December 2023 Client Letter

December 6, 2023 Dear Valued Investor, Solid gains for both stocks and bonds gave investors a November to remember. As financial markets continue to defy skeptics, I’m reminded of a quote from Warren Buffett’s long-time partner and…

November 2023 Client Letter

November 1, 2023 Dear Valued Investor, The penultimate month of the year is often a time to reflect and offer thanks. And while economic and geopolitical uncertainty can overshadow the positives, there are things to be thankful for. Here…

October 2023 Client Letter

October 4, 2023 Dear Valued Investor, The S&P 500 lost 3.3% in the third quarter after sliding nearly 5% in September. Putting this into perspective, nothing really qualifies as out of the ordinary. Since 1950, the S&P 500 has…

September 2023 Client Letter

September 6, 2023 Dear Valued Investor, Financial markets lived up to their reputation during the month of August, which has a record for being difficult. On the first day of August, markets had to contend with a downgrade of U.S. long-term…

August 2023 Client Letter

August 2, 2023 Dear Valued Investor, Making economic forecasts and stock market predictions can be humbling. It’s especially tough when you expect stocks to go higher and get a big drop instead. The environment today is the opposite,…

2023 Midyear Outlook Client Letter

July 11, 2023 Dear Valued Investor, Now that we’re beyond the midpoint of the investing year, it’s a great time to look at where we’ve been—to help position your portfolio for the latter half of the year. Our Midyear Outlook: The…