AI’s rapid evolution is producing substantial productivity gains, and we fully expect gains to continue.  The expectation for exponential growth into perpetuity is driving volatility across the broader market, but, more importantly, we are seeing the early stages of a rotation into HALO asset classes (Heavy Assets, Low Obsolescence, introduced by Josh Brown on CNBC).  […]

There’s little question that artificial intelligence (AI) has created more wealth in the past five years than any other industry.  The poster child for this secular growth trend is Nvidia (NASDAQ: NVDA), which has grown its revenues by over 5x in the 5 years ending December 2024, driving its share price up by a factor […]