The idea of the U.S. government taking direct ownership stakes in private companies felt largely anathema to the nation's capitalist ideals. Yet, the current administration is increasingly embracing a more active role in the private sector. This isn't about regulation or tax incentives; it's about direct investment and influence, echoing—but diverging from—past interventions.
Benjamin D. Connard

Recent Posts
The U.S. Government's Growing Role in the Private Sector
Topics: Economy
Stablecoin: What It Is, Why It Matters, and Where It's Headed
Stablecoins have been around for a little while now, but they’re back in the spotlight thanks to some new legislation—the GENIUS Act. With all the buzz, it’s worth unpacking what stablecoins are, why they’re gaining traction globally, and whether they really matter for the average U.S. consumer.
Let’s start from the top.
Topics: Investing
Stock Fundamentals: Return on Invested Capital
In general, earnings growth drives stock prices higher. If investors are willing to pay 20 times earnings for a company, and company earnings grow from $5 per share to $6 per share, the stock price will increase from $100 to $120.
Topics: Investing
“Uncertainty” is the new buzzword. The term has been used repeatedly during earnings calls throughout the past month as company executives described the current state of the operating environment. This uncertainty is driven by the Trump Administration’s fluctuating tariff policy.
Topics: Market
Volatility vs Long-Term Trends
Volatility in the market has spiked during the last month, coinciding with the Trump Administration’s tariff rollout. The rollout has been accompanied by shifting levels in the tariff, uncertainty when and where they will be implemented, and an escalating trade war with China. Equities have reacted negatively leading to headlines indicating how far the indexes have fallen off the peak.
The resulting chart can be a little unsettling.
Topics: Investing