The House View
by Shane Hixon
Markets · Investing · Portfolio Construction · Capital Allocation
Technology · Artificial Intelligence · Alternative Investments · Research
Independent thinking. Institutional discipline. A differentiated view of markets.
A new issue every Friday
Issue 08Energy8 min read
Oil Is Still in Charge
Washington wants lower inflation, cheaper energy, and continued pressure on Russia. The oil market is demonstrating how difficult it is to have all three.
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Meta Doesn't Need the Best Model
The AI race is moving beyond model benchmarks. Meta already owns the distribution, cash generation and consumer surfaces that become more valuable if intelligence gets cheaper.
9 min read
The AI Boom Meets a 5% World
Artificial intelligence promises cheaper output. Building the infrastructure to deliver it is becoming more expensive to finance.
4 min read
The Fed Raised Rates. The Market Looked Past Them.
Stocks fell on the decision, then rallied as bond yields and oil eased. Investors were pricing what comes next.
3 min read
Europe Is Digging Faster Than It Can Climb
Europe has spent decades deciding how the economic pie should be divided while paying too little attention to whether the pie is still growing.
7 min read
Why You're Behind on AI, and Probably Won't Catch Up
The frontier is moving faster than institutions can absorb it. The advantage now belongs to people who build the shortest learning loop.
8 min read
The $30 Trillion AI Story Just Met the Earnings Ledger
Anthropic supplied the pitch. Salesforce and Nvidia supplied the evidence.
4 min read
More Money Than God Meets $40 Trillion
Scott Bessent must convince markets the world's largest borrower still deserves the world's lowest risk premium. The pace of borrowing says otherwise.
4 min read