From the Current Issue

Shifting sands: Adopting a cross-vertical mindset will be key to keep up with changing times

by Kali Arevalo

The ongoing expansion and evolution of what comprises infrastructure will demand a fundamental mindset shift among governments, investors and industry operators about how to fund, build, use and maintain it, according to a September 2025 report from McKinsey & Co. titled The infrastructure moment.

From the Current Issue

The money pump: How infrastructure investors can avoid the extrapolator’s trap

by Geoffrey Dohrmann

In their 2023 book The Missing Billionaires: A Guide to Better Financial Decisions, Victor Haghani and James White present a thought-provoking essay titled “Extrapolators Beware the Money Pump.” It is a cautionary tale about how investors who base decisions solely on past returns can be systematically exploited — even when investing in assets with positive expected returns.