Arch Capital’s (ACGL) Valuation Supports Strategic Capital Allocation The latest investor letter from Madison Investments' "Madison Large Cap Fund" sheds light on a concerning trend in the market – one that combines the frenzy of AI related stocks with the harsh reality of valuation.
Amidst the second quarter 2026 performance, driven largely by AI stocks, investors are fixated on which companies will reap the benefits of this emerging technology.
This fixation is reminiscent of the late 1990s internet bubble, where a narrow group of stocks saw astronomical gains only to eventually burst. The Madison Large Cap Fund (class I) returned 8.