First Quarter 2023 Client Investor Letter

As the first quarter of 2023 ends, it appears that Spring has finally arrived. We hope you and your family are enjoying the change of seasons as much as we are in Princeton. Despite facing many high-profile challenges, equity and fixed income markets have progressed...

Fourth Quarter 2022 Client Investor Letter

Financial markets recovered in the fourth quarter, providing some relief in a historically challenging year. There’s still a lot of uncertainty, and we expect to see volatility in the coming months. Nonetheless, our investment approach remains steadfast –...

Third Quarter 2022 Client Investor Letter

The financial markets have been relentless in the year’s first nine months. Market downturns are not enjoyable for anyone, and everything from stock prices to the media and even friends challenges our conviction to be long-term investors. While we cannot be sure...