VantagePoint: Artificial Intelligence Investing After the First Wave

A year ago, in our three-part series Navigating the AI Revolution, the central question for investors was where artificial intelligence’s (AI’s) disruptive potential would translate into meaningful economic and market change. That question now has a clearer answer. AI is already reshaping parts of the economy and market as capabilities improve rapidly, enterprise adoption broadens, and […]

June 2026

Underinvestment in the Electric Grid Has Created Opportunity Across Transmission, Distribution, and Grid-Enabling Technologies

The wires are the opportunity, both literally and metaphorically. A lot of mindshare and capital have gone to solar power and electric vehicles, but what has been underappreciated is the grid infrastructure that connects them—and where a meaningful investment opportunity may lie. As we wrote in our 2026 Outlook, investors should prioritize cross-asset exposure to […]

June 2026

Circular Economy Models Can Improve Supply Chain Resilience

The circular economy is becoming an increasingly mission-critical business strategy in a more volatile world. Tariffs, shipping choke points, persistent inflation, and AI-led growth are exposing the weakness of linear supply chains. Regenerating value through reuse and recycling in circular models offers particular appeal: greater supply security, more stable input costs, and lower exposure to […]

June 2026

The Importance of Water Reliability Is Growing, as Is the Investment Opportunity

In many geographies, the availability of water is shifting from a ubiquitous input to a strategic economic resource, and markets may be underpricing the speed of that transition. While certain regions have learned to operate with scarce water resources, most developed economies have benefited from cheap and abundant water that is treated as an afterthought […]

June 2026

VantagePoint: The Rearview Mirror Problem

For much of the past 15 years, investors were rewarded for concentration. Portfolios tilted toward US assets, especially technology stocks, outperformed, while diversification often felt like a liability. Falling rates, subdued inflation, and a strong US dollar reinforced that pattern, and many portfolios were built on the assumption that those conditions would persist. That assumption […]

April 2026

Will the Iran Conflict Trigger a Pandemic-Style Inflation Spike?

No, we do not think this is the likely outcome. While the path forward is highly uncertain, several key factors—including the typically limited pass-through of energy price increases to broader inflation, the possibility that the conflict remains short-lived, and the unique circumstances behind the 2021–22 inflation surge—suggest that a repeat of pandemic-era inflation is unlikely. […]

March 2026

Will the Trump Administration’s Affordability Policies Jump-Start the US Residential Real Estate Sector?

No. The proposed policies are unlikely to swiftly resolve the challenges facing US residential real estate. While recent proposals may offer marginal support, they are not significant enough to improve deteriorating housing affordability. Given that most policy measures do not meaningfully address the core issues—limited supply and elevated mortgage rates—we do not expect a significant […]

February 2026

2026 Outlook: Diversifier Views

Investors should lean into hedge funds in 2026 by Sean Duffin Hedge funds remain a vital part of diversified portfolios, and building resilience requires a thoughtful mix of strategies. In today’s environment—marked by elevated dispersion, low correlations, and ongoing policy uncertainty—equity long/short (ELS) managers are especially well positioned. Advances in AI and persistent tariff-related disruptions […]

December 2025