INSIGHTS

Tuesday (June 23, 2026) morning in Seoul (South Korea), investors watched the KOSPI 200 do something it had never done before. By the closing bell, South Korea's benchmark index, the country's answer to the S&P 500, had shed nearly 10% in a single session. Worst day in its history. Most American investors clocked the headline and kept scrolling. It needs some attention. Here's why: different countries specialize in different industries, and that gives their markets a kind of

Whenever investors discuss SpaceX, the conversation usually starts in the same place: valuation. Is it worth $2 trillion? $3 trillion? Is it overhyped? Has all the upside already been priced in? Those are reasonable questions. But they may not be the most interesting ones. The more interesting question may be whether we are thinking about SpaceX the right way. Most comparisons focus on other large companies. Some compare it to Nvidia. Others compare it to railroads, telecommu

Concentration risk rarely begins with a bad decision. It usually begins with a very good one. A stock doubles, then doubles again, and what started as a modest allocation quietly becomes the dominant force in a portfolio. This happens in two common ways. Investors have seen it play out vividly in the AI trade of 2025 and 2026. Memory stocks and AI infrastructure names: Micron, AMD, Samsung Electronics, delivered extraordinary returns for those who positioned early. What fel

Every investor wants certainty. Where markets are headed, what interest rates will do next, whether stocks will continue rallying or move into a correction. Investors spend enormous amounts of time searching for forecasts, signals, and predictions that can provide clarity about what comes next. The reality is simple: Not retail investors. Not advisors. Not institutional money managers. Even the most experienced investors operate with incomplete information and uncertainty. Ma