Jeff Sommer

Near the midpoint of the year, stocks and bonds both report good returns. But the global stock market has become highly concentrated, our columnist says.

Investor enthusiasm culminated in some of the worst cases of wealth destruction in the last 100 years, a long-running study shows.

What’s most surprising is that Tesla and SpaceX have entered that elite group. A vast majority of companies weren’t worth owning, a long-running study shows.

The company’s deep commitment to Mars colonization and Elon Musk’s nearly total control make SpaceX stock an astonishingly speculative bet, our columnist says.

Rampant enthusiasm is buoying tech shares to levels that defy gravity. Invest with caution, our columnist says.

Executive compensation is accelerating while rank-and-file workers lag, widening the pay gap in corporate America.

When newly public companies have been valued as richly as SpaceX, OpenAI and Anthropic seem likely to be, the outlook for ordinary investors has been poor.

Interest rates for long-term Treasury bonds have surged to levels last seen in 2007, before the great financial crisis.

Intel, along with Taiwan and South Korea, are the latest winners, our columnist says. True diversification is hard to find.

Stock investors are betting that companies will make enormous profits, despite the war. But investors in bonds, including U.S. Treasuries, have other concerns.

Inflationary surges and economic slowdowns set off by the war in Iran, tariffs and other Trump policies have forced monetary officials to adjust, our columnist says.

The U.S. stock market’s quick rebound this month may be fragile, but riding out the market’s disconcerting waves has been a sound strategy.