Quarterly Commentary

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2022 Second Quarter Newsletter & Outlook

Investors took a beating in the first half of 2022 and are now hoping, dare I say praying, that the worst is over. This newsletter …

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2022 First Quarter Newsletter & Outlook

The two-year Pandemic Relief Party (in the form of $5 trillion in fiscal stimulus1 and a Fed easy money policy) drove a stock, bond, and digital …

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2021 Year-End Newsletter and Outlook

The Pandemic Investomania enabled many, but not all, risk takers to prosper in 2021. With some smallexceptions, I declined to risk your money in an …

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2021 Third Quarter Newsletter & Outlook

Camp Transitory vs. Camp Persistent vs. Camp “Surely, you can’t be that sure” The debate about inflation and its implications for investors has been heating …

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2021 Second Quarter Newsletter and Outlook

The Shortest Recession on record received the Most Stimulus on record, the result of a dire situation and reflexive response. The consequences of unleashing a …

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2021 First Quarter Newsletter and Outlook

Looking back at the first quarter of 2021, and at the economy of the last year, it feels as if the word “unprecedented” has lost …

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