Category: Quarterly Investor Letters

September 2015

The total return of the S&P 500 in the Third Quarter was -6.44%.  From its recent high on May 21, 2015 to the low on

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June 2015

As has been the case for several years, the beginning of summer exhibited a rise in market volatility, triggered by geo-political concerns.  In 2014, paranoia

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March 2015

The title of our Annual Symposium last month was “How I Learned to Stop Worrying and Love…Low Oil Prices, Low Interest Rates, and a Strong

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