April 2024 Client Letter

The Rolling Stones will tour again this summer. This is not breaking news. It’s been six decades since their first U.S. tour. The Stones always seem to be on the road. What is a little surprising, however, is what Mick Jagger is doing at his age.

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August 2023 Client Letter

In March, I wrote about the arithmetic of portfolio losses. With the more speculative indices, such as the Nasdaq 100, delivering impressive returns so far in 2023, it is worth revisiting this concept.

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June 2023 Client Letter

The S&P 500 and Nasdaq 100 indices have rallied impressively to start the year. After they underperformed blue-chip dividend stocks (FTSE High Dividend Yield Index) last year by the most in at least two decades, both indices are outperforming by a similar amount YTD.

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May 2023 Client Letter

Several years ago, when my family was considering taking our first cruise, many of you encouraged me to set sail, promising I would not be disappointed. We started research on various cruise lines and destinations and were ready to make our deposit. Then COVID hit, closing the cruise industry for most of 2020 and half of 2021 and leading to disappointment for a lot of us.

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March 2023 Client Letter

My copy of Bogle on Mutual Funds by investment giant and founder of The Vanguard Group, John Bogle, sits on my desk as it always has during my 30 years in the investment management business. Bogle’s first chapter begins with our favorite investment strategy, compound interest. Clients know that the process of having money make money by way of reinvesting dividends and interest year after year is one way to achieve investment success.

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