Geopolitical Tensions Escalate While Risk Assets Fall
Markets traded lower this week as geopolitical tensions escalated in the Middle East and the price of oil surged +15%. The S&P 500 and Nasdaq each declined around -2%, with the Russell 2000 close behind at -1.5%. Most equity factors traded lower, including Growth, Value, and Equal-Weight, with market breadth weakening. The two exceptions were […]
Mega IRAs: Is It Time to Reposition Large Growth Assets?
More than 11,000 Americans now hold IRAs or 401(k)s worth $10 million or more, with over 1,000 above $25 million, according to the Joint Committee on Taxation. These balances don’t usually come from routine index fund contributions. They typically trace back to startup founders, venture capitalists, and corporate insiders who placed low-cost early-stage equity into […]
Week of July 27, 2026 – Weekly Economic Commentary
In light of the new tariffs imposed by President Trump and the sharp increase in the price of oil (Brent was above $100 this weekend but has fallen equally sharply to start the week), questions about Federal Reserve policy have flared again. Nothing has changed in the original calculus that has encouraged the Federal Reserve […]