Hello friends, Since our last correspondence, the U.S. stock market has once again shown its resilience and rewarded the “buy-the-dips” crowd, making a sharp recovery from a 10-15% correction in April. This brief downturn was not unusual and after all, the S&P 500 had been up more than 20% in each of the prior twoRead more “Fall 2025 Newsletter: Market Update”

Dear friends, We hope this letter finds you well. In this letter, we provide commentary on U.S. stocks, the “magnificent seven” and geopolitical headlines including tariff threats. Given the threat of tariffs that has dominated the news cycle, many of you might ask, “What impact will potential U.S. tariffs on Canadian, Mexican and Chinese goodsRead more “Spring 2025 Newsletter: Market Update”

Dear friends, We hope this letter finds you well. It is a new year, so we write to give our thoughts on two topics: the stock market and interest rates.   As you are aware, fixed income investments (i.e. those that pay a fixed rate of interest and promise to return your principal at aRead more “Fall 2023 Newsletter: Market Update”