Tariffs, Inflation, and Returns: How Investments Respond to Supply Shocks
Tariffs have reclaimed the economic spotlight. But with their timing and magnitude…
Did Real Assets Provide an Inflation Hedge When Investors Needed it Most?
. We own real assets for their diversification benefits generally, and for…
When Tariffs Hit: Stocks, Bonds, and Volatility
It’s been only a little more than a month since the US…
Small Caps, Large Caps, and Interest Rates
It’s often claimed that small-cap stocks are more interest-rate sensitive than their…
Gold and Inflation: An Unstable Relationship
Does gold hedge inflation? On average the answer is no, empirically speaking. But…
CAPE Is High: Should You Care?
Robert Shiller’s cyclically adjusted price-to-earnings ratio (CAPE) is approaching historically high levels. In…
