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Powering the AI

If, like me, you’re old enough to remember the 1990s internet bubble, today’s AI excitement might be giving you flashbacks. The parallels are unmistakable. Back then, a new technology was grabbing public interest and investment dollars because it promised to...

A Valuation Conversation

You may have noticed the stock market rising lately. Much of the gain isn’t so much “the market” as a handful of mega-cap stocks. Nonetheless, the bulls are clearly in charge. The question is how long they will stay there. History suggests longer than many market...

Higher for Longer?

“There is a difference between you and me. We both looked into the abyss, but when it looked back at us, you blinked.” -Batman, referencing Nietzsche in 2010’s Justice League: Crisis on Two Earths -My first thought on the quote: Think Jerome Powell and the FOMC The...

When Readers Speak

Today, we have a different kind of letter. I’ve been in California for some rather innovative and hopefully life/health span-extending medical treatment. I’m fine, but it has been a bit tiring. So this week, I’m handing the keyboard to you, my intrepid and smart...

Choose Your Own Economy

If you’re a parent or grandparent, you may know of the “Choose Your Own Adventure” storybook series. Written in second person, they make “you” the hero. The reader makes choices as the story unfolds, leading to one of several possible endings. That format is...