April 1, 2017
April 2017 – Quarterly Letter
The current bull market turned eight years old this past month. This makes it the…
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January 12, 2017
Jan 2017 – Quarterly Letter
Most predictions reflect the past. Stock market returns average about 9% a year.Failure of Investment…
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October 15, 2016
October 2016 – Quarterly Letter
Stocks are flat over the last couple of years as we continue to work our…
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July 15, 2016
July 2016 – Quarterly Letter
In spite of negative investor sentiment, and mutual fund cash allocations at their highest since…
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April 15, 2016
April 2016 – Quarterly Letter
The market experienced a fairly substantial sell-off in January. Commentators observed that it was the…
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January 15, 2016
January 2016 – Quarterly Letter
Globally, stocks were flat to down in 2015. Most fixed income assets were also down…
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October 15, 2015
October 2015 – Quarterly Letter
Remembering Black Monday -- 1987 I was fourteen years old on Black Monday. Baseball was…
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August 15, 2015
August 2015 – Market Update
Once again, the market has hit some turbulence. For the last few years, it seems…
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June 15, 2015
January 2015 – Quarterly Letter
2014 marked the completion of my second decade as a stock portfolio manager. I embarked…
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June 15, 2015
July 2015 – Quarterly Letter
Summer Melodramas There have been two suspense stories unfolding in the markets this summer. We…
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