Investment Recap

Our commentary last quarter was understandably focused on tariff initiatives put forth by President Trump. While the stock market’s negative reaction to those announcements in early April became quickly ameliorated, we once again have new...

In our January quarterly letter, we cited the valuation gap between large technology stocks and the rest of the market. The glamour growth stocks have corrected more in the 1st quarter, but all stocks have declined with the Trump...

Last year was clearly a wonderful year for stocks. The best gains, however, were concentrated in a narrow group of technology stocks and the largest ten stocks by market-cap, now comprise 40% of the market index. These conditions remind us...

Amidst the backdrop of two front-page, destabilizing wars as well as an alarmingly contentious Presidential election cycle, stocks resumed their positive momentum during the 3rd Quarter. Our stocks were up over 7% for the quarter,...