2019 and Beyond 

“Patience can be bitter, but its fruit is sweet.”  – Aristotle

As we focus on the outlook and issues confronting us as long-term investors, it is appropriate to first say thank you.  We at FLI have just celebrated our 35th anniversary in representing you, our clients, some of whom have been with us from our very inception.  Without you, we would not be writing this note.  I mention this because during that period we have been through much and have gained invaluable experience from many good and some perilous periods for our clients (where patience was always required). Continue Reading

“All investment returns are not created with equal risk.  Investors should recognize this, and evaluate each investment they make to determine the risk undertaken to achieve the gain they made.”  Robert D. Rosenthal, CEO and CIO of First Long Island Investors

A strong economy characterized by accelerated corporate earnings growth as well as robust consumer and business confidence led to record highs for the S&P 500, Dow Jones Industrial Average, and NASDAQ during the quarter. Continue Reading

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”  Warren Buffett, Chairman and Chief Executive Officer, Berkshire Hathaway

In our opinion, the second quarter was characterized by accelerating domestic economic growth while also reflecting angst over an aggressive trade posture taken by President Trump as well as a Federal Reserve Board intent on raising interest rates. Continue Reading