Research & News
Daily Comment (January 21, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with a deep dive into the volatility hitting the Japanese bond market. We then provide an update on the US-EU standoff over Greenland and the potential for a new round of US trade talks with China. Further analysis covers… Read More »
Daily Comment (January 20, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the latest on the Greenland purchase dispute, which has driven down asset values around the globe. We next review several other international and US developments with the potential to affect the financial markets today, including more evidence… 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 »
Daily Comment (January 16, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Note: Due to the holiday, there will be no Comment on Monday, January 19. Our Comment begins by examining the resurgence of enthusiasm around artificial intelligence. We then analyze key domestic and international developments, including new signals from Federal Reserve officials on… Read More »
Daily Comment (January 15, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with an analysis of the White House’s discussions on Greenland and their implications for NATO’s future. We then transition to other developments, including a breakdown of the latest Fed Beige Book and the de-escalation of tensions between the US… Read More »
Daily Comment (January 14, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with an analysis of the president’s pressure campaign on Iran, highlighting its significance for US foreign policy. We then examine key domestic initiatives, including the White House’s push to cap credit card interest rates and improve home affordability, as… Read More »
Daily Comment (January 13, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today first discusses one way to understand the US’s new foreign policy now that we’ve had a year to observe it in practice, taking into account the administration’s new national security strategy and analysis of peak events such as the… Read More »
Bi-Weekly Geopolitical Report – Investment Implications of the New US National Security Strategy (January 12, 2026)
by Patrick Fearon-Hernandez, CFA | PDF As required by law, the new United States administration released its updated National Security Strategy in December 2025 (NSS 2025). As many observers have noted, the document marks a dramatic shift from the traditional NSS documents of the Cold War and the Globalization eras, not only in terms of… Read More »