Welcome back to another edition of the Smart Wealth Newsletter, where we break down the markets, share our investment strategies, and provide insight into how we are building wealth as a family. This continues to be an exciting time for us not only in the markets, but personally as well. Trip is continuing to sharpen his financial and investing mindset while attending the Freeman School of Business at Tulane University, where he is actively applying real-world portfolio management and market analysis to his investments. At the same time, Frankie is preparing for his next chapter as he will be attending the McDonough School of Business at Georgetown University this fall—an incredible accomplishment that reflects his discipline and commitment to excellence. As always, this newsletter reflects how we think, invest, and navigate opportunities together as a family with a long-term focus on building meaningful wealth.

This past week in the financial markets was a textbook example of how quickly sentiment can shift when geopolitical risk enters the picture. While the underlying fundamentals of the U.S. economy remain intact, the escalation of tensions tied to Iran introduced a layer of uncertainty that markets simply could not ignore. As a result, we saw broad-based weakness across equities, increased volatility, and a clear rotation in where capital is flowing.

As of Friday, March 27, 2026, the major indexes closed at the following levels:

All three indexes finished the week lower, continuing a pullback that has now stretched across multiple weeks. The Dow experienced significant intraday volatility, at one point dropping nearly 800 points, while the S&P 500 and Nasdaq saw more pronounced pressure due to their heavier exposure to growth and technology stocks.

But here is the most important takeaway for investors:

This selloff is being driven by uncertainty—not by a breakdown in economic fundamentals.

The primary catalyst for the week’s decline was the escalating geopolitical situation involving Iran. Whenever the United States becomes more directly involved in a Middle Eastern conflict, markets react swiftly, and often emotionally. This is not new—it is a pattern we have seen repeatedly over decades.

Markets are forward-looking, and when uncertainty rises, investors begin pricing in worst-case scenarios before those scenarios actually materialize. This week, several concerns entered the market simultaneously:

This combination created a risk-off environment, where investors moved away from higher-risk assets and toward sectors perceived as safer or more immediately beneficial in a conflict scenario.

One of the clearest signals this week was not just that stocks were falling—but where money was going.

Capital did not leave the market entirely. Instead, it rotated.

This is classic behavior during periods of geopolitical stress. Investors shift toward sectors that either benefit directly from the situation (like energy and defense) or provide perceived stability.

However, this rotation is typically temporary, not permanent.

Let’s take a step back and look at the bigger picture.

Geopolitical conflicts, particularly in the Middle East, have historically created short-term market disruptions but rarely long-term damage to equities. In fact, the pattern is remarkably consistent:

We are currently in the transition between Phase 1 and Phase 2.

The market is still reacting to headlines, but investors are beginning to assess the actual economic impact rather than reacting purely to fear.

And this distinction is critical.

One of the most immediate reactions to the Iran situation has been movement in oil prices. The Middle East plays a central role in global energy supply, so any disruption—or even the threat of disruption—can push prices higher.

Higher oil prices have ripple effects throughout the economy:

This is why the market reaction extended beyond energy stocks and impacted broader indexes.

Investors are trying to answer a key question:

👉 Is this a short-term spike in oil prices, or the beginning of a sustained inflationary trend?

If it is short-term, markets will recover quickly.
If it becomes prolonged, it could delay Federal Reserve easing.

The Federal Reserve remains a key variable in this environment.

Coming into the year, markets were expecting interest rate cuts. However, rising oil prices complicate that outlook. If inflation remains elevated due to energy costs, the Fed may be forced to keep rates higher for longer.

This is particularly important for:

These sectors are more sensitive to interest rate expectations, which is why they experienced more pressure this week.

But again, this is based on potential outcomes—not confirmed realities.

The Nasdaq’s decline this week was driven largely by weakness in technology and AI-related names.

But it is critical to understand:

Nothing fundamentally changed about these companies.

The selloff was driven by positioning and risk management, not deteriorating business performance.

When uncertainty rises, investors reduce exposure to the most volatile assets first—and those tend to be growth stocks.

In the current environment, we see a clear distinction between short-term winners and long-term winners.

The key is understanding that short-term strength does not always equal long-term opportunity.

This is where discipline matters most.

Many investors will:

That is reactive behavior.

And reactive behavior leads to poor long-term results.

The better approach is to:

Despite the volatility, the core drivers of this market remain intact:

The only real variable right now is uncertainty tied to geopolitics.

And uncertainty does not last forever.

When clarity emerges—and it always does—the market will begin to move higher again.

As the situation with Iran stabilizes, one of two things will happen:

In both scenarios, uncertainty declines.

And when uncertainty declines, capital flows back into:

This is where the next leg of the market rally is likely to come from.

We are not reacting emotionally to this pullback.

We are:

Most importantly, we are focused on what happens after the uncertainty fades—not during the peak of fear.

This week’s market action is a reminder that volatility is part of investing.

Geopolitical events create noise—but they rarely change long-term outcomes.

The investors who succeed are not the ones who avoid volatility.

They are the ones who understand it, stay disciplined through it, and position themselves ahead of the recovery.

In a week where markets were driven by geopolitical headlines and volatility tied to Iran, it becomes even more important to step back and focus on one of the most powerful wealth-building tools available: real estate with predictable income.

While stocks will always play a critical role in generating long-term growth, real estate—when done correctly—provides something equally valuable:

👉 Consistency

And within real estate, one of the most consistent and overlooked strategies is Section 8 investing.

This is not a strategy built on speculation or appreciation alone. It is built on cash flow, demand, and government-backed income, which makes it especially relevant in uncertain economic environments.

Section 8, also known as the Housing Choice Voucher Program, is a federal initiative designed to help low-income individuals and families afford housing in the private rental market.

But from an investor’s perspective, what matters is not the program itself—it’s how the money flows.

Here’s what actually happens:

In many cases, the government covers the majority of the rent, often 70% to 100%, depending on the tenant’s financial situation.

That creates a very different dynamic compared to traditional rentals.

Right now, we are in a market environment defined by:

All of these factors increase the importance of stable income streams.

Section 8 stands out because it is not tied directly to market sentiment. It is tied to government funding and long-term demand for housing.

As uncertainty rises, the value of predictability increases.

Let’s be direct—this is the reason most serious investors eventually look at Section 8.

In a traditional rental:

In a Section 8 property:

Even if a tenant experiences financial difficulty, the government portion of the rent continues.

That creates stability that is very difficult to replicate elsewhere.

One of the most misunderstood aspects of Section 8 is demand.

In many markets across the country, there are:

This creates a supply-demand imbalance that favors landlords.

From an investor standpoint, that means:

Vacancy is one of the biggest risks in real estate. Section 8 significantly reduces that risk.

Another key strength of Section 8 investing is how it performs during economic downturns.

When the economy weakens:

At the same time, government support does not disappear.

In fact, it often becomes more important.

This means that while other landlords may struggle with missed rent or vacancies, Section 8 landlords often experience more stability, not less.

That makes it one of the most defensive real estate strategies available.

It would be a mistake to present Section 8 as a perfect strategy.

There are real trade-offs, and successful investors understand them upfront.

Before a property can be rented under Section 8, it must pass a housing inspection.

These inspections ensure:

There are also periodic re-inspections.

For investors who maintain their properties well, this is not a major issue.

For those who try to cut corners, it becomes a problem quickly.

Section 8 rents are based on Fair Market Rent (FMR) guidelines set by local housing authorities.

This means:

However, what you sacrifice in peak rent potential, you gain in:

👉 Consistency
👉 Reliability
👉 Reduced vacancy

Over time, those factors often lead to stronger overall returns.

Section 8 is not passive income in the pure sense.

You are still responsible for:

The key difference is that you are operating within a system that provides financial stability and structure.

We do not look at Section 8 as a replacement for other investments.

We look at it as a complement.

Here’s how we think about it:

Each serves a different purpose.

And when combined, they create a more resilient overall portfolio.

Let’s walk through a simplified scenario to bring this to life.

You purchase a property for $300,000.

Now consider two outcomes:

Traditional Rental:

Section 8 Rental:

That difference is what makes this strategy so powerful.

We believe Section 8 investing is particularly attractive right now because:

That last point is critical.

The best opportunities are often found where competition is limited.

Section 8 investing is not about chasing trends—it is about building a foundation.

It is a strategy that rewards:

In a market environment filled with uncertainty, having a portion of your portfolio tied to stable, government-backed income is a significant advantage.

Stocks will fluctuate.
Markets will react to headlines.
But income—when structured correctly—can remain consistent.

Section 8 is one of the most effective ways to create that consistency.

And over time, consistency is what builds lasting wealth.

Chris’s Morgan Stanley account remains the core foundation of the family’s equity portfolio, built around high-quality, large-cap companies with durable competitive advantages. This portfolio reflects a disciplined strategy focused on owning businesses that generate consistent cash flow, benefit from long-term secular trends, and compound value over time. The results speak for themselves, with significant gains driven by patience and conviction.

Microsoft Corporation (MSFT) closed at $356.77 and is currently up +694.93% since inception. The stock carries an average analyst rating of Strong Buy, with a 12-month price target range of approximately $380–$450. Chris rates MSFT as a Strong Buy.
Microsoft continues to dominate across cloud computing, enterprise software, and artificial intelligence, particularly through its Azure platform and deep integration of AI into its product ecosystem. Chris owns Microsoft as a cornerstone position because it combines stability with innovation, making it one of the most reliable long-term compounders in the market.

GE Vernova Inc. (GEV) closed at $853.16 and is currently up +738.52% since inception. The stock carries a Strong Buy rating with a target range of $900–$1,100. Chris rates GEV as a Strong Buy.
GE Vernova has been one of the most impactful investments in the portfolio, driven by global demand for electrification and energy infrastructure. Chris believes the company is still in the early stages of a multi-year growth cycle, particularly as AI-driven power demand accelerates worldwide.

Alphabet Inc. Class C (GOOG) closed at $273.76 and is currently up +59.41% since inception. The stock holds an average analyst rating of Strong Buy, with a target range of $290–$330. Chris rates GOOG as a Strong Buy.
Alphabet remains a dominant force in digital advertising while continuing to expand aggressively into artificial intelligence and cloud services. Chris owns Google because of its unmatched scale, strong balance sheet, and ability to innovate across multiple high-growth areas.

Amazon.com Inc. (AMZN) closed at $199.34 and is currently down -4.17% since inception. The stock carries a Strong Buy rating with a target range of $210–$260. Chris rates AMZN as a Buy.
Amazon continues to build long-term value through AWS and its global logistics network, even as short-term performance fluctuates. Chris remains confident in Amazon’s ability to compound over time, particularly as cloud computing and e-commerce continue to expand.

Apple Inc. (AAPL) closed at $248.80 and is currently up +65.94% since inception. The stock carries an average rating of Buy, with a target range of $250–$300. Chris rates AAPL as a Buy.
Apple’s ecosystem-driven model continues to generate consistent revenue and strong customer loyalty. Chris holds Apple as a foundational position that provides both stability and steady growth within the portfolio.

Costco Wholesale Corporation (COST) closed at $983.86 and is currently up +108.87% since inception. The stock holds a Buy rating with a target range of $950–$1,100. Chris rates COST as a Buy.
Costco’s membership model and pricing discipline allow it to perform well in both strong and weak economic environments. Chris owns Costco because it consistently delivers predictable growth with very high-quality execution.

General Electric Company (GE) closed at $282.81 and is currently up +186.82% since inception. The stock carries a Buy rating with a target range of $290–$340. Chris rates GE as a Buy.
General Electric’s transformation into a focused industrial company has significantly improved its operating performance. Chris continues to hold GE as a strong turnaround story with ongoing upside potential.

Procter & Gamble Company (PG) closed at $142.71 and is currently up +75.17% since inception. The stock carries a Buy rating with a target range of $145–$165. Chris rates PG as a Buy.
Procter & Gamble provides defensive exposure through its global consumer brands and steady demand. Chris owns PG to balance the portfolio with stability during periods of market volatility.

Meta Platforms Inc. (META) closed at $525.72 and is currently down -9.32% since inception. The stock carries a Strong Buy rating with a target range of $550–$650. Chris rates META as a Buy.
Meta continues to lead in digital advertising while investing heavily in artificial intelligence and platform expansion. Chris views the recent pullback as an opportunity for long-term growth rather than a structural concern.

ProShares Ultra QQQ (QLD) closed at $58.05 and is currently down -9.17% since inception. Chris rates QLD as a Buy.
QLD is a tactical position designed to capture leveraged upside in a Nasdaq rebound. Chris has added to this position strategically, believing the current pullback in technology is temporary and presents opportunity.

Chris’s Fidelity accounts complement his Morgan Stanley portfolio by focusing on high-conviction positions placed strategically across account types, including a Roth IRA for tax-free growth and a SIMPLE IRA for concentrated exposure.

Tesla Inc. (TSLA) closed at $361.83 and is currently up +13.78% since inception. The stock carries an average analyst rating of Buy, with a target range of $300–$500. Chris rates TSLA as a Strong Buy.
Tesla represents a long-term investment in electric vehicles, artificial intelligence, robotics, and energy innovation. Chris holds Tesla in his Roth IRA to maximize tax-free compounding on what he believes is a high-upside opportunity.

NVIDIA Corporation (NVDA) closed at $167.52 and is currently up +69.67% since inception. The stock carries a Strong Buy rating with a target range of $180–$250. Chris rates NVDA as a Strong Buy.
NVIDIA is at the center of the AI revolution, supplying the infrastructure that powers modern computing and machine learning. Chris views this as one of the most important long-term growth companies in the market.

Palantir Technologies Inc. (PLTR) closed at $143.06 and is currently down -6.09% since inception. The stock carries a Buy rating with a target range of $150–$220. Chris rates PLTR as a Strong Buy.
Palantir operates at the intersection of AI, data analytics, and government software, positioning it as a critical platform for decision-making across industries. Chris believes the company is still early in monetizing its AI capabilities, offering significant upside over time.

Amazon (AMZN) closed at $199.34 and is currently up +75.46% since inception. Chris rates AMZN as a Buy.
Amazon continues to benefit from strong growth in cloud computing and global logistics. Chris holds the position for its long-term ability to scale across multiple high-margin business lines.

American Express Company (AXP) closed at $292.27 and is currently up +75.35% since inception. Chris rates AXP as a Buy.
American Express offers exposure to consumer spending through a premium customer base. Chris values its pricing power and consistent earnings profile.

Trip’s portfolio reflects a more aggressive growth-oriented approach, combining long-term leaders with emerging and higher-risk opportunities. As a student at the Freeman School of Business, he continues to apply real-world market experience into his investment decisions.

GE Vernova Inc. (GEV) closed at $853.16 and is currently up +751.09% since inception. Trip rates GEV as a Strong Buy.
This has been a defining position in Trip’s portfolio, driven by long-term demand for energy infrastructure. He continues to see meaningful upside as electrification and AI-driven power demand grow.

NVIDIA Corporation (NVDA) closed at $167.52 and is currently up +6.66% since inception. Trip rates NVDA as a Strong Buy.
NVIDIA remains a core AI holding, and Trip views it as essential exposure to one of the most important technology trends in the market.

Apple Inc. (AAPL) closed at $248.80 and is currently up +114.35% since inception. Trip rates AAPL as a Buy.
Apple provides stability and long-term growth, acting as a foundational position in the portfolio.

Chevron Corporation (CVX) closed at $211.15 and is currently up +27.52% since inception. Trip rates CVX as a Buy.
Chevron has benefited from rising oil prices tied to geopolitical tensions, and Trip believes there is continued upside in the energy sector.

ProShares Ultra QQQ (QLD) closed at $58.05 and is currently down -8.96% since inception. Trip rates QLD as a Strong Buy.
QLD is a tactical position aimed at capturing a leveraged rebound in technology. Trip recently added to this position as part of a broader strategy to capitalize on market weakness.

Rocket Lab USA Inc. (RKLB) closed at $60.93 and is currently down -29.73% since inception. Trip rates RKLB as a Buy.
Rocket Lab represents a high-risk, high-reward investment in the future of space infrastructure. Trip continues to hold with a long-term perspective despite volatility.

Bitmine Immersion Technologies Inc. (BMNR) closed at $18.39 and is currently down -29.27% since inception. Trip rates BMNR as a Buy.
BMNR is a speculative position tied to emerging infrastructure and technology themes. Trip views it as a potential upside play if execution improves.

Frankie’s portfolio reflects a forward-looking strategy focused on innovation, artificial intelligence, and emerging technologies, balanced with strong core holdings. As he prepares to attend the McDonough School of Business, his portfolio demonstrates a clear understanding of long-term market trends.

GE Vernova Inc. (GEV) closed at $853.16 and is currently up +751.09% since inception. Frankie rates GEV as a Strong Buy.
GE Vernova remains a standout position driven by global electrification and AI-related power demand. Frankie continues to hold with strong conviction.

Microsoft Corporation (MSFT) closed at $356.77 and is currently up +219.06% since inception. Frankie rates MSFT as a Strong Buy.
Microsoft is a core long-term holding due to its leadership in AI and enterprise software. Frankie views it as one of the safest growth companies in the market.

Tesla Inc. (TSLA) closed at $361.83 and is currently up +21.67% since inception. Frankie rates TSLA as a Buy.
Tesla offers exposure to multiple high-growth areas including EVs, AI, and energy. Frankie maintains a long-term outlook on the company’s potential.

Palantir Technologies Inc. (PLTR) closed at $143.06 and is currently down -0.57% since inception. Frankie rates PLTR as a Strong Buy.
Palantir remains a high-conviction AI play, with strong positioning in both government and enterprise markets. Frankie believes the company is still early in its growth cycle.

Navitas Semiconductor Corporation (NVTS) closed at $8.28 and is currently up +11.29% since inception. Frankie rates NVTS as a Buy.
Navitas is focused on next-generation semiconductor technology, particularly in energy efficiency. Frankie sees long-term potential as demand for efficient power solutions grows.

Nebius Group N.V. (NBIS) closed at $100.82 and is currently up +18.93% since inception. Frankie rates NBIS as a Buy.
Nebius provides exposure to emerging AI and cloud infrastructure markets. Frankie views it as an early-stage growth opportunity.

Aurora Innovation Inc. (AUR) closed at $4.12 and is currently up +5.64% since inception. Frankie rates AUR as a Buy.
Aurora represents a speculative investment in autonomous driving technology. Frankie believes the long-term upside could be significant if the company executes.

Meta Platforms Inc. (META) closed at $525.72 and is currently down -9.03% since inception. Frankie rates META as a Buy.
Meta continues to dominate digital advertising while investing heavily in AI. Frankie views the current pullback as a long-term opportunity.

Across all three portfolios, one theme remains consistent: we are investing in the future, not reacting to the present.

Markets will fluctuate, headlines will create noise, and uncertainty—like what we are seeing with Iran—will test investors. But the long-term opportunity remains in owning high-quality businesses, staying disciplined, and positioning ahead of major trends rather than chasing them.

We will continue to invest alongside you, share our thinking openly, and focus on building wealth the right way—through patience, conviction, and long-term strategy.

This newsletter is for educational purposes only and should not be considered financial advice. We are not financial advisors, and all investments carry risk. Always conduct your own research and consult with a qualified financial professional before making investment decisions.