Quarterly Letter 3Q 2020
Investment Review – Third Quarter 2020 October 2, 2020 The stock market made solid gains in the third quarter, with large advances in July and August, followed by a pullback …
Monthly Letters
Monthly Letter July 2020
Monthly Investment Review – July 2020 August 4, 2020 After a modest pullback in June, the stock market continued its recent uptrend in July (see chart below). …
Quarterly Letter 2Q 2020
Investment Review – Second Quarter 2020 July 3, 2020 After a historic selloff in the first quarter of 2020, the stock market made a remarkable recovery in the second quarter. …
Monthly Letter May 2020
Note: We did not publish a monthly review letter for April, and have not published any blog posts for the past month or so, because we have been busy with consulting projects. We will resume writing blog posts in the weeks ahead as time permits. Monthly Investment Review – May 2020 …
Quarterly Letter 1Q 2020
Investment Review – First Quarter 2020 April 1, 2020 The first quarter of 2020 was a period of dramatic developments in the economy and financial markets, due to …
Monthly Letter February 2020
Monthly Investment Review — February 2020 March 2, 2020 February was a dramatic month for financial markets, as the surprisingly rapid spread of the coronavirus across the world led to fears of …
Monthly Letter January 2020
Monthly Investment Review — January 2020 Feb. 3, 2020 The stock market was roughly flat in January, as gains made in the first half of the month were offset by …
Monthly Letter October 2019
Monthly Investment Review — October 2019 Nov. 1, 2019 October was a good month for the stock market, as the S&P 500 rose 2.0% while the Nasdaq gained 3.7%. As the month …
Year End Letter 2018
Investment Review — Year End 2018 January 3, 2019 2018 was a dramatic year in the financial markets, with a notable increase in stock market …
Monthly Letter August 2018
Monthly Investment Review — August 2018 Sept. 4, 2018 August was a good month for the U.S. stock market, with gains of 3.0% for the S&P 500 and 2.2% …