Quarterly Review
Q1 2025 Review: Defying Gravity
They say that Michael Jordan’s “hang time” was only .9 seconds, but through technique, body control and timing, it looked like he could fly. The Bar-tailed…
Q4 2024 Review: The Other Revolution
In our last newsletter we wrote about the impending political revolution, but 2024 was defined by a different revolution: Artificial Intelligence. At least that’s what the…
Q3 2024 Review: Maybe The Market Does Care?
Maybe the market does care? Out of nowhere, the broader market “woke up” and decided there were a whole lot of compelling investments that had little…
Q2 2024 Review: Sometimes the Market Just Doesn’t Care
Sometimes the market just doesn’t care. All the air gets sucked up by a mega trend, and everything else gets overshadowed. Investors can chase the trend,…
Q1 2024 Compass Review: Two Sides of a Coin
In Warren Buffet’s latest annual Berkshire Hathway letter, he wrote, “For whatever reasons, markets now exhibit far more casino-like behavior than they did when I was…
Q4 2023 Compass Review: Time
The cornerstone of investing is the tradeoff between interest and time. A dollar today is worth more than a dollar tomorrow because you can earn interest…
Q3 2023 Compass Review
Expectations are hard to change. We expect certain things from our partners, our friends, an Amazon delivery, and a dining experience. When these expectations aren’t met,…
Q2 2023 Compass Review
The second quarter can be summed up in one word: Resilient. A resilient economy, despite higher interest rates. A resilient stock market, despite narrow leadership by…
Q1 2023 Compass Review
A major crisis. Accommodative monetary policy to save the system. Lower long-term interest rates. Financial and energy stocks priced for a major recession. Large cap tech…
Q4 2022 Compass Review
The world got a whole lot poorer last year. There was almost nowhere to hide. The S&P finished down 20% and the Nasdaq lost 33%. Even…
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