October 11, 2023
Inflation and Interest Rates
Dear Friend:
The topic of inflation and interest rates remained top of mind for investors throughout this year and last. We will discuss recent developments, their impact on fixed…. Continue Reading
Executing Your Financial Plan and Expanding the Noesis Family
Dear Friend:
It is summer in the Northern Hemisphere, and we hope that you are enjoying the warmer months and longer days with…. Continue Reading
Risk Management and Investment Discipline
Dear Friend:
The most significant event in the first quarter of 2023 was the failure of two U.S. banks on March 9 and the subsequent panic in…. Continue Reading
Outlook for 2023
Dear Friend:
We had a cautiously optimistic outlook at the beginning of 2022 and did not expect it to be a challenging year like it had been. Several things…. Continue Reading
The Challenge and Opportunity of Inflation
Dear Friend:
It has been a year since we discussed the supply chain issue, labor shortage, ongoing pandemic, China slowdown, and inflation. Some of the challenges…. Continue Reading
BEAR Markets, Speculators in Cryptoassets Lost $2,000,000,000,000 This Year
Dear Friend:
This summer I wanted to write about market volatility and investor behavior in down markets, and then I remembered that we…. Continue Reading
Focus on What to Own
Dear Friend:
Our colleague Michiel Scholten, who runs our Dutch office in Amsterdam, will discuss Russia’s invasion of Ukraine in the first part of this quarterly letter.…. Continue Reading
Outlook for 2022
Dear Friend:
Review of 2021
We wrote the following at the beginning of 2021: “The tug of war between greed and fear was definitely on display in 2020.” A similar…. Continue Reading
Opportunities Through Market Volatilities
Dear Friend:
As we are approaching the last quarter of 2021, we face many issues: the continuing pandemic, inflation, supply chain disruption, labor shortage, elevated government debt burden,…. Continue Reading