Investment Recap

Fourth Quarter 2020

The 4th quarter of 2020 was a record advance for stocks with the broad market up over 14%.  Our stocks substantially outperformed and were up approximately 21%.  These gains have continued into January and we have seen a further 6% advance...

Third Quarter 2020

The stock market continued to advance during the 3rd quarter with our stocks up over 6%. The economy is in a V shaped recovery and corporate earnings continue to rise above expectations. The underpinnings of the market improvement are...

Second Quarter 2020

Our first quarter letter emphasized the investment opportunities created by the sudden and sharp market sell off in the wake of the Covid-19 pandemic. We were properly optimistic and opportunistic and indeed market indexes were up over 20...

First Quarter 2020

Things are better! Better than at the end of March. Most importantly, New York, the epicenter of the Coronavirus epidemic in the U.S. has “bent the curve.” We are seeing governors in several states plan to gradually re-open parts of their...

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