Insights
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Monthly Macro: Higher for Longer? Inflation, Interest Rates, and the AI Investment Cycle
William Blair macro analyst Richard de Chazal explains why investors may need to adjust to a world of structurally higher inflation, interest rates, and bond yields rather than expect a return to the economic conditions that defined the 2000-2020 period.
-
-
Helping Aging Parents Get the Support They Need
As your parents or other relatives get older, they may need help with everything from managing their daily care to performing tasks such as grocery shopping, paying bills, and getting to appointments. In addition to these everyday activities, they will often need help making significant decisions about their finances and living arrangements.
-
-
-
-
-
-
-
-
-
-
-
-
Economics Weekly: Record Margins, the AI Capex Cycle, and the Warning Signs to Monitor
In this Economics Weekly, Richard de Chazal examines the quality of today’s earnings, assesses where we are in the AI capex cycle, and identifies the signals that would suggest the recovery is becoming more fragile.
-
-
-
-
-
-
-
U.S. Small-Cap Equities—Why Now May Be the Moment to Lean In
The investment landscape for small-cap equities has evolved, with several positive factors—pro-U.S. policies, a less restrictive regulatory backdrop, and sustained demand from AI infrastructure spending—contributing to what we believe is an increasingly favorable environment.
-
-
-
-
-
-
-
-
-
-
-
-
Four Pre-Liquidity Considerations From the One Big Beautiful Bill Act
Last year’s passage of the One Big Beautiful Bill Act (OBBBA) has major implications for business owners and pre-liquidity planning. While the new permanence of gift and estate tax exemptions has drawn more headlines, changes to qualified small business stock (QSBS) rules might be more consequential, especially for founder-owners.
-
Record of Personal Financial and Family Information
Having access to the right information when you need it most is essential to managing your wealth. Our new booklet helps you organize your family’s critical personal and financial information and serves as a consolidated record of your various assets.
-
Retirement and Wealth Transfer: What They Mean For Shareholders
For many investors, the two most important financial goals are to fund a long and successful retirement and to transfer their wealth. With thoughtful planning and strategic management of their portfolios, investors can successfully balance their retirement and wealth-transfer goals.
-
The State of the Consumer: Resilient, Selective, and Still Spending
William Blair's group head of consumer research Sharon Zackfia and consumer analyst Dylan Carden discuss the key findings from their State of the Consumer: The 2026 Edition report, examining why consumer spending has remained resilient despite inflation, higher energy costs, and economic uncertainty.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Economics Weekly: The Great Wealth Transfer Flows to the Few
In this Economics Weekly, Richard de Chazal concludes that the transfer is large but narrow—it stays within families already near the top, deepening the concentration of wealth rather than easing it, with the impact on consumption far more muted than expected.
-
-
On Risk Webinar Replay: AI in Insurance (Infrastructure)
In the latest installment of William Blair’s On Risk webinar series, Adam Klauber, William Blair’s group head of the financial services and technology sector, is joined by Rich Drab, senior consultant in Capgemini’s Insurance Practice, and David Mocklow, head of insurance at Growth Protocol, for a discussion on how insurers are deploying AI across underwriting, claims, customer service, and enterprise decision-making.
-
-
-
-
-
-
Monthly Macro: China's Open-Weight Challenge and the Future of AI Economics
William Blair macro analyst Richard de Chazal and group head of technology, media, and communications Arjun Bhatia examine how low-cost, open-weight AI models, many of them emerging from China, are reshaping competition across the AI ecosystem and challenging assumptions about the future economics of artificial intelligence.
-
-
-
Economics Weekly: Poetry in Numbers
In this Economics Weekly, Richard de Chazal uses poetic license to adapt the interpretation of the poem, The Red Wheelbarrow, to what is taking place today in the financial markets and with the evolution of AI—a shift from the enablers to the adopters, from narrative to the numbers, and from free cash flow spending to returns on that invested capital.
-
Business Owners Forum: Accessing Private Markets
Following a liquidity event, many business owners reevaluate how and where they can invest. Tony Frascotti, William Blair’s head of Private Shares Trading, and Tyler Glover, partner, managing director, Private Wealth Management Consulting Services, host a virtual fireside chat exploring how private markets are evolving and the opportunities they present.
-
-
-
-
-
Monthly Macro: The Work AI Cannot Reach
Spanish economist and former Member of the European Parliament, Luis Garicano, Ph.D., joins William Blair macro analyst Richard de Chazal to discuss why AI is more likely to reshape jobs than replace them outright, arguing that the most valuable work combines cognitive, relational, and physical tasks that remain difficult to automate.
-
-
Economics Weekly: Money Matters Again – Inflation and the Fed’s Evolving Framework
In this Economics Weekly, Richard de Chazal looks at the past remarks of Greg Mankiw, who was appointed (along with William White and Thomas Sargent) to examine the Fed’s inflation framework, to gain insight into the kinds of changes we might expect to see.
-
-
-
Inside the AI Economy: Competition, Compute, and the Next Phase of Enterprise Adoption
William Blair's Arjun Bhatia and Jonathan Ho discuss the latest developments shaping the AI landscape, from intensifying model competition and pricing pressure to data center expansion, cybersecurity risks, and the pace of enterprise adoption.
-
-
-
-
-
-
-
-
-
-
-
-
Monthly Macro: AI Booms, Inflation Bites, Fed Shifts
William Blair macro analyst Richard de Chazal discusses how the Iran conflict, AI-driven investment themes from William Blair’s 46th Growth Stock Conference, persistent inflation pressures, and Kevin Warsh’s early approach as Fed chair are shaping the macro outlook for the second half of 2026.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Macro Highlights From William Blair’s 46th Annual Growth Stock Conference
In this special Economics Weekly, we highlight some macro commentary that stood out to us at the conference regarding the general economy, what’s happening with AI, the capex expansion, the state of the consumer, and inflation, as well as more thematic issues.
-
-
Monthly Macro: Resilient Equities, Rising Yields, and a Shifting Playbook
As geopolitical tensions persist and inflation concerns resurface, equity markets remain resilient while bond markets signal a more cautious outlook. Richard de Chazal unpacks what’s driving this divergence, the durability of the U.S. consumer, and why quality may be coming back into focus.
-
Autonomous Vehicles and the Evolving Auto Insurance Market
In this installment of On Risk: Leading Insurers Discuss Emerging Trends, Adam Klauber, William Blair’s group head of financial services and technology research, sits down with Andrew Robinson, CEO of Skyward Specialty Insurance; Mark Haushill, CFO of Skyward Specialty Insurance; Chris Moore, president of Apollo; and Taryn McHarg, CFO of Apollo, to explore how the autonomous vehicle (AV) ecosystem is reshaping insurance markets.
-
-
-
-
Why the Roofing Industry Is the Next Frontier in Essential Services
Like other parts of essential services—a broad category that covers everything from pool maintenance to landscaping—roofing has captured investors’ attention. The market is not only massive and fragmented but inherently non-discretionary, given the enduring need for functional roofs.
-
-
-
-
-
Economics Weekly: U.S. Consumer Is OK, but This Is Not a Consumer-Driven Expansion
In this Economics Weekly, Richard de Chazal looks at the U.S. consumer, with the view that they are still resilient, even as they face some headwinds. Simply put, this is not a consumer-driven recovery—it’s a capex one.
-
-
-
-
-
Franchise Times Recognizes William Blair’s Restaurant and Franchising Expertise
Congratulations to our client, Freddy’s Frozen Custard & Steakburgers, for being recognized by Franchise Times’ 2026 Dealmakers Awards. This was the publication’s 14th annual Dealmakers event, which highlights excellence in franchising M&A.
-
-
-
Shifting Sites of Care: Why Healthcare Delivery Is Moving Beyond the Hospital
Ryan Daniels, William Blair's group head of healthcare technology and services research, discusses how policy reform, reimbursement changes, technology innovation, and consumer preferences are accelerating a shift in care delivery toward outpatient, virtual, and home‑based settings.
-
-
-
-
-
-
From Code to Clinic: How AI Is (and Isn’t) Rewriting the Life of a Drug
In this episode of William Blair Thinking Presents, Matt Larew, partner and equity research analyst covering life science tools and diagnostics, explains where AI is accelerating early discovery, why wet‑lab validation still matters, and what real progress looks like as adoption moves from hype to practice.
-
-
-
-
Monthly Macro: Strait of Hormuz Shock Meets Sticky Inflation
War-driven energy shocks, sticky inflation, and an unusually split Fed are back at the center of the macro conversation. In this month’s Monthly Macro, William Blair macro analyst Richard de Chazal assesses what those dynamics, and the growing influence of AI, mean for bonds, equities, and portfolio risk.
-
-
-
-
-
-
-
-
-
Business Owners Forum: Rise of Private Capital
Chris Brathwaite, partner, director of pre-liquidity planning, Kirsten Olsen, managing director and head of PWM Private Capital, and Anu Sharma, partner, managing director, and co-head of Venture Capital, host a conversation on how private markets are evolving and what that means for owners navigating today’s capital landscape.
-
-
-
Economics Weekly: Capacity Growth—It’s Different This Time
In this Economics Weekly, Richard de Chazal looks at aggregate investment spending and the expansion in industrial capacity; he also compares the current cycle with the 1990s and discusses what those differences might mean for the Fed—and for a potential new Fed chair counting on a productivity boom to support lower interest rates.
-
-
-
-
-
-
Biotech Breakthroughs: Gene Editing Moves Beyond the Hype
In this episode of Biotech Breakthroughs, Matt Phipps, Ph.D., group head of biotech research, and William Blair biotech analyst Myles Minter, Ph.D., discuss lessons from the first approved ex‑vivo product and highlight key 2026 catalysts across CRISPR, base editing, RNA editing, and DNA writing.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Asset Allocation: Your Biggest Investment Decision
Building a portfolio involves countless decisions. But none is more important than how you allocate your wealth across asset classes. This white paper describes the process of developing a customized asset-allocation strategy, achieving meaningful diversification across and within asset classes, and monitoring allocations and reviewing portfolios.
-
Monthly Macro: Geopolitical Shock, Inflation Risks, and a Market on Edge
William Blair macro analyst Richard de Chazal unpacks the market implications of the U.S.–Iran conflict, discussing how the war is reshaping inflation and growth risks and challenging central banks’ playbooks, and why markets may be underpricing the possibility of a more prolonged disruption. Richard also touches on emerging stress in private credit beneath the surface.
-
-
-
-
-
-
-
-
-
-
-
-
-
Economics Weekly: Wobbles in Private Debt Market
One topic we have increasingly been receiving questions on over the last few weeks has been private credit, and in this Economics Weekly, we address concerns about whether recent emerging issues in the space pose a systemic threat to the banking system and the wider economy.
-
-
-
-
-
-
How Personal Wealth Planning Aligns with the Business Sale Process
If you as a business owner are going through the process of selling your business or completing a dividend recapitalization, your advisor will have experience guiding you through the process of developing a plan for managing the liquidity generated.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Monthly Macro: AI Anxiety, Software Selloffs, and the Search for Winners
In this episode of Monthly Macro, macro analyst Richard de Chazal and William Blair’s co-head of technology, media, and communications research, Jason Ader, unpack the sharp selloff in software stocks and the growing fear around AI-driven disruption.
-
-
-
-
-
-
-
Economics Weekly: Modern Day Engels’ Pause Is Not the Inevitable Outcome of AI
In this Economics Weekly, Richard de Chazal constructs a few scenarios around the current AI revolution and why we should not view that outcome as an unfortunate accident, but rather as a result of the decisions we make today.
-
-
The Agentic Era: Vertical Software’s New Growth Engine
From automating entire workflows to unlocking trillions of dollars in new enterprise value, AI is transforming vertical software. Learn why industry-specific platforms are poised to lead the next wave of productivity and growth in the Agentic Era.
-
Data Centers: The Quiet Champion of Commercial Real Estate Growth
AI and cloud computing are fueling explosive growth in data centers, quietly transforming them into commercial real estate’s next powerhouse sector. Firms that build on their existing expertise to manage these highly specialized facilities stand to capture meaningful, durable growth for years to come.
-
-
-
-
-
-
-
-
Navigating the Primary Economic Risks Facing U.S. Households in 2026
While America’s economy appears resilient heading into 2026, hidden risks remain. From rising healthcare costs to potentially overexposed investment portfolios to equities, discover the key threats that could shake U.S. households this year.
-
Economics Weekly: A Look Ahead at the 2026 Midterms
In this Economics Weekly, we examine the key issues shaping voters’ views as the November midterm elections approach, assess which parties are most likely to control the House and Senate, and consider the potential ramifications for the remainder of the Trump presidency.
-
-
Setting the Stage for a 2026 Value Revival
Members of our U.S. value equity team explain why 2026 could mark a turning point for small- and SMID-cap value, citing improving fundamentals, historically wide valuation gaps, easing monetary policy, and the potential for a broader, more balanced market recovery.
-
-
Meet the Portfolio Managers: Matt Fleming and Mark Goodman
Matt Fleming and Mark Goodman share the experiences and principles that shaped their approach to value investing, the lessons that guide their decision-making, and why William Blair’s investment-led, partnership-driven culture supports long-term success for clients.
-
-
-
-
Going for Gold: After a Respectable 2025, Does a Resurgence Await?
The leveraged finance market proved resilient in 2025, with stable-to-rising activity despite policy swings and economic uncertainty. With borrower-friendly conditions and anticipated M&A momentum, 2026 is poised for a stronger finish if volatility stays contained.
-
-
-
-
-
-
-
-
-
-
-
-
Lawn Care’s Expansion Into Pest Control, Broader Outdoor Recurring Services
Lawn care companies are evolving into broader outdoor services platforms. Jack Williams from William Blair’s Investment Banking consumer products & services team delves into what’s behind this evolution and how it is stoking transaction activity.
-
-
-
-
-
-
-
300 Current Better Values: An Investment Philosophy In Motion
For nearly five decades, William Blair’s Current Better Values list has anticipated the companies shaping the future, often before the broader market sees what’s coming. An Investment Philosophy In Motion uncovers the disciplined research, enduring principles, and forward‑looking mindset that transformed a simple idea into one of the firm’s most iconic traditions.
-
-
-
Illuminating the Road Less Traveled in Biotech: Radiopharmaceuticals—Fourth Edition
Diagnostic radiopharmaceuticals have emerged as an integral part of the Alzheimer's disease diagnosis and treatment journey; newer tests could complement the disease workup procedure, though radiopharmaceuticals are likely to remain foundational.
-
Volts and Vaults: Where Industrial Demand Meets Precious Momentum
Drawing on the powerful forces of AI, electrification, and the energy transition, Alexandra Symeonidi, CFA, explores how evolving supply and demand dynamics across key industrial and precious metals are creating compelling investment opportunities in emerging markets.
-
-
-
-
-
-
-
-
-
-
-
-
Private Markets Update with Tony Frascotti, Head of Private Shares Trading
Tony Frascotti, William Blair's Head of Private Shares Trading, discusses the evolving landscape of private shares trading, highlighting market shifts, the expanding influence of AI and crypto sectors, and the changing dynamics of IPOs and liquidity for late-stage private companies.
-
-
-
-
-
U.S. Energy Policy in a Multipolar World
If the world shifts towards a multipolar economic system, America faces the hard reality of reindustrializing. Explore the critical choices ahead for U.S. policy, its advantages over Europe, and why reliable, dispatchable baseload power is the key to reindustrialization.
-
-