What’s Driving Stocks, Bonds, and All-Time Highs
The stock market has climbed to new all-time highs following several periods of uncertainty this year. This is welcome news for investors, especially because many parts of the market have contributed to the rally, including sectors such as Energy, Information Technology, and Industrials. Interest rates are also near multi-decade highs, pushing bond yields to their […]
Pros and Cons of Owning Your Own Financial Services Firm
Few things in life are all good or all bad. Ice cream is delicious, but also fattening. Exercise is hard and painful, but it’s easier to justify an extra scoop of ice cream after a hard workout. As with everything else in life, owning your own financial services firm comes with its own list of […]
Monthly Market Update for July 2026: AI Volatility, Rising Yields, and Middle East Tensions
Markets experienced a challenging environment in July with major indices ending the month slightly lower. However, this is in the context of healthy year-to-date gains and a broad market that is not far from its all-time high. A number of factors drove day-to-day market moves, including new concerns around AI investments, Treasury yields climbing toward […]
What Rising Real Yields Mean for Investors
Treasury rates have surged to their highest levels in recent years due to a combination of concerns around inflation, oil prices, the national debt, and the Fed. The 10-year Treasury yield is once again above 4.6% and the 30-year has been above 5% for the longest streak since 2007.1 In general, this is positive for long-term […]
The AI Value Chain: Investor Perspectives on Data Centers, Semiconductors and More
In our modern world, computers and cell phones have become everyday necessities that are expected to simply work. Yet, there is unbelievable complexity behind not only the engineering that makes them possible, but also in the supply chains that allow millions of devices to be manufactured. Similarly, artificial intelligence (AI) may seem simple when using […]
How to Create a Succession Plan for Your Financial Services Firm
Marcus Aurelius is widely considered a great emperor who also takes a lot of the blame for the fall of Rome. While he did great things for the empire when he was alive, his biggest failure was his succession planning for the empire. Marcus Aurelius was the last of the Five Good Emperors of Rome, […]
The Role of Cash in a Portfolio
The baseball player Yogi Berra once said that “a nickel ain’t worth a dime anymore.” With inflation still elevated, many investors and consumers may be feeling this way as well. Not only are everyday costs higher due to energy prices, but short-term interest rates have fallen over the past two years. This means that investors […]
Mid-Year Outlook 2026: Key Investor Lessons for the Second Half of the Year
There is a saying that smooth seas do not make skillful sailors. When it comes to investing, at no time has this been more true than during the first half of the year. Investors faced major events including the war in Iran, oil prices pushing inflation to multi-year highs, and questions around artificial intelligence (AI). […]
Consumer Financial Health: Record Lows and Highs
Consumer spending is the engine of the U.S. economy, accounting for roughly two-thirds of overall economic activity. In theory, when consumers feel financially secure and optimistic, they tend to spend more, driving corporate profits and economic growth. When they feel uncertain, they may tighten their belts. In reality, how consumers behave depends on many factors, […]
Two Fed Eras: Greenspan’s Legacy and the Future Under Warsh
Alan Greenspan once said “since I’ve become a central banker, I have learned to mumble with great incoherence.” Greenspan, who passed away recently at the age of 100, served as the Chair of the Federal Reserve from 1987 to 2006 and became one of the most influential economic figures of the 20th century.1 As we reflect […]
