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The Odd Couple: The AI and Energy Gap the Market is Ignoring
The AI buildout is the biggest infrastructure story of this decade — and it runs entirely on electricity. That tension between what the market rewards and what it actually depends on is shaping up to be one of the defining themes of 2026. Here’s a clear-eyed look at…
April’s Rally Was More Than a Sugar Rush
In 1952, the fashion world was in a quiet crisis. Paris couldn’t agree on where a woman’s waist should sit. High waist, low waist, natural waist, no waist at all — every designer had a different answer, and the phrase “the wandering waistline” became the shorthand for…
April 2026 Market Update: Triple Threat
A year ago, we were writing about resilience. The S&P 500 had just closed out 2025 up nearly 18%, the AI trade was printing winners across mega-cap technology, and the Federal Reserve had pivoted back toward accommodation. Valuations were stretched, yes — but earnings…
March 2026 Market Update: Rotation, Resilience, and What Comes Next
February handed portfolio managers something worth studying carefully. Beneath the headline volatility, a structural shift quietly unfolded across equity markets—one that challenges the concentration thesis many portfolios have leaned on for the past three years. The…
Why August’s Rally Reveals More Than Most Market Observers Realize
August delivered something many seasoned investors thought was impossible four months ago: the S&P 500’s 20th record high of the year. But here’s what caught my attention—this wasn’t just another tech-driven surge. We witnessed something far more telling about the…
May 2025: Markets Defy Expectations
Trade Tensions: a TEMPORARY RESPITE BACK TO FORTIS PRIVATE WEALTH May was a turbulent month for the U.S. stock market. Trade tensions with China threatened to derail the bull market, but stocks staged an impressive comeback. The Dow Jones rose 4.16%, the S&P 500…