Month

July 2017
As you are aware, my writings have really focused on our concerns for the overall markets due to elevated valuations and our strategy of focusing on special situations and deeply undervalued securities to maximize risk-adjusted returns.  I’ve always found Oaktree’s Howard Marks to be one of the most intellectually thorough investors.  His latest memo articulates...
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The 1st half of 2017 has been the polar opposite of the 1st half of 2016.  Where last year we saw massive market declines in January and late June, this year we have seen no material selloffs, and minimal volatility.  Investor sentiment has changed from primal fear in early 2016, to incredible market optimism and...
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