Client Letter

Client Letter | Signs of Strength in the Economy | October 1, 2020

Autumn has arrived, with students back in school, baseball playoffs beginning, and football in full swing. Life is trying to get back to as normal as possible despite the ongoing impact from COVID-19. While the number of new daily cases and hospitalizations from...

Client Letter | Back to School in a New Way | September 3, 2020

Back to school this year will be different. On the one hand, like other years, it marks the end of summer, the arrival of cooler weather, kids hitting the books again, and Labor Day gatherings. But unlike other years, going back to school carries unique concerns...

Client Letter | Positive Territory | August 6, 2020

The battle versus COVID-19 continues. The spread in some of the recent hotspots like California and Florida is slowing, while states in the Northeast and Midwest are now experiencing increases in cases. According to the World Health Organization, 27 vaccines are in...

Client Letter | To Go But Up | May 7, 2020

Dear Valued Investor, Investors like labels for the economy and financial markets—many of them with the word “great” in them. The Great Depression. The Great Recession. The Great Lockdown. Well, we’ve moved into what we might call the Great Disconnect. How can stocks...

Client Letter | How We Respond Matters, Revised | April 23, 2020

“Life is 10% what happens to you and 90% how you respond to it.” — Lou Holtz, Hall of Fame football coach As the battle against the COVID-19 pandemic continues, how we respond to it will determine how we beat it. Continued sacrifices range from everyone in the medical...

Client Letter | How We Respond Matters | April 21, 2020

Dear Valued Investor, “Life is 10% what happens to you and 90% how you respond to it.” — Lou Holtz, Hall of Fame football coach As the battle against the COVID-19 pandemic continues, how we respond to it will determine how we beat it. Continued sacrifices range from...