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April 25, 2022
The fog of war
Market Summary – 1st Quarter, 2022 The world has been upended by Russia’s military invasion of Ukraine. As the...
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January 26, 2022
“If something cannot go on forever, it will stop”
Market Summary – 4th Quarter, 2021 The headline of this newsletter cites what is known as “Stein’s Law”, coined...
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October 22, 2021
“The conversations that you never hear”
Market Summary – 3rd Quarter, 2021 “When the music stops, in terms of liquidity, things will get complicated. But...
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July 22, 2021
“The future is not something to predict… but rather to navigate”
Market Summary – 2nd Quarter, 2021 “We predict too much for the next year and yet far too little...
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April 21, 2021
“Shall we play a game?”
Market Summary – 1st Quarter, 2021 “Mr. McKittrick, after very careful consideration, sir, I’ve come to the conclusion that...
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January 21, 2021
“The times they are-a-changin'”
Market Summary – 4th Quarter, 2020 “The slow one now will later be fast, the order is rapidly fadin’...
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October 23, 2020
“…and the home of the brave.”
Market Summary – 3rd Quarter, 2020 “There are known knowns; there are things that we know we know. We...
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July 17, 2020
“The Year That Shattered America”
Market Summary – 2nd Quarter, 2020 “All of us might wish at times that we lived in a more...
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April 13, 2020
Our finest hour
Market Summary – 1st Quarter, 2020 “I see great reason for intense vigilance and exertion, but none whatever for...
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January 17, 2020
The more things stay the same, the more they change
Market Summary – 4th Quarter, 2019 “That men do not learn very much from the lessons of history is...
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