Second Quarter 2021
Equity prices across most global markets continued to surge to new highs in the second quarter of 2021. Buoyed by an abundance of liquidity enabled by central banks, as well as optimism about economic…
Our Quarterly and Annual REsults
Quarterly and Annual Reports
Access our record of reports to learn about our performance and our views and analysis of the market.
First Quarter 2021
The substantial shift from popular growth stocks to downtrodden value investments that began in November of last year continued in the first quarter of 2021. Encouraged by accelerating vaccine deployments, investors swiftly turned their…
Annual Review 2020
“Unprecedented” is likely the most overused word to describe 2020, but with good reason. There is no better way to describe all that transpired this year. In just the last nine months, we have…
Third Quarter 2020
The world’s economies continue to recover following the unprecedented lockdown orders in the spring, and equity markets have broadly regained the losses sustained during the nadir in March. While the stock indices themselves have…
Second Quarter 2020
Months after lockdowns were first imposed in response to the COVID‐19 pandemic, countries around the world have slowly begun to emerge from hibernation. While the public health consequences of the virus have gradually become…
First Quarter 2020
Over the past few weeks, our lives and the lives of those all over the world have been disrupted by the novel coronavirus, or COVID‐19, in ways we could never before have imagined. In…