Research & News
Daily Comment (July 2, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our thoughts on the Warsh-led initiative to dismantle conventional forward guidance. Following that, we examine several key market-moving developments, including Meta’s strategic pivot, the encouraging inflation figures out of the EU, and the prospect of another government equity… Read More »
Daily Comment (July 1, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with a discussion of the Bank of Japan and the evolving question of central bank independence. We then turn to equities, analyzing how the AI‑driven rally has created a new set of market leaders. Next, we briefly address the… Read More »
Daily Comment (June 30, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with an analysis of the growing political backlash Russian President Vladimir Putin faces over the war in Ukraine. We then examine recent Supreme Court rulings and their implications for executive authority. Next, we briefly cover a proposal to regulate… Read More »
Daily Comment (June 29, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with key takeaways from Apple’s push to ease restrictions on the purchase of Chinese semiconductors. We then turn to the US-Iran conflict, outlining our assessment of the ceasefire’s durability. Next, we briefly examine Volkswagen’s restructuring efforts, the policy agenda… Read More »
Asset Allocation Bi-Weekly – The Evolution of the Tech Life Cycle (June 29, 2026)
by Thomas Wash | PDF AI is reshaping the fundamental business model of technology companies. For decades, many tech firms distinguished themselves through capital-light operations and strong cash generation, allowing them to deliver both growth and profitability. This model enabled companies to attract investors by telling a compelling growth story, one centered on adaptability, continuous… Read More »
Daily Comment (June 26, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with our view on speculation that OpenAI may delay its IPO. We then turn to rising tensions over tolls in the Strait of Hormuz. Next, we briefly discuss Italy’s push to overhaul its electoral system and the US government’s… Read More »
Daily Comment (June 25, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with key takeaways from Treasury Secretary Scott Bessent’s remarks at the Economic Club of New York. We then examine rising tensions between the US and its NATO allies and the implications for its strategic positioning against China. Next, we… Read More »