In 2026, equity markets are sending investors a mixed but generally constructive message. Corporate earnings have remained resilient, with many companies reporting solid revenue growth and improving profitability despite lingering inflation and periodic geopolitical shocks. At the same time, the major indices that dominate headlines remain heavily influenced by a relatively small group of mega-cap companies, especially in technology and communication services. That mix of solid fundamentals and … [Read more...]
April Market Commentary
Didn’t see a war coming in the first quarter… It felt like we would have a continuation of 2025, at least through the first half of 2026, but war always brings a downside. At least some of the stocks we have been interested in buying have better prices. The problem is the stocks we already hold also have better prices, lower ones! Which doesn’t help us! They say we have an average of one market correction every two years, some are worse than others, some happen so fast, if you went on … [Read more...]
Kevin Warsh’s Appointment as Fed Chair
What It Could Mean for the Economy and Investors The news is finally out — former Federal Reserve Governor Kevin Warsh has been nominated to lead the U.S. Federal Reserve, capping months of speculation and setting the stage for what could be a defining period in central banking. For investors and financial professionals alike, this leadership shift arrives at a moment of both uncertainty and opportunity. Warsh, who served on the Fed’s Board of Governors during the 2008 global financial … [Read more...]
January Market Commentary
Happy New Year! Do you feel like 2025 was just a blur? Lots of market action all year, maybe that’s why 2025 came and went so quickly? I hope the markets are a little calmer this year. Of course, the media won’t let us have calm…. They like madness! So probably skip as much media as you can this year. As far as markets and forecasting, what will happen in 2026, we don’t know. But, as I mentioned back in the summer, when the market came back so quickly after the April dip, statistically, … [Read more...]
Walking the Tightrope – Navigating Growth Concerns and AI Optimism
The investment landscape in late 2025 is defined by a paradox that's keeping even seasoned strategists up at night. Markets are experiencing a powerful convergence of AI-driven growth and evolving central bank policies, with scenarios ranging from a soft landing with managed disinflation to more challenging outcomes like stagflation or increased market concentration. Understanding this tension is crucial for positioning your portfolio effectively. The Growth Dilemma While pro-business … [Read more...]
Private Equity Could Be Headed for Your 401(k)
Approach very carefully and with a clear understanding of the trade-offs One of the most significant shifts in retirement investing in decades is underway: the Trump administration has signed an executive order intended to open up 401(k) accounts and other employer-sponsored retirement plans to private-market assets – including private equity, private credit, and real estate. For private-asset firms like Apollo, KKR, Carlyle, and Blackstone, this is an enormous opportunity. A $12 trillion … [Read more...]
Five Key Impacts of the One Big Beautiful Bill Act
Changes for equity investors and potential actions to consider in response On July 3, 2025, Congress passed and on July 4th the President signed into law the “One Big Beautiful Bill Act” (OBBBA), a sweeping fiscal package aimed at tax reform, business incentives, and federal budget adjustments. While broad in scope, the bill contains several provisions that could have material implications for public equity markets. Here are five of the most financially significant changes for investors and … [Read more...]
Implications of the U.S. Credit Rating Downgrade
More of a signal about long-term fiscal challenges, not an immediate worry The recent downgrade of U.S. sovereign debt by Moody’s marks a significant moment in American financial history. For the first time, all three major credit rating agencies have removed the United States from their highest credit tier. As an investor, it’s essential to view this development within its historical context and consider its practical implications for the markets and your investment portfolio. A Brief History … [Read more...]
April Newsletter
WTIA April 2019 Newsletter … [Read more...]
February Newsletter
WTIA February 2018 Newsletter … [Read more...]