The Jenga Tower Economy   The economy right now reminds me of a long game of Jenga. The tower grows taller, and everyone cheers. Then you look closely and notice the bottom shifting just a little each time. That is where we are in 2025.   A Tower That Looks Strong from Far Away  ...Read More

How Investment Advisors Are Structured   Most people don’t think about how financial advisors are actually set up. They shouldn’t need to. But the structure behind an advisor tells you a lot about how they’re paid, who they answer to, and what their incentives look like. It starts with understanding the two big regulatory worlds...Read More

When Everything Costs Too Much      For much of my career, I believed that a recession was the worst economic threat. Job losses. Businesses closing. Families stressed. That’s all real and painful. But lately I’ve come around to thinking the more subtle risk, lack of affordability, is doing more damage right now than a...Read More

Are We In A Bubble?   Why We’re Not in a Bubble Yet  The stock market has been on a wild run. Big Tech keeps setting new records, AI is reshaping industries overnight, and investors everywhere are asking the same question: “Is this another bubble?”   Goldman Sachs tackled that question in a recent report...Read More