Quarterly Letters


Q3 2022 Quarterly Letter – Nowhere to Run

Q2 2022 Quarterly Letter – Ship Them Up To Boston

Q1 2022 Quarterly Letter – Fed Ends Sugar Mountain

2022 Trades to Watch


Q4 2021 Quarterly Letter – Whole Lot of Money

Q3 2021 Quarterly Letter – Money, Money, Money

Q2 2021 Quarterly Letter – God Only Knows

Q1 2021 Quarterly Letter – The Day The Music Died


Q4 2020 Quarterly Letter – Welcome to the Jungle

Q3 2020 Quarterly Letter – Has America Been Saved By Zero?

Q2 2020 Quarterly Letter -Infatuation

Q1 2020 – The Black Swan Has Landed


Q4 2019 – Year End Letter – What A Long Strange Trip It’s Been

Q3 2019 – For What It’s Worth-These 2 Will Not Take Down the Stock Market

Q2 2019 – Every Time It Gets Cloudy This Bull Market Finds a Way to Shine Until Tomorrow

Q1 2019 – Letter – First Crack in the Bull Market, But Don’t Get Fooled Again


Q4 2018 – As Springsteen Takes On Broadway-Investors Are Getting Blinded by the Light

Q3 2018 – Letter – Looking for Bubbles in all the Wrong Places by Matt Topley

Q2  2018 – There’s Still Time to Take the Road Your’re On, But It’s No Guaranteed Stairway to Heaven

Q1 2018 – Technology Faces Its Machiavellian Moment


Q4 2017 – God Bless America But Investing Only In U.S. May be an American Prayer

Q3 2017 – Infatuation-Bubble Spotters Obsessed with Another Debt Crisis

Q2 2017 – Tiny Bubbles

Q1 2017 – It’s the End of the World as We Know It

If It Looks Like a Top


2016 – Did Homeland’s Brody Just Signal THE END for Hedge Fund Boom

2016 – Trump May Feel Urgent to Copy Reagan But It’s a Much Different World