There was much handwringing surrounding the tariffs introduced during Trump’s first term. We feel much of the handwringing had to do with...

After the decline in 2022, we wrote that usually one of two things happened in the year following a decline in the S&P 500. Either the...

Fluctuations in population necessitate innovation We continue to think that population dynamics are the most important economic variable...

As bottom-up stock pickers, curiosities often draw us to think about structural intricacies often ignored by top-down macroeconomic...

2024 is a presidential election year, and we expect it will continue to be an interesting year in politics. It is important to remember...

This time last year, we were wondering what might be in store for 2023 after an ugly 2022. We shared a historical perspective of what...