Insights matter.

Following the last three years, a pause in risk assets was predictable—if not expected.  We noted as much in our Q3 2025 Market Outlook, which was based not on the...

We are writing to address the significant geopolitical developments over the weekend involving the United States, Israel, and Iran. We know this is weighing on many of our minds, and...

There have been a lot of headlines in recent weeks around the private credit markets, particularly as it relates to funds called BDCs (Business Development Companies). BDCs are pools of...

John Maynard Keynes is credited with saying that “markets can remain irrational longer than you can remain solvent.” This statement highlights two critical insights: We would propose this as a...

Balancing Vigilance with Optimism The second quarter of 2025 was anything but quiet—marked by Liberation Day (and the quick policy reversal shortly thereafter), Moody’s downgrade of US debt to Aa1,...

Having experienced the tech bubble, the global financial crisis, and the pandemic-era dislocation, we are no strangers to volatility. But this past week stands apart—not for the size of the...

One of the trends we spotlighted in our most recent quarterly commentary is the current valuation levels in public equity markets and what it means for forward-looking returns.  There’s no...

As we step into the new year, it’s natural to pause and reflect on the road behind us while considering what lies ahead. For investors, this moment often brings a...

Volatility Ahead Over the first half of the year, we’ve seen a bifurcation of experiences across our three major asset categories: Equities, Bonds and Real Assets.  For equity investors, the...

The world is an uncertain place—it always has been and always will be. The recent past is a perfect reflection of that reality—a global pandemic, multiple military conflicts, monetary policy...

How should investors make sense of what is happening in the markets and what is happening across global economies?  It’s admittedly THE million-dollar question.  Short-term interest rates are the highest...

There has been a lot for investors to digest throughout this year—the war in Ukraine, persistently high inflation, one of the fastest rate hiking cycles in history and the residual...