Jacob Funds, a mutual fund company, released its fourth-quarter 2025 investor letter. After an optimistic quarter, equity markets corrected slightly in November. Although overall economic growth has been robust throughout the year, recent divergent data on consumer spending and the labor market have put doubt on future projections. This pattern has become somewhat familiar over the past few years, as conflicting economic data has become the norm. As for the Fund’s strategy, the recent moderation in AI tech companies seems beneficial, and the firm believes the new productivity cycle will...
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