by Advising Partner | Sep 2, 2026 | Monthly Note
September 2026 Investment Update Two Markets, One Question Last month we wrote that the arithmetic of this market narrows to two paths: either corporate earnings rise to meet today’s prices, or prices adjust toward earnings. August did not answer that question....
by Advising Partner | Aug 1, 2026 | Monthly Note
August 1, 2026 August 2026 Investment Update Two Ways This Resolves Last month we wrote that history does not repeat itself, but it rhymes. July gave us even more of the rhyme. It also gave us something more useful than another historical echo: a clearer sense of how...
by Advising Partner | Jul 16, 2026 | Invested Interest
July 13, 2026 Private Credit in Your 401(k) and the SpaceX IPO: What the Headlines Aren’t Telling You Two of the biggest financial stories of the year share the same problem: the numbers everyone is quoting don’t mean what most people assume they mean. In...
by Advising Partner | Jul 1, 2026 | Monthly Note
July 2026 Investment Update History Doesn’t Repeat, But It Rhymes There is an old saying, often attributed to Mark Twain, that history does not repeat itself, but it rhymes. That phrase has been on our minds a great deal lately. The data we are watching right...
by Advising Partner | Jun 1, 2026 | Monthly Note
June 2026 Investment Update Higher Ground, Thinner Air The higher you climb, the thinner the air gets. The view keeps getting better, but there is less room for error, and it pays to watch your footing. That is a fair description of where the markets stand after May....
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