Bull markets are born on pessimism They grow on skepticism They mature on optimism They die in euphoria -Sir John Templeton Value investor Shelby Davis once said, “You make most of your money in a bear market; you just don’t know it at the time.” For those who may not have... read more →
Dec
06
May
25
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 →
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 →
May
12
A note from Bob on March 21, 2020 A couple of weeks ago, the S&P 500 entered “bear market territory” by closing down 20% below its previous all-time high. We have been reminded what seems to be hourly of this truth by the financial press. Maybe it’s just me, but... read more →
