SpaceX: Patience is a Virtue

SpaceX: Patience is a Virtue Investing in SpaceX at its current market price presents a high-stakes trade-off between securing a piece of what could become a generational technology platform and paying an unprecedented valuation premium. Is this the deal of the century, or is it mass speculation? The company is certainly on the leading edge […]
READ POST

Could AI be Hitting a Wall?

Could AI Be Hitting a Wall? AI development and usage are growing with lightning speed, but the cost of producing AI is beginning to bump up against customers’ willingness to spend. AI leadership has migrated over the last few years as hyperscalers (Microsoft, Google, OpenAI, etc.) have released new AI models. In a nascent but […]
READ POST

Supply Shock

Supply Shock If you think this is another story about oil, you are mistaken. The law of supply and demand works throughout any free economy. It states that less supply should result in higher prices, other factors being equal. This is certainly true for oil, as we have recently experienced, but the same dynamic applies […]
READ POST

The Market Is Trading on Fundamentals, Not Speculation

The Market Is Trading on Fundamentals, Not Speculation There’s a narrative circulating that today’s stock market resembles the late 1990s dot-com bubble. While there are similarities surrounding excitement over artificial intelligence, the underlying market fundamentals tell a very different story. This market is not being driven purely by speculation. It is being driven by earnings. […]
READ POST

SpaceX: The 800-lb Gorilla Entering the Room

SpaceX: The 800-lb Gorilla Entering the Room The biggest kids play in the biggest playgrounds. In the stock market, the biggest playgrounds are the S&P 500 and the Nasdaq 100. Every time you buy an index fund based on those indexes, you are buying all of the stocks within them. The composition of those indexes […]
READ POST

Swimming Upstream

Swimming Upstream The news this week turned sour. We, and many others, have warned that an extended conflict in Iran would bring worsening economic consequences with each passing day. In its May 2026 Oil Market Report, the International Energy Agency (IEA) reported that global oil supply declined by a further 1.8 mb/d in April to […]
READ POST