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2025 Q2 Letter

Financial market volatility was a key theme throughout the second quarter of 2025. BetweenApril 2nd and April 8th, U.S. stocks, as measured by the S&P

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2025 Q1 Letter

After two very good years for investors, financial markets began to experience elevatedvolatility in the first quarter of 2025. U.S. stocks, which have led global

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Q3 2024

Financial markets experienced elevated volatility in the third quarter, but as the final three months of 2024 get underway, stocks are at record highs and

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Q2 2024

Global equity markets posted another quarter of solid gains and added to a dramatic 18-month performance rebound. A continued rally in the stock prices of

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