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.