Research & News
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 »
Daily Comment (October 7, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with thoughts on the rise in attacks on ships traveling through the Strait of Hormuz and the possibility of a broader conflict. Next, we examine growing speculation that the Treasury may reduce issuance of 20-year bonds and what that… Read More »
Daily Comment (October 6, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the most recent security incident that threatens to further undermine popular support for artificial intelligence. We next review several other international and US developments that could affect the financial markets today, including the latest signs that the… Read More »
Daily Comment (October 5, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a new release of crude oil reserves by the top industrialized countries. Of course, the move is geared toward trying to bring down energy prices as reports suggest the recent rebound in oil shipping through the Strait… Read More »