2 min read
Michael Miller: Aug 26, 2025 11:32:14 AM
Last week, the SH Cowell Foundation’s Investment Committee met to weigh a stark choice: Should they continue as a perpetual foundation, or spend down their assets over the next ten to twelve years in the face of deepening threats to justice and...
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3 min read
Michael Miller: Jun 9, 2025 12:00:00 PM
When leadership narrows and a few dominant names drive the gains, it's rarely a sign of strength. Rallies built on concentration often reflect habit,...
2 min read
Michael Miller: Jun 1, 2025 4:15:00 PM
Or Just Drowned Out by a Better Story?
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Michael Miller: Mar 6, 2025 12:30:00 AM
I've spent a fair share of my entire career guiding mission-driven non-profits on aligning their investments with their core values, ensuring that...
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Michael Miller: Dec 6, 2024 8:45:00 AM
Certainty has a way of seducing investors, particularly when the market narrative appears to align so neatly with past successes. Today, the US...
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Michael Miller: Nov 17, 2024 9:45:00 PM
With markets in flux and large price movements making headlines, it’s natural to feel some trepidation about what lies ahead. Yet, as we often remind...
3 min read
Michael Miller: Mar 21, 2024 1:18:47 PM
Generally speaking, only time and the relative calm between major crises allow us to gain a reasonable sense of the truth. Currently, in assessing...
3 min read
Michael Miller: Mar 21, 2024 11:47:19 AM
The shift in market conditions underway is not surprising—cyclicality, valuation, and the dangers of popularity and overconfidence are...
