2025 Q1 Commentary

Our Thinking (not advice) Since the last report in early January, the world has turned upside down.  The America First policy along with the initiation of a trade war against the world is like a bull in a China shop.  The most used word since Trump’s inauguration is...

2024 Q4 Commentary

A Kaleidoscope of Possibilities What we have learned from the Great Financial Crisis (GFC) and the COVID pandemic is that, every so many years, endogenous or exogenous events shock our economy and our highly integrated and complex global system. Transmission...

2024 Q3 Commentary

Coming down the mountain – Don’t look down! It is the general consensus among mountain climbers and hikers that going up is relatively safer or easier than coming down. When descending, it is hard to be sure footed when distracted by the height and the fear of...