CLIENTS OF THE FIRM,
The first quarter of 2017 has largely played out according to our expectations with assets behaving in a manner consistent with the unfolding political landscape. While in the past week market sentiment has shifted somewhat, the underlying economic conditions remain sound and supportive of investment. This letter will focus on the shifting political landscape, stock and bond prices and the value of the dollar and what to do with a correction in prices.
Read MoreCLIENTS OF THE FIRM,
As the end of 2016 rapidly approaches, we look back on a volatile year in which we saw a very dynamic stock market stoked by the surprise election result and the long-awaited move higher in interest rates begin to materialize. Our forward focus remains on identifying undervalued investments in a higher price and higher rate environment and the underlying factors that drive incremental profitability in businesses we own and aspire to own.
Read MoreCLIENTS OF THE FIRM,
As we near the end of Summer and the leaves turn amber and brown, permit us to wax a bit poetic at the season that was and what the turn of autumnal clock may bring for our investments. Recently, several macro-economic themes have become clearer as they often do when the mind opens and we turn the page of the calendar. We will try to distill them here.
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