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January 2016 Investment Commentary: Robust Networks for the Long Term
January 2016 got off to a fast start in the wrong direction. The first trading day of the year saw the S&P fall 1.4% and the selling continued from there. The S&P ended the month down 5.0%,...
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February 2016 Investment Commentary: The Yield Curve is Flat Wrong
On the month, the S&P lost 0.19%, while the Russell 2000 shed a modest 0.22%. On the surface, February appears to be an uneventful market month. In reality, the month was a tale of two halves. At...
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March 2016 Investment Commentary: You Can’t Smooth the Lumps
“Charlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.” – Warren Buffett We called February a “tale of two halves” and the same can be said of the first...
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May 2016 Investment Commentary: Get Your Heavy Duty Staple Remover Ready
On August 25, 2014 the S&P crossed 2000 for the first time. We are nearly two-years past that milestone (now 21 months), yet the S&P continues to wrestle with the round-number level. In...
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June 2016 Investment Commentary: Brexit is No Lehman
As of last week, the story for this quarter was going to be different. We were going to highlight the more orderly recovery in stocks taking place after a chaotic first quarter. On Wednesday, the 22nd...
View ArticleAn Envestnet for the Long Run
Elliot Turner was honored to present at the 2016 Value Conferences Wide Moat Investing Summit. He presented IMAX at the inaugural event three years ago followed by eBay/PayPal in 2015. At this fourth...
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Q3’16 Investment Commentary: On the Matter of Correlations
The third quarter was a strong one, with the S&P rising 3.26% and the Russell 2000 tacking on 8.03%. After several consecutive years of summertime volatility, the summer of 2016 saw an historic...
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