Don’t Jump to Conclusions

Don’t Jump to Conclusions Friday’s IT blackout was another great lesson from the school of ‘You Never Know What’s Going to Happen Next’. Surprises happen all the time, but despite that fact, there are a lot of assumptions about the future embedded in the market today. Some of the big ones are: The economy is […]
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Discounts

Discounts The allure of getting a bargain is universal. Everybody loves a discount. Even when investing in stocks or bonds, you’d love to buy at a discount. The problem is that the discounts in financial markets are much less obvious than in the grocery store. The value of any financial asset can be estimated by […]
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All Roads Lead to Rome

All Roads Lead to Rome The Fed came out with their new ‘dot plot’ this week and based on the results, you’d think the economy is just rolling along. But initial unemployment claims were telling another story as initial claims hit 242,000last week, well above the 225,000 estimate, and is now trending upward once again. […]
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It Don’t Come Easy

It Don’t Come Easy We’ve been concerned that the Street’s view of AI has been a bit ‘one-sided’, that is, looking only at the benefits, and not focusing on the costs. That may have come to an end this week as AI had its first collision with reality when Meta offered weaker Q2 revenue guidance […]
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Things Are Not Always as They Appear

Things Are Not Always as They Appear There is an old saying about Wall Street prognosticators: Often Wrong, Never in Doubt. The first problem with prognostications is that they are typically very short-term oriented. The second problem is that they often hide counterintuitive facts. The third problem is they contain their own behavioral biases. Since […]
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The Elephant in the Room

The Elephant in the Room We have long held that the Fed has been the dominant force in both the stock and bond markets. Rates going down? Then markets are moving up, and vice versa. That has generally been true since the recovery started in 2009. More recently, the Fed has taken a back seat. […]
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Emerging Technology

Emerging Technology On Wednesday, we had our Future of AI and Healthcare Innovation event, with Marc Weiss, CIO of Open Field Capital, covering AI and more general technology and Marc Pentopoulos, CIO of Vista Point Capital, covering focusing on biotechnology and healthcare technology. If you were able to join us, we hope you enjoyed it […]
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