Higher rates are testing the most rate-sensitive parts of the economy, but they are also restoring income and creating sharper distinctions between risks worth taking and risks best avoided.

The latest round of student protests in France began with a relatively straightforward demand: better funding for schools. But like many things that start small and focused, the demonstrations quickly evolved into something much bigger. What began as concerns about poor school conditions have expanded into broader frustration over the rising cost of living and the financial pressures facing households across the country.

Election noise can distort market signals. Jim Lydotes looks beyond the headlines at consumers, AI infrastructure, and defense demand.

Highlights from the week of October 9 – October 15, 2026.

Last week, investors took a closer look at the AI spending boom and decided they needed better answers than “trust me, it’ll pay off.” Was it Jane Wickline’s wicked turn as Anthropic’s Dario Amodei on SNL Weekend Update? (“I urge you to urge me to stop.”) Who can say. What we do know is that investors spent the next week questioning the gap between AI’s long-term promise and its near-term price tag.

The recent selloff has brought back the key question: Can revenue grow fast enough to support all this spending?

​​Recent liquidity events related to portfolio companies in which PIF invests through its private equity holdings​.

To evaluate is human; to document the process, divine.

Success in small caps increasingly depends on position sizing, as concentrated winners amplify the cost of underexposure.

Last week, America eased into October as Wall Street eased into earnings season. Both tend to start on an optimistic note; what happens after that depends on whether reality decides to cooperate.