Third Quarter Investment Review

  • Posted on: 9 December 2015
  • By: admin

The following is an excerpt from our Third Quarter Investment Review, which can be found HERE

As we sit down to pen our 3Q review letter, we are faced with equity markets that have experienced a marked change in their behavior.  The sanguinely steady upward march of this bull market has been replaced by heightened volatility, extreme upward and downward moves of greater than 1%, and an increased level of fear that this time is different and that a correction within the bull market could morph into a decline of some magnitude—we even hear that we could experience another 2008/2009-style meltdown.