The Long and Short of It
What generally follows that expression is a succinct synopsis. We’re always trying to be concise;
however, distilling complex economic and investment matters usually requires several pages.
Depressing the Optimists
We normally start our letters on a positive note.
What Does A Yellow Light Mean?
“What does a yellow light mean? Slow down!
Blueberries, Blowups And Babies
No, we did not run out of titles.
Right Place Wrong Time
Investors generally are still expecting above-average returns for U.S. stocks over the next several years. Meanwhile, since valuations are so high, models that have been historically accurate predicting 10-year returns point to negligible returns.
What A Weird World
Vaccines have been nothing short of a miracle; however, too many have been opting to not get them, endangering themselves and others, despite overwhelming evidence of the pro versus con.
Zooming To Booming
The pandemic forced us all to communicate via Zoom.
Spectate or Speculate
Many investors think there are only two options in a market where participants have become overly exuberant, either 'I want in' or 'Get me out.' Our strategies are more nuanced, and we believe fit better with what we expect to transpire.
The New Abnormal
A new normal is the norm. Changes are inevitable and therefore imaginable, even during this era of ever-growing technological breakthroughs such as cryptocurrencies, blockchain, robo-everything, 5G, EVs, AVs, AI, VR, AR, and IoT.1 We remember when ecosystem referred to a Costa Rican rain forest.
Not the Apple of My Eye
While this article is specific to Apple, we could have written a similar piece on Facebook, Amazon, or several other leading tech names whose valuations, based on our analysis, have lifted to levels we believe are unsustainably high in the short run.
Companies Struggling to Quantify COVID-19 Impact
Reports from China show COVID-19 is having a significant impact on the country’s economy. According to the China Passenger Car Association, car sales have plummeted by 92% during the first two weeks of February. A survey of small and medium sized businesses conducted by the Chinese Association of Small and Medium Enterprises revealed...
While some cook with a dash of this and a dash of that, the best chefs follow a recipe to a T. Without abiding by a set of instructions, you’re at risk of inconsistent results or worse, omitting steps altogether. Sugarless baked goods rank right up there with eating cardboard. And too much of even basic spices can ruin any dish. Overcooked foods can be dry or burnt. Undercooked foods can cause illness. Clearly, following a recipe precisely is essential.