Investment Recap

Our April client letter covered much of the circumstances driving the market reversal which continued through the 2nd quarter. The broadening of market leadership accelerated with the healthcare sector in particular attracting more...

Things can change quickly in the world and are naturally reflected in the investment environment. The Iran War began in February, and higher oil prices, etc. caused a nearly 10% correction in the U.S. stock markets. Nonetheless, talk of a...

Happy New Year! Our investment letters in 2025 hinted at a broadening out of the overall market, or a “rotation” of market leadership. The only difference with our first letter of 2026 would be that many of the prognosticators and “wags”...

Several of the positive developments delineated in our last letter have come to fruition. As a result, the stock market had an impressive rally in the 3rd quarter. While there exist understandable concerns about tariff negotiations, the...