What is happening in artificial intelligence today is remarkable. In the Bay Area especially, we are living through one of the most consequential technology shifts of our lifetimes.

Capital Market Assumptions (CMAs) represent the ongoing evolution of our 10 year forward looking market forecasts, which serve as the cornerstone of our Strategic Asset Allocation (SAA) framework ...

Looking ahead, our focus is not on predicting the next swing in sentiment, but on preparing portfolios to withstand a wide range of outcomes. AI is one of the defining investment themes of this era—worthy of attention for its opportunities but equally deserving of respect for its risks. Our role is to help clients participate thoughtfully, with active monitoring, disciplined allocation, and diversification that guard against overconcentration.