True story . . . Four years ago, a 17-year-old was street racing at over 100 mph when he struck a car, killing two parents, while their seven-year-old twin girls survived. Last month, a jury handed the family a judgment in the amount of $33 million. Not only did the jury find the teenage driver liable, but his parents as well “because they knew he had sped in the past” according to the San Francisco Chronicle. I doubt this was modeled in their financial plan. It’s a sober

A few years ago, on a bumpy flight home to Nashville, I was struck by the thought: What happens if I don't make it home tonight? What would that mean to my then seven-year-old son? Beyond financial security, what would I most want him to have? It wasn't a bigger inheritance. It was a handful of books. Not “great” books in a literary sense — just the few books that genuinely challenged and changed how I saw the world, other people, and myself. Thankfully, I did make it home th

"You can't print molecules." - Jeff Currie, The Carlyle Group The Jugular Vein Three weeks ago, most of us couldn’t find the Strait of Hormuz on a map. It is now the most important place on the planet. It is the choke point through which a fifth of the world’s oil must flow. Markets appear to be pricing in a quick resolution that may not come. We believe there's a timely way to position for both outcomes. Iran has said, “None shall pass." The Strait is, for practical pu

"This is the industrial revolution.” -- Jensen Huang, Nvidia CEO Every article and talking head is now debating, "Is AI a bubble?" We believe "yes" and "no." This perspective reminds us of our experience investing during the internet bubble 25 years ago. (Yes, we're that old.) In the following video, Steve shares our nuanced view. He explains how we're positioning client portfolios along a path less traveled. This path allows us to profit regardless of which AI model or techn

"In absolutes, we may lose our way… The patterns could guide and they could trap. One had to remember that patterns change."- Frank Herbert Children of Dune The New Power The past century has been about soft power. Those who had brains and influence conquered the old brutes who had the hard power. Software companies became more valuable than energy companies. Yet, the confluence of AI, stablecoins/crypto, EVs, and deglobalization may be reversing that reversal. And that mat

"Nothing, however, can be more absurd than this whole doctrine of the balance of trade... When two places trade with one another, this...

"Knowledge itself is power." - Sir Francis Bacon (1597) "Power itself is knowledge." - Fielder Capital (2025) March Madness Comes Early...

Our Predictions for Election Day We aren’t political analysts, but we do have the conviction to make this one prediction about today’s...

Good Times? Are these good times or bad times? Depends on whom you ask. Wages are up 23% since just before COVID. Yet, this hasn’t kept...

“Indexing can't work well forever if almost everybody turns to it. But it will work all right for a long time.” ― Charlie Munger ( 1998 )...