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Op-Ed
Aug 10 - 20264 min read2 Chokepoints, 1 Playbook
Six months into the Iran conflict, Hormuz traffic has stalled. Iran's maximalist demands make resolution unlikely — echoing the 1956 Suez Crisis playbook: provocation, asymmetric resistance, political fallout....
Market Ethos
Aug 10 - 20266 min readThe Anti-Robin Hood
SpaceX's record-breaking IPO is turning into a case study in systematic flows. It's a reminder that in today's markets, index rules can move nearly as much capital as fundamentals do....
Market Ethos
Aug 04 - 20269 min readSometimes Good Isn’t Good Enough
Earnings have been strong across the board this quarter, but the market is only rewarding the parts of it that aren't tied to AI. Even as gold is quietly turning a corner....
Portfolios With a Purpose
Jul 30 - 20267 min readInner Workings of Active Passive
The active-versus-passive debate hasn't changed much in the last few years, but shifts in concentration, fees, and advisor behavior mean it's worth a closer look at what's happening underneath....
Market Ethos
Jul 27 - 20268 min readHow Much AI Do I Own?
In 2022, investors asked about bonds. In 2025, it was gold. In 2026, the question is "how much AI exposure do I have?" And the answer can change wildly depending on where you're invested....
Jul 24 - 202615 min read
Rethinking Fixed Income for Today's Post-QE Market
This paper argues that many of the assumptions embedded in traditional benchmark-oriented bond portfolios were products of a unique market regime that has fundamentally changed....
Op-Ed
Jul 23 - 20267 min readIn TTF (European Gas) We Trust
Despite the majority of commentary around the Middle East conflict revolving around oil price, one area that we continue to like that is an outsized beneficiary of the current conflict is European gas....
Market Ethos
Jul 20 - 20265 min readThe Eh-OK Consumer
The global economy is in good shape thanks to tech spending, fiscal stimulus, a manufacturing upturn and a spendy consumer. Let's check in on the Canadian consumer....
Market Ethos
Jul 13 - 20266 min readDividend Divergence
For years, Canadian dividend strategies moved together. Since 2021, that single channel has split into many. ...
Market Ethos
Jul 06 - 202611 min read