“A tree is known by its fruit; a man by his deeds. A good deed is never lost; he who sows courtesy reaps friendship, and he who plants kindness gathers love.”― Saint Basil AI Investment: Boom, Bubble, or Breakthrough? We’ve seen this movie before. Railroads, electrification, the internet—each sparked massive capital cycles long before the payoff was clear. Today’s AI buildout is following that script, with hyperscalers pouring $217 billion in 2024—and an estimated $320 billio

My view is that buying and holding real estate is not an effective investment strategy in our current economic environment, for a few reasons.1) Real estate is more interest rate sensitive than it is inflation sensitive, so given our current circumstances it is likely to go down in real terms2) It is a fixed asset that is easy to tax, which limits its impacts on your ability to diversify3) Real estate is nailed down, so investing in it makes it more difficult to move money fr

“If we are intended for great ends, we are called to great hazards.” - St. John Henry Newman, Doctor of the Church Where are we heading? I like attempting to read the tea leaves and try to skate where the puck is heading. As best as I can tell, here are the facts on the ground (as of August 10, 2025): Stretched market valuations. The S&P 500 forward 12-month P/E is ~22.1, above the 5-yr (19.9) and 10-yr (18.5) averages. Shiller CAPE sits around ~38, well above its long-run me