Fact Sheets
April 21, 2026
2026
As if rapid technological obsolescence caused by Artificial Intelligence (AI) and private credit problems weren’t enough to worry about, investors now face new and perhaps permanent uncertainties in the Middle East. The outcome of these concerns is very difficult to foresee. However, this type of investing environment often reveals value and can increase the utility of picking individual stocks.
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April 16, 2026
2026
Markets entered 2026 on relatively stable footing, but the first quarter proved more uneven beneath the surface than headline index performance suggested. The S&P 500 declined modestly, marking its first negative quarter after three consecutive gains, while the Nasdaq fell more sharply. In contrast, smaller-cap stocks held up better, with the Russell 2000 finishing slightly higher and the equal-weighted S&P 500 posting a small gain, reflecting a less concentrated market environment than investors have grown accustomed to in recent years.
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April 13, 2026
2026
The stock market started the year positively as strength in AI infrastructure related companies continued unabated into January. But February saw stocks pull back due to a weak jobs report, uncertainty related to the Supreme Court ruling against Trump tariffs, and rising tensions between the U.S. and Iran. The sell-off accelerated in March, as oil prices spiked above $100 a barrel and interest rates rose upon the outbreak of the Iran conflict, increasing the prospects for damage to the global economy.
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April 13, 2026
2026
U.S. equity markets in March were dominated by a sharp rise in geopolitical risk, which became the primary driver of volatility throughout the month. The late February US-Israeli attack on Iranian military targets and the subsequent escalation of the conflict triggered a dramatic spike in oil prices - at one point surging above $115 per barrel - fueling fears of a renewed inflation shock and potential global growth slowdown.
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April 8, 2026
2026
March was another volatile month for equities. Much of the market’s attention remained fixed on the war in Iran, the related spike in oil prices, and the inflation implications of a prolonged energy shock. At the same time, investors continued to reassess the valuation of crowded AI-linked winners, driving a rotation toward more cyclical and value-oriented parts of the market.
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March 13, 2026
2026
The rapidly expanding influence (power) of Artificial intelligence (AI) and its effects on the economy continue to create market volatility. While the outcome remains uncertain, the market is trying to discern winners and losers. We believe this environment could favor non-technology, “old world economy” companies, especially small capitalization value stocks. These stocks could be a beneficiary of AI efficiency improvements and offer potential safe havens which are not susceptible to AI disruption.
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