Opinions

Identifying resilient companies in an uncertain macroeconomic environment requires more than just screening for profitability or recent performance. The real test is how a business behaves when conditions tighten and change – whether it can preserve margins, maintain relevance, and continue delivering value. We give a framework that outlines the traits that help companies not […]

Steel is no longer just a commodity story; it’s a geopolitical one. The industry sits squarely at the convergence of politics, industrial strategy, and macroeconomic transformation. For investors, steel is becoming less about riding volatile price cycles and more about positioning within a broader national agenda: economic resilience supply chain security, and industrial sovereignty   […]

Gold, silver, and platinum each have distinct roles in global markets, shaped by unique demand drivers and economic sensitivities.  While gold acts as a strategic hedge against currency debasement and fiscal instability, silver is tightly linked to industrial growth, especially in renewable energy.  Platinum, though less discussed, has a growing role in clean automotive and […]

More traders are seeking alternative opportunities outside the US as market leadership narrows and headline risk grows.  Investors (i.e., those with longer time horizons), meanwhile, are looking for better valuations and stronger diversification without sacrificing the regulatory stability and transparency that developed markets provide.  Europe and Japan can be compelling because they offer a mix […]

Tariffs, while framed as policies to protect domestic jobs/industries, function as a redistribution mechanism across classes. The lower class takes the biggest relative hit, as tariffs raise the cost of essentials that make up a larger share of their spending. The upper-middle class bears greater overall loss in asset value and global opportunity. The ultra-wealthy […]

The US dollar remains the backbone of the global financial system, anchoring the majority of international reserves, trade, and capital flows.  While rising deficits, monetary expansion, and geopolitical tensions have sparked growing concerns about its durability, most collapse narratives overlook the structural mechanics that underpin dollar dominance. History shows that reserve currency transitions are slow. […]

With tariffs looming large, business stability requires clear, multilateral trade policy frameworks with predictable enforcement mechanisms – i.e., ideally through negotiated trade pacts rather than unilateral tariffs. In the meantime, businesses can build resilience by diversifying suppliers, holding strategic inventory buffers, and modeling scenarios based on multiple tariff regimes. Inevitably, it will reallocate more resources […]

Some short sellers may see the Musk-Trump feud as a tactical entry point, especially given Tesla’s regulatory exposure and reliance on federal subsidies. Antagonizing a former or future president with influence over policy could raise real headline and policy risk. Nonetheless, shorting Tesla has long been a perilous trade due to its fan-driven retail base, […]

The EV market in 2025 has seen global sales increase 29% year-to-date. Nonetheless, trade policy uncertainties and the potential reduction of EV tax credits could impact adoption rates. Geopolitical tensions also disrupt EV supply chains (i.e., especially for critical minerals, batteries, and semiconductors). In turn, this could raise costs, delay production, and prompt a reshaping […]

Ford’s stock is out of favor due to large and ongoing financial losses in its electric vehicle division, which are projected to reach between $5 billion and $5.5 billion in 2025. These EV-related deficits, coupled with concerns about high warranty costs and uncertain future growth prospects, have led to a mostly neutral-to-negative stance from most […]