Year: 2026

Around 2010, I was invited to play a round of golf with the 43rd President of the United States, George W. Bush. Given the state of my golf game, I hesitated at first but then came to my senses.

America’s 250th-anniversary is a useful lens for both citizenship and investing: despite unsettling headlines, we think the country’s long-term fundamentals—and the opportunity set for equity owners—remain compelling. 

Operation Epic Fury – the military undertaking in Iran – and the prior major geopolitical conflicts we have lived through are never comfortable.