My Account

Letters/Commentary

Archived Letters

Letter to Investors – Third Quarter 2017

Letter to Investors – Second Quarter 2017

Letter to Investors – First Quarter 2017

Letter to Investors – Fourth Quarter 2016

Letter to Investors – Third Quarter 2016

Letter to Investors – Second Quarter 2016

Letter to Investors – First Quarter 2016

Letter to Investors – Fourth Quarter 2015

Letter to Investors – Third Quarter 2015

Letter to Investors – Second Quarter 2015

Letter to Investors – First Quarter 2015

Letter to Investors – Fourth Quarter 2014

Letter to Investors – Third Quarter 2014

Letter to Investors – Second Quarter 2014

Letter to Investors – First Quarter 2014

Letter to Investors – Fourth Quarter 2013

Letter to Investors – Third Quarter 2013

Letters to Investor – Second Quarter 2013

Letter to Investors – First Quarter 2013

Letter to Investors – Fourth Quarter 2012

Letter to Investors – Third Quarter 2012

Letter to Investors – Second Quarter 2012

Letter to Investors – First Quarter 2012

Letter to Investors – Fourth Quarter 2011

Letter to Investors – Third Quarter 2011

Letter to Investors – Second Quarter 2011

Letter to Investors – First Quarter 2011

Letter to Investors – Fourth Quarter 2010

Letter to Investors – Third Quarter 2010

Letter to Investors – Second Quarter 2010

Letter to Investors – First Quarter 2010

Letter to Investors – Year End 2009

Letter to Investors – Second Quarter 2009

Letter to Investors – Year End 2008

Letter to Investors – October 2008 (Market Crash)

Letter to Investors – Second Quarter 2008