A numerator vs. denominator race at beta, alpha has no style
Our CROCI analysis highlights the importance of valuation assumptions
Mother of all profit cycles vs. secular climb in yields
Berlin’s 34‑point reform program could be a major success because it addresses a multitude of challenges. Patience might pay off for investors.
Lift off: To those that boldly go!
Have small caps seen a weak decade, or were large caps simply off the charts?
Benign, for now: Our forecasts for the next 12 months
Revisiting R^: How does the fiscal deficit affect the neutral Fed Funds rate?
Foreign investors rethink US assets, but the S&P 500 is global and digital
New world order for trade: What Next?
Tariff Disturbances: More uncertainty on trade and to what end?
Altitude Sickness: Breathe, go slowly, stick to the big markers
