What happens when the most disruptive technological force in a generation (AI) turns its sights on the very industry that built it? That's the question confronting software investors today.

On Friday, January 30th, President Trump announced his nomination for the next Chair of the Federal Reserve (Fed) as former Fed Governor Kevin Warsh. If confirmed by the Senate, Warsh will succeed current Chair Jay Powell, whose term expires in May.

The stock market has delivered another strong year in 2025. The major indices tell a positive story. But beneath the surface, the reality is more nuanced.

Overview: Recent high-profile bankruptcies of companies partially financed with private credit have sparked questions about whether these cases signal broader credit concerns. Many are wondering if they are the “canary in the coal mine.” Our view: these are isolated casualties of bad business fundamentals and excessive leverage, combined with inadequate lender due diligence and fraudulent conduct. A toxic cocktail, to be sure, but not a systemic warning sign. In this Diversif