Diversions July 31, 2014

Survey Finds Happiest Cities in the U.S.

The four happiest cities are south of the Mason-Dixon line, according to a study by the U.S. National Bureau of Economic Research.
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Louisiana, eastern Virginia and the nation’s capital are among areas with the happiest cities in America. The northeast did not fare well, with New York and Jersey City, New Jersey, making the list of unhappiest metropolitan areas.

The study, which asked residents across the U.S. about their satisfaction with life, found that many people in “unhappy” cities likely sacrifice their happiness in return for lower housing costs and higher incomes.

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“Our research indicates that people care about more than happiness alone, so other factors may encourage them to stay in a city despite their unhappiness,” says Joshua Gottlieb of the University of British Columbia’s Vancouver School of Economics, and a co-author of the study.

The happiest metropolitan areas with populations of more than 1 million are:

 

  1. Richmond-Petersburg, Virginia
  2. Norfolk-Virginia Beach-Newport News, Virginia
  3. Washington, District of Columbia
  4. Raleigh-Durham, North Carolina
  5. Atlanta
  6. Houston
  7. Jacksonville, Florida
  8. Nashville, Tennessee
  9. West Palm Beach-Boca Raton, Florida
  10. Middlesex-Somerset-Hunterdon, New Jersey

 

The happiest metropolitan areas with populations of less than 1 million are:

 

  1. Charlottesville, Virginia
  2. Rochester, Minnesota
  3. Lafayette, Louisiana
  4. Naples, Florida
  5. Baton Rouge, Louisiana
  6. Flagstaff, Arizona
  7. Shreveport, Louisiana
  8. Houma, Louisiana
  9. Corpus Christi, Texas
  10. Provo, Utah

 

Unhappiest metropolitan areas included New York; Pittsburgh; Louisville, Kentucky; Milwaukee; Scranton, Pennsylvania; St. Joseph, Missouri; Erie, Pennsylvania; South Bend, Indiana; Jersey City, New Jersey; and Johnstown, Pennsylvania.

Data & Research July 30, 2014

Like Investors, Advisers Eyeing Volatility

Financial professionals were increasingly focused on market volatility in the second quarter of 2014, says a quarterly adviser sentiment survey from Fidelity Financial Advisor Solutions.
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The second quarter results of the “Fidelity Advisor Investment Pulse” survey show market volatility has jumped from its third-place position during the first quarter of 2014 to top the list of concerns cited by financial advisers heading into the second half of 2014.

Fidelity says many advisers are taking advantage of sector investing to diversify their clients’ portfolios, manage risk and help generate potential alpha. Many advisers surveyed cited the challenge of ensuring that their clients continue to benefit from the bull market, while also protecting them against the downside (see “Downside Protection Has a Price”).

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“Based on our second quarter survey results, we know that many advisers are thinking about a possible market correction, but at the same time they are looking for ways to find growth and generate income for their clients,” explains Scott Couto, president, Fidelity Financial Advisor Solutions. “We believe that the differences between winners and losers among asset classes and individual securities are likely to increase, favoring active asset managers with the ability to conduct the research necessary to identify those opportunities offering the best chances for growth.”

Fidelity investment and research teams see signs pointing to continued growth in equities, Couto adds, especially in the areas of value stocks and certain segments of the economy, including the technology sector and the health care sector.

Portfolio management and investment allocation efforts also topped advisers’ lists of concerns at the end of the second quarter, Fidelity says, with many advisers suggesting they are on the lookout for undervalued securities with room for growth.

Moving down the list of concerns, advisers appear somewhat less concerned with questions about interest rates, bonds and fixed-income investing. Still, advisers are taking steps to help clients prepare for an unfamiliar rising interest rate environment. They are also interested in finding ways to safely guarantee yield within client portfolios.

More information on the second quarter “Fidelity Advisor Investment Pulse” survey is available here.

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