Long-Term Investing in a Shifting Landscape

The second quarter of 2024 provided the clearest signals yet that the Fed’s interest rate hiking cycle is having its intended effect. Consumer demand downshifted, housing slowed, and corporate loan defaults increased.

After the Hardware Boom: Long-Term Value Creation in the Generative AI Era

The modern technology stack can be visualized as an advanced jet airplane. Computer hardware is the jet engine and the fuselage; the chips, servers, and networking gear that provide the power and backbone for flight.

S&P 500 Achieves Record Start in Early 2024, Driven by AI Optimism

On the surface, the first six months of 2024 were a utopia for investors. The S&P 500 returned more than 15% with very little volatility. This advance occurred despite the Fed not cutting interest rates and with inflation remaining stubbornly elevated.