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In his 2011 book Debt: The First 500 Years, anthropologist David Graeber lays out the historical concept of debt, starting with the Sumer, the earliest known civilization, located in historical Mesopotamia around 3500 BCE.

Nearly five years ago, bond yields dropped to levels never seen in the thousands of years humans have been lending to one another. The shortest maturity fixed-income securities yielded virtually zero in the U.S. and less than zero in Europe and Japan.

The 27th Sony Open, Hawaii’s only annual professional sporting event, concluded last week at Waialae Country Club, and what an incredible event it was!

2024 was another good year for stocks overall thanks to continued strength in just a handful of the largest technology and internet companies. The famed “Magnificent Seven” once again comprised the bulk of stocks’ overall returns.

Kawika Shoji and Neil Rose discuss the potential market reactions to a Trump or Harris win on election day.

Major Info Tech earnings announcements this week. Kawika Shoji gets some reactions and thoughts from Neil Rose on the tech sector now and going forward.

Returns this year have been kinder than I would have expected given our rather conservative positioning. Stock allocations have been lower than usual, with little in information technology and internet-related stocks, two areas that have accounted for the lion’s share of the stock market’s returns in recent years.

This week the Federal Reserve cut its short-term interest rate policy by half a percent to 4.75%-5.00%, marking an end to a two-year effort to recoup some of the excesses in Covid stimulus.

Although some Olympians do work multiple jobs to fund their athletic pursuits, most are singularly dedicated to their sport with a steadfast commitment to personal improvement.

The Games of the XXXIII Olympiad have officially come to an end. Paris 2024 gave us two weeks of riveting competition, inspiring stories, and a much needed, uplifting two week pause from divisive political landscapes and negative news cycles.

Neil Rose, Kawika Shoji, and Arthur Mallet discuss the insurance industry and how Neil chooses what horses to bet on.

Neil Rose and Kawika Shoji share some thoughts on the current market environment. They touch on the election, other macro considerations, and extended trends in stock leadership.