We hope that this letter finds you well. We had prepared a letter for you at an earlier date but decided to rework the original draft to include commentary on recent events. We had planned to talk about high valuations and downside risk but the coronavirus spread and ensuing stock market panic pre-empted that discussion.Read more “Q4 2019 Investment Newsletter: Market Update”

We write today with our thoughts on two topics: the threat of recession and our thoughts on a few recent gloomy articles about prospective returns to a balanced portfolio of U.S. stocks and bonds. Is a recession imminent and, if so, what does it mean for my investments? With respect to the first question theRead more “Q3 2019 Investment Newsletter: Market Update”

We write today with some thoughts on a few topics. First, how to deal with stocks and other investments that have significantly appreciated in price? To be sure, this is a nice problem to have. Second, our thoughts on a recent article in the Financial Post. We often field questions about stocks and other investmentsRead more “Q2 2019 Investment Newsletter: Market Update”