This Week in Beyond Wealth
Whether investors think AI/tech stocks are overvalued, and how they're repositioning.
The small, everyday signs that tell you you've “made it.”
How investors borrow against their portfolios to fund private investments.
Money & Markets
Are we in an AI bubble, and should I be playing defense?
A debt scare at CoreWeave shook the AI trade last week. Days later, Anthropic filed to go public, and its S-1 put real revenue growth behind the AI story.
We polled 384 HNW investors asking if stocks are in an AI bubble.
62% said yes, 23% said no, and 15% have no idea.
In a second poll question, we asked if investors are diversifying out of AI/tech. The results are basically a coin flip: 55% are de-risking, while 45% said they’re staying fully invested at their normal allocation.
Among those who are moving money, the top destinations include:
Treasuries/bonds
Cash
Other assets
In the discussion thread, the defensive case focused on yield, with high-grade corporate bonds nearing 7%. Others called the bubble talk overdone, pointing to Anthropic's impressive filing.
Long Angle’s co-founder Tad Fallows was featured in CNBC this week, talking about how investors are now looking to sell stocks that have seen a massive runup as part of the AI trade. Tad summed up the thesis in a LinkedIn post:
“AI can change the world and still be overpriced.”
Life, Health, & Family
How do you know when you've made it?
One of the most-read Long Angle threads this month asked a simple question: what are the small, everyday signs that you've made it financially? It drew more than 150 replies.
Members kept describing the disappearance of money worry from ordinary moments, far more than any big purchase.
A few of the moments they named:
Not checking prices at the grocery store.
Treating a surprise car repair or vet bill as an annoyance instead of a crisis.
Paying to buy back time: delivery, a travel agent, help with the small logistics.
Picking up the tab for friends and family.
Giving to causes without a second thought.
Spending on health without weighing the cost.
Keeping the frugal habits they still enjoy, now by choice.
What stood out was the tone. People kept thanking the original poster, and each other, for appreciating the small things and taking none of it for granted.
Private Market Perspectives
How does borrowing against my portfolio work for private investments?
A securities-backed line of credit lets you borrow against your portfolio without selling, so your positions and their unrealized gains stay intact.
In private investing, it’s possible to fund a capital call with a portfolio-backed line, or use private positions as collateral for a loan. But both involve nuance, and not every lender will allow them.
In our 2026 HNW Financial Products survey, we found that 15% of investors who’ve taken out a loan or line of credit used the money to fund capital calls.
But whether a private fund call is permitted depends on the fund, the investment, and the lender's terms. When dealing with a bank or brokerage, describe the exact transaction and get the lender's confirmation in writing before you draw.
Private shares pledged as collateral are a separate question. On a standard credit line, these paper assets often receive little or no lending value, so a large private portfolio might only be able to back a small loan.
Around Long Angle
Why members join
Long Angle has grown past 9,000 members. We interview every one on the way in and ask what brought them here. A few reasons stand out from recent interviews:
A serious peer group: One member was looking for a group of peers to think through decisions with, without a big financial commitment.
A candid room: Another wanted to meet people at their level talking openly about the problems that come with wealth, somewhere they didn't have to hold back.
A source of advice: A third described themselves as at a crossroads, looking for direction on purpose and legacy.
Long Angle is a vetted online and in-person community for navigating the financial and personal sides of wealth together.
No membership fees. The application takes 5 minutes.
Published by:
Chris Bendtsen
Insights Lead, Long Angle
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This material is for informational purposes only and is not investment advice regarding any security or investment strategy. Long Angle does not provide legal or tax advice, consult your attorney, CPA, or tax professional regarding your situation.
Long Angle Management, LLC (Long Angle), is an SEC registered investment adviser firm. Registration does not imply a certain level of skill or endorsement. Investing involves risk, including potential loss of principal. Past performance is not indicative of future results.