June 30, 2019

“The conventional view serves to protect us from the painful job of thinking.”  John Kenneth Galbraith

The second quarter of 2019 followed two quarters of significant volatility.  Continue Reading

March 31, 2019

“We always live in an uncertain world.  What is certain is that the U.S. will go forward over time.”  Warren Buffett

Robust results were recorded in the first quarter by equity markets following a very difficult fourth quarter. (Our clients enjoyed meaningful gains in all of our equity strategies in the first quarter.)  Continue Reading

On February 7, 2019, members of the First Long Island Investors Investment Committee held a web seminar where they shared with clients and business colleagues our perspective on the markets, domestic and global economy and when the next recession is likely to occur.

December 31, 2018

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

The fourth quarter witnessed a significant downturn for equity markets as well as a decline in energy prices.  These downturns were in contrast to strong corporate earnings growth, estimated GDP growth of 2.7% and continued high demand for oil. Continue Reading

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