
Investment Climate October 2021: Interesting Times
Markets spent the last quarter in a general “holding pattern” with periods of severe up and down volatility followed by periods of relative quiet, all accompanied by low volume and ending with little progress overall for the quarter, which ended flat to slightly down. Our portfolios acted similarly. As we are now in the traditionally weak part of the year – September/October – it would not be at all surprising to see a more severe correction materialize, along the lines of

Investment Climate July 2021: Return of New Public Companies
We have long believed in the power of free enterprise. Now in our fourth decade of managing money, we have never ceased to be amazed at the creativity of brilliant people who have an idea, invention, or process and turn that into a solid business that serves what other people want and need. It is what has defined Western Civilization and is a very good thing. That idea of being focused on what others want and need, when accompanied by “rules of the road” that adhere to Nat