The surge in semiconductor stocks continued last week. The industry is on pace for its best year since 2009 in just the first 4+ months of 2026! Recent earnings results and commentary from leading executives in the industry signal that the growth of artificial intelligence is no longer just boosting demand for GPUs, but is …

Take the labor market off your checklist for potential downside risks. We’ve been in the camp for a few months now that the labor market is healthier than noisy headline payrolls suggest. The April payroll data bears that out, pointing to a labor market that is no longer the downside risk it was. For the …

I believe one of the most powerful and overlooked tools in portfolio construction is the use of factor investing. Factors are characteristics of stocks that help to describe their risk and return, offering another way to classify stocks, similar to sectors and industries. Factors can also replicate some of the things an active manager can …