July 15, 2012
July 2012 – Quarterly Letter
All Eyes Are on Europe Another day, another make or break European summit. This is…
Read More
April 15, 2012
April 2012 – Quarterly Letter
I’m happy to report that stocks turned in their best first quarter performance since 1998. …
Read More
January 15, 2012
January 2012 – Quarterly Letter
Happy New Year! The New Year is especially welcome after the endurance test that 2011…
Read More
October 15, 2011
October 2011 – Quarterly Letter
What a miserable quarter. The S&P 500 has now dropped 10% so far this year,…
Read More
July 15, 2011
July 2011 – Quarterly Letter
Halftime Performance If you only looked at the returns for the last three months, you’d…
Read More
April 15, 2011
April 2011 – Quarterly Letter
So far, 2011 is shaping to up to be one for the history books. Tunisians…
Read More
January 15, 2011
January 2011 – Quarterly Letter
Economic Signs of Life The economic vital statistics suggest that the economic recovery will persist…
Read More
October 15, 2010
October 2010 – Quarterly Letter
Stocks are still undervalued in spite of benefiting from the strongest September since 1939. Clearly,…
Read More