+ Ben Horowitz, Rick Rieder, Morningstar, KKR, Capital Group, Meketa & More
Sponsored by | | "If it looks like a duck and quacks like a duck, it probably isn't a chicken, right?" | | | | — Paul Tudor Jones |
|
|
|
| Research | | PIMCO's Cyclical Outlook highlights how tariffs, AI investment, and policy uncertainty are redefining global growth in late 2025. The firm expects slower trade and modest disinflation but sees attractive opportunities in high-quality bonds as central banks begin easing into 2026. | | | Morningstar explores how the rise of private markets is reshaping public market dynamics and investor behavior, noting that companies staying private longer have reduced the investable public universe by 40% since 2000. |  | 2 |
| | KKR's Macro State of Play outlines a cautiously optimistic outlook for 2026, emphasizing resilience in U.S. growth, sticky services inflation, and the early stages of a global easing cycle. The report argues that diversification across credit, infrastructure, and Asia remains critical as valuations in U.S. equities stay stretched and real yields remain historically high. | | | Goldman Sachs argues the Dollar's global dominance isn't ending soon, but the currency looks overvalued. Slower U.S. growth, narrowing rate gaps, and stronger European and Chinese fundamentals suggest gradual Dollar depreciation, even as true de-dollarization remains limited. | | | DKCM examines how record valuation dispersion across real estate sectors is creating a rare window for active investors. Structural shifts like higher interest rates, remote work, and cap-rate repricing have fractured correlations, allowing selective strategies in logistics, data centers, and multifamily housing to outperform as the market resets. | | | Meketa analyzes the role of long-term U.S. Treasuries in institutional portfolios, highlighting their value as a diversification tool and deflation hedge. While long bonds remain a potent risk mitigator, their expected real returns are low, and managing duration exposure is critical in a higher-rate regime. | | | Bonus Content | Goldman Sachs published the 2025 Retirement Survey & Insights Report. Link | Rick Rieder walks through 10 important market topics and how they impact positioning for today's market. Link | Capital Group shared five charts that highlight the recovery of international stocks and factors that could help sustain a long-term rebound. Link | Apollo published an outlook for Japan and an outlook for private markets. | J.P. Morgan's Guide to the Markets is updated through September 30, 2025. Link | Elite universities are again stuck with illiquid assets just when they badly need cash. Link | Is buying at all time highs a good idea? Nope. It's a great idea. Link | | | | | VC Fund Performance | Carta's Q2 2025 VC Fund Performance Report reveals that key metrics are on the rise. The value of the average fund (TVPI) and the rate at which they've begun to return cash to LPs (DPI) both climbed for every vintage from 2017 to 2023. Read the report now to see how your fund compares. Analyze the data. | |
| |
| | |
| Podcasts | | | | |  | 9/22/2025 - 71 minutes |
|
| | Herb Wagner shares his approach to opportunistic value investing, portfolio construction, and lessons from building FinePoint Capital. | Apple | Spotify | YouTube |
|
|
| |
| | |
| | | | |  | 9/11/2025 - 98 minutes |
|
| | Ben Horowitz reflects on leadership challenges, company culture, and the hard truths behind building and scaling successful businesses. | Apple | Spotify | YouTube |
|
|
| |
| | |
| | | | |  | 10/7/2025 - 50 minutes |
|
| | Tobias Carlisle walks through the commonalities between Warren Buffett and Sun Zhu. | | Apple | Spotify | YouTube |
|
|
| |
| | |
| | What Else Is Happening | |
|
| | | | Copyright © 2025 The Idea Farm, L.P. All Rights Reserved. | The information contained in this communication is of a general nature for informational purposes only, and does not constitute financial, investment, tax or legal advice. The information contained within this communication reflects the opinions of those referenced herein, and do not reflect the opinions of The Idea Farm, L.P. and its affiliates. Such opinions expressed herein are as of the date of production and are subject to change at any time without notice due to various factors, including changing market conditions or tax laws. Where data is presented that is prepared by third parties, such information will be cited, and these sources have been deemed to be reliable. Any links to third party websites are offered only for use at your own discretion. The Idea Farm L.P., and its affiliates, are separate and unaffiliated from any third parties listed herein and is not responsible for their products, services, policies or the content of their website. All investments are subject to varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy or product referenced directly or indirectly in this communication will be profitable, perform equally to any corresponding indicated historical performance level(s), or be suitable for your portfolio. Past performance is not an indicator of future results. | Update your email preferences or unsubscribe here © 2025 The Idea Farm 3300 Highland Avenue
Manhattan Beach, California 90266, United States of America | | Terms of Service |
|
|
|
|
|
