Reporting for the family-office world.

Healthcare Editor Noel J. Guillama launches Healthcare Intelligence, a series examining the forces reshaping healthcare through the lens of long-term investing. Chapter One asks how the United States spent so much more on healthcare while gaining so little.

The Most Expensive Four Years in History While writing my recent four-part series on the 250th Anniversary of the United States, I unexpectedly found myself looking backward, not just at…