October 22, 2026
By Peter Bower
The Lonely Bull wrote in a recent blog that good earnings may be important to turning investor sentiment more positive. However, positive responses may be delayed until after the midterm election, or at least muted. After all, investors might want to see what policy changes companies may need to adapt to. It is doubtful that any realistic realignment of power in Washington, D.C. will result in substantive change. After all, the executive branch of government is not up for election until 2028. Major changes could be easily blocked.
As much as anything, the midterms give an excuse to pause and let more evidence accumulate as to the strength of underlying trends and what shifts may be taking place. Until recently, AI has been all the rage. Then, doubts emerged as to how sustainable the spending and adoption were likely to be. Marking a little time on these assessments may be a good thing. So far, demand and the rapacious buildout of AI seems on track.
Inevitably, Artificial and Super Intelligence will change much in our world. There will be both winners and losers in this process. It is our job to steer capital through this massive change and benefit from it. We relish the opportunity. Our experience managing through previous technological revolutions will be invaluable. In the meantime, stay steady my friends.
The Lonely Bull
