Daily Brief
The long bond repriced everywhere at once | May 25
30-year yields hit multi-decade highs from Tokyo to London on an oil shock. Brussels cuts growth, Jakarta hikes, and AI's power bill keeps rising. One chart, one take.
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Long-Horizon Capital
The governance and behaviour required to actually invest for decades.
Latest in Long-Horizon Capital
The Saturday Edit
You already own the AI power bill | May 23
The binding constraint on AI is electricity, not chips — and a universal owner sits on every side of it. One long read, one chart.
Daily Brief
Private credit's record default — and who votes your shares now | May 22
Fitch puts US private-credit defaults at a record 6%, with most stress hidden in PIK. The Big Three split their stewardship. The Fed reshuffles its fears. One chart, one take.
Long-Horizon Capital
The Two-Hundred-Year Portfolio
The institutions with liabilities measured in decades — and mandates measured in generations — are the natural underwriters of the off-Earth economy. This is what that means, soberly assessed.
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