Famed American economist and Nobel Laureate Milton Friedman often said that monetary policy works with “long and variable lags.” Conventional wisdom is that the effects of […]

Private equity (PE) is a difficult asset class to benchmark, but by every available measurement it has produced excellent returns over long periods of time. The most […]

Recap of March 10 As I am sure all of you are aware at this point, on Friday, March 10, 2023, the California Department of Financial […]

As I am sure all of you are aware at this point, on Friday, March 10, 2023, the California Department of Financial Protection and Innovation took […]

The market narrative appears to be approaching a crossroads after an oddly sanguine few months. The hopeful chatter of a “Fed Pivot” now seems starkly at […]

The -18.1% return for the S&P 500 in 2022 was the fourth worst calendar year return for the broad US large cap equity index since 1973. […]

Last week the Federal Reserve Bank of Kansas City hosted its annual Jackson Hole Economic Policy Symposium. The Jackson Hole Symposium had humble beginnings with then […]

“In the short run, the market is a voting machine but in the long run, it is a weighing machine.” –Warren Buffett Among Warren Buffett’s many insightful investment lessons, […]

Market Commentary May was a tale of two halves in global markets with early month jitters giving way to late month dip buying as the narrative […]