September 2021 | Quarterly Letter
During the third quarter, investors were processing various economic and market information in a positive light until late in September.
August 2021 | Mid-Quarter Update
The National Bureau of Economic Research, the entity charged with dating business cycles, declared the recession of 2020 to have ended in April 2020.
June 2021 | Quarterly Letter
During the second quarter both stock and bond investors had much to assess.
May 2021 | Mid-Quarter Update
As we approach the middle of the second quarter there is plenty of economic and financial market news worthy of comment.
March 2021 | Quarterly Letter
The first quarter was one of the more active ones in recent memory.
February 2021 | Mid-Quarter Update
We are pleased to forward our mid-quarter update on developments within the economy and financial markets.
December 2020 | Quarterly Letter
Considering the circumstances of the year, most investors would agree that 2020 turned out better than expected from a return standpoint
September 2020 | Quarterly Letter
The third quarter was another positive one for the financial markets.
June 2020 | Quarterly Letter
The first half of 2020 will long be remembered as one of the more unusual and difficult periods in investment history.
March 2020 | Quarterly Letter
It is difficult to overstate the travail that the United States was forced to endure in the first quarter of the year
December 2019 | Quarterly Letter
2019 provided investors with financial market conditions that few could have imagined.
