Buy-Side Insights — December 31, 2025

What’s on tap today:

In this week’s newsletter, I focus on three dynamics that all point to increasing equity market sensitivity at the margin. We touched on some of these in our latest PTPM episode: Is OpenAI in trouble?

We’re also running a short reader survey to better understand which topics you, our valued readers, find most useful. If you have a minute, I’d really appreciate your input.

To wrap things up we’re recirculating our December job board.

I hope you and your families are having a happy and healthy holiday season. 

Thanks for reading!

Doug