📈   Chart of the Week 11/30/2025 By Michael Allison, CFA Whither Bitcoin? This week’s Chart shows the price of Bitcoin, which has been quite weak of late. We often get questions from advisors about crypto and their appropriate role in client portfolios. A lot of the discussion tends to be framed as a risk and return question. While Bitcoin and other cryptocurrencies are indeed quite volatile, this recent move seems, at least to me, to be a bit more than just “risk off” . As I thought more...

📈   Chart of the Week 11/23/2025 By Michael Allison, CFA You Are Here 🎯 This week’s Chart shows the Nasdaq 100 Index plotted against a number of historical bubbles. When investment bubbles are discussed, it’s common for folks to ask, “Where are we in the cycle?” I find historical comparisons interesting, but not necessarily helpful. I think that the end of an investment cycle approaches as financial stress begins to show in the results of the players in the ecosystem, and the accounting...

📈   Chart of the Week 11/16/2025 By Michael Allison, CFA The Next Productivity Boom Is Upon Us We’re seeing quite a lot of hand-wringing lately by investors concerned about equity valuations and the pace and sustainability of capital spending by the AI Hyperscalers. However, this week’s Chart highlights the silver lining of the AI spending boom which will likely benefit the economy more broadly over the coming years, perhaps by quite a lot. I thought it was worth talking about....