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Wednesday, 28 October 2026

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Reprogramming the Fed’s Reaction Function

The month following Fed Chair Warsh’s first meeting has seen no shortage of drama, as U.S./Iran hostilities resumed (then paused again), inflation surprised to the downside, and the market ascribed an increasing probabi…

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Flashing Yellow Light Guides Three Rules

Since our last ‘Three Tactical Rules’ update on June 9th, the S&P 500 is up less than one percent. The stagnation by the equity index has been due to the cooling of the AI trade. Like the S&P 500, the Three Rules have a…

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Leaning Into Growth, Wisely

Lean into growth, but diversify. That was an interesting midyear market call I heard this week, and one that rang slightly surprising — and, yet, not surprising at all.

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