Dear friends, We hope this letter finds you well. In this letter, we provide commentary on U.S. stocks, the “magnificent seven” and geopolitical headlines including tariff threats. Given the threat of tariffs that has dominated the news cycle, many of you might ask, “What impact will potential U.S. tariffs on Canadian, Mexican and Chinese goodsRead more “Spring 2025 Newsletter: Market Update”

Dear friends, We hope this letter finds you well. It is a new year, so we write to give our thoughts on two topics: the stock market and interest rates.   As you are aware, fixed income investments (i.e. those that pay a fixed rate of interest and promise to return your principal at aRead more “Fall 2023 Newsletter: Market Update”

Dear friends, We hope this letter finds you well. Since our last correspondence, we have witnessed the failure of a few small U.S. banks, including Silicon Valley Bank (SVB) and uncertainty lingers about the U.S. and European banking systems. Some investors are concerned that the failure of these few small, regional banks including SVB (andRead more “Spring 2023 Newsletter: Market Update”