Published on 2026-10-25

Holdings Letter: Rate Hikes Loom, AI's Money Gets More Expensive

Core inflation came in hotter than expected, a December rate hike looks likely, and AI financing keeps getting more expensive, while the diesel shortage is still propping up energy. This week I followed the trend and swapped out one holding.

A young monk stands under a large tree, looking up and reaching out to catch falling yellow leaves, beside the words "When the trend turns, turn with it."

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