our insights

Market Update 1. Exactly a month ago, Europe was outperforming the U.S. year-to-date by over 7% (8.2% to 1.1%).  Today that spread is less than 2% (-4.4% to -6.2%).  As bad as things have been here in March, overseas it has been worse (except for Latin America).  Asia saw their 14% rally erode, settling with […]

End of February Market Update This may be the biggest AI month in terms of impact that we’ve had so far.  Markets had priced in winners before, but in February 2026 they finally got around to thinking about who would be the losers.  And they decided that the companies that provide software as a service, […]

Summary U.S. stocks added another 2.6% last quarter, bringing its full year return to 17% [1] .  It was a rather subdued quarter compared to the previous three quarters, and once again international stocks performed substantially better.  Investors felt a little more cautious about technology stocks last quarter as concerns grew as to whether the hundreds of billions being spent on artificial intelligence (AI) would have the kind of payoff that big tech stock prices implied.  As the focus...