Equities·May 24, 2026
Rebalancing NASDAQ exposure after a 14% YTD rally
How we are trimming concentrated technology weights and rotating proceeds into quality cyclicals without triggering taxable events.
Research & Market Intelligence
Signal, distilled from noise.
Weekly briefings from our research desk — concise, opinionated, and written for the long-horizon allocator.
Macro Brief·May 28, 2026·8 min read
The semiconductor super-cycle enters its capital expenditure phase
After 18 months of inventory normalization, hyperscaler capex commitments are now visible in fab utilization rates. We map the second-order beneficiaries beyond the obvious large-caps and outline portfolio implications for our growth-tilted clients.
Recent briefings
Commodities·May 19, 2026
Gold's structural bid: central bank accumulation in 2026
EM central banks added another 287 tonnes in Q1. We assess the durability of the bid and the implications for the 5–8% precious-metals sleeve.
Risk·May 12, 2026
Tail-hedging in a low-VIX regime: paying for insurance, cheaply
With realized volatility compressed, the cost of convex downside protection is at multi-year lows. A measured framework for sizing the hedge.
Macro Brief·May 5, 2026
Real yields, the dollar, and the case for international equities
A reframing of the dollar trajectory and what a softer DXY would mean for European and EM allocations within a US-anchored portfolio.
Equities·Apr 28, 2026
Earnings season postmortem: dispersion is back
Single-stock dispersion returned to pre-2023 norms this quarter — a constructive backdrop for fundamental, advisor-led selection.
Commodities·Apr 21, 2026
Energy: a barbell of integrated majors and selected midstream
Why we prefer dividend-yielding integrateds and infrastructure cash flows over upstream beta in the current oil-price regime.
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