Houses Are No Longer the Best Place for Your Money

Published on July 15, 2026

The median house price in Nantucket, Massachusetts, is nearly $4 million. It was just $500,000 in 1995. This sounds like a stunning increase in one of the hottest and least accessible real estate markets in the country.

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Mountain, Cliff, or Ocean

July 15, 2026
The current level of stock market valuations remains – easily – the most speculative extreme in U.S. financial history, beyond both the 1929 and 2000 extremes. Our baseline estimate is that the S&P 500 has a material risk of losing something on the order of 75% over the completion of this cycle.

AI’s Next Big Mission Is Rewiring Your Workplace

July 15, 2026
Artificial intelligence is reshaping every business, including ours. But the hardest challenge is not adopting it. It is rewiring your company around it. How corporate leaders respond to that test will determine whether AI shrinks their ambition or raises it.