Scorecard # 43 – Quarter Century
We don’t mind the current market environment as we are finding new places to put capital…
Scorecard # 42 – Skinny Pop
Index returns are discussed ad nauseam but rarely analyzed. The current market rally has been a narrow one and merits a deeper dive.
Scorecard # 41 – Banking’s Endgame
“Investors are on edge. Rapid interest rate increases are creating stresses in the banking sector… “
Scorecard # 40 – Reversals of Fortune
“There are a million ways to get wealthy… but there’s only one way to stay wealthy: some combination of frugality and paranoia”
Scorecard # 39 – Get a Grip
As the Oracle of Omaha himself so aptly put it, value investing is simple, but not easy
Scorecard # 38 – Funiculì, Funiculà
Funiculì, Funiculà The Value Fund is down -9.2% year-to-date (YTD), 
Scorecard # 37 – The Golden Rule
“Buy quality companies when they are on sale. Avoid leverage, folly and big mistakes that set you back. It is simple, but not easy.”
Scorecard # 35 – Realpolitik
“No Chinese leader has ever abandoned the insistence on ultimate unification [of Taiwan] or can be expected to do so. No foreseeable American leader will jettison the American conviction that this process should be peaceful or alter the American view on the subject”.
Henry Kissinger, On China (1)
Scorecard # 34 – Bedrock
Trying to predict and successfully time when the next storm will arrive is not a substitute for sturdy construction. Financial storms tend to arrive with little warning. The key to resilience is to know that they will inevitably come and to prepare in advance.