OPTIONALITY
Optionality, Flexibility, Adjustability……. However one might describe the world’s economy, all the above descriptors would seem appropriate. Since the start of 2026, the globe has had to adjust to an…
Investment Commentary
INFRASTRUCTURE INVESTING: The Assets Underpinning the Global Economy
These days, it feels like the entire US road system is covered in orange cones. Infrastructure spending has soared across the country, fueled by historic federal funding. But it’s not…
The Productivity Challenge: How Growing Productivity can Raise Living Standards and Heal the US’s Finances
When people and machines get better at their jobs, when an hour of work yields more output, everyone can be paid more without prices rising. That is productivity growth, and…
Investment Strategies: Choosing the Right Engine to Stay Retirement Ready
In our previous sessions, we explored the changing landscape of long-term savings and the specific accounts from 401(k)s and IRAs to taxable brokerage accounts designed to hold your capital. But once the…
FUNDAMENTAL vs. EMOTIONAL
FUNDAMENTAL vs. EMOTIONAL In the midst of another war in the Middle East and this time with Iran, it is easy to lose a sense of direction, to become confused…
A DOLLAR FOR YOUR THOUGHTS
In May of last year, I wrote a piece for this newsletter titled The Dollar Dilemma, in which I detailed how American investors were increasing their holdings of global assets and non-US…
“Priced In” – How Expectations Shape Investment Returns
“Priced In” – How Expectations Shape Investment Returns If you’ve ever been puzzled by watching the stock market decline on what seemed like good news, or rally when a headline…
Understanding Retirement Accounts: Your First Step Toward Financial Security
The retirement savings landscape has changed, and for many Americans, the greatest barrier isn’t a lack of desire to save but uncertainty about where to begin. Faced with unfamiliar terms like 401(k), IRA,…
There is an ETF for That
Over the past year, precious metals such as gold and silver and industrial metals like copper have surged in price, reaching all-time highs just last week on geopolitical uncertainty. You…
Predictions Are Hard – Especially About The Future*
Let’s start our final Commentary of the year with a look back at the planks of our investment rationale for 2025, which we authored in late 2024. 1. Corporate earnings are expected…