Insights

We can jump to the punch line here: it’s difficult to imagine how those growth rates could be achieved—particularly in the U.S. The implication is that investors should be braced for lower broad-based equity returns and be more focused on asset class and manager-specific return profiles.

We can jump to the punch line here: it’s difficult to imagine how those growth rates could be achieved—particularly in the U.S. The implication is that investors should be braced for lower broad-based equity returns and be more focused on asset class and manager-specific return profiles.

As you are likely aware, we’re not convinced that artificial intelligence (AI) is going to replace the majority of jobs any time soon.  It is a transformational space, but one that is currently subject to a lot of hyperbole. There are exceptions though, and you can see it in the data around GitHub—a coding platform used by millions of developers—and the price action in software stocks. 
Regardless, we want to take this opportunity to wish you all a wonderful holiday season. Sincerely hoping the coming weeks are filled with quality time with family and friends as we head into the New Year. The team at Gallant MacDonald appreciates all the support over an incredible year in 2025!