Investment Recap

Stocks continue to advance in the third quarter with gains of approximately 4%. Our results were even better due to a large weighting in small cap stocks, which have led the market this calendar year. Through the middle of October, three...

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...