Robertson Stephens Weekly Commentary – October 26, 2026

Federal Reserve Chairman Kevin Warsh is a very good economist and occasionally emphasizes the point by indulging in the long, nerdy answers that delight the profession. It would thus be interesting to see what would happen if, at the press conference following the Federal Open Market Committee (FOMC) meeting on October 28, someone would ask him about the likely success of “Index suppression” efforts. Major US stock indexes closed the week mixed as concerns about artificial intelligence related spending and financing weighed on large-cap technology shares, while small-cap and value-oriented stocks outperformed amid a rotation in market leadership. The small-cap Russell 2000 Index led the major benchmarks, advancing 2.0%. On the wealth planning front, we explore lessons from Jimmy Buffett’s estate dispute and strategies for preventing trustee conflicts through clear governance, transparency, and thoughtful trust planning.