US Growth Stocks: Semiconductor Surge Redraws the Risk Map

Published on September 2, 2026

Highly concentrated US equity markets have been a consistent theme in recent years. Now, after the latest reconstitution of a major US equity benchmark, concentration is taking on a new form, with the Magnificent Seven’s grip loosening and semiconductor stocks gaining more influence. In essence, millions of passive investors received a new portfolio without making a single decision.

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Brightline Lands $350 Million Assured Loan in Case of Bankruptcy

September 2, 2026
Brightline has reached a deal with municipal-bond insurer Assured Guaranty Ltd. that would provide the debt-laden Florida railroad with at least $350 million in new loans if it heads into Chapter 11 bankruptcy, according to people familiar with the matter.

Warsh Gets an A: Re-focused Fed on the Right Key Principles

September 2, 2026
Kevin Warsh’s Jackson Hole speech was notably hawkish. But I came away from the speech even more confident in Warsh and thought it was one of the best speeches I’ve heard from a Federal Reserve chair. Most importantly, Warsh is refocusing on factors missing from the Fed’s framework for years: an explicit recognition that money supply and bank credit matter for the Fed’s inflation outlook.