Griffin Talley Cooper, a doctoral candidate in the Annenberg School for Communication, said “proof of work” algorithms used to mine and trade cryptocurrencies need to be “intensely regulated.”

Sarah Hammer of the Wharton School said cryptocurrency investing isn’t right for everyone. “A fundamental principle of investing is that, as you approach retirement, your portfolio should be less and less volatile, so you can rely on it for retirement income. So it behooves folks to be cautious,” she said.

Daniel Taylor of the Wharton School said 2021 saw the most sales of stocks by insiders in a decade, in part due to an impending tax on adjusted gross income above $10 million. The tax savings have been “a powerful incentive to sell this year,” he said.

Robert F. Stambaugh of the Wharton School said that by driving up the price of green stocks investors may be inadvertently increasing the expected returns for less environmentally friendly stocks. Stambaugh co-authored a paper on the dynamic with Wharton colleague Lucian Taylor.

Itay Goldstein of the Wharton School said many people invest in cryptocurrency because they’re afraid of being left behind. However, he says, “the problem with cryptocurrencies is you really don’t know what the price should be. In some sense, almost anything could be justified.”

Keith Weigelt and Jill Bazelon of the Wharton School co-founded Bridges to Wealth, a financial literacy program that teaches West Philadelphians how to build intergenerational wealth. “We’ve had some people buy houses. We’ve had people be able to afford retirement and open up accounts for their children,” Weigelt said.