Is today’s U.S. stock market riskier than the top of the internet bubble in 2000? While 2025 bulls point to a lack of a frothy IPO market, 2025 bears point […]

The U.S. dollar (USD) has experienced a historically bad year. Its return through the first half of the year was the worst in over 50 years. Through the third quarter, […]

Since invoking the International Emergency Economic Powers Act (IEEPA) on April 2nd, 2025 (“Liberation Day”), President Trump has overseen the most dramatic shift in U.S. trade policy since the Smoot-Hawley […]

The past twenty-five years have been marked by asset bubbles, a global financial crisis, multiple bear markets, and rock-bottom interest rates for nearly half of the time. As we enter […]

Artificial intelligence (AI) was a 2024 leadership theme across asset classes. Whether it was data centers in real estate, energy assets powering data centers in natural resources, semiconductor companies fueling […]

Entering 2023, the consensus outlook was bearish for most asset classes. Inflation would remain stubbornly high. Interest rates would continue to rise and remain higher for much longer. Corporate earnings […]

U.S. equities bears have been out in full force during the first nine months of 2023. The most common bearish thesis over the summer sounded something like this: The Federal […]

Less conventional asset classes including Real Estate, Natural Resources and Alternatives helped insulate our portfolios in an incredibly challenging market environment last year. By most measures, 2022 was a challenging […]

A shift in focus may be upon us in U.S. equities. Investors had a lengthy list of worries in the first three quarters of 2022, starting with the omnipresent war […]

Are we poised to relive the economic malaise of the 1970s and early-1980s? Inflation emerged as the primary concern for the markets during the second quarter. The Consumer Price Index […]