PM Capital, an investment management company, released its Q2 2026 investor letter for its “Global Opportunities Fund.” The letter can be downloaded here. Three themes shaped markets in the June quarter: inflation, artificial intelligence (AI), and government policy. Persistent inflation shifted sentiment, as investors increasingly recognized central banks’ difficulty in meeting targets. The AI infrastructure boom lifted growth expectations and investment, echoing the late-1990s TMT...
Visa’s (V) Asset-Light Cash Flow Supports Upside Re-Rating
