Riding the Wave…and Minding the Undertow

Published on September 16, 2026

Last December we published Riding the Wave: The Anatomy of Booms & Bubbles. In it, we argued that the AI spending boom would continue through 2026 without tipping into ‘bubble’ mania, and that the right posture was to stay overweight stocks while favoring US assets. Nine months on, we think that call has aged well.

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Leveraged ETFs: From Megacaps to Micro Trends

September 16, 2026
Single-stock leveraged ETFs were unusual when they first arrived in the U.S. market just four years ago. Today, it might be hard to find a stock without one. Issuers are aggressively pushing beyond megacap tech into niche equities, pre-IPO registrations, and even experimenting with leverage levels and frequency.

Morgan Stanley Lines Up $1.3 Billion for Growth Equity Fund

September 16, 2026
Morgan Stanley’s investment manager secured $1.3 billion in capital commitments for a growth equity fund that’s already invested in startups including Databricks, Anduril Industries Inc. and Ramp.