Commentary and Research Papers
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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March 13, 2026
2026
Over the past two decades, the Cambridge Associates Private Equity Index has beaten public equity benchmarks by a wide margin. But, as the saying goes, past performance is no guarantee of future returns. Today’s private equity offerings for retail investors are distinguished by high fees, questionable liquidity, redemption pressures, and elevated valuations.
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March 6, 2026
2026
U.S. equity markets experienced a choppy and rotational month in February, shaped by shifting sector leadership, mixed economic data, and renewed geopolitical and inflation concerns. Early in the month, equities extended the strength seen in January, supported by cooling inflation reports and solid consumer spending and retail sales data. However, volatility increased as concerns about AI-driven disruption spread across industries, with several media reports highlighting the potential for artificial intelligence to displace portions of the labor force.
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February 19, 2026
2026
From the beginning, our thesis has been simple. Sports is a scarce, global asset class with durable economics that sit meaningfully outside traditional market cycles and the assets themselves are largely uncorrelated with conventional drivers of equity returns. As a result, performance will at times look different from broad indices. That divergence is not a risk we seek to eliminate; it is a feature we expect to live with patiently.
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Founded in 1984, Pinnacle Associates, Ltd. is a forward thinking, multi-billion dollar investment advisory firm focused on transparency and putting clients first. We provide advice to individuals and families, institutional investors and other financial institutions.
