January 15th, 2025
2025: CAUTIOUS OPTIMISM WITH SOME UNUSUAL UNCERTAINTY For years, we have been guided by the direction of corporate earnings (especially those of the companies we invest in) and real-estate cash flows, in conjunction with the level and direction of interest rates. The values of companies and real estate are primarily measured by two factors: earnings/cash […]
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March 31st, 2024
“Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis The first quarter resulted in strong absolute returns for our defensive and traditional equity strategies. Most strategies have exceeded their respective benchmarks year-to-date. This follows a significant bounce back in 2023 in the wake of a very […]
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January 19th, 2024
2024 and Beyond “The big money is not in the buying and selling, but in the waiting.” – Charlie Munger 2023 turned out to be a very strong bounce back year for our clients with significant gains made across all equity-related strategies. Charlie Munger’s philosophy of “waiting,” shared by FLI, was key to this past […]
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January 20th, 2022
2022: Our Thoughtful View “There are two times in a man’s life when he should not speculate: when he can’t afford it and when he can.” -Mark Twain A Tale of Two (Plus) Decades As we look towards 2022 and beyond, it is worth discussing each of the past two plus decades of stock market […]
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October 27th, 2020
September 30, 2020 “In the middle of every difficulty lies opportunity.” – Albert Einstein We as investors face a complex investment environment as we seek to preserve and grow our capital. We maintained our commitment to long-term investing and it proved especially prescient as for nearly all of our strategies we have not only recovered […]
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