Insights from Tocqueville - Page 13 of 14
Seeking Value Around the Globe

Seeking Value Around the Globe

by | Jul 31, 2024 | Insights

When I became partner at Tocqueville in 2000, we were at the tail end of the dotcom bubble. The previous five years had been characterized by a surge in technological innovation around the Internet, with U.S. companies leading the way. In equity markets, this resulted...
American Exceptionalism

American Exceptionalism

by | Feb 4, 2025 | Insights, Microblog

In financial markets today, the term “American Exceptionalism” has gained momentum, and rightly so, as shown in the chart below as well as in U.S. equity market returns compared with the rest of the world. Still, it can be argued that valuation for the S&P 500 is...
Making Sense of It All

Making Sense of It All

by | May 9, 2025 | Insights

Let us stipulate at the outset that the single most pressing and dangerous problem facing the U.S. is its gargantuan National Debt and its ability to service it now and in the future.  Failure to solve this issue renders all other concerns trivial including, China,...

United States Asset Management

by | Nov 6, 2025 | Insights, Microblog

Since the beginning of 2025, the U.S. government has taken stakes in five publicly traded companies: U.S. Steel, MP Materials, Lithium Americas, Trilogy Metals, and the once-tech titan, Intel. All “in the interest of national security.” The last time this type of...