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How to Manage the 4 Risks Hiding Inside Every AI-Heavy Portfolio

John O’Connell was recently published in Kiplinger, the third in his series on AI concentration risk, laying out four risks that could break the assumption holding up the AI buildout: that today’s spending gets paid back by tomorrow’s revenue. The four are demand risk, with the gap between AI spending and revenue running around...

The CFTC Wants to Give Prediction Markets a Rulebook

John O’Connell was recently published in Investing.com on the CFTC’s June 2026 proposal to finally give prediction markets a rulebook. For sixteen years the Commission’s power to block event contracts ran on guesswork, with no defined process or deadline, and the proposed rule replaces that with a three-step test and a real review clock...

AI Just Exposed This Firm’s HR Secrets — Here’s How to Avoid It

John O’Connell was recently a guest on the Modern Financial Advisor Podcast, joining host Mike Langford to lay out where wealth management firms actually stand on AI adoption. He opens with a story that should make every compliance officer sit up: a firm turned on Microsoft Copilot, connected it to SharePoint, and assumed its...

The Full Anatomy of a Loop, and How to Build One in Under Ten Minutes

A loop has five parts. Skip one and you do not get a slower loop. You get a system that burns tokens on a dead end, or one that silently produces the wrong answer with total confidence. Understanding what each part does, and then building one yourself, takes less time than most firms spend debating...

An Estate Planning Roadblock? Don’t Blame the Lawyers

John O’Connell was recently published on why estate planning really takes so long at most firms, and it isn’t the attorney. John says that before any legal drafting starts, someone has to reconstruct what already exists. That discovery work is where engagements actually stall, but it stayed invisible because drafting speed is a sellable demo...

The Trading Strategy Tax: Why Your Investment Approach Now Has a Price Tag

John O'Connell was recently published in PowerAdvice on how Schwab's new $5 Block Desk fee puts a price tag on your trading strategy. His point is that the fee looks trivial in isolation but multiplies across accounts, securities per model, and trading frequency, so a $1B active rebalancer can face roughly $450,000 a year,...

AI Is a Supply Chain Rather Than an Industry: Here’s Why

John O’Connell was recently published in Kiplinger, the second in his series on AI concentration risk, arguing that AI isn’t an industry but a six-layer supply chain, running from chip design and fabrication through data movement, data-center construction, the hyperscalers writing the checks, and the software layer that has to monetize it all. His...

The $500 Million Tax Leak and Why State Budget Offices Are Starting to Notice

The American Gaming Association's State of the States 2026 report put a number on something state treasurers had suspected but could not quantify. Prediction market platforms diverted more than $500 million in potential sports betting tax revenue in 2025.¹ Kalshi and the platforms that followed it into the market collected that revenue from the same...