Advisors
Client Memo: Sometimes It’s What You Don’t Own That Matters investment strategy long-term investing portfolio management risk management wealth management Feb 10, 2026

Not long ago, a client emailed me asking if we had any exposure to business development companies (BDCs) in his portfolio. He was asking because he clearly noticed media headlines about steep declines in software stocks and BDCs.  The catalyst was the theory that AI is going to displace the need for...

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