If you’d like to add friends or family to this email list, please sign up here. The Growth Portfolio finished October down 9.1% over the last year, the American Growth Portfolio declined 11.1%, and the Income Portfolio was down 3.2%. October was a difficult month for equities, particularly within technology,
If you’d like to add friends or family to this email list, please sign up here. The Growth Portfolio finished September up 1.2% over the last year, the American Growth Portfolio gained 4.5%, and the Income Portfolio declined 3.9%. While the major averages remained relatively resilient in September, market internals
If you’d like to add friends or family to this email list, please sign up here. The Growth Portfolio finished August up 16.3% over the past year, the American Growth Portfolio gained 22.6%, and the Income Portfolio returned 1.7%. August was a month where the major market averages appeared calm,
If you’d like to add friends or family to this email list, please sign up here. The Growth Portfolio finished July up 17.7% over the past year, the American Growth Portfolio gained 16.8%, and the Income Portfolio returned 3.9%. Despite significant swings beneath the surface in July, the headline indices
If you’d like to add friends or family to this email list, please sign up here. Over the past year, the Growth Portfolio gained 16.6%, the Income Portfolio returned 9.2%, and the American Growth Portfolio advanced 12.4%. Last month, we argued that the market’s advance was being driven more by
If you’d like to add friends or family to this email list, please sign up here. Over the past twelve months, the Growth Portfolio gained 21.2%, the Income Portfolio rose 9.7%, and the American Growth Portfolio advanced 25.3%. In last month’s letter, we highlighted how April’s rally was less about
If you’d like to add friends or family to this email list, please sign up here. Over the past twelve months, the Growth Portfolio gained 29.8%, the Income Portfolio rose 11.9%, and the American Growth Portfolio advanced 41.7%. April delivered one of the sharpest short covering rallies in market history.
If you’d like to add friends or family to this email list, please sign up here. Over the past twelve months, the Growth Portfolio gained 33.63%, the Income Portfolio rose 8.74%, and the American Growth Portfolio advanced 44.89%. These results were achieved while we deliberately reduced risk and leaned defensively,
If you’d like to add friends or family to this email list, please sign up here. Over the past twelve months, the Growth Portfolio gained 28.6%, the Income Portfolio rose 2.5%, and the American Growth Portfolio advanced 37.2%. Since late October, U.S. equity indices have moved sideways, but the apparent
If you’d like to add friends or family to this email list, please sign up here. Over the past year, the Growth Portfolio gained 20.6%, the Income Portfolio declined 2.1%, and the American Growth Portfolio advanced 30.2%. While the U.S. headline indices have barely moved since late October, this apparent
If you’d like to add friends or family to this email list, please sign up here. The Growth Portfolio finished the year up 28.0%, the American Growth Portfolio finished up 28.3%, while the Income Portfolio finished up 1.7%. As we enter 2026, our core view remains that markets are operating
If you’d like to add friends or family to this email list, please sign up here. November brought an end to the six-month streak of record-setting markets, among the longest runs of consecutive new monthly highs since the 1970s. Even with volatility returning, our portfolios held up well. Growth finished
If you’d like to add friends or family to this email list, please sign up here. October delivered another round of record highs across major equity indices. Despite holding elevated cash positions of roughly 50% across model portfolios, we posted solid results. The American Growth Portfolio led with a 3.9%
If you’d like to add friends or family to this email list, please sign up here. September brought another wave of record highs across major stock indices, extending the V-shaped recovery we anticipated earlier this year. Our portfolios have responded well: the Growth Portfolio is up 40.7% over the past
If you’d like to add friends or family to this email list, please sign up here. August delivered another round of record highs across major stock indices, extending the sharp rebound we anticipated earlier this year. Our proprietary indicators remain constructive, and late-month data confirmed this strength. A rare breadth
If you’d like to add friends or family to this email list, please sign up here. July marked another strong month for equity markets, with major indices reaching new all-time highs. This continues the powerful rebound that began in the spring, and the underlying data supports a constructive outlook in
If you’d like to add friends or family to this email list, please sign up here. Markets continued their upward march in June, with major indices reaching new all-time highs. Our portfolios remain well-positioned: The Growth Portfolio is up 24.5% over the past year, the American Growth Portfolio is up
If you’d like to add friends or family to this email list, please sign up here. Markets rebounded sharply in May, with our Growth portfolios posting strong gains and the Income portfolio advancing as well. Much like the rallies of 2009, 2018, and 2020, this one is fast, forceful, and,
If you’d like to add friends or family to this email list, please sign up here. Despite historic volatility, April ended on a strong note. The Growth portfolios posted solid gains for the month, while the Income portfolio saw a modest pullback. Year-over-year, all model portfolios remain firmly in positive
If you’d like to add friends or family to this email list, please sign up here. Over the past year, the Growth Portfolio has gained 10.8%, the Income Portfolio is up 14.5%, and the American Growth Portfolio is down 5.0%. While markets pulled back in March, this is precisely the
If you’d like to add friends or family to this email list, please sign up here. The recent market pullback has created a window of opportunity for strategic investors. While the Growth and Income Portfolios retraced most of January’s gains, U.S. stock indices remain near record levels, reinforcing the long-term
If you’d like to add friends or family to this email list, please sign up here. January was another strong month for our portfolios, with both the Growth Portfolio and the Income Portfolio reaching new all-time highs. The American Growth Portfolio, however, ended lower, reflecting broader market volatility. Despite recent
If you’d like to add friends or family to this email list, please sign up here. The Growth and Income model portfolios closed 2024 with exceptional results, demonstrating our disciplined approach and ability to navigate evolving markets. Over the year, the Growth Portfolio delivered a strong 23.7% return, the Income
If you’d like to add friends or family to this email list, please sign up here. The Growth and Income model portfolios once again delivered strong performance in November. The activity in volatility hedges we highlighted in last month’s update helped drive equities substantially higher, as anticipated. Notably, we witnessed
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