Earlier this past month, a low-level employee at Anthropic (one of the two leading Artificial Intelligence (AI) companies) sounded alarm bells on social media about the potential for AI to kill us all. The post quickly gained millions of views after it was reposted by a more senior researcher at the company: It was quickly…
In December 2010, we wrote an article called PIIGS Get Slaughtered about the debt crises unfolding in Portugal, Italy, Ireland, Greece and Spain (a.k.a. “The PIIGS”). At the time, these countries were being forced to confront the consequences of years of borrowing and spending as investors increasingly questioned their ability to repay their debts. We…
Every major technological shift creates something new. The internet made information nearly free and instantaneous. Smartphones put that information into our pockets. Social media gave everyone a megaphone. And now artificial intelligence (AI) is making content nearly limitless . . . whether the content is true or not. Spend a few minutes scrolling through X…
The Federal Reserve got itself a new leader this past month as Kevin Warsh took over as chairman, replacing the beleaguered Jerome Powell. "Beleaguered," because Mr. Powell and President Trump never seemed to agree on the proper level of interest rates . . . whatever that might be. The president has long preferred lower interest…
The headlines from the Iran conflict have started to fade. Stocks have recovered, and life feels like it has mostly returned to normal. But the war in Iran and the disruption in the Strait of Hormuz continue to leave energy markets unsettled. As we discussed in our March Investment Commentary and recent webinar, the Strait…
