Last weekend, CBS Sunday Morning ran a piece on the growing popularity of prediction markets. They spotlighted Kalshi, a platform where you can now trade contracts on everything from Fed rate decisions to whether Kylie Kelce or Blake Lively will be a bridesmaid when Taylor Swift finally ties the knot. That’s a lighthearted example, but…
Imagine ten buildings, each the size of seven football fields, clustered together on a campus the size of Central Park, humming with enough power to run a city of a million people. That’s the Stargate data center in Abilene, Texas . . . one of many more such sites that will be built in Chat…
The safest investment on the planet is (still) a U.S. Treasury bond. Today, if you purchase a 10-year Treasury bond, you will receive 4.2% interest every year and get your money back at the end of the 10 years. Any other investment (stocks, corporate bonds, real estate, you name it) comes with at least some…
There are no elections any time soon. No inaugurations. No Big Beautiful Bills. No bombings by U.S. aircraft. No new significant tariffs. We tossed around the idea of not even publishing an Investment Commentary this month because there just didn’t seem to be that much to write about. What could we possibly write .…
Last week, President Trump authorized military strikes on Iran’s nuclear infrastructure. Targets included well-known sites in Fordow, Natanz, and Isfahan, which were hit with a mix of stealth bombers and Tomahawk missiles. The full extent of the damage remains unclear (and may stay that way), but what was surprising was that financial markets barely blinked.…
