Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from manager struggles to large cap earnings, AI impacts to economic growth, and money flows to cash and bonds. Hope you have a great weekend!
Dave: It’s been a tough year for stock-pickers relative to the market cap-weighted S&P 500
John Luke: giving investors another reason to move to index funds
Data as of 12.12.2025
Brad: with an inkling of change over the past 6 weeks but not enough to dent tech leadership
Source: Citadel as of 12.17.2025
Joseph: If earnings expectations hold, it will be tough to bring the tech juggernaut down
Source: Strategas as of 12.14.2025
John Luke: or the S&P 500 as a whole, for that matter
Data as of 12.15.2025
Jake: The toughest battle facing the Artificial Intelligence (AI) story has been Oracle’s move to using debt to finance projects, vs. cash flow like the other hyperscalers
Data as of 12.12.2025
Joseph: but the overall jump in electricity use will likely continue to track into strong economic growth
Data as of September 2025
John Luke: The U.S. manufacturing renaissance continues
Graphic via Brookfield December 2025
Dave: and while administrations can’t dictate market outcomes, they’re really good at juicing the economy
Source: Strategas as of 12.17.2025
John Luke: This rate-cutting cycle has had a much different impact on longer-term bonds than in recent cycles
Data as of 12.15.2025
Beckham: partly due to the endless need to finance government spending
Source: BlackRock as of 12.15.2025
Ten: Thankfully, US consumers as a whole are as prosperous as corporations and seemingly need little debt
Source: Citadel as of 12.12.2025
Brad: but oddly, are letting much of household wealth build in the form of cash
Cash as a % of Household Wealth
Source: Citadel as of 12.12.2025
Brett: Options have become an increasingly valuable tool for building portfolios
Graphic via Meketa March 2024
Brad: with a demonstrated ability to improve outcomes
Data as of 12.12.2025
Brian: US stocks have grown to dominate global indexes, with good reason
Data as of 12.12.2025
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Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.
Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.
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