Asset Allocation Reports
Asset Allocation Bi-Weekly – The Dip That Didn’t Bounce (March 2, 2026)
by Thomas Wash | PDF Retail investors have emerged as a crucial stabilizing force behind the ascent of the “Magnificent 7” in recent years. Rather than displacing institutional or ETF demand, their participation has added a new, resilient layer of support. This cohort’s propensity to buy and hold mega-cap tech stocks, even through periods of… Read More »
Asset Allocation Bi-Weekly – The Warsh Doctrine (February 17, 2026)
by Thomas Wash | PDF When Kevin Warsh, President Trump’s nominee to be the next Federal Reserve chair, last departed the central bank in 2011, it was more than a career move — it was an act of ideological dissent. He cautioned that the Fed’s post-crisis expansion of authority would erode its institutional independence and… Read More »
Asset Allocation Bi-Weekly – The Erosion of Exorbitant Privilege (February 2, 2026)
by Thomas Wash | PDF Japan’s pursuit of aggressive fiscal stimulus has put it in a precarious position. Prime Minister Takaichi has called snap elections for February 8 to leverage her popularity and improve her parliamentary majority to pass a major tax cut plan. The market’s response, however, has been a haunting echo of the… Read More »
Asset Allocation Quarterly (First Quarter 2026)
by the Asset Allocation Committee | PDF Recession likelihood is low over our three-year forecast period. Economic growth continues near trend, with policy spurring business investment. Fed policy will lean dovish, supporting risk markets. Inflation likely to remain in the 2.5-3.5% range, above the Fed’s long-term target. Risk markets are expected to enter a rotation… Read More »
Asset Allocation Bi-Weekly – The Great Silver Short Squeeze (January 20, 2026)
by Thomas Wash | PDF There is perhaps no market force more fearsome than a true short squeeze. In our increasingly digitized financial world, a perilous gap often emerges between “paper” positions and physical reality. A short squeeze occurs when entities that have sold a promise to deliver an asset, be it a stock, a… Read More »