JAG Growth Equity Thematic Insights: Q4 2025
December 2025 Investing in Transformation That Matters Need For Speed: Silicon Edition The AI landscape continues to evolve rapidly, with recent headlines highlighting a growing competitive threat to Nvidia (NVDA) as Google (GOOGL) is reportedly considering external sales of its custom AI accelerator chip, the tensor processing unit (TPU). This note will outline why Nvidia […]
JAG Fixed Income Thematic Insights: Q4 2025
December 2025 – Spread Thin? Why Credit Still Deserves a Place in Portfolios Summary In last quarter’s Insight, we examined the relationship between yield levels and forward return outcomes, illustrating how higher absolute yields improve the odds of favorable results over time. This quarter, we turn to a related but more nuanced factor: credit spreads. […]
3rd Quarter 2025: Markets, Machines, and Megawatts
Markets, Machines, and Megawatts Markets entered the third quarter with strong momentum from the spring rebound and never looked back. The S&P 500 climbed steadily through July and August, then surged to a new all-time high in September on optimism about cooling inflation and a friendlier Fed stance. Tech stocks led the charge yet again: […]
JAG Growth Equity Thematic Insights: Q3 2025
September 2025 Investing in Transformation That Matters Staying Disciplined Amidst a Boom As we move through the end of the third quarter of 2025, the fierce arms race in Artificial Intelligence (AI) is continuing to gain steam. Investors are pouring capital into AI-focused companies at a frenetic pace, chasing the promise of revolutionary breakthroughs. Read […]
JAG Fixed Income Thematic Insights: Q3 2025
September 2025 – Beyond the Yield: A Risk-Based Case for Bonds Summary JAG has maintained a constructive bond market outlook for several years, enduring bouts of volatility, tight credit spreads, and a prolonged yield curve inversion. Despite evolving risks, we consistently reach the same conclusion: absolute yields remain attractive. While this view may sound simplistic, […]
2nd Quarter 2025: From Shock to Strength
From Shock to Strength Last quarter was nothing if not exciting. April opened with what market historians may someday call the Tariff Tantrum of 2025. On April 2, President Trump announced sweeping “reciprocal” duties that – at first blush – appeared large enough to upend global supply chains. Markets recoiled from this shocking announcement, knocking […]
JAG Growth Equity Thematic Insights: Q2 2025
June 2025 Investing in Transformation That Matters Beyond the Headlines, the AI Revolution Continues Although tariff policy, government spending, and politics have dominated the news coverage in recent weeks, we are closely monitoring longer-term catalysts for innovation and disruption including Artificial Intelligence (AI). Read more
JAG Fixed Income Thematic Insights: Q2 2025
June 2025 – Treasury Market Primer: Back to Textbook Basics? Summary As we enter the final weeks of Q2 – and at the risk of speaking too soon – several key markets may finish the quarter essentially unchanged from Q1. This seeming calm, however, obscures the roller-coaster of volatility investors endured in the first two […]
2nd Quarter 2024: The Concentration Conundrum
The Concentration Conundrum Enthusiasm for Artificial Intelligence (AI) once again powered the broad market higher last quarter, as the S&P 500 generated solid gains. By market capitalization, large caps outperformed small caps in Q2, as they did in the first quarter of 2024. On a sector level, performance was decidedly mixed. Five of the 11 […]
TWST’s Interview with JAG CEO/CIO Norm Conley “Magnificent Seven Could Continue to Dominate for a Long Time”
December 14, 2023 — Learn about JAG’s history, investment philosophy, stock selection process, favorite investments, 2023 performance, and our 2024 Outlook… TWST: For the benefit of readers, give us an introduction to JAG Capital Management. Mr. Conley: The roots of our firm go back all the way to 1945. We’ve been known as JAG Capital […]