by Ross Bowler | Jun 21, 2023 | Market Commentary
We Bought the Farm Over the last year and a half of this hyper-inflationary environment, we’ve joined the legions of other investors in ritualistically awaiting the monthly release of fresh Consumer Price Index (CPI) and Producer Price Index (PPI) reports. Most of the...
by Ross Bowler | May 22, 2023 | Market Commentary
Old Currency is New Again History has a tendency to repeat itself and, at times, it can be a long, frustrating process. On May 3rd, the Federal Reserve raised rates for a 10th time bringing the target rate back to the highest level it has been since the Great...
by Ross Bowler | Apr 18, 2023 | Market Commentary
Purgatory at the Point of Inflection About a year ago, in our search for yield that was safe in a rising rate, inflationary environment, we identified a multi-billion-dollar pool of fixed-to-floating rate preferreds we could buy at meaningful discounts to par that...
by Ross Bowler | Feb 22, 2023 | Market Commentary
Time Rewards Selectivity Before we started our seemingly endless commentary on runaway inflation, we talked a lot about our search for growth. We wanted to find growth within the pandemic. We wanted growth above inflation. We wanted to identify which companies can...
by Ross Bowler | Jan 13, 2023 | Market Commentary
The World Repriced Investors have removed their rose-colored glasses and now perceive the world through a glass, darkly. The overarching optimism that opened 2022 is all but gone. In 2022, the S&P 500 delivered a negative 18.1% total return, its worst annual...
