Investment Recap

While the second quarter started badly, stock prices have improved nicely since May and market interest has “broadened” materially. Small and mid cap stocks have outperformed larger stocks and value stocks have done better than growth...

So much has happened in the market this year. Most importantly, we had a good quarter. However, investment results tend to get obscured by the extreme market action. As we were drafting this letter last week, we considered titling it “...