Democracy & Investment Returns

A couple of years ago, when our democracy was questioned, I embarked on a research project to ascertain how important democracy is to investment returns. Using this Wiki link https://en.wikipedia.org/wiki/Democracy_Index, I sorted the world’s countries by the strength...

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...