
October 2026 | Quarterly Letter
The economy has remained resilient and corporate earnings have supported stocks, but the bond market has become a more demanding participant in the investment equation.

June 2026 | Quarterly Letter
Our core beliefs and high conviction in the process behind them mean that periodically our portfolios will look different and perform differently than the overall stock market.

March 2026 | Quarterly Letter
Interconnectedness as a concept can be of relevance to investors when trying to understand current investment conditions.