They Taxed Paper. We Tax Silicon.
The Medium Changes, the Instinct for Control Doesn’t. By Gregory Lai, Co-Chief Investment Officer In recent weeks, I sat through a few town halls where financial leaders and academics shared their views. At one UC Irvine event, what stood out wasn’t a forecast—but a prop: an original eight-page copy of the Townshend Acts from June […]
When Will Clues to Tariff Impact Show Up in the Data?
📦 When Will Clues to Tariff Impact Show Up in the Data? 🧠 “Tariffs have a way of creeping into the numbers with a lag, and we haven’t seen policy like this in almost 100 years.”— Ernie Tedeschi, Director of Economics, Yale Budget Lab 📉 Markets React Fast—But Data Lags BehindInvestor sentiment can shift in a flash—but economic […]
From McKinley to MAGA: Tariffs, Markets & Investor Risk
From McKinley to MAGA: What Tariff Politics Teaches Us About Market Narrative Risk Volatility is back—and so are tariffs. In recent weeks, markets have surged, dropped, and surged again in response to breaking news about trade tensions, especially between the U.S. and China. If it feels like we’ve seen this movie before, we have. […]
Tariff D-Day: April 2 Is Almost Here
Tariff Sequel: April 2nd’s D-Day – Will the “Dirty-15” Have a Hollywood Ending? Ten days. Ten days until the economic equivalent of a high-wire act without a net. April 2nd looms, the date the White House has set for its “Reciprocal Trade & Tariffs,” a policy designed, we are told, to open markets, shrink deficits, […]
Tariffs & Trade: Will They Really Make a Difference in 2025?
Since the beginning of the year, markets have corrected from all-time highs, and many in the media attribute this to the uncertainty surrounding the Trump administration’s tariff discussions. However, it’s important to remember that market corrections of around 10% occur almost every year. Given historical market volatility, the average annual correction typically falls between 7-10%, […]
Last Week’s Markets Weather Tariff Turmoil
Last Week’s Markets Weather Turmoil Last Week’s Last Saturday, the President confirmed that he would subject Mexican and Canadian goods to the full 25% tariff – and Chinese imports to 10%. However, Canadian energy, including oil, natural gas, and electricity, will be taxed at a 10% rate. The levies will take effect on Tuesday. What […]