Michael's Blog

The AI investment cycle still has more runway ahead, but monetization timing, return on investment, and enterprise applications risks strengthen the case for diversifying within and beyond Big Tech to capture a broader set of opportunities The launch...

Given today’s commodity market carnage, I’d like to look at economic signals emanating from U.S. Dollar Assets. Treasury bonds used to be boring. Apply a 2 % inflation expectation, a real growth rate estimate to arrive at estimate for a fair yield. For...

The S&P 500 has always been viewed as a balanced cross-section of the U.S. economy. Over time, it has slowly transformed into a tech- and AI-dominated index. As 2026 begins with markets near record highs, this fact should be top of mind for investors...

Today we’ll examine China to find how policy and fundamentals can continue to foster economic growth. Chinese equities closed out 2025 with strong annual gains. The MSCI China Index surged 31 %, while Hong Kong’s benchmark Hang Seng Index rallied 28 %...

Good Morning, Happy New Year ! Hoping that you enjoyed the holiday season. 2025 saw global stock market power through tariff uncertainty to all-time highs many cases. Today we’ll examine whether the three-year winning streak can be extended. What will...

Good Morning, Happy New Year ! Hoping that you enjoyed the holiday season. 2025 saw global stock market power through tariff uncertainty to all-time highs many cases. Today we’ll examine whether the three-year winning streak can be extended. What will...

Another rate cut from the Federal Reserve this week has taken U.S. interest rates into a new era where every rate cut means that policy gets easier …. and decisions only get harder. As widely expected, the Fed delivered its third consecutive rate cut...

While rising tides lift all boats – the amount risen depends on the boat ! Not only has the U.S. equity rally been uneven in 2025, the segment of the market that has dominated during this bull market cycle has been narrow and concentrated mainly in the...

Long-term economic trends have left the U.S. economy increasingly reliant on spending by upper-income households. Let’s unpack the potential implications for economic stability and Federal Reserve policymaking. In recent years, The U.S. has cut interest...