During my eighty-seven years, I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.”
April 15, 2026
Change is underway in the equity markets so far in 2026. In our year-end 2025 letter we alluded to the potential for a significant leadership change. We noted the high valuations and speculative excesses notably within the artificial intelligence space. It was those areas that have narrowly led the market for several years. ...
March 02, 2026
If you haven't heard yet, this year has brought a lot of changes to the tax landscape, and there's a good chance your taxes could be lower. From SALT deduction increases to standard deduction increases, and even new bonus deductions, you won't want to miss the details on what you (or your CPA) should...
February 19, 2026
The long story short: Overall stock prices have been driven higher by a very narrow group of stocks for several years, and to see the revival of “dinosaur” stocks starting to participate is a very welcome, healthy sign for the overall market. We expect this to continue and is a very bullish sign for the equity markets...
January 12, 2026
Both the equity and bond markets delivered solid gains in 2025, marking three consecutive years of positive gains.
2025 was marked by heightened anxiety throughout the year. However, that anxiety proved mostly unwarranted as markets around the globe saw steady gains after the first quarter. The most significant change from one year...
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