Research & News
Daily Comment (October 16, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our thoughts on rising concerns about the AI buildout. We then turn to geopolitics, examining the US’s potential decision to relax sanctions in response to growing voter pushback. Next, we briefly cover a bill to tax data centers,… Read More »
Daily Comment (October 15, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with our thoughts on speculative AI debt. Next, we discuss growing signs that inflationary pressure is building in the economy. We then briefly cover the new ways that hyperscalers are getting communities to sign off on data centers, as… Read More »
Daily Comment (October 14, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with an update on the escalating conflict in the Middle East, particularly as Saudi Arabia becomes more deeply involved. Next, we discuss how Fed officials continue to keep forward guidance alive even as the Fed chair tries to do… Read More »
Daily Comment (October 13, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with an overview of the International Monetary Fund’s latest forecasts for global economic growth. We next review several other international and US developments that could affect the financial markets today, including an update on the war in Iran… Read More »
Bi-Weekly Geopolitical Report – The AI Buildout: Profits, Productivity, and the Risk of Overcapacity (October 12, 2026)
by Thomas Wash | PDF Famed investor Charlie Munger once said that “the great lesson in microeconomics is to discriminate between when technology is going to help you and when it is going to kill you,” adding that most people do not get this straight in their heads. That lesson is especially relevant today. Investment… Read More »
Daily Comment (October 12, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the latest on the war in Iran, focusing on a major new attack on Saudi Arabia by Iran-backed Houthi rebels in Yemen. We next review several other international and US developments that could affect the financial markets… Read More »
Daily Comment (October 9, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with concerns surrounding AI companies and their ability to meet soaring investor expectations. We then turn to geopolitics, examining the US-China AI race and its broader diplomatic fallout. Next, we briefly cover Italy’s recent electoral reform, provide an update… Read More »
Daily Comment (October 8, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with thoughts on the FOMC meeting as Fed officials focus on the AI buildout. Next, we examine rising civil unrest in Europe and why it may not be a reason to abandon the region just yet. We then briefly… Read More »