Investment Recap

Stocks have extended their gains into the second quarter and through the beginning of July.  In January we observed that the overall environment was changing from a year ago.  We cited the attractiveness of Value stocks and Small Cap...

As the expression goes “the worm has turned”. In our January letter we wrote about last year’s narrow market leadership which favored just a handful of large cap growth stocks. We cited the extreme valuation of the “FANG stocks” and...

  The stock market showed improvement in the fourth quarter, although small cap and value stocks did not move up as much as growth stocks, particularly the glamour stocks:  Facebook, Amazon, Netflix and Google. These “FANG” stocks provided...

  The best news of the 3rd Quarter is… that it is over.  Severe stock market weakness characterized the period, highlighted by the dramatic mid-August three day 1000 point decline in the Dow Jones Industrial average. In our last, letter we...