At its closing low last Tuesday, the S&P 500 Index was 12.5% below its all-time high of 2,135 and well into what market observers consider to be ‘correction’ territory. Intra-day lows early Monday were even scarier, in an apparent wave of indiscriminate selling. Given the speed of the decline (10%+ in six trading days), the… Read more »
Posts Categorized: Newsletters
Greetings – It goes without saying that the volatility we have experienced this week is unsettling. We are in the midst of a more detailed communication on the subject, but in the meantime we wanted to let you know that we are thoughtfully assessing the situation. The bottom line: we believe this is much more… Read more »
Last month marked the fifth anniversary of a landmark event we would all rather forget: the ominous intraday low of 666 on the S&P 500 Index. It is also six years since the collapse of Bear Stearns, which set in motion a frightening series of events that nearly brought the global economy to its knees and triggered a liquidity-driven collapse in equity prices. For those days, we’re feeling anything but nostalgia!
Often we are asked, “what kind of investment manager are you?” We’re inclined to reply, “a very good one, of course!” But the question relates to what style of investing we employ.