Semi-annually our team produces a client letter highlighting current market trends, investment ideas and other information that we think our clients will find valuable. We invite you to explore the archive of our recent client letters below and reach out to us if there are issues you would like to discuss. We would love to hear from you.

Our most recent newsletter:

July 11, 2019

They call it Fed Speak. Which is a fancy term for total ambiguity. Our best Fed Chairs have been artists who can answer questions in such a way that two informed persons hear two different messages. A variation on this theme is, “leave ’em guessing.” There are times we envy this approach as we communicate with you. If no one is entirely certain what we said, despite the fact that it sounded coherent, we have laid the ground work for plausible denial should the need arise. We just have to be careful about being too clear in the meantime.... read more

Newsletter archive

January 2019 - Exit, pursued by bear...

July 2018 - It's quiet. Too quiet

January 2018 - Nothing succeeds Like excess
July 2017 - What, me worry?
January 2017 - Come gather ’round people wherever you roam...
July 2016 – There must be some kind of way out of here ...
January 2016 – Double, double toil and trouble, fire burn, and cauldron bubble…
August 2015 – Everyone has a plan until they get punched in the face.
July 2015 – I’m as mad as Hell and I’m not going to take this anymore!
February 2015 – Too much of a good thing is wonderful!
July 2014 – You don't know who is swimming naked until the tide goes out.

Contact us

If any of these topics spurs a question or investment idea you would like to discuss, please feel free to contact us anytime. We would value the opportunity to speak with you.