Trump Accounts: The Basics
An Overview for Households Trump Accounts are a new savings vehicle for children, created under the One Big Beautiful Bill Act. Below is a quick reference on how they work. Background Account Setup *Charitable and government contributions to Trump Accounts must benefit an entire “qualified class” of children, such as all kids in a given […]
Watching the High Bar For Earnings, Inflation and Iran – July 20, 2026
Good morning, With apologies, this morning’s Morning Note will be brief. I am deeply under the weather with some sort of summer ailment—cold, flu, or simply a good old-fashioned beatdown. Speaking of a beatdown, that also describes last week’s action across the major indices, led lower by semiconductors specifically and technology more broadly. It was […]
Location, Location, Taxation: Where You Hold Your Investments Matters as Much as What You Own
When it comes to portfolio construction, we understandably spend a lot of time on asset allocation – deciding how much to carve out for equities, bonds, real estate, and alternatives. It’s a driver of your long-term returns. But there is a second, quieter decision that can quietly boost your portfolio’s bottom line without requiring you […]
Week of July 20, 2026 – Weekly Economic Commentary
The return of war, or almost-war, somewhat unexpectedly dominates the economic debate. As oil prices return to the $90/bbl levels last seen in early June—and $100 Brent crude is a distinct near-term possibility—the question of what comes next and how countries and their economies will respond looms large. Should the MOU (Cease Fire Memorandum […]