Let’s start with a few historical observations: Equity markets have gone up 80% of the time when viewed on a 6-month rolling period. They have experienced 10% or greater declines over a 6-month period approximately 10% of the time. Of the worst downturns over the past 60 years, the market has recovered to its past...Read More

“It is more sekyr [certain] a byrd in your fest, Than to haue three in the sky a‐boue.” – John Capgrave’s The Life of St Katharine of Alexandria, 1450 The last four months have seen investors move from a futurity (new word for us) approach to a more here-and-now approach. The prices of companies focused on...Read More