I took a few days off last week for a little getaway. Flying back on Sunday, I was able to read the Wall Street Journal Weekend edition. A cover story in Section C was a review of the trade war between the U.S. and China that kicked off in 2018.... read more →
May
25
Feb
28
These events underscore our conviction that the essential challenge to long-term successful equity investing is neither intellectual nor financial, but behavioral; it is how one reacts, or chooses not to react, to market declines that will determine long-term financial success. Less than 60 days ago, we delivered our end of... read more →
Feb
04
Long-term successful equity investing is neither intellectual nor financial, but temperamental: it is how one reacts, or chooses not to react, to market declines. As the new year kicks off, I thought it would be helpful to briefly recap our shared investment philosophy (I hope you agree), and then share... read more →
Dec
06
This past Sunday marks a most significant anniversary in the economic and financial history of the United States, and I could not let it pass without comment. When properly appreciated, it can serve as an importantly teachable moment. For it was a quarter century ago, on the night of Thursday,... read more →
Sep
21
There was a little bit of a downturn in the stock market yesterday, around 1.7% if I recall. I really didn’t pay attention too much to the news. So, what of it? In the few fleeting seconds I was forced to watch a news story yesterday, I heard “plummet”, “collapse”... read more →
Aug
27
My commute to the office, if you can call it a commute, is about one and a half miles. Total drive time is about 7 to 8 minutes. Often, I will listen to some smooth jazz or something similar, or just have the windows down and feel a warm breeze.... read more →
Jul
07
As America continued to recover from the COVID-19 pandemic in the first half of 2021, the economy and the equity markets made significant progress. My midyear report to you is, as always, divided into two parts. First is a brief recap of our shared investment philosophy; second is my perspective... read more →
Jan
14
Once in a very great while, there comes a year in the economy and the markets that may serve as a tutorial—in effect, a master class in the principles of successful long-term, goal-focused investing. 2020 was just such a year. On December 31, 2019, the Standard & Poor's 500-Stock index... read more →
May
12
a note from Bob on April 29, 2020 News broke this morning that we were all anticipating - the economy shrank 4.8% in the first quarter. This should be a surprise to absolutely no one. I want to share with you my perspective on this news and what you may... read more →
May
12
a note from Bob on March 31, 2020 Congress and the President have been working overtime passing legislation to fight the effects of the Coronavirus. One recent item (the CARES Act) allows you to completely forgo your Required Minimum Distribution for 2020. This is an RMD holiday and presents some... read more →
