<p>Virtually everyone you talk to is bearish. The future is uncertain. Inflation isn’t falling as fast as everyone would like. Costs from labour to debt interest payments are rising. Central bankers are like a riddle of sphinxes.</p> <p>And yet, stocks are comfortably up year to date, particularly the digital titans of America: Microsoft, Alphabet, Apple and Amazon, all of which we own, and Meta and Telsa, which we don’t.</p>