Investment Recap

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,...

In the First Quarter of this year, we noted a broadening stock market with more groups and individual stocks participating to the upside. This healthy development came to a halt in the 2nd quarter. The upward market momentum was focused on...