April is underway, and this month’s edition brings together market perspective and timely insights on artificial intelligence. In our latest market update, founder Joe Barry shares his views on recent developments and portfolio positioning.

We also explore AI from two angles, what the recording industry’s collapse can teach us and why software companies may be more resilient than many expect, along with a few updates from the team in Beyond the Desk.

If you have inquiries about the investment markets or your tailored wealth management strategy, please don’t hesitate to reach out to us!

Best Regards,

The Barry Team

ON OUR MINDS THIS MONTH

Artificial intelligence has quickly become the most powerful narrative in global markets. But what if the technology is real, while the valuations surrounding it are not?

The Digidesign Digi 001, released in 1999, allowed musicians to record high-quality music at home using a personal computer for roughly $800. The result was dramatic. Over the next decade and a half, the traditional recording industry collapsed . Today, many observers believe artificial intelligence may be entering a similar phase.

Software stocks have declined sharply as investors price in the idea that AI coding tools will make enterprise software obsolete. However, a closer examination reveals that replacing mission critical systems is far more difficult than generating code snippets.

THIS MONTH'S MARKET LENS

This chart shows that central banks now hold a larger share of their reserves in gold than in U.S. Treasuries for the first time in over 30 years. Despite gold’s recent sell-off, the long-term thesis remains intact, as gold still serves as a portfolio diversifier against many of the key risks investors face today, including inflation, fiscal strain, currency debasement, and geopolitical stress

FINANCIAL PLANNING SPOTLIGHT

Our financial planning process is built around a comprehensive framework designed to bring clarity and coordination to every aspect of your financial life. From retirement planning and investment strategy to tax efficiency and risk management, each area plays an important role in supporting your long term goals. We focus on how these pieces work together, helping ensure that decisions in one area complement the others. By taking a holistic approach, we aim to create a plan that is both resilient and adaptable as your needs evolve over time.

WISDOM WORTH REPEATING

"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!"

-Jesse Livermore

BEYOND THE DESK

The BIA team went bowling for a great cause! My Brother's Keeper delivers furniture and food to families in need 

COMMENTS, COMPLIMENTS, & CRITIQUES

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